Retort Packaging Market: Global Opportunity Analysis and Industry Forecast, 2023-2032

WILMINGTON, DELAWARE, UNITED STATES, August 21, 2024 /EINPresswire.com/ -- Retort packaging is a heat-sealing method used to preserve food, commonly associated with canning but also applicable for storing liquids and powders. The process involves sealing a container with a heated lid to create an airtight barrier, ensuring no bacteria or contaminants enter during storage or transport.

The retort packaging market size was valued at $14.6 billion in 2020, and is estimated to reach $28.5 billion by 2032, growing at a CAGR of 5.6% from 2023 to 2032.

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Top Impacting Factors:
The growing demand for eco-friendly products, the high consumption and degradation rates of goods, and the rapid expansion of personal care products in developing countries are key drivers of the retort packaging market. Unlike traditional canning methods, which involve heavy and bulky cans and jars that take up considerable shelf space and increase warehousing and transportation costs, retort pouches are lightweight and space-efficient.

The sterilization process in retort packaging is achieved through rapid heat transfer, with the thin profile of retort pouches significantly reducing the time required for sterilization. These advantages make retort pouches a viable alternative to cans and jars for food storage. The expected increase in demand for retort pouches in the food and beverage industry, driven by these benefits, is likely to fuel the growth of the retort packaging market. Additionally, the shift toward processed food due to increasingly busy lifestyles is further boosting this demand.

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Rapid growth in the food and beverage sector and increasing consumer preference toward on-the-go food & beverages is another factor that is expected to drive the retort packaging market. Furthermore, the increase in consumption of packaged food & beverage in the developed countries offers significant growth potential for the global market. In addition, the continuous inflow of new, innovative design offerings in the retort packaging market offers lucrative opportunities for market growth. However, uncertain prices of raw materials, and intense competition limit the market growth.

Asia-Pacific accounted for the highest share in the global retort packaging market share, in terms of revenue in 2020. Moreover, the market in LAMEA is anticipated to grow with the highest CAGR, during the forecast period, owing to a rise in awareness of sustainability.

Various manufacturers in the retort packaging market such as Amcor PLC, Mondi Group PLC, Sealed Air Corporation, and ProAmpac offer a wide variety of retort packaging food, beverages, and other industry verticals. For instance, in August 2023, Amcor launched its AmFiber Performance Paper packaging is now available to customers in Latin America seeking a high barrier, recyclable paper-based packaging solution. Launched first for the confectionery market with cold seal, it has been recently expanded to include heat seal sachets for dry culinary and beverage applications, such as instant coffee, drink powders, spices, seasonings, and dried soups.

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Competition Analysis
Competitive analysis and profiles of the major players in the retort packaging market are Amcor PLC, Berry Global Group, Inc., Constantia Flexibles Group, Huhtamaki Flexible Packaging Ltd., Mondi Group, ProAmpac, Sonoco Products Company, Sealed Air Corporation, Tredegar Corporation, Winpak Limited. Major players have adopted product launch, collaboration, and acquisition as key developmental strategies to improve the product portfolio of the retort packaging market.

Key Benefits For Stakeholders
The report provides an extensive analysis of the current and emerging retort packaging market trends and dynamics.
In-depth retort packaging market analysis is conducted by constructing market estimations for the key market segments between 2020 and 2032.
Extensive analysis of the retort packaging market outlook is conducted by following key product positioning and monitoring of the top competitors within the market framework.
A comprehensive analysis of all regions is provided to determine the prevailing opportunities.
The retort packaging market forecast analysis from 2022 to 2032 is included in the report.
The key market players within the retort packaging market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the retort packaging industry.

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