An escalating population of health-conscious consumers and the health benefits of consuming functional water attributed to the presence of minerals, vitamins, herbs and other essential elements drives the functional water market. In addition, an increasing rate of obesity, diabetes and other diseases is compelling consumers to avoid sugary soft drinks has resulted into a positive impact on the global functional water market. Functional water market is expanding rapidly owning to change in beverage consumption habits, preference has shifted from high sugar, carbonated beverages to functional water. Major restraint for functional water market is its fluctuation in cost. Customer's bargaining power has increased due to the availability of abundant substitutes and low switching costs.
Functional Water Market
PET bottle is major contributor attributed to its versatility, attractiveness, lightweight, recyclable nature and ease in transportation. Glass bottles are heavyweight and non-recyclable and its use glass for water packaging is not economical. Development in the technology of PET packaging is expected to reduce overall production cost, bringing flexibility for different shapes.
Supermarkets are major shareholder owing to growing customer's preference to visits stores. The considerable increase in online sale is predicted due to the presence of a better online platform, discount offers and ease in delivery will drive product demand.