- The rising demand for the ready to eat foods are projecting the growth of the retort packaging market.
- The banning of plastic grade products for food packaging and its toxic behavior towards food are expected to dampen the market growth.
- North America is expected to drive the market at a substantial rate.
Global Retort Packaging Market is segmented by product type into pouches, trays, cartons & others; by material type into cast polypropylene, polyester (PET), polyethylene (PE), aluminum foil, paper & paperboard and others; by application type into food, beverages and pharmaceuticals and by regions.
According to IBEF, APEDA have a percentage share of its exports which records as 38.21% in cereals, 28.4% in food products, 7.8% in fresh food and vegetables, 6.7% in processed fruits and vegetables, 04.3% in floriculture and other processed food by 17.9% in 2016 which is thriving the retort packaging market to anticipate at a CAGR of 7.6% during the forecast period i.e. 2019-2027.
The market segmented into the application types is expected to generate high demand for retort packaging by the food and beverage sector. The food and beverage packaging in pouches are expected to lead the product type on account of its easy handling and better application. The various other materials required for manufacturing of retort packaging is anticipated to fuel the market by PET material type during the forecast period.
Asia Pacific which is expected to lead the market of retort packaging on account of its rising food and beverage sector which is generating high demand for retort packaging in the market. The rising market demand in the countries of Asia Pacific such as China, India and others are expected to rise on the back of increasing investment in food and beverages, high industrialization and increasing per capita income.
North America is expected to drive the market at a substantial rate owing to the demand for ready to eat food items during the forecast period. Other regions are also driving the market at a healthy growth rate which is anticipated to propel the demand of retort packaging during the forecast period.
Steady Application in Food Industry
Retort packaging are extensively used in the food industry to protect the food inside it with high integrity and food grade packaging offered by the retort packaging market. The rising demand for the ready to eat foods are projecting the growth of the retort packaging market which is anticipated to raise the market demand during the forecast period. The high protection by several layers and food grade hygienic material are preserving the food from external temperature and pressure which is probable to drive the market of retort packaging during the forecast period.
However, the banning of plastic grade products for food packaging and its toxic behavior towards food are expected to dampen the market growth. Moreover, the rising awareness among consumers for health and stringent government regulations are expected to create a hindrance to the market growth further over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global Retort packaging market which includes company profiling:
- Bemis Company Inc.,
- Bemis Company Inc.,
- Clifton Packaging Group Limited,
- Flair Flexible Packaging Corporation,
- Clondalkin Industries BV,
- Tetra Pak International S.A,
- Sonoco Product Company,
- Winpak Ltd.,
- Sealed Air Corp and Amcor Limited
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global Retort packaging market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.