TECHNICAL STUDIES

PROJECT MANAGEMENT

PRESENTED BY:
DESAITH AURELA, FELIPE ORTEGA AND KAREN PEREIRA

BARRANQUILLA, COLOMBIA
SEPTEMBER 27, 2019

UNIVERSIDAD DEL NORTE

BUSINESS SCHOOL
BUSINESS ADMINISTRATION
CONTENT
1 Lean canvas ..................................................................................................................................................................... 2
2 Market Analysis ............................................................................................................................................................... 3
3 Business Technical Research for The Feasibility Study ................................................................................................... 9
3.1 Location and Technology Investments ................................................................................................................... 9
3.2 Require Fixed Investment ..................................................................................................................................... 10
3.3 Working Capital Investment Requirements .......................................................................................................... 11
3.4 Unit Prices and Cost of Products Or Services ........................................................................................................ 12
3.5 General, Administrative and Selling Expenses ...................................................................................................... 13
3.6 Growth Opportunities and Expected Future Investments.................................................................................... 14
4 References .................................................................................................................................................................... 15
 TECHNICAL STUDIES
1 LEAN CANVAS
2 MARKET ANALYSIS

2.1 CRITICAL RISK FACTORS

 Describe critical risks faced by the enterprise (currently or in the future). Much of these
components will arise from the SWOT and PEST analysis. Examples include internal
characteristics, uniqueness, investment, economic forecasts, change in regulations and
technical obsolescence, etc.

Strength: Weaknesses:

-Work with efficient with -Little experience

different types of products in
search of benefits for the
environment.
- Little recognition of the
- Capacity for flexibility and corporate image
adaptability according to what
society demands

- Solve environmental problems

creatively

Opportunities: Threats:
- Consumer indifference, for
-Environmental trend and boom being a startup

-People more interested in

caring for the environment -Macroeconomic conditions
such as inflation, the exchange
- Companies more committed to rate, the Gross Domestic
the environment Product (GDP).

-Demand for organic products

are increasing
 P E S T
-Sustainable -Inflation -Age of the -Speed of
development policies population: Not older innovations: Access
-Devaluation of the than those born to new technologies.
-New government peso against the before 1990.
with sustainable dollar -New forms of
ideals: -Geographic location production and
-Economic policies of the population: distribution of goods.
of the current Villages, Cities,
government Megacities.

-Financing sources. -Educational level:

None, primary,
secondary,
professional.

-Adaptation to new
consumption habits.

Unique Benefits

Among the main benefits of the company BIOWORLD FDK are:

- For companies: exclusive service of purchasing advice and training of RRR (Recycle, Reduce
and Reuse) to incur principally corporate social responsibility.

- The manufacturing time of a single-use product such as cigarettes and plastic bags is
approximately 10 to 15 minutes but they degrade in 150 years, the life span of biodegradable is not
more than 10 months, which It will contribute to the reduction of garbage in cities, forests, rivers
and seas.
- The value of the product is proportional to its quality and its responsibility to the environment.

- Help the environment guarantees to preserve health and become responsible citizens to
safeguard nature and human life.
- Without oil (Petroleum) in the products, more money is saved and health is taken care of.

- It is essential for companies to understand that the resources with which goods and services are
generated must be taken care of, in order to raise awareness.

The unique benefits are linked to the client's interest in preserving the environment and taking
care of their health using biodegradable products, as well as acquiring recognition for not
contaminating and to contribute to recycling. In the same way, companies seek to reduce the
pollution caused, and thus benefit society.
 Greenpack S.A.S. It is a Colombian company which has reference to compare the benefits that
must be attended by customers, this company is based on the manufacture, design and marketing of
biodegradable packaging, composting, recyclable and sustainable. Greenpack, its products,
customers and results, serve to guide us in terms of objectives and benefits, since it seeks to create
a worldwide conscientious and has managed to position itself in the market.
On the other hand, the pain point of the target market focuses on:

- The cost, biodegradable products have a slight price increase compared to non-biodegradable
products, however our target market with its preferences and ideology prefers to invest in the
product and not contaminate. (home economics and environment, 2016)

- The misinformation of people, it is not clear the consequences of non-biodegradable products

for the environment and the health of people, but if these consequences are reported, it will generate
a consciousness that will aim to acquire biodegradable products.

-Environment and health, it is not a secret for anyone that these two issues are constantly evolving
and that every day is more evident, so it is necessary to take concrete measures in which a change
can be made. Among these actions, biodegradable products are a successful and effective option.

2.2 MARKET POTENTIAL

Nowadays peoples i more intereses in helping the planet

Of course people star realizing that this is planet ins the only place we can live

Acordint to a magazine call the financial eight of ten consumers are looking for products more natural, ornic, or
sustainable

De esta manera podemos darnos cuenta de que es un mercado que está floreciendo.

El mercado potencial son todas las personas e instituciones que se preocupan por el medio ambiente, instituciones
como escuelas, hospitales, supermercados y especialmente restaurantes.

Actualmente, este mercado está en competencia perfecta porque no hay grandes empresas con el llamado monopolio,
por lo que la oferta y la demanda son responsables de regular los precios.

Barreras de entrada:

-Altas inversiones, que se convierten en una barrera de entrada, debido a la gran inversión que este tipo de productos
especializados debe tener para el productor.

-Alta necesidad de capital de trabajo, es decir, maquinaria, inventario, con el que los procesos se pueden llevar a cabo
de manera eficiente.
Las barreras legales, para que un producto sea certificado como biodegradable o compostable, debe cumplir con ciertos
requisitos y pruebas, establecidos por ley.

2.1 PRODUCT OR SERVICE DETAILS

This opportunity has developed over time, mainly since the 2000s, where generations will begin to
be more aware and also realize that there is only one habitable planet and it is the earth. As ti me
goes by, the market is going Strengthening. According to (THE FINANCIAL, s.f.) eight out of ten
consumers are looking for some more natural, organic or sustainable product globally and more
paganly, in addition to a 50% inclination for green products dependent on prices: They are more
sensitive to costs (24%) and others who buy if it means a real difference in the budget (26%). In this
way we can realize that it is a market that is indeed flourishing. On the other hand, with the tendency
of the increase in the price of pain it is expected that the manufacture and consumption of
biodegradable products will increase propositionally. According to a study published by Eurominor
"The market for biodegradable products is currently US $ 25 billion a year and, except for a fall in
oil prices, biodegradable packaging will become cheaper and, therefore, more attractive for its users
than petroleum-based plastics "(Euromonitor, 2015). This trend being a great opportunity to reduce
waste in the streets of cities, sewers, rivers, etc. The potential market is all people and institutions
that care about the environment, institutions such as schools, hospitals, supermarkets and especially
restaurants

Currently this market is in perfect competition because there are no large companies with a so-
called monopoly, so supply and demand are responsible for regulating prices. For other hand we
can find two types of barrier:

Entry barriers:

-High investments, which becomes an entry barrier, due to the large investment that this type of
specialized products must have for the producer

-High need for working capital, i.e. machinery, inventory, with which processes can be carried
out efficiently.

-Legal barriers, in order for a product to be certified as biodegradable or compostable, it must

meet certain requirements and tests, established by law.

The environment gives us essential resources for the human being to survive, that entails a
great commitment, on which the quality of life depends on current and future generations.
Therefore, it is considered that the imperative need is to take care of the environment, save the
planet, every day we see how it is being destroyed due to pollution, we must prevent this from
 happening, which leads us to the main objective of the company take care, and ensure strict
care of the environment by people and companies. The company aims to help solve the
problem of pollution that we have been suffering so much, since our products are mainly based
on taking care of the environment.

Other aspects to analyze in the potential market are:

-Social: the company will aim to have clients that are interested in caring for the environment,
whether they are natural persons or companies that want to be part of this new movement.

-Emotional: it is important to have a reciprocal relationship with customers, give and receive
in a good way, which shows that your shareholder to buy the products is contributing to reduce
pollution and contribute to the conservation of the environment.

-Intellectual: In addition to selling products and generating utility and empathy, we help
customers show the truth that they are agreeing on value and are part of the group of people
who are solving a problem worldwide.

2.2 PRODUCT OR SERVICE DETAILS

Performance:
-Durability, the ideal of these products is that they disappear as quickly as possible, that is,
durability is low

-Quality of the materials, the quality that will be handled will be at medium level, with the
objective that they meet their basic objectives, we will focus on making products with standardized
processes in order to preserve their quality
-Defect levels, relying on mass production will give us the advantage of keeping defect levels low
- Reliability, we will work with the objective that the products are of total reliability
-Efficiency, the different products will have the ability to adequately fulfill their function

-Design, basic designs will be managed to reduce costs and also taking into account that the
products (bags, bottles, glasses, cigarettes, etc.) do not require complexity in their designs, generic
and customized designs will be handled for organizations

Availability:
-Availability, the products will be available in stores, for the use of natural persons, as well as in
different sites such as hospitals, schools, super markets, for business use.

-Quality of service available from the local distributor, the ideal that is handled is to have an
excellent quality when providing our products, so that the different customers are satisfied

Social:
-Brand reputation, we will focus on having an excellent reputation through the quality of products
and mainly we will seek that our reputation is focused on the care of the environment
-Fashion, we will attend to the environmentalist trend

-Quality certification, we will be certified to be able to manufacture and market biodegradable,

compostable and environmentally friendly products

Environment:
- Waste, we will implement waste reuse policies
-Atmosphere, we will direct our processes to the environmental care and awareness of society

-Design, totally ecological designs will be handled, normally we will use generic designs, however,
we will have customized design lines for different companies

2.3 CONSUMER MARKET

Our consumer market are common people. People who buy single- used products like
bottles, expanded polystyrene silverware and containers, but also people who are clients for our
first target market “Small and medium companies”. People of both gender without any distinction
of age or race. People from all levels of education and occupation because our product are daily
used products that everybody use like bags, bottles, straws and food containers. The most
important aspect is that they are people who are worry about consumption and the impact it has in
the near future, people who believe we can stop polluted the world using plastic and think in the
long – term way about the well- being of humankind.

Most people use plastic just for conform. It is a simple an easy way to package a food or a
product, carry stuff and throw the thrash, so they do not want to change this conform. So, in fact
people just use plastic for the conform it bring to their life, not for other things. In those days,
people are more aware about the impact that plastic has in the environment, so they are willing to
used new sustainable alternatives, real alternatives because the current alternative in the market
are focusing in use a “less damaging plastic” or “recyclables plastic” and everyone knows that it
is not a solution for our contamination problems. So, responding to this feeling we can we give the
same conform to people offering a product with the same function of plastic or expanded
polystyrene, but based in recyclables materials

Considering this target market, the appropriate decision to reach the consumer could be
open a small store place for common people. All that with the objective to be recognized and gain
experience into the small market. Selling product to who will make an event, meeting and party or
have small restaurant, bakery and business. Now, in this market sector price is important because
we are competing with too cheap products, so is necessary to have a good marketing strategy to
convince people about the benefits to buy our product above other ones. For other hand is
necessary to pay attention to conform and the physical quality have an important role because it
defines the capacity of our product to withstand some circumstances like warm or weigh an it
impacts now to purchase decision. In this market service does not have a big influence, but it is
considering our position and the products we offer service have to be excellent in order to reach
new customer every day.

2.4 BUSINESS MARKET

Our business market are companies who have a portfolio of products who need alternative
package to answer the new tendency of change the current material to package products.
Companies in retail sectors who commercialized products like fruits, vegetables, groceries, clothes,
shoes and small companies in food industry who sell drinks, coffee, meals, fast food and so on. n
the food industry could be at first small and medium business like restaurant, mini markets and
store place of food who in fact are the majority of companies in Colombia, while in retail sector
medium and big companies like Ara, Justo y Bueno, D1, Exito, Olimpica, Jumbo who has a big
market share and its operation in terms of use of plastic have a huge impact in our environment.
As soon as the product take relevance in the market the next important task will be trying to be
recognized for restaurant and store in the middle class and the try to reach the big retail store in
the market. Our operation will be concentrating at first in Barranquilla and expand to other
important city in the Caribbean region as soon as the company grow.

A lot of companies believe is necessary to make a change in the way to package their
products. They think plastic is a big problem in our society, so they are looking for new alternative
in the coming years and the wiliness to make a change in this aspect is big. Taking into account,
research there are different approval level to make a decision to change the suppliers of certain
products it is influenced by aspect like quality, international standards, price and convenience, and
most of the cases the decisions is centrally. The ultimate decision is taking by the chief financial
officer and marketing director because physic and financial aspect are involved in the decision. In
this market the most important criterion is price again and just in time because in this kind of topic
like package companies just look cheaper price and the ability to have the raw material to produce
a big number of units in few time.

In order to reach a big number of clients the payment policy will consist in cash payments
and credit payments. it allows us to be recognize and expand ways to earn money and keep working
to be profitability, clearly the credits terms will be given according the type of company. That the
way who actual companies in the plastic sector works and the idea gain advantage in their sectors
and make a big change in the industry. In this market sector purchase typically are made from
direct suppliers, there is not intermediary person, so is necessary to make good relationship with
early clients, gain their confidence and answer their request in a better way.

3 BUSINESS TECHNICAL RESEARCH FOR THE FEASIBILITY STUDY

3.1 LOCATION AND TECHNOLOGY INVESTMENTS
 In terms of location the company needs a physical store in order to sell the basic products
to its customers, and the same time a big space to customize certain special products. In this way
is necessary to rent a store in the central part of the city, because in this part of the city the rent is
cheap compare to other parts of the city, is a crowded part where everyone can go, so it is close to
our first customers, people. Considering that we plan to rent a store of 99 m2 place in the Cra 44
#42-53 where the price is 1,755,000 COP per month. This store has enough space to show our
products and place the necessary machine to customize the special products, it is in secure part,
easy access, near to restaurants and public transportation. The next picture is a drawing of the
physical distribution of the store.

Cra 44

Shelf

WC Manufacture zone

We think to promote our product through WhatsApp, Instagram, Facebook and Twitter
because in this social media the promotion is free, and a lot of people use this app. We think that
star a web site is not necessary now, because we must pay money in USD dollars in hosting,
programming and design. For other hand the app mentioned above are free and we can receive
purchase order through those apps without any problem, in a cheaper way and reaching a massive
population.

3.2 REQUIRE FIXED INVESTMENT

 COST x UNIT
QUANTITY JUNUARY, 1st 2020 Depreciation DECEMBER, 31th 2020
(COP)
PROPERTY, PLANT AND EQUIPMENT
COMPUTERS $ 1.200.000 4 $ 4.800.000 $ 768.000 $ 4.032.000
DESKS $ 350.000 4 $ 1.400.000 $ 224.000 $ 1.176.000
CHAIRS $ 100.000 4 $ 400.000 $ 64.000 $ 336.000
LAMPS $ 50.000 10 $ 500.000 $ 80.000 $ 420.000
CABINETS $ 270.000 4 $ 1.080.000 $ 172.800 $ 907.200
GRAPHIC DESIGN INDUSTRIAL MACHINERY $ 14.560.000 2 $ 29.120.000 $ 4.659.200 $ 24.460.800
STATIONERY $ 1.500.000 1 $ 1.500.000 $ 240.000 $ 1.260.000
AIR CONDITIONING $ 1.600.000 2 $ 3.200.000 $ 512.000 $ 2.688.000
METAL SHELVES $ 1.120.000 5 $ 5.600.000 $ 896.000 $ 4.704.000
TOILET AND CAFETERIA $ 900.000 1 $ 900.000 $ 144.000 $ 756.000
PHONES $ 120.000 4 $ 480.000 $ 76.800 $ 403.200
NON-CURRENT ASSETS $ 21.770.000 41 $ 48.980.000 $ 7.836.800 $ 41.143.200

ASSETS
Current assets
JUNUARY, 1st 2020 DECEMBER, 31th 2020
MINOR BOX $ 5.000.000 $ 5.000.000
Inventory $ 51.646.000 $ 283.686.000
Current assets $ 56.646.000 $ 288.686.000

3.3 WORKING CAPITAL INVESTMENT REQUIREMENTS

 INVENTORY

ESTIMATED QUANTITY TO
DECEMBER,
DESCRIPTION COST x UNIT (COP) QUANTITY VALUE JUNUARY, DECEMBER 31TH
31th 2020
1st 2020 2020

PAPER BAGS 15 CM $ 103 19.000 $ 1.957.000 114.000 $ 11.742.000

PAPER BAGS 31 CM $ 344 19.000 $ 6.536.000 114.000 $ 39.216.000
BIODEGRADABLE CONTAINERS $ 344 19.000 $ 6.536.000 114.000 $ 39.216.000
CARDBOARD BOXES $ 344 19.000 $ 6.536.000 114.000 $ 39.216.000
BOIDEGRADABLES BOTTLES 600ml $ 68 100.000 $ 6.800.000 600.000 $ 40.800.000
BIODEGRADABLES SORBETS $ 919 19.000 $ 17.461.000 114.000 $ 104.766.000
PAPER NAPKINS $ 2.600 200 $ 520.000 1.200 $ 780.000
SILKCREEN PAINTING $ 8.000 500 $ 4.000.000 3.000 $ 6.000.000
PENCILS $ 3.000 400 $ 1.200.000 2.400 $ 1.800.000
SERIGRAPHY FRAMEWORK $ 5.000 20 $ 100.000 120 $ 150.000
TOTAL $ 20.722 196.120 $ 51.646.000 $ 1.176.720 $ 283.686.000

2020 % 2021 % 2022 % 2023 % 2024 %

INCOME $ 273.048.851 100% $ 286.701.294 100% $ 301.036.358 100% $ 316.088.176 100% $ 331.892.585 100%

CREDIT SALES $ 191.134.196 70% $ 200.690.906 70% $ 210.725.451 70% $ 221.261.723 70% $ 232.324.810 70%

CASH SALES $ 81.914.655 30% $ 86.010.388 30% $ 90.310.908 30% $ 94.826.453 30% $ 99.567.776 30%

3.4 UNIT PRICES AND COST OF PRODUCTS OR SERVICES

 SALES

ESTIMATED QUANTITY TO
DECEMBER,
DESCRIPTION SELL PRICE QUANTITY VALUE JUNUARY, DECEMBER 31TH
31th 2020
1st 2020 2020
PAPER BAGS 15 CM $ 165 11875 $ 1.957.000 71.250 $ 11.742.000
PAPER BAGS 31 CM $ 550 11667 $ 6.421.342 70.000 $ 38.528.051
BIODEGRADABLE CONTAINERS $ 550 11875 $ 6.536.000 71.250 $ 39.216.000
CARDBOARD BOXES $ 550 12000 $ 6.604.800 72.000 $ 39.628.800
BOIDEGRADABLES BOTTLES 600ml $ 109 60000 $ 6.528.000 360.000 $ 39.168.000
BIODEGRADABLES SORBETS $ 1.470 11875 $ 17.461.000 71.250 $ 104.766.000
TOTAL $ 3.395 119292 $ 45.508.142 715.750 $ 273.048.851

COST OF GOOD SOLD

ESTIMATED QUANTITY TO
DECEMBER,
DESCRIPTION PRICE QUANTITY VALUE JUNUARY, DECEMBER 31TH
31th 2020
1st 2020 2020
PAPER BAGS 15 CM $ 103 11875 $ 1.223.125 71.250 $ 7.338.750
PAPER BAGS 31 CM $ 344 11667 $ 4.013.339 70.000 $ 24.080.032
BIODEGRADABLE CONTAINERS $ 344 11875 $ 4.085.000 71.250 $ 24.510.000
CARDBOARD BOXES $ 344 12000 $ 4.128.000 72.000 $ 24.768.000
BOIDEGRADABLES BOTTLES 600ml $ 68 60000 $ 4.080.000 360.000 $ 24.480.000
BIODEGRADABLES SORBETS $ 919 11875 $ 10.913.125 71.250 $ 65.478.750
TOTAL $ 2.122 119292 $ 28.442.589 715.750 $ 170.655.532

The reason for the unit price indicated above is due to the sum of the unit cost assigned and
the expected profit of approximately 60% for each product. For the unit costs, the standard cost of
two markets was considered, which are: the biodegradable market and the non-biodegradable
market, in order to reach a price that is favorable for the clients of the two markets and obtain
higher sales.

3.5 GENERAL, ADMINISTRATIVE AND SELLING EXPENSES

 NUMBER OF EMPLOYEES NUMBER OF HOURS SALARIES
CHARGE WAGES
REQUIRED WORKED MONTHLY ($/HOURS)
AUXILIAR DESIGN 1 240 $869.453 $ 3.623
AUXILIAR DESIGN 1 240 $869.453 $ 3.623
AUXILIAR DESIGN 1 240 $869.453 $ 3.623
TOTAL 3 720 $ 2.608.359 $ 10.868

UTILITIES EXPENSES (PUBLIC SERVICES)

WATER $ 130.000
LIGHT $ 270.000
INTERNET $ 100.000
TOTAL $ 500.000

ADMINISTRATIVE EXPENSES
TOILET AND CAFETERIA $ 900.000
TRAINING AND QUALITICATION $ 800.000
MARKETING $ 200.000
STATIONERY $ 1.500.000
RENTAL $ 1.800.000
WATER $ 130.000
LIGHT $ 270.000
INTERNET $ 100.000
SALARIES $ 2.608.359
TOTAL $ 8.308.359

SELLING EXPENSES
RENTAL $ 1.800.000
MARKETING $ 200.000
TOTAL $ 2.000.000

Currently, we are an organization that is opening its doors to the public, so no high salaries
will be handled. Similarly, the company is committed to corporate social responsibility as well as
its three main components: SOCIETY, ECONOMY AND ENVIRONMENT.

On the services side, each of these are necessary for the vital functioning of the work of
the company, so it was decided to assign a time according to what was required, amounts that were
assigned according to several proposals previously consulted and compared With startup services.
It should be noted that our business focuses primarily on environmental care through the search
for changing consumer habits.

3.6 GROWTH OPPORTUNITIES AND EXPECTED FUTURE INVESTMENTS

 Now looking all the reports and magazines about this market there is a general idea that
biodegradable packaging is gaining market share and it uses in different products, not just in bags
or box, also in bottles, food containers and cutlery. In this way, the company must star in five year
investigate ways to produce their own raw material, it means that try to make vertical integration
in order to reduce cost and expenses in the future. So, thinking about that company has to invest
in patents in biodegradable packaging in order to have their own formula to supply the demand in
different products. For this reason, we think that the most important increase in expenses will be
in human capital, marketing and investigation, in order to full fill needs and be competitive soon.

Considering the market research, we found that according to different companies the
biodegradable packaging market was valued at USD 85.11 billion in 2018 and they estimate reach
a value of USD 119.3 billion by 2024 (Mordor Intelligence, 2019). Looking all the forecast made
we found that the expected growth for the next 5 years could in average 5 %. It can be demonstrated
when (Mordor Intelligence, 2019) express “CAGR of 5.9% over the forecast period (2019-2024)”.
Inside this big market of biodegradable package, beverage packaging and food industry are two of
the most important categories all type of product relate to soda, water, coffee, juice, fast food,
healthy food, plant-based food and so on. For example, in the food packaging sector in global view
the biodegradable packaging is expected to rise from 4.9 billion in 20616 to around 11 billion by
2021.

In the same way, taking into account this information the expected revenue growth in our
company could be in the following way.

2020 2021 CAMBIO% 2022 CAMBIO% 2023 CAMBIO% 2024 CAMBIO%

INCOME $ 273.048.851 $ 286.701.294 5,00% $ 301.036.358 5,00% $ 316.088.176 5,00% $ 331.892.585 5,00%

The expected growth will be support by huge concern that people have about the
environment, and the shift of big companies to use sustainable package to their products especially
in food and beverage industry. Now, in order to support the expected growth is necessary to invest
mainly in human capital to increase the productivity and increase sells.

4 REFERENCES

Euromonitor (2015). Euromonitor international. obtenido de http://ezproxy.uninorte.edu.co:2163/portal/analysis/tab

Biodegradable Packaging Market Remains Highly Fragmented, with Tier 3 Players Collectively Foreseen to Account for

Over 60 Percent Revenue Share. (2019, April 25). Retrieved September 21, 2019, from Waste Advantage

Magazine website: https://wasteadvantagemag.com/biodegradable-packaging-market-remains-highly-fragmented-

with-tier-3-players-collectively-foreseen-to-account-for-over-60-percent-revenue-share/

Haugen, T. (2017, March 29). How Biodegradable Packaging Can Create New Opportunities in the Biobased Economy.

Retrieved September 23, 2019, from Medium website: https://medium.com/agtrends/how-biodegradable-

packaging-can-create-new-opportunities-in-the-biobased-economy-f80cf95d1b

Markets, R. and. (2019, July 25). Global Biodegradable Plastic Packaging Market: Growth, Trends, and Forecasts (2019-

2024). Retrieved September 21, 2019, from GlobeNewswire News Room website:

http://www.globenewswire.com/news-release/2019/07/25/1887795/0/en/Global-Biodegradable-Plastic-

Packaging-Market-Growth-Trends-and-Forecasts-2019-2024.html

Markets, R. and. (n.d.). Global Biodegradable Packaging Market to 2025—$19 Bn Growth Opportunities/Investment

Opportunities. Retrieved September 25, 2019, from https://www.prnewswire.com/news-releases/global-

biodegradable-packaging-market-to-2025---19-bn-growth-opportunitiesinvestment-opportunities-300535638.html

Mordor Intelligence. (2019). Biodegradable Packaging Market Size, Share, Forecasts (2019-24). Retrieved September 25,

2019, from https://www.mordorintelligence.com/industry-reports/gobal-biodegradable-packaging-solutions-

market-industry

The financial. (s.f.). Green consumption grows and awards to companies. The financial.