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 5% 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.