Market Research Report
Global Bottled Water Testing Equipment Market - 2022-2029
|Global Bottled Water Testing Equipment Market - 2022-2029|
Published: May 7, 2022
Content info: 190 Pages
Delivery time: 2 business days
Water testing is the most critical requirement, given the rise in bottled water consumption. Water testing encompasses a variety of methods for determining the quality of water for final manufacturing, including chromatography, spectroscopic, radiological, and chemical treatments. The emergence of new technologies methods of testing water has prompted various bottled water manufacturing companies to purchase more machines and water testing equipment that can examine the quality of the bottled water, thereby increasing the flow of money into the market and, as a result, increasing the market size over the forecasted period. The global bottled water testing equipment market was valued at USD XX million in 2021. It is forecasted to reach USD XX million by 2029, growing at a CAGR of XX% during the forecast period (2022-2029).
Market Dynamics: Rising health consciousness to boost the consumption of bottled water
Because of rising health awareness and the benefits of bodily hydration, global use of bottled water has surged over the previous decade. According to IBWA, Americans consumed 15 billion gallons of bottled water in 2020, up 4.2 percent from 2019 (compared to 3.7 percent increase the previous year). That means, on average, each American drank 45.2 gallons of bottled water in 2020, a 3.5 percent increase over the previous year. In addition, bottled water's retail dollar sales grew in 2020, up 4.7 percent, reaching $36.3 billion. Several government organizations and health federations in developed and developing nations are advocating for policies and laws to encourage and adopt national water intake and hydration guidelines. According to the European Food Safety Authority (EFSA), the optimal water intake for a woman is 1.6 liters per day. For men is 2 liters per day, which helps maintain cognitive and normal physical functions and thermoregulation in the body.
On the other hand, one of the most significant obstacles in the bottled water testing equipment market is the high cost of test equipment. The cost of sample testing is proportional to the adoption of advanced testing procedures. Water analysis laboratories and bottled water makers have trouble adapting to new technology's diverse approaches and concepts. Negative environmental effects, such as unregulated use and waste in PET packaging, are one of the most significant obstacles to the bottled water testing industry's expansion.
Market Segmentation: Chemical testing is the dominating segment in global bottled water testing equipment market
Chemical water testing, a sub-segment of the test type, is increasing at the quickest rate of all the segments. This is owing to the availability of high-value equipment for water chemical testing, such as chromatography. The increased use of pesticides by farmers in agricultural areas, which end up in the river, has pushed the introduction of radiological and chemical water testing. A growth in the usage of heavy metal testing in bottled water is driving the market for spectroscopic equipment, a sub-segment of the technologically classified industry under advanced technology. The frequency of acquiring consumables and reagents is substantially higher than that of other equipment in the component market sector, owing to an increase in the testing and inspection of chemical compounds found in water.
Geographical Penetration: North-America is the dominating region during the forecast period
In 2021, the North American area will dominate the global market. In New York, Boston, Los Angeles, and Washington, D.C., bottled water is outselling other packaged beverages on the retail shelf. There is a boom in demand for bottled water testing due to increased FDA rules governing the safety and quality of bottled water. Moreover, the presence of the majority of global competitors in the bottled water testing equipment market has resulted in increased product availability.
With a CAGR of XX percent, Asia Pacific is the fastest-growing market. Due to growing awareness of water contaminants and their impact on health, this region is becoming a major market for bottled water testing equipment. The growth of the bottled water industry has resulted in the creation of unregulated and unauthorized businesses that source water from unsanitary sources and sell it untreated. This has increased the demand for bottled water testing, and, as a result, the market for testing equipment has grown. With an increase in consumer knowledge in developing nations like India, customers are demanding that bottled water be safe, pure, and high in nutritional content. Moreover, individuals rising lifestyles and incomes in APAC, as well as their growing worry about health issues, have boosted the market's overall expansion.
Key market players operating in the global bottled water testing equipment market include Agilent Technologies Inc., Bio-Rad Laboratories, Inc., Waters Corporation, Thermo Fisher Scientific, Inc., PerkinElmer Inc., and Shimadzu Corporation among others. Market players are adopting strategies such as product launches, mergers & acquisition and partnerships among others, to gain a significant market revenue share. The level of competition among the companies that manufacture bottled water testing equipment is intense, owing to which these companies need to undertake several new paths as well as strategies to maintain their position in the bottled water testing equipment market.
COVID-19 Impact: Negative impact on the global bottled water testing equipment market
The coronavirus outbreak is expected to limit investments in the water treatment industry worldwide. COVID-19 has provided the world's most serious public health crisis to date. Lockdowns induced by the COVID-19 outbreak forced consumers to put off getting their water tested, affecting the number of tests done and sales of instruments, consumables, and reagents. The global bottled water testing equipment market had a deficit during the COVID-19 issue due to disruptions in the supply chain and demand due to most nations' lockdowns. However, as governments increasingly loosen travel restrictions, there is a rebound in testing numbers.
The global bottled water testing equipment market report would provide an access to approximately 65 market data tables, 60 figures and 190 pages