- According to Transparency Market Research’s latest market report on the retort packaging market for the historical period of 2014-2018 and forecast period of 2019-2027, dimensional consistency and stability in the product design of retort packaging are estimated to drive the growth of the retort packaging market.
- Globally, revenue generated by the retort packaging market is anticipated to be ~US$ 15.6 Bn in 2019, which is projected to expand at a CAGR of ~5% in terms of value during the forecast period.
Increased Emphasis on Convenient and Eco-friendly Packaging Formats
- The need for safe & hygienic, aesthetically appealing, comparatively lightweight, and extended shelf life packaging is emphasized in retort packaging. As a result, manufacturers are focusing on developing solutions that can help foods in retain their natural odor and color after long storage durations.
- The negative impact of plastics on the environment has led companies and governments to restrict the usage of plastics and market eco-friendly packaging products, which will result in reduced waste production and fossil fuel consumption.
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Retort Packaging Market Volume to Expand 1.6X during Forecast Period
- The global retort packaging market is expected to register steady growth over the period of forecast, due to innovation in material for retort packaging formats such as pouches, trays, etc.
Retort Packaging Market – Key Research Findings
- The global retort packaging market is primarily dominated by manufacturers based in Europe and APAC, in terms of market share. MEA and APAC are anticipated to experience a very healthy CAGR of ~6% during the period of 2019-2027. ASEAN, India, and China are dominating the APAC region.
- Manufacturing companies of retort packaging formats are focusing on innovations to improve the material used in the packaging of food products, so as to prevent undesirable changes of flavor. The introduction of safe, fully-recyclable, and high-barrier flexible packaging for consumer convenience is in progress.
- There are innovations in retort packaging solutions that reduce carbon footprint and overcome handling challenges. For instance, a company launched a unique recyclable packaging that can reduce carbon footprint up to ~64%.
High Demand for Ready-to-Eat Meals Due to Increased Workforce
- The prevalence of convenience food among consumers in developing countries is driving the growth of the retort packaging market. Retort packaging is widely preferred because of its ability to increase the shelf life of products (18 months) as compared to conventional packaging methods. Changing eating habits and increasing number of workforce living alone are factors that lead to the increased consumption of ready-to-eat meals that require minimal effort and less preparation This factor has positively affected the demand for retort packaging formats such as pouches, trays, cans, and the like.
Improvisation in Technology for Sustainable and Cost-effective Packaging
- JBT Corporation, one of the leading solution providers for the food and beverage processing industry, launched two innovative solutions to overcome challenges related to the retort sterilization process, specifically energy consumption, improving the handling process of sensitive packaging, and reducing water usage.
- Bemis’ (subsidiary of Amcor plc.) ready meal packages was the first self-venting retort pouches for portable meals, which when opened, function as a bowl.
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Global Retort Packaging Market – Competition Landscape
- Elaborated company profiles of the top players in the retort packaging market are incorporated in the report to reveal their product offerings, financials, recent developments, and strategies. Some of the key players operating in the global retort packaging market are –
- Amcor plc
- Mondi Group
- Huhtamäki Oyj
- Sealed Air Corp.
- Winpak Ltd.
- Sonoco Products Company
- Coveris Holdings S.A.
- Proampac LLC
- Tredegar Corporation
- ALLIEDFLEX Technologies, Inc.
- DNP America, LLC.
- Clifton Packaging Group Ltd
- Printpack, Inc.
- Paharpur 3P
- Constantia Flexibles Group GmbH
- Flair Flexible Packaging Corporation
- HPM Global Inc.
- LD PACK Co., Ltd.
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