Global water testing market is is projected to grow at a CAGR of 7.33% during the forecast period (2020 - 2025).
- In the developing countries like India, owing to the increasing consumer awareness, they are expecting the consumable water should be safe and of high nutrition value. The rise in consumption of bacteria and chemical free water is driving the demand for water testing equipment’s across the globe.
- The increasing regulatory support and legislation for high standard maintenance of food and beverage products, pharmaceuticals and other industries, are further increasing the application of chemically tested water.
Key Market Trends
Growing Demand for Bottled Water
The growing demand for bottled water can be attributed to consumer demand for high-quality drinking water, the fear of diseases as an aftermath of drinking contaminated tap water, and the easy portability and convenience provided by bottled water. Environmental pollution caused by plastic trash poses a challenge for the market’s growth. The consumption of bottled water leads to health hazards. However, the introduction of eco-friendly packaging and flavored water with regulated ingredients can provide an opportunity for the market growth.
Asia-Pacific Witnessed a Significant Market Growth
The government of the developing countries like India and China are imposing stringent government regulations on the usage of water in various food & beverage products and is, therefore, posing as a barrier to entry for companies producing food, beverage, pharmaceutical products, where the application of the tested water is the highest. The government wants these companies to set up the water testing equipment in their factories and test the water according to the fixed norms.
Key players are focusing on the expansion of facilities and product portfolio, due to the growing demand for tested water in its application industry. Some of the major key players in the water testing market, globally includes SGS SA, Eurofins Scientific, Intertek Group plc, Merieux NutriSciences, TUV SUD, ALS Limited, among others.
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