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“Increase in the demand for convenient, innovative, and unique packaging products is projected to drive the overall growth of the retort packaging market across the globe from 2020 to 2025.”
The global retort packaging market size is projected to grow from USD 3.5 billion in 2020 to USD 4.5 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 5.1% from 2020 to 2025. The global retort packaging industry has witnessed high growth primarily because of the increasing demand for convenient products worldwide. Consumers are looking for convenient food packaging solutions without any compromise with the quality and hence ready meal manufacturers are asking for more innovative packing options for their products.
“In terms of both value and volume, pouches is projected to grow at the highest CAGR during the forecast period.”
Pouches segment of the retort packaging market is projected to grow at the highest CAGR during the forecast period, in terms of value as well as volume. The growth of this segment is attributed to its increasing demand from food and beverage industry for the packing of their products. Properties of retort pouches make it a significant alternative to tin cans.
“Food end-use segment is projected to lead the retort packaging market from 2020 to 2025.”
Food includes Ready to eat meals, meat poultry & seafood, pet food, baby food, soups & sauces, and others. Food is a significant contributor to the growth of retort packaging. Retort packaging has revolutionized the food industry. It has contributed to the development of food supply channels that have helped in making seasonal foods available all year. The use of retort packaging in ready to eat meals is expected to grow at the fastest rate.
“In terms of both value and volume, the APAC retort packaging market is projected to contribute to the maximum market share during the forecast period.”
In terms of value, the APAC region is projected to lead the global market from 2020 to 2025 due to the strong demand from countries such as China, Australia, South Korea and Japan. The region has more half of the world’s population and there has been an increase in the demand for convenient products due to hectic work life and increasing per capita income. Consumers in the region are looking for ready meal products that can be consumed without much work; hence the demand for retort packages is growing in the region.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the retort packaging market.
- By Company Type: Tier 1: 15%, Tier 2: 55%, and Tier 3: 30%
- By Designation: CXOs: 10%, Managers: 20%, and Executives: 70%
- By Region: North America: 10%, Europe: 15%, Asia Pacific: 65%, Middle East & Africa: 5%, and South America: 5%
The global retort packaging market comprises major manufacturers, such as Amcor PLC (Australia), Berry Global Inc. (US), Sonoco (US), Huhtamaki Oyj (Finland), Mondi Group (South Africa) and Coveris (US).
Research Coverage
The market study covers the retort packaging market across various segments. It aims at estimating the market size and the growth potential of this market across different segments based on type, material, application, and region. The study also includes an in-depth competitive analysis of key players in the market, along with their company profiles, key observations related to their products and business offerings, recent developments undertaken by them, and key growth strategies adopted by them to enhance their position in the retort packaging market.
Key Benefits of Buying the Report
The report is projected to help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers of the overall retort packaging market and its segments and sub-segments. This report is projected to help stakeholders understand the competitive landscape of the market and gain insights to improve the position of their businesses and plan suitable go-to-market strategies. The report also aims at helping stakeholders understand the pulse of the market and provides them with information on the key market drivers, challenges, and opportunities.