Global Water Purifier Market 2023-2030

Title: Global Water purifier Market Size, Share & Trends Analysis Report by Product Type (Point-of-use Filters, Under the Counter Filters, Counter Top Filters, Pitcher Filters, and Faucet-mounted Filters, Others), and by Distribution Channel (Online, and Offline)Forecast Period (2023-2030).

The global water purifier market is anticipated to grow at a CAGR of 10.5% during the forecast period (2023-2030). The growth of the market is attributed to the growing demand for growing awareness regarding diseases caused by water across the globe. The requirement for water purification devices has increased as individuals are becoming more aware of the health risks involved with drinking tainted water. Customers are becoming more aware of the significance of having access to safe and clean water for drinking. Owing to which, several major market players are focusing on developing new products to cater the demand for minerals based purifiers with filtra power technology. For instance, in October 2022, HUL's Pureit launched its new line, the Pureit Vital Series, a line of RO + UV + Minerals based water purifiers with Filtra Power Technology, that is proven to get rid of diseases, pesticides, and hazardous materials such as industrial chemicals. It additionally delivers safe drinking water.

Segmental Outlook

The global water purifier market is segmented by product type, and distribution channel. Based on the product type, the market is sub-segmented into point-of-use filters, under the counter filters, counter top filters, pitcher filters, faucet-mounted filters, and others. Furthermore, based on distribution channel, the market is sub-segmented into online, and offline. Among the product type, the pitcher filters sub-segment is anticipated to hold a considerable share of the market owing to the rise in purifiers that remove dissolved particles, toxic substances, and pesticides in addition to bacteria. As a result of a rise in cases of water-based sickness, consumers are now more aware about the health risks associated with contaminated drinking water.

The Point-of-Use Filters Sub-Segment is Anticipated to Hold a Considerable Share of the Global Water Purifier Market

Among the product type, the point-of-use filters sub-segment is expected to hold a considerable share of the global water purifier market. The segmental growth is attributed to the growing demand for technological advancements such as water filtration technology and others globally. The innovation of water filtration technology has improved the effectiveness, convenience, and affordability of water purifiers. Hence, the market players are coming up with new products to cater the demand for home-use water purification such as, cleaner, fresher water that additionally includes the ingredients and filters. For instance, in January 2021, Unilever launched Pureit, a home-use water purification system, in the US market. To produce cleaner, fresher water, the system combines anti-scaling ingredients with reverse osmosis and carbon filters. Three basic filters compose Pureit's innovative DURAVita filtration technology, that offers five layers of filtration and reduces bacteria and germs while removing over 90% of total dissolved solids (TDS) and 99% of certain heavy metals.

Regional Outlook

The global water purifier market is further segmented based on geography, including North America (the US and Canada), Europe (the UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and the Rest of Asia), and the Rest of the World (the Middle East and Africa, and Latin America). Among these, the European region is anticipated to hold a prominent share of the market across the globe. The increase in basic water consumption is the primary factor driving the market's development in Europe.

North America is Expected to Grow at a Significant CAGR in the Global Water Purifier Market

Among all regions, North America is anticipated to grow at a considerable CAGR over the forecast period. The regional market growth is attributed to the growing demand for water quality standards, which in turn has pushed government to introduce new policies across the region. The requirements for the safety of water are being more strictly regulated by governments all around the globe. Rules and regulations frequently demand that water quality is maintained at a specified level in residences, companies, and public locations. Adoption of water purifiers is driven by compliance with such rules, that ensures water fulfils the necessary criteria. According to the Safe Water Drinking Act, National drinking water standards are set by the US Environmental Protection Agency (EPA). Over 80 contaminants, such as arsenic, e-coli, cryptosporidia, chlorine, and lead, that may be present in drinking water from public water systems are regulated by the EPA. Although 90% of US public water systems reportedly fulfil the EPA's guidelines, people can opt to use a water filter to further guarantee the safety of your water.

Market Players Outlook

The major companies serving the bike-sharing market are: Apex Water Filters, Inc., BRITA Hong Kong Ltd., BWT Holding GmbH, Crystal Quest, Eureka Forbes Ltd and others. The market players are considerably contributing to market growth through the adoption of various strategies, including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in June 2022, A.O. Smith announced strategically acquired a Florida-based company. The company aims to increase its water purification capacity and establish a water treatment company in North America.

Further, in June 2022, Evoqua Water Technologies acquired, Smith Engineering, Inc. The acquisition aimed to enhance Evoqua's portfolio of high-purity water treatment systems and expanded its services.

The Report Covers:

• Market value data analysis of 2022 and forecast to 2030.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global water purifier market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying 'who-stands-where' in the market.