The Retort Packaging Market is estimated to be valued at US$ 35.43 billion in 2022 and is expected to exhibit a CAGR of 9% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Retort packaging provides shelf-stable and ready-to-eat food products in flexible pouches or rigid containers. It is widely used for packaging pet food, baby food, soup and other food products that require high-temperature commercial sterilization without any refrigeration.
Market Dynamics:
1) Increased demand for shelf-stable and convenient food items: Rising busy lifestyles and on-the-go consumption trends have fueled the demand for convenient and easy-to-handle food products that do not require refrigeration. Retort packaging helps meet this demand by allowing food manufacturers to produce shelf-stable ready meals, snacks and pet food.
2) Strong focus on product innovation: Packaging manufacturers are investing heavily in new packaging formats, materials and printing technologies to deliver differentiated products and customer experiences. Various innovative product profiles like clear stand-up pouches and paperboard cartons with windows are gaining traction in the market.
Market key trends:
One of the key trends in the retort packaging market is the growing demand for sustainable and eco-friendly packaging solutions. With increasing environmental concerns, consumers prefer products packed in recyclable and biodegradable materials. Retort pouches made from materials like polyester and cast polypropylene films provide durability as well as sustainability. Manufacturers are focusing on incorporating recycled content in retort packaging films and pouches. They are also opting for bio-based resins and plant-based materials for retort packaging production.
SWOT Analysis
Strengths: The retort packaging offers high barrier protection against moisture, oxygen, and microorganisms making it ideal for storing hot foods for long durations. It provides lightweight and compact packaging solutions.
Weaknesses: The initial setup and equipment costs for retort packaging production are high. Frequent changes in retort packaging design require additional investments.
Opportunities: Growing demand for convenient, single-serve, and ready-to-eat food packaging presents an opportunity. Increasing popularity of organic and plant-based food also requires sustainable retort packaging solutions.
Threats: Stringent regulations regarding the use of plastics in food packaging pose challenges. Volatility in raw material prices can impact retort packaging costs.
Key Takeaways
The global Retort Packaging Market Share size was valued at US$ 35.43 billion in 2023. The market is expected to grow at a CAGR of 9% during the forecast period due to the increasing demand for convenient packaged food among busy consumers and small households.
The Asia Pacific region dominated the global market in 2023 with a share of over 35%, with China and India being the key markets. The high population, changing lifestyles, and increasing disposable incomes in Asia Pacific are driving the demand for packaged food and thus retort packaging in the region.
North America is expected to witness the fastest growth over the forecast period owing to rising health-conscious consumer preference for nutritious ready meals. Retort packaging manufacturers are focusing on product launches that cater to these regional demands.
Key players operating in the retort packaging market include Amcor, Mondi, Sonoco, Clondalkin Group, Coveris, Huhtamaki, Winpak, Berry Plastics, Proampac, Flair Flexible Packaging, Constantia Flexibles, Tetra Pak, Sealed Air, Plastipak Packaging, Printpack, Bryce Corporation, Floeter India Retort Pouches, HPM Global, Sopakco Packaging, and Fujimori Kogyo.
*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.