The global home water filtration unit market size is expected to reach USD
24.1 billion by 2025, according to a new report by Grand View Research, Inc.,
expanding at a CAGR of 15.9% over the forecast period. Growing consumer
awareness about increased microbial and chemical contamination of surface water
and its harmful effects on human health due to increased dependency on bottled
water across the globe is likely to create a robust demand for the market over
the anticipated years.
Augmenting awareness among consumers
regarding the unfavorable effects of contaminated surface water has resulted in
a significant shift in their preference for domestic water purification
methods. Rising concerns over various waterborne diseases such as E.Coli,
typhoid, and cholera have increased the product demand for domestic purpose.
For instance, Kent launched Kent Grand Plus, coupled with TDS controllers, to
ensure the purest drinking water for domestic purpose. Kent water purifier
products are ideal for Indian conditions because they are equally easy to
handle municipal water supply and natural groundwater.
Easy availability of packaged drinking
water is a stiff challenge for the global market. In suburban areas, packaged
drinking water has a high rate of penetration and acts as a powerful substitute
for treated water. But there are many chemicals in plastic drinking bottles
such as bisphenol-A (BPA) leading to heart problems, altered hormonal levels,
and increased risk of cancer. Due to such adverse effects, Canada and Japan
banned the use of BPA in 2008 and 2010 respectively.
RO-based product is expected to expand at
the fastest CAGR of 16.2% over the forecast period. Using a semi-permeable
membrane to remove impurities, reverse osmosis (RO) technology extends beyond
typical filtration capabilities. Hence, demand for this product category is
high in the market owing to the fact that this process not only kills microbes
but also removes harmful metals such as lead and mercury. For instance, in
2019, German water filtration technologies company, BRITA began its operation in
India by launching a new range of water purifiers, namely MyPure Max. This
product range involves a combined RO+UV technology and is expected to be
initially sold via direct sales.
The APAC market is expected to generate a
revenue of USD 9.0 billion by the end of 2025. Demand for the purifiers is
expected to increase in this region due to a significant rise in competitors,
accompanied by large scale R&D investments made by such companies.
Inflating demand for such purifiers in the APAC region is due to higher
concentration of impurities present in untreated surface water. For instance,
companies such as Eureka Forbes, Livpure, and AO Smith have launched a number
of domestic category products over the past few years due to high demand for
the purifiers in India and its subcontinent.
Rapid urbanization and increasing cases of
waterborne diseases have made the consumers cautious about the health risks
associated with impure drinking water, especially in developing countries such
as Argentina, Paraguay, China, India, and Sri Lanka. Rising purchasing power
parity of consumers in these countries has led to a positive boost in the
demand over the past few years.
Some of the key players operating in the
market are Best Water Technology Group; HaloSource Inc.; Brita Gmbh; Aquasana;
Tata Chemicals; Eureka Forbes Limited; Panasonic; Kent RO System Ltd.; Amway
Corporation; EvoQua; and GE Water & Process Technologies Inc.
Further key findings from the study suggest:
· APAC is projected to generate a revenue of
USD 9.0 billion by 2025
· The RO-based product segment is projected
to exhibit the fastest CAGR of 16.2% over the coming years
· Europe is expected to emerge as the second
fastest growing region in the home water filtration unit market and expand at a
CAGR of 16.4% over the forecast period. This trend is projected to continue
over the anticipated years
· The industry is highly competitive in
nature with the major players including Brita Gmbh, Aquasana, Tata Chemicals,
Eureka Forbes Limited, Panasonic, Kent RO System Ltd. Amway Corporation, and
EvoQua.
Grand View Research has segmented the
global home water filtration unit market on the basis of product and region:
Home water Filtration Unit Product
Outlook (Revenue, USD Billion, 2015 - 2025)
·
RO-based
·
UV-based
·
Others
Home Water Filtration Unit Regional
Outlook (Revenue, USD Billion, 2015 - 2025)
·
North America
o
U.S.
·
Europe
o
France
o
Germany
·
Asia Pacific
o
India
o
China
·
Central and South America
o
Argentina
·
Middle East and Africa
o
Israel
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
