Demand for sustainable packaging means growing market for recycled plastics
Recent research suggests that the market for recycled PET plastic will grow to more than double in the next two decades, with a forecasted valuation of $17.2 billion USD by 2032. This growth is driven by rising demand for sustainable packaging solutions across various industries, particularly in food and beverage. The research highlights key trends behind the expected growth, such as increased recycling initiatives, regulatory support for sustainable practices, and advancements in recycling technology bolstered by consumer preferences for eco-friendly products. It also notes that major players in the market are focusing on expanding their production capacities to meet the growing demand. Read more about trends driving the growing recycled PET market.
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