The global water dispenser market size is expected to reach USD 3.26 billion by 2025 registering a CAGR of 7.6%, according to a new report by Grand View Research, Inc. Rising demand for clean drinking water appliances. Moreover, rapid urbanization and increased purchasing power of consumers in developing countries, such as China and India, is anticipated to boost the demand further.
In addition, advent of water purification technologies and cost-effective and energy-efficient water cleaning products will support market growth. Drinking water scarcity across various regions requires robust sources to fulfill the demand for safe drinking water, which also leads to the extensive usage of water dispenser. Moreover, the impact of e-commerce channels, rising number of convenience and specialty stores, and availability of cost-effective products also provide growth opportunities for the market.
Asia Pacific is anticipated to be the fastest-growing regional market over the forecast period. This growth can be attributed to technological and product innovations and rising need for safe drinking water as a result of growing population in the region. Rise in the sales of packaged water bottles due to deteriorating water quality in several countries of APAC will boost the market growth further. Moreover, increasing number of domestic manufacturers due to the presence of a wide consumer base and demand is likely to contribute to the market growth.
Major companies in the market are focusing on new product launches, capacity expansion, and technological innovation to estimate the existing and future demand patterns from upcoming product segments. Some of the prominent companies in the global market are Whirlpool Corp.; Clover Co. Ltd.; Oasis International, Inc.; Glacial Home; Primo Water Corp.; Honeywell International, Inc.; and Emersion Electric Co.
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Further key findings from the study suggest:
- In terms of revenue, bottled product segment is projected to lead the global market in future. However, bottle-less product segment will expand at the maximum CAGR over the forecast period
- Commercial application was the dominant segment in 2018 with an overall share of over 70.99%. On the other hand, residential application is projected to be the fastest-growing segment from 2019 to 2025
- North America led the global water dispenser market in 2018 and will maintain its dominant position throughout the forecast years
- With increasing disposable income levels in India, South Korea, China, and Japan, the market in Asia Pacific is anticipated to witness the fastest growth
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About Grand View Research:
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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