China water purifier market is fast growing
Views: 1043 Update date: Jun 09,2020
The popularization of air purifiers in China started in 2011 when the government estimated that 82% of the river water resources and 55% of the ground water resources were highly polluted with detrimental contaminants.
China water purifier market is one of the newest yet fast growing markets. With only a few hundred players in 2000 and more than 3000 of those now, it is forecasted to grow 16% annually by 2023. It is predicted that by the end of 2020 there would be 40 million units sold in the water purifier market in China, leading to half of the households getting at least one. This would result in a total market average revenue of 28 billion USD.
1. WATER CONTAMINATION
Waters in China get direct pollution from an outrageous number of factories. Apart from that, poor air quality contributes a lot to water contamination. Moreover, rusty pipes in old buildings add insult to injury.
2. HEALTH AWARENESS
Chinese people are currently largely following the world’s common trend of talking greater care of one’s health. They don’t want to consume water that contains dust, chlorine, heavy metals, bacteria, etc, anymore.
3. GROWING PURCHASING POWER
There are no people with no money in China provided that there is a value for money in front of them. The growing economy has made it possible to regard water purifiers as an essential tool in the basic consumer basket here.
4. BOOM IN RELATED INDUSTRIES
A boom in real estate in China has significantly increased the demand for water filters and purification systems. This is particularly true for the 3rd and 4th tier cities.
5. INCREASED ADVERTISING
Local brands have already done a lot to nurture the culture of using water purifiers in Chinese homes. This has contributed to the growing demand.
6. COST-EFFECTIVENESS
For drinking water alone, if an average household consumes 5-6 liters of clean bottled water per day, this would result in 2000-3000RMB per year and even more. A water purifier is, however, bought to be used for years.
7. LOW PENETRATION RATE
Less than 5% of Chinese families have water purifiers at home. Combined with the growing demand backed up by the above mentioned factors, this gives a lot of prospects for the water purifier brands in China.
China water purifier market is one of the newest yet fast growing markets. With only a few hundred players in 2000 and more than 3000 of those now, it is forecasted to grow 16% annually by 2023. It is predicted that by the end of 2020 there would be 40 million units sold in the water purifier market in China, leading to half of the households getting at least one. This would result in a total market average revenue of 28 billion USD.
1. WATER CONTAMINATION
Waters in China get direct pollution from an outrageous number of factories. Apart from that, poor air quality contributes a lot to water contamination. Moreover, rusty pipes in old buildings add insult to injury.
2. HEALTH AWARENESS
Chinese people are currently largely following the world’s common trend of talking greater care of one’s health. They don’t want to consume water that contains dust, chlorine, heavy metals, bacteria, etc, anymore.
3. GROWING PURCHASING POWER
There are no people with no money in China provided that there is a value for money in front of them. The growing economy has made it possible to regard water purifiers as an essential tool in the basic consumer basket here.
4. BOOM IN RELATED INDUSTRIES
A boom in real estate in China has significantly increased the demand for water filters and purification systems. This is particularly true for the 3rd and 4th tier cities.
5. INCREASED ADVERTISING
Local brands have already done a lot to nurture the culture of using water purifiers in Chinese homes. This has contributed to the growing demand.
6. COST-EFFECTIVENESS
For drinking water alone, if an average household consumes 5-6 liters of clean bottled water per day, this would result in 2000-3000RMB per year and even more. A water purifier is, however, bought to be used for years.
7. LOW PENETRATION RATE
Less than 5% of Chinese families have water purifiers at home. Combined with the growing demand backed up by the above mentioned factors, this gives a lot of prospects for the water purifier brands in China.
