Emerging Economies are Expected to Present the Potential for Growth Opportunities in the Water Hardness Test Strips Market

Posted on 2021-01-08 by MarketsandMarkets in Food & Beverage // 0 Comments

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.

Request Sample Pages

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.

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.

Request for Customization

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

Key players are Thermo Fisher Scientific, Inc. (US), Merck KGaA (Germany), Danaher Corporation (US),LaMotte Company (US), Johnson Test Paper Ltd (UK), Serim Research Corporation (US), Avantor, Inc. (US), Isolab Laborgerate GmbH (Switzerland), Aqua Cure Ltd. (England), Cole-Parmer Instrument Company, LLC (US), Spectris (UK), Industrial Test Systems, Inc. (US), US Water Systems, Inc (US) Bartovation LLC (US), Colorkim Kimya (Turkey), Simplex Health (UK), Amity International (UK), Instruments Direct Services Limited (UK), Hangzhou Lohand Biological Co., Ltd (China), and Changchun Wancheng Bio- Electron Co., Ltd. (China).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Matched content

Editor’s pick