Market Leader - Water Hardness Test Strip Market
According to MarketsandMarkets, the water hardness test strip market is estimated to be valued at USD 56.5 billion in 2020 and is projected to reach USD 70.2 billion by 2025, recording a CAGR of 4.4 %, in terms of value.. Rise in number of industrial establishments and surge in rate of urbanization are the two key factors that drive the value sales growth for water hardness test strip market.
Emerging economies are expected to present the potential for growth opportunities in the water hardness test strips market. The market for water hardness strip testing in emerging economies can also be linked to the rapid industrialization, booming food trade with Europe (free trade agreements) and North America, a high proportion of the population that drives domestic consumption of food & beverages that utilize better quality water, and the growing regulatory focus on protecting consumer well-being. These have led to increasingly stringent enforcement of laws on food & water safety and the environment (water protection acts). An increase in industrialization in regions such as the Asia Pacific and Africa has increased awareness among people regarding water pollution and degradation. This has resulted in the implementation of numerous water quality protection acts, which are the key opportunities for the water hardness test strips market.
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The calcium concentration measurement by type segment is the dominating and fastest growing for the water hardness test strip market. The products availed by the key manufacturers in the global market are designed specifically to determine the calcium content in the water.
The retail segment is expected to witness significant growth rate in terms of value sales during the forecast period. For the water hardness test strip market, the household sector as well as swimming pool sector are the new set of customer which gain access to the product through key retail channels such as the online store as well as specialty stores. Hence the generating revenue through retail channel paves way for lucrative opportunities for the market.
Asia Pacific is projected to witness the fastest growth in the water hardness test strip market during the forecast period due to the globalization of business and technological innovations in water treatment segment. The robust demand scenario of the region propels the growth trajectory of water hardness test strips in the region. India, Australia & New Zealand, and Southeast Asia are some of the regional hotspots exhibiting the highest growth rate in that order for the sales performance of water hardness test strips
Related Reports:
Water Hardness Test Strip Market by Type (Calcium concentration measurement, magnesium concentration measurement), Application (Industrial, Laboratory, Others), Sales Channel (Retail & Non-retail), and Region - Global Forecast to 2025
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