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on April 4, 2024
The retort packaging market has witnessed significant growth over the past few years owing to the growing demand for flexible, lightweight, and convenient packaging from various end-use industries such as food, healthcare and personal care. Retort pouches are pre-made packaging systems used for sterilizing low-acid canned food and are ideal for packaging food items that require high-temperature processing. The advantage of retort packaging lies in its ability to withstand retort processing temperatures of around 121°C to 138°C during commercial sterilization without deformation or rupturing.
The global retort packaging market is estimated to be valued at US$ 91.91 billion in 2024 and is expected to exhibit a CAGR of 9.3% over the forecast period of 2024 to 2031.
Key Takeaways
Key players operating in the Retort Packaging Market Growth are BEYO Chemical Co., Ltd., Cathay Biotech Inc., Chemceed, Evonik Industries AG, Haihang Industry, Selleck Chemicals, Serena Chemicals, TCI Chemicals (India) Pvt. Ltd., Thermo Fisher Scientific Inc., and UBE Industries, Ltd.
The retort packaging market offers considerable opportunities owing to the rise in demand for on-the-go food products and hybrid packs. The increasing consumer preference for convenience food with long shelf-life has prompted food processors to opt for retort packaging. Also, the ongoing innovations focused on developing sustainable and eco-friendly retort packaging materials will further support the market growth over the forecast period.
Technological advancements in retort packaging such as development of high-barrier polymers, integrated pouch forming and filling machines, and intelligent packaging solutions have boosted the market size remarkably. Introduction of premium barrier films made from bioplastics like polyhydroxyalkanoates (PHAs) has enhanced the permeability and heat resistance of retort pouches.
Market Drivers
The growth of the global retort packaging market is primarily driven by the expanding convenience food industry and rising focus on food safety. The increasing demand for easy-to-consume packaged meals along with the need for longer shelf-life of food products without refrigeration has augmented the sales of retort pouches. Moreover, favorable government regulations supporting the usage of retort packaging for boosting food exports from developing nations will further accentuate the market revenue during the forecast period.
Current challenges in Retort Packaging Market:
The retort packaging market is facing challenges like high packaging costs, changing consumer preferences, and environmental concerns related to packaging waste. Manufacturers are focusing on developing cost-effective and sustainable packaging solutions to overcome these challenges. High packaging costs make retort packaging unsuitable for low-cost food products. Additionally, growing health awareness is driving consumers towards fresh and less processed foods, affecting the demand for retort packaging. Rising environmental awareness is also creating demand for eco-friendly, sustainable packaging materials that can reduce plastic waste.
SWOT Analysis
Strength: Retort packaging offers long shelf life to products without refrigeration. It provides oxygen and moisture barrier properties helping preserve food quality.
Weakness: Retort packaging involves multi-layer materials and complex production processes making it a costlier packaging format. It also has limitations for packaging certain delicate food products.
Opportunity: Growing demand for convenient, ready-to-eat meals offers scope to use retort packaging globally. Investments in packaging technology development can help reduce production costs.
Threats: Substitution threat from alternative packaging formats like aseptic packaging that provide similar benefits at lower costs. Stringent regulations regarding plastic waste recycling also impact market growth.
Geographical regions for market concentration:
North America holds the major share in the retort packaging market, both in terms of value and volume. This is attributed to robust demand for packaged and processed food products in the region.
Fastest growing geographical region:
Asia Pacific region is projected to be the fastest growing market for retort packaging during the forecast period. Factors such as rising incomes, urbanization, and changing lifestyle & food habits in densely populated countries like India and China are driving the market growth.
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