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Food Service Packaging Market to Reach $129.73 Billion by 2028 - Exclusive Report by The Insight Partners

Pune, India, Nov. 08, 2023 (GLOBE NEWSWIRE) -- According to our new research study on "Food Service Packaging Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Material, Packaging Type, and Application", the food service packaging market was valued at $86.37 Billion in 2021 and is projected to reach US$ 129.73 Billion by 2028; it is expected to grow at a CAGR of 5.4% from 2021 to 2028.  The growth of the market during the forecast period is attributed to proliferation in production capacity of packaging products and change in customer preferences for high-quality and standard products

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Food Service Packaging Market: Competition Landscape

Graphic Packaging International, LLC; Amcor PLC; Cambay Technopack Private Limited; Huhtamaki Global; AR Packaging; WestRock Company; Genpak, LLC; Vegware Ltd; BeGreen Packaging; and Stora Enso are among the major players operating in the global food service packaging market. Market players focus on providing high-quality products to fulfill customer demand.

 In 2020, Asia Pacific held the largest share of the global food service packaging market. Factors contributing to the market growth in the region are the growing number of fast food chains in the region and the rising disposable income of people. China and India are some of the major countries in Asia Pacific for the market. In India, the growth of the food service industry is driven by rising income levels, urbanization, and nuclearization. The growing food service industry in India is creating a huge demand for different food service packaging products, thereby driving the food service packaging market.

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