Retort Packaging Market

 

Retort packaging market accounted for US$ 3.5 billion in 2020 and is estimated to be 4.5 billion by 2025 and is anticipated to register a CAGR of 5.1%. The report. "Global Retort Packaging Market, By Type (Pouches, Trays, Cartons, and Others (Metal Cans, Plastic and Glass Bottles)), By Material (PET, Polypropylene, Aluminum foil, Polyethylene, Polyamide, Paperboard, and Others (EVOH, EVA, PVdC)), By End-use (Food, Beverages, and Others (Pharmaceutical And Personal Care Products)), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030”.

Prominent key players in the retort packaging landscape are promising to expand their production of recyclable packaging. Multi-material films are one of the immense driving forces for innovation in high-barrier retort applications.

Key Highlights:

• In April 2019, Proampac LLC developed child-resistant reclosable, easy-open (CRREO) pouches with an increased range of sizes.

 

• On 11 February 2019, Sealed Air Corp. signed an acquisition of MGM'S flexible packaging business in order to strengthen its food packaging operations in Asia.

 

• On November 2018, Flair Flexible Packaging Corporation launched a line of recyclable multi-layer laminated film pouches called ENVi.

 

Analyst View:

Rising consumer demand

Growth in disposable income in the emerging economies coupled with the improving quality of life is the major factor boosting the demand for retort packaging. The demand for packed food, baby food, and pet food is growing, owing to changing lifestyle which further leads to the growth of retort packaging market. As the millennial population, particularly the working professional, is continuously demanding for convenience foods that are ready to cook or ready to eat, the market growth of retort packaging is projected to gain a significant acceleration. Retort packaging is available in many forms like trays, pouches, and cartons. Innovation in packaging also provides convenient features like easy-open, hanger hole, Zipper reclose, and reclosability.

Improvisation in technology for cost-effective and sustainable packaging

JBT Corporation, one of the global innovative solution providers for the food and beverage processing industry, introduced two innovative solutions to overcome challenges associated with the retort sterilization process. Challenges such as energy consumption, reducing water usage, and improving the handling process of sensitive packaging. Bemis’ (subsidiary of Amcor plc.) ready meal packages were the first self-venting retort pouches applicable for portable meals, which when opened, function as a bowl.

Key Market Insights from the report:        

The global retort packaging market accounted for US$ 3.5 billion in 2020 and is estimated to be 4.5 billion by 2025 and is anticipated to register a CAGR of 5.1%. The market report has been segmented on the basis of type, material, end-user, and region.

• By type, pouches segment estimates for highest market share among all the types of retort packaging owing to growth in demand for the pouches from the ready to eat or ready meals manufacturers. These retort pouches have features such as high flexibility, strength, and lightweight, which has made it significant then tin cans
• By material, polypropylene segment dominated the target market in 2019 in terms of value and volume. Polypropylene is utilized in inner layer of the retort package which behaves as heat sealant materials. Other advantages include high strength, glossy film, transparent, and high puncture resistance. Polypropylene growth is attributed to the growing demand for retort pouches from the ready meal industry.
• By end-user, the food segment is projected to be the fastest growing segment. Owing to growing consumption of products like curries & sauces  and baby food
• By region, Asia Pacific leads the global retort packaging market, and it is expected to witness highest CAGR rate over the forecast period. Further, growing population and increasing demand for ready to eat consumables are the major drivers for the growth of retort packaging market in this region.

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Competitive Landscape:

The prominent player operating in the global retort packaging market includes Berry Plastics Corporation, Amcor Limited, Bemis Company Inc., Otsuka Holdings Company Limited, Mondi Group, Sonoco, Astrapak Limited, Tredegar Corporation, Coveris, and Clondalkin Industries BV.

The market provides detailed information regarding industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory framework across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included into the report.