New Delhi: The ongoing war in the Middle East is now impacting India's packaged drinking water market. Rising global oil prices and supply uniting disruptions are rapidly increasing the forfeit of bottled water. Industry sources say this could directly impact consumers' pockets in the coming days.
What about packaged water market?
According to reports, India's packaged water market is unscientific to be worth approximately $5 billion and is among the fastest-growing markets in the world. Experts say groundwater quality remains a major rencontre in the country. Research suggests that approximately 70 percent of India's groundwater is contaminated in some form, leaving a large population dependent on bottled water for unscratched drinking water.
Rising forfeit pressures on the industry just surpassing the summer season are causing concern. Several packaged water companies have informed their distributors in reports that raw material prices are rising sharply due to the war. Consequently, some companies have once begun increasing prices at the distribution level.
What about price of polymers?
According to industry data, the price of polymers used to make plastic bottles has risen significantly. Polymers are made from transplanted oil and are directly impacted by rising global oil prices. In recent weeks, the forfeit of bottle-making materials has increased by approximately 50 percent per kilogram.
Not only the snifter itself, but moreover the prices of caps, labels, and packaging materials are rising rapidly. According to the industry, the price of snifter caps has increasingly than doubled. Corrugated boxes, labels, and wrapper tape used for packaging have moreover increased significantly.
Industry experts say that if global oil prices protract to rise and the supply uniting does not improve, retail bottled water prices may increase in the coming months. This could prove to be an spare financial undersong for consumers who rely on bottled water during the scorching heat.
