The latest report by IMARC, titled “Retort Packaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, finds that the global retort packaging market reached a value of US$ 3.9 Billion in 2022. Retort packaging refers to semi-grid laminated plastic pouches used for packing and sealing numerous semi-cooked and cooked microwavable food products after sterilization. It depends on the thermal food processing technique, where sealed pouches are put under an autoclave machine to heat packages with hot water or steam under pressure. Retort packaging is produced by combing the layers of numerous materials, including polyester (PE), nylon, aluminum foil, and polypropylene (PP). These coatings provide optimal strength and printable surfaces, and shield the product from light gases and odor. This packaging is lightweight, aids in rapid heat transfer, ensures content sterilization, and extends the shelf life of the product without any preservatives or refrigerators. In recent years, retort packaging has gained momentum as it is used to maintain the texture, aroma, color, and taste of food products by maintaining their overall quality.We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of the associated industries. These observations will further be integrated into the report.
Global Retort Packaging Market Trends:
One of the primary factors driving the market is the exponential growth in the food and beverage (F&B) industry due to the rising consumption of numerous ready-to-eat (RTD), processed products. Additionally, transportation and warehousing activities need heat-resistant, laminated, and lightweight packaging solutions to minimize product wastage and shipment costs. Consequently, there has been escalating demand for retort packaging globally. Other than this, retort packaging solutions offer a better surface-to-volume ratio compared to traditional metal cans and other packaging solutions. Besides this, the easy product accessibility through e-commerce platforms, on account of the sudden outbreak of coronavirus disease (COVID-19), is positively influencing the market growth. Other growth-inducing factors include strategic collaborations amongst key players to introduce retort cans, trays, and pouches with aesthetic designs, along with changing consumer preferences. Looking forward, IMARC Group expects the market value to reach US$ 5.8 Billion by 2028, expanding at a CAGR of 7% during the forecast period (2023-2028).
- Based on the packaging type, the market has been divided into pouches, cartons, trays, and others.
- On the basis of the material type, the market has been segmented into polypropylene, polyester, aluminum foil, paper board, nylon, food grade cast polypropylene, and others.
- Based on the end user, the market has been segregated into food, beverages, and others.
- Region-wise, the market has been classified into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa,
- The competitive landscape of the market has also been analyzed, with some of the key players being Amcor plc, Clifton Packaging Group Limited, Constantia Flexibles, Coveris, DNP America LLC (Dai Nippon Printing Co. Ltd.), FLAIR Flexible Packaging Corporation, Huhtamaki Oyj, Mondi plc, Otsuka Holdings Co. Ltd., ProAmpac, Sealed Air Corporation, Sonoco Products Company, and Tetra Pak (Tetra Laval Group).
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