WaterScience Foresees Exponential Demand Growth in Non-drinking Water Filtration Segment
The total addressable market for non-drinking water filters in India is estimated at USD 3 billion
Waterscience, a Bengaluru-based direct-to-consumer (D2C) startup that markets a range of water purification solutions, today announced that it expects to double its growth rate to touch revenues of Rs 100 crore in the next three years.
The company estimates the Total Addressable Market for Non-drinking Water Filters to be at USD 3Bn with bath filters accounting for USD1.5 billion, appliance filters for USD 0.5 billion, and whole-house systems estimated at half a billion USD. Currently, about 400,000 households use the company's products.
Pavithra Rao – Co-founder- WaterScience, said, "Access to safe water is essential to the health and wellbeing of the population. While the drinking water market is growing at 21% CAGR from 2018 to 2023 and is at around 5000 crores in 2022, we can expect the non-drinking water segment to grow at an exponential rate over the next few years as awareness grows. As water availability and quality get more challenging, point-of-use filters and water-saving devices will be as ubiquitous as drinking water filters."
She added, "We've seen considerable demand, especially from metros such as Bangalore and the NCR region that have a higher percentage of urban population and a larger percentage of the population residing in apartment communities. Given that nearly 95% of the water that is consumed is for non-drinking purposes like cleaning, bathing, laundry etc., finding ways to conserve water and find sustainable solutions is critical."
Launched in 2016, WaterScience manufactures filters that purify water for non-drinking use cases, its offerings include a wide range of products such as filters for showers and taps, washing machines, and kitchens, as well as main water lines. The company has raised funding from Velocity.in, a revenue-based financier and Aditya Somani, a veteran PE professional and angel investor.