Plastic Packaging - By Product Type, By Distribution Channel and Forecast 2028

Products like food, beverages, oil, and other liquids are packaged in plastic. Due to their great performance, low cost, and extended durability, plastics are frequently used. Depending on the type of material being conveyed, plastics come in a variety of grades and material combinations, including polyethylene, polypropylene, and polyvinyl chloride, among others.

Modern packaging strategies that safeguard fragile goods and are inexpensive and easy to transport are being developed as a result of advances in Plastic Packaging. Due to its great chemical resistance and tensile strength, high-density polyethylene (HDPE) is frequently employed as a plastic packing material, which in turn finds extensive use in numerous end-use industries like the chemical and cosmetics industries.

The high penetration of organized retail has also significantly contributed to the large share of plastic packaging in the country. Globally, the packaged food & beverage sector has been experiencing robust growth for the past several years. Changing lifestyles, growing urban population, rising economical activities in emerging countries, and increasing penetration of e-retail across the world are a few macro factors driving the global packaged food industry.

Recent Development

• In February 2020, Amcor became a member of the Healthcare Plastics Recycling Council (HPRC), a group of peers from the healthcare, recycling, and waste management industries. The business will assist the alliance with its expertise in package design for medical devices and applications in hospitals and other treatment settings. From packaging design to collection methods and end markets, the industry group intends to address all aspects of the packaging value chain.
• In March 2020, Berry Global Group, Inc. announced a USD 30 million investment to expand its ultra-high performance stretch film production capacity. In nine of the company's North American locations that now make stretch films, the funds will be used to add new lines and upgrade existing assets.