Growing demand for advanced material across several industries is a significant factor influencing growth of the market.
Market Size – USD 4 Billion in 2020, Market
Growth – at a CAGR of 5.5%, Market Trends –Increasing demand for advanced
material across industries
The global Retort
Packaging Market is projected to be valued at USD 6.13
billion by end of 2028 from valuation of 4 billion in 2020, expanding at a CAGR
of 5.5% over the forecast period. The growing demand for ready-to-eat or
ready-to-cook meals across the globe is fueling growth of the retort packaging
market. Additionally, the other factors impacting growth of the market include
increasing demand for packaged food and beverages owing to growing single
households, busy work life, and increasing spending power.
Retort packaging offers convenience and reduce overall
weight of material, which is further encouraging adoption by the end use
industries. This is a key factor driving growth of the retort packaging market
and is likely to be same over the forecast period. Furthermore, the US Food and
Drugs Administration (FDA) has approved the raw material and suggested that the
packaging is safe for the sterilization process for enhancement of shelf life.
This results in durability of packaging; rising awareness about such packaging
is benefiting growth of the retort packaging market.
Key
players operating in the retort packaging market such as
Berry
Global Inc., Amcor PLC, Coveris, Sonoco, Huhtamaki Oyj, and Mondi Group.
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Key Findings from the Report
- Based
on type, the pouches segment is projected to hold substantial share in the
retort packaging market and is likely to retain its dominance over the
forecast period. The pouches segment is estimated to expand by exhibiting
fastest CAGR over the forecast period owing to beneficial properties of
retort pouches such as lightweight, less spacing consuming.
- Based
on the end use, the food segment is estimated to hold substantial share in
the revenue of overall market revenue owing to its demand for improved
packaging for ready-to-eat meals, pet food, meat poultry & seafood,
and baby food.
- Regionally,
the Asia Pacific region is projected to hold substantial share in the
overall revenue of the market owing to the factors such as largest
population in the region, increasing per capita income, and busy lifestyle
of people are driving regional growth from past few years. Additionally,
robust adoption and flourishing packaged food industry in the countries
such as Australia, China, Japan, and South Korea is driving regional
growth of the market.
- The
key players in the consumer goods are increasingly depending on packaging
solutions, to gain a competitive edge. In order to gain this, the
consumers are demanding with extended shelf life and are easy to use.
To
identify the key trends in the industry, click on the link below: @ https://www.reportsanddata.com/report-detail/retort-packaging-market
For the purpose of this report, Reports and Data has
segmented the global retort packaging market on the basis of packaging
type, packaging, process, end user, and region:
By Type (Revenue, USD Billion; 2018-2028)
- Pouches
- Trays
- Cartons
- Others
By Material (Revenue, USD Billion; 2018-2028)
- PET
- Polypropylene
- Aluminum
foil
- Polyethylene
- Polyamide
- Paperboard
- Others
By End-use (Revenue, USD Billion; 2018-2028)
- Food
- Beverages
- Others
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By Region Outlook (Revenue, USD Billion;
2018-2028)
- North
America
- Europe
- Asia
Pacific
- MEA
- Latin
America
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