Water Dispenser Market Growth & Trends
The global water dispenser market is expected to reach USD 5.34 billion by 2030, expanding at a CAGR of 8.9% during the forecast period, according to a new report by Grand View Research, Inc. The market growth is largely driven by the demand for water dispensers with characteristics such as portability, easy usage and installation process, and minimal maintenance costs.
The scarcity of drinking water in several regions requires robust sources to meet the rising demand for safe drinking water which leads to increased product sales, thereby driving the market growth. Rising awareness regarding the availability of energy-efficient products also drives the industry’s growth.
For instance, in June 2021 Global natural water brand Evian launched Evian (re)new. Designed by Virgil Abloh, fashion designer and creative advisor for Sustainable Innovation Design at Evian, the product features five-liter bubbles that consumers place onto a base. The design is made from 100 percent recycled plastic. Notably, the bubble’s “skin” is created with 60 percent less plastic than if it was held in equivalent plastic bottles.
The bottled water dispenser segment is observed to occupy the largest market share in the market during the forecast period. One of the significant driving factors for bottled water dispensers is that they do not require piping assembly. In addition, these dispensers can be installed anywhere as per the customer’s preference. Moreover, the installation cost is drastically reduced as compared to bottle-less dispensers, where the customer needs to set up a piping layout and make other necessary operational arrangements. The rising demand for bottled water is the key factor driving the segment growth. Moreover, lower initial costs along with easy installation and low maintenance requirements are likely to augment the product demand.
The market is characterized by the presence of several well-established players, such as Primo Water Corporation; Whirlpool Corporation; Waterlogic Holdings Limited; Voltas Limited; Culligan International Company; and Honeywell International Inc. These players account for a considerable market share and have a strong presence across the globe. The market also comprises small-to-midsized players, which offer a selected range of water dispensers and mostly serve regional customers.
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Water Dispenser Market Report Highlights
The water dispenser is anticipated to grow at the rate of 8.9% from 2022 to 2030 owing to the high demand for water dispensers with characteristics such as portability, easy usage and installation process, and minimal maintenance costs
The bottle-less segment is anticipated to grow at the fastest rate during the forecast period. These do not require any loading or unloading of water bottles on the machine, which is a key factor propelling the segment growth
The commercial application segment occupies the highest market share during the forecast period, owing to the great demand for the provision of instant hot and cold water and their convenient dispensing functions have made them vital in many businesses and offices
The hospitality sector has the highest CAGR. Multiple water dispenser manufacturers are serving the hospitality industry with innovative designs and high aesthetic value, which can easily be installed in hotel lobbies, conference rooms, and premium restaurants
North America is the largest consumer of bottled water dispensers in the world. The U.S. is one of the largest consumers of packaged water and people are increasingly opting for purified water bottles instead of tap water. In addition, water dispensers are considered essential appliances in both, residential as well as commercial sectors
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