Retort Packaging Market worth USD 4.5 Billion by 2025, registering a CAGR of 5.1%
The global "Retort Packaging Market size is projected to grow from USD 3.5 billion in 2020 to USD 4.5 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 5.1% during the forecast year. The growth of this market is attributed to the growing demand for convenient food packaging from consumers due to their fast-paced lifestyle and growing per capita income.
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In terms of value and volume, pouches is estimated to lead the retort packaging market in 2019.
Pouches by type accounted for the largest market share among all the types of retort packaging because of the increase in demand for the pouches from the ready to eat or ready meals manufacturers. These retort pouches have properties such as high strength, flexibility, and lightweight, which has made it a significant alternative to tin cans. Retort pouches uses 5% less traditional materials than tin cans and it also preserves food for longer time
In terms of value and volume, polypropylene, by material, is estimated to lead the retort packaging market in 2019.
Polypropylene, by material, led the retort packaging market in 2019, in terms of value and volume. Polypropylene is used in the inner layer of the retort package which acts as heat sealant materials. Other properties include high strength, transparent, glossy film and high puncture resistance. The growth of polypropylene is attributed to the increasing demand for retort pouches from the ready meal industry.
APAC region is projected to account for the largest share in the cosmetic packaging market during the forecast period.
APAC region is projected to lead the retort packaging market, in terms of both value and volume from 2020 to 2025. An increase in demand for retort packages in emerging economies as well as a boost in demand for convenient products from consumer drives the investments of manufacturers to develop unique & innovative packaging solutions. This in turn, increases the demand for retort packages and is further expected to boost the market in the APAC region.
Amcor PLC (Australia), Berry Global Inc. (US), Sonoco (US), Huhtamaki Oyj (Finland), Mondi Group (South Africa), and Coveris (Us) are the key players operating in the retort packaging market. Expansions, acquisitions, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the cosmetic packaging market.
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