The global packaging resins market is set to gain traction from the ongoing development of unique packaging methods and materials. Bioplastic is nowadays used in the plastic packaging sector. It is produced from sustainable sources, such as agricultural by-products, corn starch, woodchips, and vegetable oils. In February 2021, Milliken and Company’s Chemical Division, for instance, joined the Global Organization for PHA. It aims to address the market development and technical challenges associated with PHA biodegradable biopolymers. This information is given by Fortune Business Insights™ in a report, titled, “Packaging Resins Market, 2021-2028.” The report further states that the market size was USD 189.03 billion in 2020. It is projected to grow from USD 202.46 billion in 2021 to USD 326.56 billion in 2028 at a CAGR of 7.1% in the forecast period.
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