Water Purifier Market: Current Analysis and Forecast (2021-2027)

Report Description

Global water purifier market generated revenue of around US$ 52.3 billion in 2020, and is expected to grow at a  considerable CAGR of ~11.2% during the forecast period. The water purifier is mainly used to eradicate water borne-pathogens, bacteria, viruses, and other impurities such as lead, mercury, and other pollutants from water. The eradication of different bacteria species such as giardia and cryptosporidium reduces the risk of gastrointestinal diseases by 33%. The removal of chlorine and its by-products from water reduces the risk of rectal and bladder cancer. The water purifier reduces the threat of different water-borne diseases such as Typhoid, Cholera, Giardia, Dysentery, Hepatitis A, and Salmonella. Furthermore, drinking clean water enhances the metabolic system, improves skin health, helps weight reduction, and boosts the overall immune system of the body. The increase in waterborne diseases all over the world is anticipated to boost market growth. Moreover, the rising industrialization, dumping of chemicals, sewage, and wastes in water bodies is further increasing the demand of water purifier in the market. Also, the rising awareness regarding the benefits of drinking purified water, and rising disposable income are driving the market growth.

 Household Disposable Income Gross Adjusted, US Dollars/Capita, 2020

Insights Presented in the Report

“Amongst Technology, RO segment holds the major share.”

Based on Technology, the market is fragmented into UV, RO, and Gravity Based. The RO purifier segment dominated the market in 2020 and is expected to register the highest CAGR in the upcoming period owing to its high adoption, high-performance efficacy, regular technological innovation, and low electricity consumption. Nowadays, companies are concerned about the development of water purifiers that can save more water. According to Asian Development Bank’s forecast, by 2030, India will have a water deficit of 50 percent. In 2020, Livpure launched World’s 1st RO Water Purifier with 70% water recovery. This will save around 20,000 liters of water per household per year, thereby contributing in a big way to conserving water in India and across many countries in the world.

“Amongst Distribution Channel, Retail Sales segment holds the major share.”

Based on Distribution Channel, the market is fragmented into Retail Sales, Direct Sales, and Online. The Retail Sales segment dominated the market in 2020 and is expected to register the highest CAGR in the upcoming period owing to high patient satisfaction, the higher affinity of customers towards physical stores, and high safety. In 2017, India’s leading water purifier Eureka Forbes shifted its focus to retail to increase sales.

“Amongst Portability, Non-Portable segment is anticipated to grow at the highest CAGR during the analyzed period.”

Based on Portability, the market is fragmented into Portable and Non-portable. The Non-portable segment holds the largest share in 2020 and is expected to register the highest CAGR in the upcoming period owing to high adoption among corporate offices, households, hospitals, and others. Moreover, the low cost of non-portable water purifiers also intensifies the market growth. As per the American Hospital Association, there are 6,090 Total Hospitals in the U.S.

“Amongst End-user, Residential segment is anticipated to grow at the highest CAGR during the analyzed period.”

Based on End-user, the market is fragmented into Commercial and Residential. The Residential segment holds the largest share in 2020 owing to the high adoption of water purifiers amongst residential users, deteriorating water quality coupled with rising in water-borne diseases and surge in urbanization. However, the Commercial segment is expected to register the fastest CAGR in the upcoming period owing to a rise in the number of schools, offices, and restaurants all over the world.

“Asia-Pacific signifies one of the largest markets and Europe is expected to be the fastest-growing markets of Water Purifier market.”

For a better understanding of the market adoption of Water Purifier, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. The Asia Pacific will dominate the Water Purifier market on account of the improved lifestyle, increase in purchasing power, rise in population, rapidly growing urbanization, and rising awareness regarding consumption of clean water. Some of the major players operating in the market include Amway Corporation, A. O. Smith Corporation (Aquasana Inc.), Best Water Technology, Eureka Forbes Limited, Halo Source Inc., Kent Ro System Ltd., LG Electronics, Panasonic Corporation, Suez Water Technologies & Solutions (SUEZ), and Tata Chemicals Ltd. Several M&As along with partnerships have been undertaken by these players to boost their presence in different regions.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts
• The report presents a quick review of overall industry performance at one glance
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
• The study comprehensively covers the market across different segments
• Deep dive regional level analysis of the industry

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Research Methodology

Analyzing the historical market, estimation of the current market, and forecasting the future market of the Global Water Purifier market were the three major steps undertaken to create and analyze the adoption of Water Purifier for the different applications across major Distribution Channels such as Retail Sales, Direct Sales, and Online.  Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the Water Purifier sector. Post assumption and validation of market numbers through primary interviews, we employed a top-down approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to.

Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

The detailed secondary study was conducted to obtain the historical market size of the Water Purifier through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the Water Purifier market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments for major regions. Major segments included in the report are Technology, Portability, Distribution Channel, End-user, and Region. Further country-level analyses were conducted to evaluate the overall adoption of Water Purifiers in every region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Water Purifier. Further, we conducted factor analysis using dependent and independent variables such as the increase in water-borne disorders.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Water Purifier Market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down approach was applied to arrive at the market forecast about 2027 for different segments and subsegments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of value (USD) and the adoption rate of Water Purifier across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the Water Purifier market in terms of services offered. Also, the growth strategies adopted by these players to compete in the fast-growing market.

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the Water Purifier market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of Technology, Portability, Distribution Channel, End-user, and Region of the Water Purifier market.

Main Objective of the Water Purifier market Study

The current & future market trends of Water Purifiers were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the Water Purifier in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments.
• Segments in the study include areas of Technology, Portability, Distribution Channel, End-user, and Region
• Define and analysis of the regulatory framework for the Water Purifier industry
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
• Analyze the current and forecast market size of the Water Purifier market for the major region
• Major regions studied in the report include North America (the United States and Canada), Europe (Germany, France, Spain, and United Kingdom), Asia-Pacific (China, Japan, India, and Australia), and the Rest of the World
• Company profiles of the Water Purifier market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry