Retort Packaging Market Comprehensive Study Explored In New Research With Key Players

In the age where people have lost time to eat due to busy schedules, the demand for processed food has sky-rocketed. This is simply because processed food are easily available, they last longer, and do not require time to cook. Some of them are instantly available for eating as well. Hence, the demand for processed food is growing by the day. While companies manufacturing processed food are happy about this trend, those who produce packaging material for processed food are also riding high. Transparency Market Research has recently published a report on the global retort packaging market. Further, the report states that the global retort packaging market will grow at 5% CAGR during the forecast period from 2019-2027.

Retort Pouches to Lead the Way

According to the report, retort pouches alone account for 53% sales in the global retort packaging market. This is a prominent trend for players as they will have to devise strategies to capitalize on the products in this segment. Retort pouches find more usage as they have several advantages.

They are easy to manufacture and come for a lesser cost when compared to other products in the global retort packaging market. Further, consumers are able to print easily on them and hence the possibility of promotions and branding is easier with retort pouches. At the end of the day, the cost of marketing and branding is also lesser with retort pouches. Hence, the demand for products in this segment of the global retort packaging market is expected to remain high in the coming years.

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Besides this, the possibility of innovation is also higher with retort pouches as they are flexible and malleable. Hence, manufacturers in the global retort packaging market find it easy to produce new products and lure consumers. At the same time, consumers are also keen only having their own idea incorporated in the packaging of their products. Hence, the possibility of customizing demands from consumers is easy with retort pouches. This trend will also influence growth on the global retort packaging market in the coming years.

Plastic is Still the Go-to Material

While there are enough measures taken to stop use of plastic due to the harmful environmental impacts the material has, it remains the go-to material in the global retort packaging market. This is because it comes at a lower price and offer flexibility in creating different products. As a result, it has a direct impact on the consumer too. This trend is expected to support growth in the global retort packaging market.

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Retort Packaging Market are Ideal for Ready-to-eat Meals

A recent business intelligence study done at Transparency Market Research (TMR) has foreseen that the future of the retort packaging market belongs to the development of ecofriendly products. And, this trend has been already seeped into R&D practices of several major players who are aspiring greater shares in the packaging industry. The analyst of the report has detected that the shares in the global retort packaging are distributed among a large pool of players. However, a few companies such as Amcor Limited, Mondi Group, Bemis Company, Inc., Sonoco Products, and Sealed Air Corporation do hold slightly stronger positions, which is a reflection of their robust supply network across regions and constant strive for innovation.

Going forward, most of the major companies in the retort packaging market are expected align their product portfolio in sync with changing demand from the food industry. For instance, Amcor Limited offers products such as AluFix Retort Classic for non-demanding applications including meat and pâtés; Retort Pro for demanding applications including ready meals, fish salads, and olives; and AluFix Retort Xtra for aggressive applications including chili tuna salads, tomato puree and sauce, and fish in white wine. On the other hand, Mondi Group has a strong presence in the European region on the back of its retort pouches that are lightweight and strong in appearance, enabling easy transportation and impression.

Global Retort Packaging Market to be worth US$24,706.0 mn by 2024

If the projections of the TMR report are to be believed, the demand in the global retort packaging market will proliferate at a healthy CAGR of 7.45% during the forecast period of 2017 to 2024. Volume-wise, the report has estimated a demand for 72,492 mn units by the end of 2024, which in turn would reflect a revenue of US$24,706.0 mn. Based on product type, the report segments the retort packaging market into trays, cartons, pouches, and others. The pouches segment has been further sub-segmented into gusseted pouches, spouted pouches, back-seal quad, and stand-up pouches.

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On the basis of material type, the market for retort packaging has been bifurcated into cast polypropylene, nylon (Bi-oriented polyamide), polyester (PET), polyethylene (PE), aluminum foil, paper and paperboard, and others including PVC and PVDC. Application-wise, the retort packaging market has been categorized into food including soups and sauces, baby food, pet food, sea food, ready to eat meals, and others, beverages, and pharmaceuticals. The market has also been classified based on type of form, into semi rigid, rigid, and flexible. Geographically, Asia Pacific is anticipated to overtake as the most lucrative region towards the end of 2024, producing more demand for retort packaging than other prominent regions of Europe and North America.

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Leaders in Global Retort Packaging Market Innovating for Ecofriendly Products

A recent business intelligence study done at Transparency Market Research (TMR) has foreseen that the future of the retort packaging market belongs to the development of ecofriendly products. And, this trend has been already seeped into R&D practices of several major players who are aspiring greater shares in the packaging industry. The analyst of the report has detected that the shares in the global retort packaging are distributed among a large pool of players. However, a few companies such as Amcor Limited, Mondi Group, Bemis Company, Inc., Sonoco Products, and Sealed Air Corporation do hold slightly stronger positions, which is a reflection of their robust supply network across regions and constant strive for innovation.

Going forward, most of the major companies in the retort packaging market are expected align their product portfolio in sync with changing demand from the food industry. For instance, Amcor Limited offers products such as AluFix Retort Classic for non-demanding applications including meat and pâtés; Retort Pro for demanding applications including ready meals, fish salads, and olives; and AluFix Retort Xtra for aggressive applications including chili tuna salads, tomato puree and sauce, and fish in white wine. On the other hand, Mondi Group has a strong presence in the European region on the back of its retort pouches that are lightweight and strong in appearance, enabling easy transportation and impression.

If the projections of the TMR report are to be believed, the demand in the global retort packaging market will proliferate at a healthy CAGR of 7.45% during the forecast period of 2017 to 2024. Volume-wise, the report has estimated a demand for 72,492 mn units by the end of 2024, which in turn would reflect a revenue of US$24,706.0 mn. Based on product type, the report segments the retort packaging market into trays, cartons, pouches, and others. The pouches segment has been further sub-segmented into gusseted pouches, spouted pouches, back-seal quad, and stand-up pouches.

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On the basis of material type, the market for retort packaging has been bifurcated into cast polypropylene, nylon (Bi-oriented polyamide), polyester (PET), polyethylene (PE), aluminum foil, paper and paperboard, and others including PVC and PVDC. Application-wise, the retort packaging market has been categorized into food including soups and sauces, baby food, pet food, sea food, ready to eat meals, and others, beverages, and pharmaceuticals. The market has also been classified based on type of form, into semi rigid, rigid, and flexible. Geographically, Asia Pacific is anticipated to overtake as the most lucrative region towards the end of 2024, producing more demand for retort packaging than other prominent regions of Europe and North America.

Increasing Uptake of Ready-to-eat Meals Driving Demand

The retort packaging market is feeding off the flourishing food and beverage industry. The demand for packaged ready-to-eat meals is on the rise among urban populations and manufacturers are resorting to these lightweight and flexible modes of packaging that also go a long way in extending the shelf-life of the products. While stringent regulations against the use of PVC and HDPE materials is hindering the market’s prosperity, the players are indulged in the development of ecofriendly products to counter the challenge. The growing demand from the pharmaceutical industry, and rising applications across pet care products are also expected to reflect positively on the retort packaging market in the near future.

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