Retort packaging helps extend the shelf life of food products by using a thermal sterilization process. It involves sealing food in a pouch or tray then applying heat to kill any microorganisms, thereby preventing spoilage.
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: The major players 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. These companies are focusing on new product development and geographic expansion to strengthen their presence.
Key opportunities: Rising demand for ready-to-eat meals and long shelf-life packaged food offers significant opportunities for players in the retort packaging market. the growing working population has increased the demand for convenient packaged food products.
Global expansion: Key players are expanding their manufacturing facilities globally especially in Asia Pacific and South America to cater to the growing demand form countries like India, China, Brazil etc. Companies are also forwarding integrating by acquiring plastic product manufacturers and food processing units.
Market drivers: The demand for retort packaging from food processing industry is the key factor driving market growth. Retort packaging helps extend the shelf life of foods upto 3 years without any refrigeration. This feature is increasing its adoption over conventional packaging methods.
Market restrain: High cost of retort packaging compared to other packaging methods can restrain the market growth. Retort pouches and trays involve multi-layered high-barrier materials and thermal processing which increases their costs. This deters their usage for certain food products with lower profit margins.
Segment Analysis
The retort packaging market can be segmented by type as pouches, trays, cartons. Pouches dominate the market with over 50% share as they are easy to use, lightweight and provide excellent sealing. Pouches retain the flavor, texture and nutritional value of food thus extending shelf life without refrigeration.
The retort packaging market can also be segmented by material as plastic, aluminum foil, paper. Plastic segment dominates with a share of over 60% as plastic films used in retort packaging such as polyester, nylon, polypropylene, polyethylene are resistant to heat sterilization and provide excellent moisture and gas barrier properties critical for retort packaging.
Global Analysis
Regionally, Asia Pacific dominates the retort packaging market with over 35% share and is expected to witness the fastest growth during the forecast period. Growth in Asia Pacific is attributed to rising food processing industry, increasing demand for convenient packaged food and rising disposable incomes in countries such as China, India. North America and Europe are also significant markets for retort packaging driven by established food processing industries and demand for longer shelf life packaged food. Key players dominating the retort packaging market globally include Amcor, Berry Global, Graphic Packaging Holdings, Coveris etc.
Get More Insights On This Topic: Retort Packaging Market
Explore More Related Topic: Global Sustainable Fashion Market
Comments
0 comment