On the basis of end user, the market is categorized into commercial and residential users. The global water purifier market is anticipated to witness a rapid growth in the residential segment because of rising health concerns amongst households. Residential users accounted for the largest share, i.e., 78% of the overall market in 2015. Moreover, the segment would witness prominent growth in developing countries such as China and India in the coming years, owing to increasing scarcity of clean drinking water and increasing awareness towards health and hygiene.
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Water Purifier Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $45.3 billion by 2022, registering a CAGR of 10.4% during the period 2016-2022. Asia-Pacific accounted for the highest share of the market in 2015.
However, LAMEA is anticipated to witness the fastest CAGR of 13.5% during the forecast period. The growth in the region is primarily supplemented by the deteriorating quality of drinking water, growing industrialization & urbanization, and rising awareness towards waterborne diseases.
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The market segmentation on the basis of technology includes gravity purifier, UV purifier, and RO purifier. RO purifiers accounted for a market share of around 63% in 2015 and the segment is estimated to grow at a prominent CAGR of 11.7% during the forecast period.
Increasing adoption amongst households in developing economies owing to rising levels of disposable income and performance efficiency offered by RO water purifiers would fuel its market growth in the coming years. The market is likely to witness the launch of innovative, UV based portable water purifiers in near future, owing to the rising demand of easy to carry purifiers, driven by the increasing trend of outdoor activities, and work and leisure trips.
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In terms of distribution channel, the market is divided into retail stores, direct, and online sales channels. The retail segment dominated the market in 2015, followed by direct selling which accounted for 14.7% of the overall market in 2015.
Key findings of the study:
- The demand for water purifiers is likely to increase rapidly due to increasing disposable income of the consumers in the Asia-Pacific and LAMEA.
- Asia-Pacific is the highest revenue-generating region in the world water purifier market. Moreover, LAMEA is expected to witness the highest growth rate during 2016 - 2022.
- The deteriorating quality of water, growing industrialization & urbanization, and rising health awareness are the major driving factors of the market.
- The RO segment holds a prominent share of the overall market and is anticipated to witness a notable CAGR of 11.7% during the forecast period.
The key companies profiled are Best Water Technology Group, Brita Gmbh, Tata Chemicals, Panasonic, Amway Corporation, Aquasana Inc., HaloSource Inc., GE Water & Process Technologies Inc., Eureka Forbes Limited, and Kent RO System Ltd.
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