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Bottled Water Testing Equipment Market Key Drivers, Insights, Outlook, Overview, and Market Research Report 2024-2033
Bottled Water Testing Equipment Market Key Drivers
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According to The Business Research Company's, The bottled water testing equipment market size has grown strongly in recent years. It will grow from $6.75 billion in 2023 to $7.13 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to global growth in bottled water consumption, prevalence of waterborne diseases, expansion of bottled water industry, consumer preferences for purified water, risk of chemical contaminants.quality assurance in bottling plants.
The bottled water testing equipment market size is expected to see strong growth in the next few years. It will grow to $9.05 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to water quality monitoring regulations, focus on sustainable water packaging, expansion of premium water segments, government funding for water safety, increasing bottled water export/import. Major trends in the forecast period include technological advancements, portable and on-site testing solutions, multi-parameter testing devices, focus on microbiological testing, adoption of spectroscopy techniques, e-commerce platforms for equipment procurement.
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Market Drivers and Trends:
The stringent government regulations on bottled water is expected to propel the growth of bottled water testing equipment market going forward. Government regulations necessitate compliance with quality and safety standards. These regulations enhance consumer confidence, promote health and safety, and drive the need for continuous testing to ensure compliance. Additionally, they encourage research and innovation in testing technology and support market expansion by facilitating access to global markets and reinforcing brand reputation. For instance, in April 2022, according to the Food and Drug Administration, a US-based government agency , the FDA introduced a regulation allowing a fluoride level of 0.7 milligrams per liter in bottled water, in accordance with U.S. Public Health Service dental health recommendations, specifically for bottled water with manufacturer-added fluoride, and necessitating its disclosure on the ingredients list. This regulation will take effect on June 19, 2022, with industry compliance required by October 17, 2022. Therefore, the stringent government regulations on bottled water are driving the growth of bottled water testing equipment market.
Technological developments in the water testing industry are a key trend gaining popularity in the bottled water testing equipment market. Major players in the bottled water testing equipment market are focusing their efforts on creating innovative technology for water purification to sustain their position. For instance, in April 2022, Veolia Water Technologies, Inc., a France-based company specializing in water testing and environmental management solutions, launched The Barrel. The barrel is an innovative reverse osmosis (RO) technology that is plug-and-play. This technology is used for wastewater treatment, desalination-ideal for low-pressure RO applications-and wastewater reuse to provide fresh and pure water for various applications.
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Major Key Players of the Market:
Agilent Technologies Inc., Bio-Rad Laboratories Inc., Lamotte Company Inc., Accepta Ltd., PerkinElmer Inc., Thermo Fisher Scientific Inc., Danaher Corporation, Shimadzu Corporation, LaMotte Chemical Products Company, Hach Company, Tintometer India Pvt. Ltd., Palintest Ltd., Hanna Instruments Inc., Horiba Ltd., Endress+Hauser AG, Xylem Inc., YSI Inc., Metrohm India Private Ltd., Myron L Company, AquaPhoenix Scientific Inc., Aqua Solutions Inc., Aqua Systems Inc., AquaPro Solutions LLC., Applied Membranes Inc., Aquascience Technologies LLC, AquaLabo, Aquatech International LLC, Beckman Coulter Inc., CEM Corporation, CHEMetrics Inc., Cole-Parmer Instrument Company, EMD Millipore Corporation
Bottled Water Testing Equipment Market 2024 Key Insights:
• The bottled water testing equipment market size is expected to see strong growth in the next few years. It will grow to $9.05 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%.
• Surge In Bottled Water Consumption Fuels Growth Of Bottled Water Testing Equipment Market
• Technological Advancements Drive Innovation In Bottled Water Testing Equipment Market
• North America was the largest region in the bottled water testing equipment market in 2023
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