According to TechSci Research report, “South Korea Water Purifiers Market –By Region, Competition Forecast & Opportunities, 2018-2028F,” the South Korea water purifiers market is forecast to grow at an impressive CAGR of around 5.62% in the forecast period due to increased health concerns and consumer awareness towards safe drinking water, and industrialization, as well as government initiatives and campaigns. Furthermore, the growing number of water-borne diseases, particularly in South Korea, is further driving the market in the forecast period.
Korea has been designated by the United Nations as a water-stressed country in the world, and public distrust of tap water runs deep, and the business of bottled water that people can safely drink is booming, and water purifiers are becoming essential. As the functions of water purifiers have become more diversified, such as increasing the mineral content beyond just filtering water with a filter or producing weakly alkaline water through electrolysis, the number of people buying water purifiers is increasing.
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Industrial activities release various pollutants into the environment, including heavy metals, chemicals, and other contaminants that find their way into water sources. Industrial pollution has raised awareness among consumers about the potential contamination of water sources. South Korean citizens are becoming increasingly conscious of the need for safe and clean drinking water due to the potential health risks associated with industrial pollutants. This heightened concern has led to a higher demand for water purifiers as a means to address and alleviate these worries which is driving the market of water purifiers in South Korea during the forecast period.
There are mainly two ways for consumers to use water purifiers: rental and purchase, and more than 60% of the current water purifier market is using the rental method of renting a water purifier in South Korea in which consumer pays the rental fee every month after paying an initial deposit in the form of a membership registration fee.
The water purifiers provide instant access to clean and purified water without the need for plumbing modifications or complex installation. Counter-top water purifiers in South Korea often employ advanced filtration technologies like activated carbon filters, ceramic filters, and reverse osmosis membranes. Furthermore, companies are launching new products to remain competitive in the market. For instance, in 2023, Kyowon Wells launched ‘Wells Water Purifier Super Cooling’ in South Korea. The water purifier consists of LED lighting display, 4 water temperature display functions and 3-step water output display. It also has various features, such as a 2-stage cold water mode, which are not found in regular water purifiers.
The South Korea water purifiers market is segmented on the basis of type, technology, application, aftermarket v/s new product sales, distribution channel, region and competitive landscape. On the basis of type the market is fragmented into counter-top, under sink, floor standing, point of entry, others (pitcher, faucet mount, etc.). Based on technology, the market is fragmented into RO, UV, UF, others. Based on application the market is divided into residential, commercial. Based on distribution channel the market is segmented into retail, distributor, direct, e-commerce, others (plumber, contractor, etc. On the basis of region, the market is divided into Northern, Southern, Central.
The major portion of the water purifier market in South Korea is held by the counter-top water purifier as counter-top water purifiers are compact and can be easily placed on tabletops or kitchen counters.
Key market players in the South Korea Water Purifiers market include:
- Coway Co., Ltd.
- LG Electronics Co.
- Ltd., 3M Korea Co., Ltd.
- SK Magic Co., Ltd.
- ChungHo Nais Co., Ltd.
- Cuckoo Electronics Co., Ltd.
- Kyowon Property Wells Co., Ltd.
- WACO Corporation
- Amway Korea Co., Ltd.
- Picogram Co., Ltd.
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“The market for water purifiers in South Korea is booming due to the growing consumer awareness, urbanization, industrialization and government initiatives. Market players are adapting to the changing needs of consumers by offering technologically advanced and advanced products, including rental services. To maintain a competitive advantage, companies actively seek collaboration and strategic partnerships. Moreover, advanced cleaning technology in water purifiers is driving the market in South Korea during the forecast period.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“South Korea Water Purifier Market Size, By Type (Counter-Top, Under Sink, Floor Standing, Point of Entry, Others (Pitcher, Faucet Mount, etc.), By Technology (RO, UV, UF, Others), By Application (Residential, Commercial), By Aftermarket V/s New Product Sales, By Distribution Channel (Retail, Distributor, Direct, E-Commerce, Others (Plumber, Contractor, etc.)), By Region, By Company, Forecast & Opportunities, 2018-2028F”, has evaluated the future growth potential of water purifier market in South Korea and provides statistics and information on market structure, size, share and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment decision. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities present in South Korea water purifiers market
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