Global Retort Packaging Market Forecast to Reach US$ 24,706 Mn by 2024: Transparency Market Research

Transparency Market Research has published a new market report titled “Retort Packaging Market by Product Type (Pouches, trays, cartons and others), by Material Type (Cast Polypropylene, Nylon, Polyester, Polyethylene, Aluminum foil, Paper & Paperboard and others), by Form Type (Flexible, Rigid and Semi-rigid) and  by Application (Foods, Beverages and  Pharmaceuticals) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2016-2024.” According to the report, the retort packaging market was valued at US$ 13,026.9 in 2015 and is forecast to surpass US$ 24,706 Mn by 2024, registering a CAGR of 7.5% between 2016 and 2024.

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The retort packaging market is expected to experience exponential growth over the next few years as the retort pouches gets attention superior to glass and metal containers.

An exhaustive analysis of the global retort packaging market and geographic assessment demonstrates that demand for retort packaging is attributed to the high shelf life of the food products provided by the technology. The ongoing trend of retort pouches is very popular among manufacturers due to its eco-friendly and light weight characteristics. For instance, earlier there used to be a small pillow pouches produced by the manufacturers, but nowadays manufacturers are coming up with efficient retort process and more attractive pouches. As compared to aluminum trays and cans, stand-up retort pouches use less than 5% of the packaging material and also meets the sterilization requirement of the package at lower temperature. This leads to cost cutting for packaging manufacturers and enhances the overall profitability for the companies

Asia Pacific is expected to be the most promising region in terms of incremental opportunities generating higher revenue and dominate the global retort packaging market revenue share with 34.0% in 2016, followed by Europe and North America. Europe and North America are highly regulated and likely to create a substantial demand of retort packaging worth over US$ 7,500 Mn in 2016, approximately 7.0% higher than the previous year. Latin America and Middle East is estimated to collectively represent slightly over 9% of global retort packaging market value, translating into US$ 1,644.5 Mn in 2016.

Asia Pacific is forecast to represent the global retort packaging market with CAGR of over 7.8% between 2016 and 2024. All other markets are projected to register less than 7.8% Y-o-Y during the forecast period. Over the next half of decade, Asia Pacific region is expected to provide immense opportunities for packaging manufacturer on the backdrop of food industry. Furthermore, high demand for meals ready to eat food products coupled with increasing disposable incomes, in countries like India and China, is expected to further propel the growth of the retort packaging over the forecast period. In terms of opportunity, APAC region is expected to showcase a promising future for retort packaging manufacturers throughout the forecast period. The trend of convenience food is highly accepted globally and as a result, demand for packaged foods has increased considerably worldwide.

The key participants in the global retort packaging market are Amcor limited, Bemis Company, Inc., Sealed Air, Coveris Holdings S.A, Mondi Group, Sonoco Products Company, Berry Plastic Group, Inc., Ampac Holdings LLC., Winpak Limited Company, Clondalkin Group and Flair Flexible Packaging Corporation.

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The global retort packaging market are segmented as follows

By Product Type

  • Pouches
    • Stand- up Pouches
    • Back-seal Quad
    • Spouted Pouches
    • Gusseted Pouches
  • Trays
  • Cartons
  • Others (Cans, Bottles)

By Material

  • Cast Polypropylene
  • Nylon (Bi-Oriented Polyamide)
  • Polyester (PET)
  • Polyethylene (PE)
  • Aluminum Foil
  • Paper & Paperboard
  • Others (PVDC, PVC)

By form

  • Flexible
  • Rigid
  • Semi-rigid

By Application

  • Food
    • Meals Ready-to-Eat (MRE)
    • Sea Food
    • Pet Food
    • Baby Food
    • Soups & Sauces
    • Others (Meat stew)
  • Beverages
  • Pharmaceuticals

By Region

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa
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