Blue Star, which recently introduced its residential water purifiers, is targeting 10 per cent market share in the next three years.
CP Mukundan Menon, President – Sales and Marketing, said the water purifier market in India is largely under-penetrated with hardly 6 percent of the population using it. There is huge potential for growth,, which can go up to 25 per cent in the next 10 years.
Growing demand
He told reporters here that the market for pure drinking water has been on the rise mainly due to deterioration in the quality of water, resulting in a spurt in water-borne diseases. There is over-dependence on groundwater, which has significant levels of dissolved impurities. The residential water purifier market in the country is pegged at about ₹4,200 crore and is growing at 15-20 percent. About 2.6 million units sold every year are electric such as RO,UV, RO+UV and its variants. In terms of value, due to their higher price points, electric purifiers have about 85 percent of market share and the rest are gravity based purifiers, he said while launching a range of differentiated water purifiers in the Kerala market.
The company is also test marketing a range of commercial water purifiers to cater to the growing demand for purified water in offices, restaurants, clinics and commercial establishments, Girish Hingorani, Chief Marketing Officer, Water Purifiers Division, said.
The company has also plans to invest ₹35 crore in FY19 in terms of advertising and sales promotion, he added.