The global retort packaging market size was valued at USD 4.62 billion in 2023. The market is projected to be worth USD 4.85 billion in 2024 and reach USD 7.51 billion by 2032, exhibiting a CAGR of 5.61% during the forecast period.
A retort pouch is food packaging type produced by using a laminate of metal foils and flexible plastic. The increasing use of retort pouches, cups, and trays in the food industry to propel the adoption of retort pouches.
The COVID-19 pandemic had a positive impact on the market growth. The positive impact was attributed to the increased demand for sterilized packaging solutions in the industry and growth in the pharmaceutical sector during the pandemic boosted market expansion.
Fortune Business Insights™ mentions this in a report titled, “Retort Packaging Market Size Report, 2024-2032.”
Segments
Plastics Segment to Lead as it Offers Flexibility and Strength to Retort Bags
By material, the market is classified into plastics, aluminum, and others. The plastics segment is dominating the market and is expected to grow during the forecast period. Plastics offer flexibility and strength to the retort trays, pouches, and bags, along with better sealing layer, which further augments segment growth.
Bags & Pouches Dominate the Market Owing to the Growing Cost-Effective Packaging Solutions Demand
On the basis of product type, the market is categorized into bags & pouches, cups, trays & cups, and others. The bags & pouches segment is projected to grow significantly during the projected period and is dominating with the rising demand for cost-effective packaging solutions, which increases the shelf life of products, including pet food, meat, baby food, fish, and others.
Surging Consumption of Baked Foods to Drive Food Segment Growth
Based on end-use, the market is classified into food, beverages, and others. The food segment is leading the end-use segment attributed to the rising baked food consumption.
Geographically, the market is studied across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Report Coverage
The report offers:
- Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
- Comprehensive insights into regional developments.
- List of major industry players.
- Key strategies adopted by the market players.
- The latest industry developments include product launches, partnerships, mergers, and acquisitions.
Drivers & Restraints
Increasing Consumption of Packaged Food by Consumers to Drive Market Growth
The surging intake of packaged food by consumers along with the increasing demand for ready-to-eat food items drive the retort packaging market growth. The market growth is also propelled by the growing interest of consumers toward packaged food and rising food industry globally.
However, the high cost of primary machine and the complexity of the process may impede the market expansion.
Regional Insights
Asia Pacific Dominates the Market Due to Increase in Cost-Effective Packaging Solutions Demand
Asia Pacific is the leading region in the retort packaging market share. The region’s growth is attributed to the increasing demand for cost-effective packaging solutions integrated with the growing packaged foods demand, such as ready to eat meals, and changing consumer lifestyles.
North America is the second leading region in the market due to the surging use of retort trays, pouches, and containers owing to their features, including lightweight and portability.
Competitive Landscape
Key Players are Offering Innovative Packaging Solutions Driving Market Expansion
In terms of the competitive landscape, the market consists of key players, including Amcor, Coveris, and others. These major players in the market are offering innovative packaging solutions in the packaging industry to maintain competitive edge in the market.
Key Industry Development
April 2022 – ProAmpac launched high-performance retort pouches containing post-consumer recycled materials. The company had developed these unique ProActive PCR retort pouches to fulfill the increasing demand for post-consumer recycled (PCR) packaging solutions.
List of Key Players Present in the Report:
- Amcor (Switzerland)
- Sealed Air (U.S.)
- Coveris (Austria)
- Mondi (U.K.)
- Huhtamaki Oyj (Finland)
- Sonoco Products Company (U.S.)
- Constantia Flexibles (Austria)
- ProAmpac (U.S.)
- Flair Flexible Packaging Corporation (Canada)
- Winpak Ltd. (Canada)
- Logos Packaging (China)
- DNP America (U.S.)
- HPM Global Inc. (South Korea)
- Printpack (U.S.)
- Tetra Pak (Switzerland)
