Retort packaging is used for packaging various types of foods such as meat, poultry, seafood, soups, sauces, vegetables, and other foods. It involves processing the packaged food in specially designed retort pouches using temperature and pressure above the food’s boiling point. This sterilizes the food and gives it a long shelf life without refrigeration. The global retort packaging market is dominated by players offering pouches, tray, and other types of plastic and polymeric packages. Pouches are expected to witness the highest growth over the forecast period owing to increasing preference for lightweight and affordable packaging solutions.
The global retort packaging market is estimated to be valued at US$ 35.43 Bn in 2023 and is expected to exhibit a CAGR of 7.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The retort packaging market is expected to be flourished by growing demand for convenient food packaging. Retort packaging provides ready-to-eat meals in convenient packaging that can be stored and transported without refrigeration. This ease of handling and long shelf life of retort packaged foods is driving its adoption amongst manufacturers and consumers across various regions. Additionally, fast urbanization has led to changing lifestyles with increased work hours and less time for home-cooking. This has augmented the demand for conveniently packaged foods, thereby fueling the growth of the retort packaging market. The desire for extended shelf life and demand for packaging suitable for multi-temperature distribution and transport further propels the market growth over the forecast period.
Segment Analysis
The global retort packaging market is dominated by the food segment, which accounts for more than 60% market share. Being a heat-resistant packaging solution, retort packaging is highly used for packaging of foods that require commercial sterilization such as ready meals, pet foods etc. The ability of retort packaging to offer long shelf life at ambient temperatures without any refrigeration makes it ideal for food segment. The non-food segment is expected to witness high growth mainly due to increasing application in applications such as industrial and home care sectors.
PEST Analysis
Political: The government regulations regarding food safety and standards are promoting the use of retort packaging for food industry globally. Various regulations ensure sterile and long shelf life packaging of foods.
Economic: The rising disposable incomes and fast paced lifestyle leading to demand for convenient ready-to-eat meals is driving the retort packaging market. Various economic incentives are also encouraging local manufacturers.
Social: Busy work schedules and dual income households have increased the demand for packaged convenient foods which can be stored and consumed easily. This increases preference for shelf-stable retort packaged foods.
Technological: Advances in material science are helping development of new premium retort packaging films with superior properties like high temperature resistance, gas and moisture barriers. Automated packaging lines ensure high production volumes.
Key Takeaways
The Global Retort Packaging Market Size is expected to witness high growth supported by expanding ready meals and packaged foods industry.
Regionally, Asia Pacific dominates the retort packaging market and is expected to maintain lead during the forecast period supported by large population, increasing disposable incomes and growing food industry in countries such as China, India.
Key players such as BEYO Chemical Co., Ltd., Cathay Biotech Inc., Evonik Industries AG etc. operating in the retort packaging are focusing on developing sustainable packaging solutions made from renewable resources to capitalize growing demand for eco-friendly packaging. Developing packaging formats and designs catering to application specific needs of end-use industries is another growth strategy adopted by leading players.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals.