Home Water Filtration Systems Market Future Scope till by 2030

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Description

The global home water filtration systems market was valued at USD 4.37 billion in 2020 to USD 7.73 billion by 2027, at a CAGR of 8.49% from 2021 to 2027. Water covers 71% of the earth’s surface and accounts for 75% of the human body content. Among 3% of the global freshwater sources, only 0.4% is accessible as tap water. Lakes, rivers, springs, aquifers, and groundwater are some of the major freshwater sources. However, groundwater is becoming scarcer in densely populated regions owing to excessive usage. Desalinated seawater is unlimited in supply but is considered expensive due to the amount of energy involved in making it fit for human consumption. The complexity in water accessibility and treatment techniques has been a major crisis in the past decade.

However, over 600 million people worldwide lack access to safe water as the majority of the freshwater resources are contaminated and unsuitable for human consumption without undergoing multiple levels of treatment at municipal and residential levels. The delivery of the highest quality water signifies the hallmark of modern civilization, where the water treatment systems have undergone various technological innovations in terms of filtration techniques to address current challenges. Accordingly, the home water filtration systems market is expected to pose an absolute growth of 63.05% during the forecast period with growth potential in the markets of APAC, Latin America, and the Middle East, and Africa, which poses large growth opportunities due to under-penetration.

While water sources across the world vary with a high degree of flexibility, a homeowner needs to assess its purity and quality. Hard water, which usually consists of minerals such as calcium and magnesium, can have adverse effects on health, clothes, and appliances, accounting for considerable expenses in the long run. Although tap water is considered pristine in certain countries, there are certain growing economies around the globe where there is no access to tap water. The poor quality of water in certain countries such as India also restricts its use in multiple applications. In countries such as the US, public awareness of municipal water has hit an all-time high. The cultural fixation on hygiene is less intense in African and Asian countries. However, governmental policies, rising water-borne diseases, awareness among the millennial population, and the environmental impact of bottled water are expected to propel the market for water treatment systems.

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Global Home Water Filtration Systems Market Dynamics

Drivers: Rise in Awareness of Water-Borne Diseases

Water-borne diseases are caused by various microorganisms such as viruses and bacteria through contaminated water. Industrial waste and animal and human waste contaminate water. In various parts of the world, these diseases are rampant and deadly. Contaminated water and poor sanitation have been a major source of transmission of diseases such as cholera, dysentery, diarrhea, hepatitis A, polio, and typhoid. There are various causative agents, including naturally occurring chemicals such as arsenic, radon, uranium, and insecticides and fertilizers. The improper and inadequate management of water exposes individuals to various health risks. The inappropriate management of urban, industrial, and agricultural wastewater causes contamination of drinking water. Over 830,000 people die each year due to diarrhea as a result of drinking unsafe water. Utilizing untreated water for washing can lead to skin and infectious eye diseases such as Trachoma, further leading to visual impairment or blindness at times.

Water-borne diseases are riskier and pose high levels of threat to children owing to their weak immunity levels. With children being highly prone to these risks, access to improved and hygiene sources of water is proven to reduce health risks and enhance the well-being of individuals. The rise in awareness regarding the potential side effects of consuming untreated water has greatly supported the growth of filtration systems across the globe. Thus, the knowledge of different diseases has come to the forefront, especially due to globalization in the past years.

Restraints: High-Quality Tap Water in Developed Economies

Naturally available tap water that undergoes municipal water treatment methods poses a significant threat to adopting counterparts such as water filters and bottled water. The scenario is more specific in developed economies of Europe and North America, where stringent safety regulations monitor the water quality. The availability of safe and tested tap water potentially restricts homeowners from buying a filter system subjected to frequent overhead expenses such as replacement and maintenance. Although the preference for home water filters in countries such as the US and the UK is still considerable, they tend to be underpenetrated owing to the large-scale preference for tap water directly consumed for numerous end-use activities without further treatments. Accordingly, in these countries, the scope for penetration is more significant only in cities with higher incidences of chlorination or areas with aging piping infrastructure. Further, vendors have opportunities to target more health-conscious homeowners, requiring the highest standards of safety.

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Opportunities: Booming Diy Water Filters

The emergence of DIY trends has eventually impacted the dynamics of the home water systems filtration market. Though the impact might not be significant in every application, the drinking water filtration segment is vulnerable to the threat posed by homemade water filters. DIY filters become handier when conventional water purifiers are not an ideal option. The effectiveness and quality of homemade DIY water filters are validated through water test kits. It can provide information about the presence of metals, pesticides, and bacteria in the water.

DIY enthusiasts in the US, the UK, France, China, and other European countries design homemade water filters. A DIY water filter is a very affordable option, especially if the items are already available. Solar water disinfection, stovetop distiller, bio-filters, and charcoal filtration are commonly deployed techniques. A technique as simple as boiling can also considerably impact the utilization level of water filters at home.

Scope of the Report

The study categorizes the home water filtration systems market based on product type, distribution channel, end user, and regions.

By Product Type Outlook (Revenue, USD Million, 2017-2027)

  • Whole House
  • Under The Sink
  • Countertop
  • Pitchers & Dispensers
  • Faucet
  • Shower Mounted
  • Inline

By Distribution Channel Outlook (Revenue, USD Million, 2017-2027)

  • Offline
  • Online

By End User Outlook (Revenue, USD Million, 2017-2027)

  • Drinking
  • Cooking
  • Bathing
  • Laundry & Appliances

By Region Outlook (Revenue, USD Million, 2017-2027)

  • North America (US, Mexico, Canada)
  • South America (Brazil, Peru, Argentina, Colombia, Rest of Latin America)
  • Europe (Germany, UK, Italy, France, Spain, Poland, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Russia, Sweden, Denmark, Rest of Europe)
  • Asia Pacific (India, China, Japan, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific)
  • The Middle East & Africa (Saudi Arabia, South Africa, UAE, Northern Africa, Rest of MEA)

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The whole house, by Product Type, is accounted for the largest market segment during the forecast period

The home water filtration system is segmented into the entire house, under the sink, countertop, pitchers & dispensers, faucet, a shower mounted, and inline, based on product type. In 2020, the whole house segment was accounted for having the largest market revenue share of 29.06% and having a CAGR of 8.32% during the forecast period.

It is considered the most expensive and efficient water filter system for residences and is expected to pose an absolute growth of 61.56% during the forecast period. It is a one-stop solution for water filtration as it filters and treats water coming into homes. It is used for various applications such as drinking, cooking, washing, and other appliances. It is often referred to as point-of-entry (POE) systems and usually requires professional installation and maintenance alongside the high initial costs. The capacity of the water filter, flow rate (gallons per minute), and type of filtration methods are the major determining factors for adopting whole house water filtration systems. Proper sizing of the entire house filter will ensure its optimum functioning at peak hours when there is a requirement for filtered water for numerous applications such as cooking, drinking, bathing, and laundry. They can also accommodate water softeners that can remove hard water stains and prevent corrosion of appliances. The most common whole house water filter systems utilize reverse osmosis filtration technology.

Asia Pacific accounts for the highest CAGR during the forecast period in the home water filtration systems market

On the basis of region, the global home water filtration systems market is segmented into North America, Europe, Asia Pacific, South America, and the Middle East & Africa. Asia Pacific is the fastest-growing segment with a CAGR of 9.49% during the forecast period 2021-2027. The Asia-Pacific home water filtration systems market is analyzed across Japan, China, India, Australia, and the rest of Asia Pacific. In the Asia Pacific, poor sewage disposal mechanisms, low and ineffective public water treatment plants, and high incidence of water-borne diseases such as typhoid are expected to propel the demand for filtration systems.

After the Asia Pacific, North America is the fastest-growing region, with a CAGR of 7.81%, during the forecast period. Millions of Americans are prone to drinking unsafe water that exceeds the limitations set by Environmental Protection Agency (EPA). People across the country have realized the pervasiveness of the potential hazard, thereby driving the demand for home water filtration systems. Further, municipal wastewater treatment methods, usage of chemical fertilizers and pesticides in households, regulatory compliance of mining operations, and the release of cadmium and mercury from heavy industries are expected to shape the adoption of home water filtration systems in Canada during the forecast period.

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Key Market Players

The global home water filtration systems market is fragmented into a few major; some of them are Best Water Technology Group, Kent RO System Ltd., Brita Gmbh, Eureka Forbes Limited, Tata Chemicals, HaloSource Inc., Panasonic, Amway Corporation, Aquasana, Ispring Water Systems, Culligan, GE Water & Process Technologies Inc., Eureka Forbes Limited. These players have garnered the maximum market share in 2020. These market players are adopting growth strategies to strengthen their position in the market. Product launches and partnerships are the key growth strategies adopted by different key players in the market.

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