WATER PURIFIER MARKET
A water purifier is a device used to decontaminate water from harmful substances, chemicals, microorganisms, and other pathogens and to make it drinkable. Increase in disposable income in developing countries has fuelled the growth of the water purifier market. Increase in income level boosts the purchasing power of consumers, which in turn results in the improved standards of living. Furthermore, the demand for water purification systems is fuelled by increase in unavailability of safe water by municipalities and upsurge in the number of water recycling & treatments techniques. This has also contributed toward the development of new technologies such as advanced gravity purification in the water purifier market. Increase in the health concerns and well-being among the global population has led to the adoption of hygiene practices. Widespread availability of healthcare services, change in economic & social systems, and improved diagnostics has improved the health of customers worldwide.
On the basis of technology, the market is categorised into uv, ro, and gravity based. According to research, recently RO water purifier is dominating and is expected to grow at the CAGR of 9.9% during the forecast period. RO water purification systems require low electricity consumption, and are highly performance efficient. On the basis of distribution channel, the market is segmented into retail stores, direct sales, and online channels. As per study, the retail stores segment held a major share in 2018 as compared to direct sales and online channels. This was due to the inclination of the crowd towards the retail stores to try the product before purchasing. On the basis of end user, the market is categorized into commercial and residential. The residential segment occupied is dominating with a share of 74.7% in 2018 and is expected to grow significantly during the forecast period.
On the basis of region, the market is segmented into North America, Asia Pacific, Europe, and Middle East & Africa. Asia-Pacific is currently dominating with regions such as China, India, Vietnam, Thailand, Indonesia, and the Philippines that are emerging. Asia Pacific is anticipated to witness significant growth due to the increasing population, and rising water-borne diseases, coupled with advancements of emerging vendors in the region.
North America is the second dominating region. This is due to the government funding and research & development initiatives in these regions. Geographical conditions are also impacting the demand for water purifiers, as these regions have hard water. According to the UN and the WHO, in every 21 seconds a child and approximately 3.5 million people die annually in the developing countries due to waterborne diseases caused by contaminated water. Diminishing quality of water is a serious health hazard, which fuels the demand of water purifiers.
Rising demand for packaged water and low penetration rate of water purifiers appears as a big challenge in the growth of the water purifier market in Europe. However, increasing pollution levels and rising growth opportunities in the region are expected to enhance the growth in the water purifier market in the future. Latin America and MEA have witnessed an increase in disposable income, owing to skill development of the population and rise in employment in service centered industries. This is likely to boost the water purifier market in the region.
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