by The global water filter jug market is witnessing tremendous growth owing to the increasing awareness about waterborne diseases and sustainability. Water filter jugs offer a convenient and cost-effective way to get clean and safe drinking water from tap water at home. These jugs filter out impurities and contaminants like bacteria, fluoride, heavy metals, pesticides, and chlorine to provide clean filtered water. Rising health consciousness among consumers and a growing desire to avoid plastic bottled water have boosted the adoption of water filter jugs in households.
The global water filter jug market is estimated to be valued at US$ 881.36 Mn in 2023 and is expected to exhibit a CAGR of 5.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends spurring growth in the water filter jug market size is the increasing popularity of portable water filter jugs. These portable water filter jugs allow users to carry clean drinking water while traveling, hiking, camping etc. Their compact design and ease of carrying has heightened their demand. Another notable trend is the rising demand for advanced water filter jugs with multi-stage purification. These advanced jugs offer purification at multiple stages to remove more contaminants and provide better tasting water. Manufacturers are increasingly focusing on producing jugs with advanced filtration technology, activated carbon filters, and UV light disinfection to meet this demand for highly purified water.
Porter’s Analysis
Threat of new entrants: Low as this is a growing market with requirement of high capital expenditure and brand recognition.
Bargaining power of buyers: Moderate as there are various brands available but buyers are more loyal to quality and trusted brands.
Bargaining power of suppliers: Moderate as raw materials like plastic are available easily but quality suppliers are limited.
Threat of new substitutes: Low as there is no close substitute for water filter jugs which can filter and store water.
Competitive rivalry: High among existing players to gain more market share through product innovation, brand promotion and penetration in new markets.
Key Takeaways
The global Water Filter Jug market is expected to witness high growth. The global water filter jug market is estimated to be valued at US$ 881.36 Mn in 2023 and is expected to exhibit a CAGR of 5.8% over the forecast period 2023 to 2030.
Regional analysis: North America represents largest market for water filter jugs led by United States. Asia Pacific is fastest growing market with countries like China, India and Japan among major consumers. Stringent regulations regarding usage of purified water in various end use industries is supporting market growth in European region.
Key players: Key players operating in the water filter jug market are 3M Company, Dow Inc., Saint-Gobain, Freudenberg Group, Cooper Standard Holdings Inc., NITTO DENKO CORPORATION, Henniges Automotive Holdings, Inc., Lauren Manufacturing, Hebei Shida Seal Group Co. Ltd., Zhongshan Zhensheng Rubber Products Co. Ltd., Yitong Sealing Material Co. Ltd., Elasto Proxy Inc., KOMPOZIT’KOMPLEKT LLC, Edgetech Europe GmbH. Major players are focusing on new product launches and geographic expansion to gain more market share.
