Purified Water Market Analysis and Latest Trends
Purified water refers to water that has undergone a purification process to remove impurities and contaminants, resulting in a high level of purity. The purification process typically involves filtration, distillation, deionization, or reverse osmosis. Purified water is commonly used for drinking, cooking, pharmaceuticals, laboratory testing, and other applications where high-quality water is required.
The global purified water market has been witnessing steady growth due to increasing concerns regarding water safety and rising awareness about the importance of clean and pure drinking water. The market is also driven by the growing population, urbanization, and industrialization, leading to increased pollution levels and a higher demand for purified water.
In addition, the rising health-consciousness among consumers and a shift towards healthier lifestyles have resulted in the increased consumption of purified water as compared to tap water. Moreover, the widespread availability of water purification systems and bottled water products has further contributed to the market growth.
The market is also influenced by the latest trends such as the increasing adoption of advanced purification technologies like UV disinfection systems and carbon filtration systems. These technologies offer more effective and efficient purification methods, ensuring the removal of even the smallest contaminants.
Furthermore, the market is witnessing a surge in demand for eco-friendly and sustainable water purification solutions. Consumers are now inclined towards using purification systems that do not rely on single-use plastic bottles or involve wasteful purification processes.
Overall, the purified water market is expected to grow at a steady pace in the coming years. According to the provided information, the market is projected to grow at a compound annual growth rate (CAGR) of 5.6% during the forecast period, indicating positive market prospects and opportunities for key players in the industry.
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Purified Water Major Market Players
The purified water market is highly competitive, with several key players vying for market share. The following provides a summary of a few prominent companies in this industry, their market growth, future growth prospects, and market size.
Coca-Cola Company: With its brand Dasani, Coca-Cola is a major player in the purified water market. The company has experienced solid market growth due to its strong distribution network and brand recognition. According to reports, Coca-Cola's bottled water segment saw a revenue of USD 4.7 billion in 2020. The company's future growth in the purified water market is expected to be driven by increasing demand for healthy and convenient beverage options.
Nestle Waters: Nestle Waters is one of the largest bottled water companies globally. Its portfolio includes brands like Perrier, Pure Life, and Poland Spring. Nestle Waters has witnessed significant market growth over the years. In 2020, the company's water business recorded a sales revenue of USD 8.6 billion. The company's strong focus on sustainability and introduction of innovative water packaging solutions contribute to its future growth prospects.
Groupe Danone: Groupe Danone produces and distributes bottled water under the brand name Evian. The company has a strong global presence and has witnessed steady market growth. In 2020, Danone's water division reported sales revenue of EUR 4.8 billion. Their strategic focus on sustainable packaging and increasing consumer demand for healthy hydration options are likely to contribute to their future growth in the purified water market.
The market size of the purified water industry is significant, with a projection of continuous growth in the coming years. According to a report by Mordor Intelligence, the global purified water market was valued at USD 229 billion in 2020 and is projected to reach USD 350 billion by 2026, growing at a CAGR of 7% during the forecast period.
In summary, the purified water market is highly competitive, with key players like Coca-Cola Company, Nestle Waters, and Groupe Danone leading the industry. These companies have exhibited strong market growth and have a positive outlook for future growth. The market size of the purified water industry is expected to expand further in the coming years, driven by increasing consumer awareness about the importance of hydration and health-conscious beverage choices.
What Are The Key Opportunities For Purified Water Manufacturers?
The purified water market has experienced significant growth in recent years and is expected to continue to expand in the future. Factors such as increasing health-consciousness among consumers, rising disposable income, and the need for clean and safe drinking water have contributed to the market's growth. Additionally, improvements in purification technologies, along with the convenience of packaged purified water, have further propelled the market. The future outlook for the purified water market is optimistic, with an increasing demand for safe drinking water across various regions and the emergence of new market players.
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Market Segmentation
The Purified Water Market Analysis by types is segmented into: