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Global Retort Pouches Market to Reach US$ 2.1 Billion by 2024, Spurred by Increasing Preference for Packaged Foods

According to the latest report by IMARC Group, titled “Retort Pouches Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global retort pouches market size reached US$ 1.3 Billion in 2018. Retort pouches are a type of packaging solution widely utilized in the food and beverage, pharmaceutical and healthcare industries. They are laminated with multiple layers of metal foils and flexible plastic, which can withstand high temperature and intense pressure. They also contain lightweight polyethylene or PET films, which prevent air and moisture from entering and spoiling the contents. Since these pouches aid in preventing contamination or spillage of the content while extending its shelf-life, they are extensively used as a preferred packaging solution for foods, beverages, medicines and medical equipment.

Global Retort Pouches Market

Global Retort Pouches Market Drivers:

The significant increase in the sales of packaged food products is one of the key drivers of the market for retort pouches. Owing to various factors, such as rapid urbanization, busy schedules, shifting dietary preferences and inflating per capita income levels, there is an increasing inclination toward the consumption of on-the-go and ready-to-eat food products such as frozen seafood. Furthermore, single-serve and small-sized packaging are continually gaining popularity, owing to the associated advantages, including ease of handling, convenience, limited space consumption, and portion control. Also, retort pouches are emerging as a crucial tool for creating brand awareness among consumers. Manufacturers and established brands are investing significantly to develop customizable labeling solutions with attractive designs, which also reflect the relevant product details. Add-on features including slider closures with end-clips and resealable zippers, along with increasing research and development (R&D) activities to improve the existing and incorporate new production methods, are further creating a positive outlook for the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 2.1 Billion by 2024, growing at a CAGR of around 8.4% during 2019-2024.

Market Summary:

  • On the basis of the product type, the market has been divided into stand-up pouches, spouted pouches, zipper pouches, pillow pack and 3-side sealed. Amongst these, stand-up pouches represent the most preferred type.
  • Based on the capacity, medium exhibits a clear dominance in the market, followed by low and high.
  • On the basis of the closure type, without cap is the leading segment, followed by with cap.
  • Based on the material type, the market has been categorized into polypropylene, aluminum foil, polyester, nylon, paper and paperboard and others. At present, polypropylene holds the largest market share.
  • On the basis of the application, the market has been bifurcated into food and beverage, and healthcare. Currently, the food and beverage segment accounts for the majority of the total market share.
  • On the geographical front, Asia Pacific holds the leading position in the market. Other major regions include North America, Europe, Middle East and Africa, and Latin America.
  • The competitive landscape of the market has also been analyzed with the detailed profiles of the key players operating in the market, including Otsuka Holdings Co. Ltd., Berry Plastics Corporation, Mondi PLC, Amcor Limited, Sonoco Products Company, Astrapak Ltd., Coveris, Bemis Company, Inc, Tredegar Corporation, Sealed Air Corporation, Huhtamaki Group, Clifton Packaging Group Ltd., Foshan Nanhai LD Packaging Co., Ltd., Constantia Flexibles International GmbH, ProAmpac, Alliedflex Technologies Ltd., and Flexi-Pack Ltd.

 

 

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