The global household water dispensers market is expected to grow to US$ 9.8 billion worldwide. It is anticipated to exhibit a consistent compound annual growth rate of 5.4% from 2023 to 2033. In 2023, it’s probably going to hit US$ 5.8 billion.
In recent years, increasing public awareness about drinking clean water has driven much of the demand in the market. Also, the market is expected to gain momentum due to several technological advancements that surge water treatment capacity while reducing prices.
Increasing stages of groundwater contamination and usage of water coolers in commercial facilities increase demand for household water dispensers and promote market growth. Furthermore, the depletion of natural water resources and the growing demand for drinking water are the key factors expected to pave the way for the market’s growth.
Get your Sample Report to Boost Your Industry Knowledge for Valuable Insights! https://www.futuremarketinsights.com/reports/sample/rep-gb-17932
Advantages provided by water purifiers like easy usage, minimal maintenance costs, installation, and portability, are expected to drive market growth. Rapid industrialization and urbanization further increase the demand for clean and pure water, which is expected to support market expansion.
Product innovation and diversification in the market will likely expand the lucrative opportunities available to players in the market over the forecast period. Integration of advanced technology entering the water market is anticipated to inflate further the future development of the household water dispenser market.
Key Takeaways from the Household Water Dispensers Market Report
- Based on function, the cooling and heating dispenser category is projected to grow at a CAGR of 2% through 2033.
- Regarding distribution channels, retail stores are expected to expand at 0% CAGR through 2033.
- China household water dispensers market is projected to reach US$ 1.6 billion by 2033.
- Japan household water dispensers market is projected to hit US$ 1 billion by 2033.
- South Korea household water dispensers market is estimated to expand at a CAGR of 2% through 2033.
“Due to the availability of a wide range of products, greater discounts, and ease of delivery, customers in the market prefer acquiring dispensers from several online sales channels.” These advantages have resulted in a shift in customer purchasing preferences from offline to online provisions, and this drift is expected to continue during the forecast period. Development in e-commerce due to wider distribution networks and product availability creates key prospects for market players, which has motivated manufacturers to offer their products over online channels.” – Opines Sneha Verghese, Senior Consultant for Consumer Goods and Products at Future Market Insights (FMI).
Request the Full Report Methodology Now!
https://www.futuremarketinsights.com/request-report-methodology/rep-gb-17932
Competitive Landscape
Key players operating in the household water dispensers market hold a significant market share and have a robust global presence. The market likewise includes small and medium-sized companies, offering a wide range of select fountains and serving regional customers.
The influence of established companies in the market is high as some of them have extensive global distribution networks to grasp their vast client base. Leading players in the market are directing on strategic approaches such as acquisitions, partnerships, product launches, event participation, and expansion to fuel revenue growth and strengthen their position in the household water dispensers market.
For instance,
In September 2020, Aquaverve, the leading fountain manufacturer in North America, announced its line of touchless.
In April 2020, Waterlogic Holdings Limited announced the completion of the purchase of a substantial stake in the firm by four investors: Neuberger Berman, British Columbia Investment Management Corporation (BCI), StepStone, and Skandia.
Household Water Dispensers Market Outlook by Category
Function-based:
- Cooling and Heating Dispensers
- Cooling Dispensers
Distribution Channel:
- Retail Stores
- Online Retail
- Supermarkets/Hypermarkets
- Specialty Stores
- Direct Sales
- Distributors and Wholesalers
- Others
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
