Bottled Water Testing Equipment Market by Technology, Component and Region - Global Forecast
OREANDA-NEWS. MarketsandMarkets Offers Report by Research on Bottled Water Testing Equipment Market by Technology (Traditional, and Rapid), Component (Instruments, Consumables & Reagents, and Reference Material), Test Type (Microbiological, Chemical, Physical, Radiological), and Region - Global Forecast to 2021.
The bottled water testing equipment market, in terms of value, is projected to reach USD 6.46 Billion by 2021, at a CAGR of 5.3% from 2016. Rapid increase in consumption of bottled water, rise in disposable income, awareness about the effects of health due to contaminated water, increase in regulations regarding bottled water quality, and technological developments in the water testing industry are some of the factors driving this market.
The chemical test type is the largest and the fastest growing sub-segment among the test types. This is due to the high valued equipment associated with the chemical testing, such as chromatography. The increased usage of pesticides in the agriculture is depsited in the water which inturn is processed as bottled water. Also there has been a gradual increase of heavy metal testing in bottled water which is driving the spectroscopic equipment market. The frequency in purchase of consumables & reagents is much higher than the equipment.
The bottled water testing equipment market was dominated by the North American region in 2015. In the U.S., bottled water is outselling other packaged beverages on retail shelf in cities such as New York, Boston, Los Angeles, San Francisco, Las Vegas, Houston, Miami, and Washington D.C. With increase in FDA regulations governing the safety & quality of bottled water, there is a surge in demand for bottled water testing. The presence of most of the global players in the bottled water testing equipment market in the region has led to higher product availability in this region.
Asia-Pacific is the fastest-growing region for bottled water testing equipment due to the significant increase in the demand for bottled water The region is emerging as a huge market for bottled water testing due to increasing awareness towards water contaminant s and their impact on health. The boom in the bottled water market has resulted in an emergence of unregulated and unauthorized companies that source water from improper sources and have been selling them without proper treatment. This has stimulated the need for bottled water testing and in turn the growth of the testing equipment market.
The high cost of testing equipment is one of the greatest challenges in the equipment market. Also the adoption of advanced testing methods is proportional to the price of the sample testing. the water testing laboratories and bottled water manufacturers find it challenging to adapt to the varying methods and principles of upgraded technology. Negative environmental impacts such as uncontrolled usage and littering of PET containers is one of the bigger challenges in the growth of bottled water industry.
Some of the key players of the bottled water testing equipment are Agilent Technologies Inc. (U.S.), Waters Corporation (U.S.), Thermofisher Scientific (U.S.), (Perkin Elmer Inc. (U.S.), Sigma-Aldrich Corporation (U.S.), Bio-Rad Laboratories (U.S.), Shimadzu Corporation (Japan), Restek Corporation (U.S.), Danaher Corporation (U.S.), Hitachi High-Technologies Corporation (Japan), Accepta (U.K.), Lamotte Company (U.S.), and Idexx Laboratories (U.S.) in 2015.