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.
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Key players operating in the retort packaging market such as:
Berry Global Inc., Amcor PLC, Coveris, Sonoco, Huhtamaki Oyj, and Mondi Group. These key players are increasingly adopting several strategies to strengthen their product portfolios, enhancing growth prospects, and expansion of their presence in the retort packaging market.
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.
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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:
- Aluminum foil
By Region Outlook (Revenue, USD Billion; 2018-2028)
- North America
- Asia Pacific
- Latin America
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