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| Retort Packaging Market Growth |
The global retort packaging market is expected to grow multifold owing to increasing demand for convenient packaging from ready-to-eat meal manufacturers. Retort packaging offers extended shelf life to food products by using high temperature sterilization or pasteurization techniques. It helps food manufacturers deliver fresh and ready-to-consume meals in easy-to-use packaging. Products such as soups, sauces, infant food, pet food etc. widely use retort packaging for its advantageous properties.
The Global
retort packaging market is estimated to be valued at US$ 91.91 BN 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 key players are focusing on expanding their
production capacities and global footprints to leverage the growth
opportunities in the market.
The demand for ready meals is increasing rapidly owing to changing lifestyles
and busy schedules. Retort packaging helps food manufacturers offer
shelf-stable ready meals, gaining traction among working professionals and
millennials. Growing overseas workforce is also generating demand for retort
pouches containing regional food.
Major companies are expanding their manufacturing plants in Asia Pacific and
Latin America to cater to the growing demand from these regions. Developing
economies with hot and humid climates heavily rely on retort packaging
technology to preserve food without refrigeration.
Market Drivers
Rising demand for convenient food packaging from ready meals manufacturers is
the key driver for retort packaging market. Retort packaging offers advantages
like lightweight and compact nature. It allows manufacturers to offer
portion-controlled servings in easy to use packaging. The shelf-stable
properties of retort packaging gains considerable traction from military,
outdoor and travel industries where unrefrigerated meals are essential. Growth
in these ancillary industries will continue to drive the adoption of retort
packaging globally.
PEST Analysis
Political: Regulations regarding food preservation and safety are increasing.
Restrictions on packaging that cause environmental pollution are also being
tightened.
Economic: Increasing disposable incomes and changing lifestyles leading to
demand for convenient packaged foods are fueling market growth. Rising food
trade globally is also supporting market expansion.
Social: Growing health awareness among consumers is generating demand for fresh
and healthy ready-to-eat meals. Consumers prefer innovative packaging solutions
that enhance shelf life and ensure food integrity.
Technological: Advancements in thermal processing and aseptic packaging
technologies are enabling efficient manufacturing of shelf stable packaged
foods. Packaging films with extended barrier properties against oxygen,
moisture and pollutants are also being developed.
The geographical regions concentrating the highest value in the retort
packaging market include North America, Western Europe and Asia Pacific
excluding Japan. North America accounts for a major share due to strong demand
for packaged convenience foods in countries like the US and Canada. Western
Europe is another major regional market fueled by demand from countries like
Germany, France, Italy and UK.
The fastest growing region for the retort packaging market is expected to be
Asia Pacific excluding Japan over the forecast period. Rapid urbanization,
rising working population and improving living standards are supporting the
demand for convenient packaged foods in developing countries like China and
India. Countries in Southeast Asia are also witnessing fast growth in food
trade and demand for extended shelf life packaging solutions.