Rising smart innovation in the product category and surging health-related issues due to contaminated water are the cause of the South Korea water purifiers market growth.
According to TechSci Research report, “South Korea Water Purifier Market - Industry Size, Share, Trends, Competition, Opportunities and Forecast, 2018-2028F” The South Korea Water Purifiers Market is expected to grow during the forecast period owing to the factors such as growing convenience of availability of online presence of products like water purifier, rising innovation and investment within the product category and attractive offers by the manufacturing firms to its customers.
The development and changes in drinking water reflect the continuous improvement of people's drinking water quality and mark the increasing combination of water purification technology and water dispenser products. The concept of drinking natural water or tap water was widely popular among every household. But the rising awareness and pollution in water influenced people to shift towards carrying bottled water and usage of water dispensers. Therefore, the market is witnessing a significant shift towards usage of water purifiers and direct drinking machines.
Numerous public campaigns have been run to encourage people to consume tap water but have failed. Only 1% to 6% of people in Korea drink tap water. The leading causes of this mistrust in tap water are generalized anxiety about drinking tap water, lack of confidence in the cleanliness of the water pipe and tank, and the smell of disinfectant.
In other nations, the following percentages of people drink tap water: USA 56%, Canada 47%, and Japan 33%. The annual social cost of buying water purifiers and drinking water is 2.25 trillion won. However, 1,000 times more carbons is produced by drinking water than by Korean tap water (based on 500ml).
Browse over XX market data Figures spread through XX Pages and an in-depth TOC on "South Korea Water Purifier Market"
The South Korea water purifier market is segmented based on type, technology, application, distribution channel, regional distribution, and by competitive landscape. Based on type, the market is divided into Countertop, Under Sink, Floor Standing & Others {Tankless, Smart Purifier, etc.). By technology, the market is segregated into RO Filters, UV Filters, UF Filters, and Others (Media, Nanofiltration, etc.). By Business Model, the market is segmented into Rental & Open. By the application, the market is categorized into Residential and Commercial. Based on distribution channel, the market is segmented into Retail, Distributor, Direct, E-Commerce, and Others (Plumber, Contractor, etc.). South Korea Water Purifier market is studied in significant central, southern, and northern regions.
The market is divided into residential and commercial segments, based on end users. The residential users market segment will hold a sizable market share in anticipated years. Due to deteriorating water quality, rising urbanization, and rising incidence of waterborne diseases, the water purifier gained popularity among residential users. However, the commercial sector is anticipated to expand shortly due to an increase in the number of offices, schools, restaurants, and hotels, as well as an increase in the awareness of the benefits of purified water.
In terms of technology, the market is divided into RO, UV, UF, and others. The RO technology has the highest revenue share in the market in 2022. The pricey RO water technology is made to produce high-quality bottled water. These sophisticated filters are capable of 99% contamination removal. Due to their excellent barrier against damaging minerals, RO technology is strongly suggested for treating hard water. These RO technologies frequently block vital minerals like calcium, magnesium, and iron that affect water taste. Additionally, RO water purifiers must be serviced on schedule, which increases the overall maintenance of these products and ensures water quality.
Leading market players operating in the South Korea water purifiers market are:
- Coway Co., Ltd.
- Cuckoo Electronics Co., Ltd.
- ChungHo Nais Corporation
- SK Magic Co., Ltd.
- Korea Amway Co., Ltd.
- Kyowon Co. Ltd.
- Picogram Co., Ltd.
- LG Electronics Inc.
- Youngwoo Waterline Co., Ltd.
- CJK Alliance Co., Ltd.
To cater to the demand for water purifiers, various companies came up with the idea of a rental service to fulfill the requirement of South Korean customers quickly and conveniently. For instance, US water treatment giant Culligan is interested in a stake in Chungho Nais. Previously holding a 40% market share for water purifiers in South Korea, Chungho is now the fourth-largest domestic competitor. The largest water treatment company in the United States, Culligan, is slated to take a significant stake in Chungho Nais Co. This company rents out water purifiers in South Korea.
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“South Korea's demand for water purifiers has grown significantly due to rising water contamination, rapid industrialization, and unregulated wastewater discharge into water bodies. Primary water resources in South Korea have been contaminated due to the country's heavy rainfall and increasing flood incidents. These are the crucial factor influencing the demand for water purifiers within the Saudi Arabia market.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm”.
“South Korea Water Purifier Market by Type (Counter-Top, Under Sink, Floor Standing & Others {Tankless, Smart Purifier, etc.})), By Technology (RO, UV, UF, Others {Media, Nanofiltration, etc.}), By Business Model (Rental & Open), By Application (Residential, and Commercial), By Distribution Channel (Retail, Distributor, Direct, E-Commerce, Others {Plumber, Contractor, etc.})), By Region, Competition Forecast & Opportunities, 2028” has analyzed the future growth potential of South Korea water purifiers market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and assist decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with significant drivers, challenges, and opportunities in South Korea water purifiers market.
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