South Korea Water Purifier Market


Ever since people have started valuing safe drinking water the demand for water purifiers has been on the rise. Since the early 1960s to the late 1990s South Korea one of the Asian Tigers, has been one of the fastest growing economies in the world.

Along with Hong Kong, Singapore and Taiwan, South Korea presently is still one of the fastest growing economies in the world. In comparison to the other Asian countries South Korea has adopted the western culture much earlier primarily because of their per capita income.

The unorganized sector in the South Korean water purifier market comprises of both small and local manufacturers. The unorganized players get a cost advantage but since the per capital income of the Koreans has been on the higher side the unorganized players could not gain much ground in the water purifier industry. Tremendous growth has been witnessed in the last three years in the water purifier industry in South Korea due to which the market size has doubled.

The reason for the growth of water purifier industry has been primarily due to the affordable rental system, increasing health consciousness of the public and increasing disposable income in the hands of the consumer. 

The recently published report by TechSci Research namely South Korea Water Purifier Market Forecast & Opportunities, 2017 has stated that the compounded annual growth rate in the South Korean organized water purifier market is around 16% which is expected to reach close to US$3.837 billion by the year 2017. market reserach The market is being led by RO based water purifiers which constitutes nearly 66% of the market share with about 1.068 Million units which had reached USD $ 1.00 Billion in the year 2011. The UV and UF have contributed with sales of USD $ 306 Million and USD $ 214 Million with 518 Thousand units and 1.7 Million units respectively in the year 2011 in South Korea. 

Reseller and direct sales are the major sales channels used for water purifiers which account for about 68% of the overall South Korean water purifier sales in 2011.

The water purifiers in South Korea have been priced on the higher side when compared to countries like India and China. The potential in the South Korean water purifier market is huge. To boost the growth rate prices must be decreased and the sellers must resort to product innovation on a continuous basis.

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Keywords :
water purifier market , market information , market study report


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