The water filters market by revenue is expected to grow at a CAGR of over 6% during the period 2022-2027, ResearchAndMarkets.com revealed in its new report.
Entitled Water Filters Market – Global Outlook & Forecast 2022-2027, the report pointed out the presence of major players – such as SUEZ, Pall Corporation, Pentair, Veolia and DuPont – is expected to boost the sales of water filters that generally utilise the activated carbon and ion exchange filters with enrichment vitamin E and C. However, the governmental policies, the rising waterborne diseases, awareness among the millennial population, and the rise in the environmental impact of bottled water are expected to propel the market for water treatment systems.
Improving the taste and odour of tap water for drinking has been another objective of players in the market that makes drinking a dominant end-use in the resident segment. Particularly, filter cartridges are used in numerous industrial applications to trap contaminations and solid waste. In addition, cartridges filters eliminate submicron particular matter. With that, the report revealed that the revenue for the cartridge segment is expected to reach US$5.38 billion by 2027, growing at a CAGR of 6.66% during the forecast period.
The report further identified Germany as the largest market for water filters in the European region, followed by the UK. While Italy and Spain are regarded as other potential markets, the scope for filters is “comparatively low” in Scandinavian countries, owing to the high quality and safe tap water boost investors confidence in the market.
And Asia-Pacific, it is the fastest-growing market for water filters with China being the market leader in 2021, according to the report. The growth is mainly supported by the economic development and hike in middle-class consumers in India and China. Asia-Pacific, which is expected to account for over 70% of the middle-class population by 2030, thus possesses a “huge positive influence” on the market growth with driving demand for the water filters market.