The technique of water filtration has been around for a while, and its significance has only grown over time. With a vast variety of filtration methods and products available to customers, the market for water filtration goods is now worth billions of dollars on a global scale. We will look at the value of the bottled water industry in 2021, the size of the water filter market, the profitability of water companies, and how to set up a water bottle factory in this post. Market size for water filters
The global water filter market was estimated to be worth $12.6 billion in 2020, and from 2021 to 2028, it is projected to expand at a compound annual growth rate (CAGR) of 7.1%. One of the main causes of this growth is the rising demand for clean drinking water and the growing public awareness of diseases transmitted through the use of water.
Different product kinds, such as gravity-based, UV-based, RO-based, and others, are divided into market segments. With almost 40% of the market share, gravity-based water filters had the greatest market share in 2020. Due to its expanding population and growing awareness of the effects of water pollution, the Asia Pacific region is anticipated to dominate the market in terms of revenue and growth rate. Water companies’ profitability
Water firms are renowned for their consistent earnings and low bankruptcy risk. However, based on their size, location, and business approach, their profit margins differ dramatically. In the United States, the average profit margin for water supply and irrigation systems in 2021 will be 11.5%, according to a survey by IBISWorld. However, due to increased operating costs and a lack of economies of scale, smaller businesses may have lower profit margins. Value of the Bottled Water Industry in 2021 According to a survey by Grand View Research, the size of the global bottled water market was estimated to be $217.2 billion in 2020 and is projected to increase at a CAGR of 7.4% from 2021 to 2028. Among the main factors influencing this growth are the rising desire for convenience, health consciousness, and disposable money.
Due to the region’s expanding population and growing knowledge of the health advantages of bottled water, the Asia Pacific region is anticipated to dominate the market in terms of revenue and growth rate. However, the negative effects of plastic bottles on the environment and the growing acceptance of reusable bottles could limit market expansion in the future.
Setting up a factory to produce water bottles demands a sizable investment and knowledge of the production and marketing of bottled water goods. To ascertain the demand and potential profitability of the firm, market research and feasibility studies are the initial stage. Getting the required licenses and permits from local and state authorities is the next stage.
High-quality water, supplies for packaging, and equipment for bottling and labeling are all necessary for the production process. Among the possible distribution channels are online marketplaces, supermarkets, and convenience stores. The effectiveness of the company’s marketing initiatives, brand recognition, and product quality are all important commercial success elements.
The market for water filters is a sizable and expanding sector, propelled by increased awareness of water pollution and rising demand for clean drinking water. Water providers and the bottled water market are both lucrative industries with consistent earnings and little chance of bankruptcy. The future expansion of the bottled water industry, however, may be hampered by the negative environmental effects of plastic bottles and the rising popularity of reusable bottles. Setting up a factory to produce water bottles demands a sizable investment and knowledge of the production and marketing of bottled water goods.