Food Service Packaging Market Report

3 Min Read By Vinisha Joshi

As per the report by Global Market Insights Inc., Worldwide food service packaging market was valued at over USD 118 billion in 2021 and will surpass a revenue collection of USD 186 billion by 2028 with an annual growth rate of five percent from 2022 to 2030.

The food service packaging industry value will increase at a considerable pace as the processed food sector is seeing a notable expansion. The demand for processed and packaged foods is rapidly growing among the younger generation due to their hectic lifestyle, which leaves them with no time to prepare homemade meals.

The trend of takeaways and home deliveries has picked up significant pace, especially during the COVID-19 pandemic. As restaurants were closed when the outbreak was at its peak, people turned to online food delivery platforms. Hygienic packaging also took centerstage during this period.

In March 2021, nearly 47 percent of American citizens had used a food delivery application during the pandemic period…