The global dispensing jug market is expected to rise at a CAGR of ~6.1%, during the assessment period. A new forecast by FMI estimates that dispensing jug market revenues will nearly double between 2021 and 2031. The demand for dispensing jug will accelerate with top 5 providers holding 10-15% of global market in 2021.
Factors driving demand for the dispensing jug market is easy usage, portability, installation process and low maintenance cost. Scarcity of water in many regions has led to an increase in demand for safe drinking water subsequently leading to increasing in dispenser jug sales and increasing market growth.
Low maintenance along with simple cleaning processes contribute to the product demand. An increase in the number of purchases in summers and health concerns due to increasing water pollution levels will reinforce the product demand.
Increasing demand for clean storage of water, creating a healthy environment for the general public will augment the growth for demand for dispensing jugs in future. Portability and an easy cleaning process are clear advantages of dispensing jugs.
The need for cleaner water and the rise of microbial growth in water storage systems has resulted in the requirement of cleaner and safer storage products. Moreover, international companies are penetrating the market to produce technologically advanced products which are most likely to contribute towards the growth of dispensing jugs market.
United Nations SDG 2030 are making a change in the world from aspects of gender equality, clean water, sanitation, clean energy, sustainable energy and many more. The UN has vowed to complete these 17 development goals by the end of 2030, to fulfil our promise of making this world a better place for future generations to come.
SDG goal 6 clean water and sanitation, makes its focus on providing clean and safe water to people who are unable to drink clean water. Many countries in the African region has still far away from reaching this goal. In respect to the goals set by the United Nations many human welfare organizations are helping underprivileged people to drink safe water.
Multinational corporations are spending a large amount of CSR funds to support the supply of clean and safe water for the needy. All these factors will agitate the demand for dispensing jug market in the forecast period.
India being a developing nation is a long way towards reaching its goal of providing clean and safe water for all its citizens. The government of India has initiated local policies to enforce small scale industries to produce dispensing jugs made from Clay.
Earthen pots are a traditional tool that has been modified by the new generation and thus dispensing jugs made of clay has gained a lot of foothold in the country. These jugs are economical and keep the water cool & safe. It has also increased the local economy and given a livelihood to local craftsmen and women. Thus it is expected that India will hold a great proportion of dispensing jug market in the foreseeable future.
COVID-19 impacted the sales of the market in a degrading manner. With the disruption of raw material supply lines, the production of dispensing jugs was hindered in the pandemic. Sales of the dispensing jugs which is usually high in the summer time gained a negative growth due to the complete imposition of lockdown across countries to control the virus growth.
This halt in the demand for dispensing jugs slowly recovered with the opening of the trade route by the end of 2020. People became more aware of sanitation and cleanliness among their places, thus the target market started to recover by 2021. Overall dispensing jug market faced financial losses during the peak COVID-19 pandemic.
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Dispensing Jug Market
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