( PR4US.com | Press Release | 2017-10-26 21:20:13 )
Mumbai, India – October 26, 2017 – Global market intelligence firm, Netscribes, Inc. released its latest report on the ‘Water Purifier Market in India 2017’ https://www.researchonindia.com/water-purifier-market-in-india-2017-13625.html
. Increase in water borne diseases due to lack of clean drinking water is fuelling demand for water purifiers in India.
Netscribes’ latest market research report titled Water Purifier Market in India 2017 states that the domestic market for residential water purifiers is expected to grow at a CAGR of ~21% from FY 2016 over the next five years. Currently, water purifiers are no longer considered consumer durables limited to affluent households as they are available at low prices and have started to penetrate through to the lower income groups and rural households across the country. Increasing advertisements by water purifier companies on most popular media platforms such as television, radio, and print is impacting consumers’ preferences when selecting a purifier for their daily requirements. Value-wise, electric purifiers contribute ~70% to the total market due to their higher price points, while the rest comprises gravity-based purifiers. The domestic market is largely under penetrated and manufacturers have ample opportunities to grow in this market. Eureka Forbes Ltd., Hi-Tech Sweet Water Technologies Pvt. Ltd., Hindustan Unilever Ltd., and KENT RO Systems Ltd. are some of the notable companies in the Indian water purifier market. Demand for water purifiers is huge in the developing countries like India, as government initiatives in such countries are not enough to provide clean drinking water.
Increasing urbanization is one of the major contributing factors behind the growth of the domestic water purifier market. The water purifier market faces some challenges such as lack of awareness among the rural population and lack of standardization among the products marketed by companies. However, India has witnessed a decent rise in export of household type water filters during FY 2013 to FY 2017. Recent trends, like leading sanitary ware and water heating products manufacturing companies foraying into the water purifier segment, have made it evident that new players from different industries are entering the domestic market and are also trying to increase the number of selling points. There is a lot of opportunity for new players as the rural market is still untapped.
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