Background:
The global market size for home water filter systems reached $11.48 billion in 2020 and it is projected to skyrocket at a compound annual growth rate (CAGR) of 15.9%, reaching a staggering market size of $24.11 billion by 2025. Just imagine the incredible potential and opportunities that lie within this booming industry.
In the United States, safe drinking water has become a mission critical project for both state and federal governments. Between 2017 and 2021, they allocated a budget of over $25 billion to ensure access to clean and safe drinking water. In 2022, the US government passed the infrastructure law with a budgeted funding of $50 billion for the EPA to tackle clean drinking water.