by The Retort Packaging Market is estimated to be valued at US$ 35.43 Bn in 2023 and is expected to exhibit a CAGR of 9% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Retort packaging refers to rigid or semi-rigid packaging solutions that can withstand high pressure and temperature during retort process of sterilization. It is widely used for packaging of ready-to-eat and semi-prepared food products that require longer shelf life without refrigeration. Products like soups, sauces, ready meals, seafood etc. are commonly packed using retort packaging solutions due to its ability to withstand high temperature and pressure conditions during retort treatment. The shelf life offered by retort packaged products ranges from 6 months to 5 years depending upon the product, making it ideal for military, outdoor, and disaster relief applications.
Market Dynamics:
Rise in demand for convenient and easy-to-consume food options among consumers globally is a key factor propelling growth of the retort packaging market. Retort packaging provides consumers with on-the-go, ready-to-eat products without comprising on the quality and freshness of food. This has boosted product adoption across various applications. Additionally, preference for semi-prepared and long shelf life food items without refrigeration during transportation or storage is augmenting sales of retort packaged foods. Growing demand for flexible and lightweight packaging further support market gains. However, availability of alternative packaging solutions with extended shelf life may hinder market growth to some extent over the forecast period.
Proliferation of retort-ready pouches that resemble traditional flexible pouches but can withstand retort conditions is opening new avenues.
Segment Analysis
The global Retort Packaging market is dominated by the pouches & bags segment. This segment accounted for the largest market share in 2022 owing to the increasing demand for lightweight and easy to open packaging. Pouches & bags provide high barrier protection against moisture, gas, aroma, and grease. Additionally, they are compact and easy to transport. This makes them a preferred choice for packaging of retorted food products like baby food, pet food, and others.
PEST Analysis
Political: Favorable government policies supporting food safety and longer shelf-life of products are driving the adoption of retort packaging. Various regulations mandate retortable packaging for sterilized foods.
Economic: The rising disposable incomes and busy lifestyles have increased the demand for convenient packaged foods. This drives the retort packaging market.
Social: Changing food consumption patterns and rising demand for packaged and ready-to-eat meals are fueling the growth of the retort packaging industry.
Technological: Advancements in packaging materials and sealing technologies have improved the barrier properties of retort packaging films, increasing their usage.
Key Takeaways
The global Retort Packaging Market Share is expected to witness high growth, exhibiting CAGR of 9% over the forecast period, due to increasing demand for ready-to-eat meals and long shelf-life packaged foods.
Regionally, Asia Pacific is projected to dominate the retort packaging market during the forecast period. This is attributed to rising incomes, faster adoption of western food habits, and increasing demand for packaged foods in countries like India and China.
Key players operating in the retort packaging market are Amcor, Mondi, Sonoco, Clondalkin Group, Coveris, Huhtamaki, Winpak, Berry Plastics, Proampac, Flair Flexible Packaging, Constantia Flexibles, Tetra Pak, Sealed Air, Plastipak Packaging, Printpack, Bryce Corporation, Floeter India Retort Pouches, HPM Global, Sopakco Packaging, and Fujimori Kogyo. The major players are focusing on new product development, collaborations, and geographical expansion to gain market share.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
