In 2008, the global market for consumer packaging was estimated at USD $480 billion and was continuing to grow at a pace of five percent per annum. Food packaging is the largest segment of this global packaging market, which accounts formore than half of the total market and is experiencing steady growth. Moreover, the global consumption of biodegradable packaging materials is expected to show an annual increase of twenty-two percent (The Future Global Markets for Biodegradable Packaging, published by IntertechPira, UK). Biopack’s products are well positioned to capture a growing share of this emerging market.
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