Retort packaging Market Developments, Analysis, Size, Trends, Analysis and Demand with Forecast to 2023
Retort
packaging Market: By Packaging Type (Pouch, Carton, Tray), Material
(Polypropylene, Polyester, Aluminum foil, Food Grade cast polypropylene,
Biomaterial, Paperboard, Nylon), End-use (Food, Beverage, Pharmaceutical),
Region — Global Forecast Till 2023
The
global retort packaging market is expected to reach approximately USD
42.05 Billion by 2023, growing at a CAGR of ~7.5% during the forecast period.
Market Synopsis of Retort Packaging
Market
Retort packaging is a type of food
packaging made from heat resistant laminated plastic and metal foil. It is
mainly used for storing the food and beverage items and provide a longer
shelf-life to packaged products. In retort packaging, food is packed into a
metal can or pouch before it is sealed. Furthermore, it is heated at an
extremely high temperature which makes the product commercially sterile. The
main aim of retort packaging is to destroy microorganism by heating, protect food
from chemical or enzymatic reactants and to keep the food ready for
consumption.
Increase in disposable income in the
developing countries along with the improving quality of life is the major
factor driving the demand for retort packaging. The demand for packed food, pet
food, and baby food is increasing because of the changing lifestyle which
further leads to the growth of retort packaging market. As the millennial
population, especially the working professional, is continuously looking for
convenience foods that are ready to eat or ready to cook, the market growth of
retort packaging is expected to gain a considerable acceleration. Retort
packaging is available in many forms like pouches, trays, and cartons.
Innovation in packaging also offers convenient features like hanger hole,
easy-open, reclosability and Zipper reclose.
key players
The key players in the market
include Amcor Ltd. (Australia), Berry Plastics Corporation (U.S.), Mondi Group
(South Africa), Sonoco Products Company(U.S.), Ampac Holdings LLC(U.S.),
Clondalkin Industries BV (Netherlands), Coveris Holdings S.A. (U.S.),
Otsuka Holdings Company Limited (Japan), Bemis Company Inc. (U.S), Astrapak
Limited (South Africa), Tredegar Corporation(U.S.), Sealed Air
Corporation(U.S.), DS Smith PLC(U.K.), RockTenn Company (U.S.).
Segmentation:
Global Retort Packaging Market
Global Retort packaging market has
been segmented based on packaging type, material, end- use, and region. Based
on packaging type, the market is segmented as pouches, cartons, trays,
and others. Among all, retort pouches have the largest market share due to
its flexible characteristics and use of high heat resistant plastics. Different
variety of pouches are available in markets such as stand-up pouches, back-seal
quad, spouted pouches, and gusseted pouches. At the same time it is light
weighted, convenient to hold and is shelf-stable.
Based on material, the market is
segmented as polypropylene, polyester, aluminum foil, food grade cast
polypropylene, biomaterials, paperboard, nylon, and others.
Based on end-use, the market is
segmented as Food, Beverage, Pharmaceutical, and others. The food segment is
expected to be the fastest growing segment. This is because of increasing
consumption of products like sauces & curries and baby food. Changing
lifestyle also acts as a driving factor because demand for ready to eat food
& pet food is increasing. Growing urbanization and increasing disposable
incomes have led to the increasing consumption of food. People have high
purchasing power and due to their busy lifestyle, they prefer ready-made
products which has opened a door of retort packaging market.
Regional Analysis of Retort
Packaging Market
In terms of geography, Asia Pacific
dominates the global retort packaging market, and it is anticipated to grow
with the highest CAGR during the forecast period. The major drivers for the
growth of retort packaging market in this region are increasing population and
rising demand for ready to eat consumables. Growing health and personal care
industry in Asia Pacific is another reason for the market growth of retort
packaging.
The market for retort packaging is
growing with the expansion of urbanization in developing countries. The demand
for curry, sauces and other ready-to-eat meals in China & India may be the
reason for the fastest growing market. Europe and North America are expected to
closely follow Asia Pacific during the forecast period.
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