June 19, 2024
Retort Packaging Market

Retort Packaging Market is Estimated to Witness High Growth Owing to Increasing Demand for Convenient Food Products

The retort packaging market involves the sealing of canned food in a thermally stable package to withstand conditions of extended thermal processing without leakage, seepage, or significant distortion. Retort packaging helps in preparing non-refrigerated food products that have a long shelf life across various applications such as pet food, ready meals, and seafood. It provides convenience by eliminating the need for refrigeration during storage before consumption. The process involved subjects the packaged food to high pressure and temperature and sterilizes it completely, thus increasing its shelf life up to 36 months. Owing to its outstanding thermal stability and barrier properties, retort packaging is preferred for a variety of canned products worldwide.

The Global Retort Packaging Market Growth is estimated to be valued at US$ 40.82 Mn in 2024 and is expected to exhibit a CAGR of 7.7%  over the forecast period 2024 to 2030.

Key Takeaways
Key players operating in the retort packaging market are BEYO Chemical Co., Ltd., Cathay Biotech Inc., Chemceed, Evonik Industries AG, Haihang Industry, Selleck Chemicals, Serena Chemicals, TCI Chemicals (India) Pvt. Ltd., Thermo Fisher Scientific Inc., and UBE Industries, Ltd. The key players are focusing on launching new and innovative packaging solutions to cater to rising demand from end-use industries such as food.

The key opportunities in the retort packaging include the growing use of stand-up pouches and cartons for various food applications due to properties of enhanced shelf appeal, stackability, and sustainability. Increasing focus of manufacturers towards developing high-barrier films based on aluminum and glassine to maintain food quality is expected to open new growth avenues during the forecast period.

The growing working population and changing lifestyle in developing regions of Asia Pacific and Latin America is resulting in the high demand for convenient packaged food products. This is expected to drive the global expansion of the retort packaging market over the forecast period.

Market drivers
The increasing demand for convenient and ready-to-eat food products among millennials and working professionals is one of the key drivers for the retort packaging market. The hectic schedules leave little time for home-cooked meals, thereby fueling the uptake of packaged foods that do not need refrigeration. Retort packaging helps extend the shelf life of products without refrigeration, offering great convenience to busy consumers.

PEST Analysis
Political: The retort packaging market is regulated by various food safety standards and regulations set by governments across the globe. These regulate the materials used and process followed for food packaging.

Economic: Factors such as rising disposable incomes, busy lifestyles and growth of the ready meals market have supported the market growth. However, high initial investments and costs associated retort packaging production process could restrain the market.

Social: Changes in dietary habits and increasing demand for convenience foods have been driving the retort packaging market. Growing awareness about food preservation has also supported market growth.

Technological: Advanced technologies have improved packaging efficiency and shelf life of products. Technologies such as aseptic processing help maintain product quality and nutrition during packaging and storage. Emerging technologies are also making production more sustainable.

In terms of value, the Asia Pacific region holds the largest share in the retort packaging market. Factors such as growing population, rising incomes and changing dietary patterns in countries like India and China have supported market growth. North America and Europe are also major regional markets.

The market in Middle East and Africa is expected to witness the fastest growth during the forecast period. This can be attributed to rising demand for packaged and convenient foods in the region. Growing focus on food security and increasing investments by multinational food companies are driving market expansion.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it