by The Water Filter Jug Market is estimated to be valued at US$ 774.00 Million in 2022 and is expected to exhibit a CAGR of 6.71 % over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Water filter jugs help in removing water impurities like chlorine, sand, plastics, heavy metals and pollutants from municipal water. They improve the taste, odor and overall quality of water making it safer for human consumption. With rising concerns over water contamination, water filter jugs play a vital role in providing clean drinking water.
Market key trends:
Increased awareness over water quality issues and growing health concerns related to consumption of contaminated water among consumers is driving the demand for water filter jugs. According to WHO, close to 1 billion people globally lack access to clean drinking water. Water filter jugs offer an affordable and effective solution for households to remove harmful impurities from water. Moreover, rising promotional and marketing activities by key manufacturers through various campaigns highlighting the importance of water purity is boosting adoption of water filter jugs.
Porter’s Analysis
Threat of new entrants: Low initial capital requirements required to enter the water filter jug market poses low threat of new entrants. However, established brands have strong brand loyalty.
Bargaining power of buyers: Buyers have high bargaining power due to availability of various substitutable water filter jug brands in the market. Presence of private label brands further increases buyers bargaining power.
Bargaining power of suppliers: Suppliers of filters, plastic components etc have moderate bargaining power due to availability of substitutes. However, innovations increase supplier switching costs for buyers.
Threat of new substitutes: Threat from alternative water sources like bottled water is high. Advancements in reverse osmosis technology poses threat from point of use water filters.
Competitive rivalry: Intense due to presence of global brands with wide portfolio and regional players.
SWOT Analysis
Strength: Products offers potability and improves taste of water. Growing health awareness boosts demand.
Weakness: High set up and maintenance cost limits adoption. Requires replenishing of filters increasing overall cost.
Opportunity: Growing urbanization in developing nations boosts replacement rate. Rising incomes fuels premiumization.
Threats: Stringent regulations on BPA based plastics hamper growth. Supply disruptions during pandemic impacted sales.
Key Takeaways
Global Water Filter Jug Market Demand is expected to witness high growth, exhibiting CAGR of 6.71% over the forecast period, due to increasing health awareness and rising disposable incomes in developing nations. The market was valued at US$ 774.00 Million in 2021 and is anticipated to reach US$ 1,337.72 Million by 2030.
North America dominates the global market due to prevalence of private water suppliers and rising focus on health and wellness in the US. Asia Pacific exhibiys fastest growth driven by urbanization and population growth in India and China.
Key players operating in the water filter jug market are Aqua Optima, AQUAPHOR, Brita, BWT Holding GmBH, Mitsubishi Chemical Cleansui Corporation, Culligan, Dafi filters, Electrolux, KENT RO SYSTEMS LTD, Life Straw, Ningbo Qingqing Environmental Protection Electrical Co., Ltd., PHILIPS, PUR, Seychelle Water Filtration, and Sharp Corporation.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
