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SAN FRANCISCO, March 8, 2021 /PRNewswire/ The global plastic packaging market size is expected to
reach USD 486.2 billion by 2028, according to a new report by Grand View Research, Inc., registering
a CAGR of 4.2% from 2021 to 2028. The rapid expansion of the food & beverages, personal care, and pharmaceuticals sectors coupled with the rising penetration of organized and e-retail across the world is expected to fuel market growth.
Low-density Polyethylene (LDPE), Polypropylene (PP), High-Density Polyethylene (HDPE), and Polyethylene Terephthalate (PET) are the most widely used materials for the manufacturing of products, such as bottles & jars, trays & containers, wraps & films, and pouches, as they are cost-effective, lightweight and have extensive functionalities and strong barrier properties against moisture. Growing demand for sustainable packing solutions is prompting manufacturers to use recycled plastic resins to make such products.