Dublin, Jan. 17, 2024 (GLOBE NEWSWIRE) -- The "Global Household Water Dispenser Market: Analysis by Type, Function, Distribution Channel, Region Size and Trends with Impact of COVID-19 and Forecast up to 2028" report has been added to ResearchAndMarkets.com's offering.
The global household water dispenser market reached a value of US$5.42 billion in 2022, and projections indicate it will attain US$7.58 billion by 2028, with a 5.76% CAGR from 2023 to 2028. This growth is fueled by factors such as increased disposable income, urbanization, and the surge in e-commerce adoption. Water dispensers, a preferred choice for consumers seeking convenience and health benefits, have seen rising demand, especially in regions with uncertain tap water quality. E-commerce platforms have enhanced accessibility, while concerns about water quality and health risks drive market expansion. Opportunities lie in tapping into developing markets with water accessibility concerns.
Market Segmentation:
- Type: Bottled and Bottle-less. Bottled dominated in 2022, driven by convenience and accessibility. Bottle-less is the fastest-growing, addressing sustainability and cost-effectiveness concerns, appealing to environmentally conscious consumers.
- Function: Regular and Water Cooling/Heating. Regular dominated in 2022, offering straightforward, filtered water. Water Cooling/Heating is projected as the fastest-growing, meeting diverse household needs for varied water temperatures.
- Distribution Channel: Retail, Online, and Others. Retail dominated in 2022 due to convenience and accessibility. Online is forecasted to be the fastest-growing, enabling global outreach and facilitating price comparison.
- Region: North America, Europe, Asia Pacific, Rest of the World. North America is the largest region, driven by health awareness and demand for safe drinking water. Asia Pacific is the fastest-growing, propelled by health concerns, urbanization, and improved living standards.
Global Dynamics
Growth Drivers:
- Increase in disposable income.
- Rapid urbanization.
- Growing adoption of e-commerce.
- Increasing demand for clean drinking water.
- Expansion into developing markets.
Challenges:
- High investment and maintenance costs.
- Counterfeit products.
- Competition from bottled water.
Trends:
- Rise of smart water dispensers.
- Advanced filtration revolution.
- Hygienic touchless dispensers.
- Sustainable and energy-efficient dispensers.
- Personalized subscription services.
Impact of COVID-19: The pandemic led to increased demand for water dispensers due to heightened hygiene awareness. However, disruptions in the supply chain and manufacturing processes, coupled with changes in consumer spending patterns, resulted in temporary shortages and delays. Remote work and stay-at-home measures fueled online purchases of household appliances, impacting market dynamics.
Way Forward: The market is poised for growth, driven by smart technology integration, advanced filtration, hygienic features, sustainability, and personalized services. Manufacturers should address challenges such as high costs and competition, leveraging emerging trends to meet evolving consumer preferences. The impact of the pandemic underscores the importance of adaptability and resilience in navigating market uncertainties.
Competitive Landscape and Recent Developments
The global household water dispenser market is fragmented, with an increasing number of large and medium-sized players accounting for the majority of the market revenue, and the presence of a substantial number of regional market players with limited business offerings and customer base. However, in developed economies, such as the US, Canada, the UK, Germany, and Japan, a selected number of market manufacturers dominate the global market with their strong brand recognition and competitive positioning, and so the market is dominated by a selected number of recognized and well-positioned market players that provide several market-related offerings.
The key players of the global household water dispenser market are:
- Blue Star Limited
- Haier Smart Home Co. Ltd.
- Primo Water Corporation
- Honeywell International Inc.
- Voltas Limited
- Midea Group Co. Ltd.
- Avalon Water Co. Inc.
- Clover Co. Ltd.
- Culligan International Co.
- Atlantis
- Avanti Products Inc.
Key Topics Covered
1. Executive Summary
2. Introduction
3. Global Market Analysis
4. Regional Market Analysis
5. Impact of COVID-19
6. Market Dynamics
7. Competitive Landscape
8. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/9do5vo
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
