Transparency Market Research delivers key insights for the retort packaging market in its published report, which includes global industry analysis, size, share, growth, trends, and forecast for 2019–2027. In terms of revenue, the market is projected to expand at a CAGR of ~5% during the forecast period, due to several factors, about which, TMR offers detailed insights and forecast in this report.
Retort Packaging Market – Overview
Nowadays, packaged food products needs to get oxidized for longer shelf life by removing preservatives and making them organic. Food products are packed in special carrier film that can withstand temperatures of around 130 degree Celsius, so that all microorganisms are killed. For this, a better package known as retort packaging is used. Retort packaging kills all microorganisms when sterilized. The shelf life of products in retort packages is nearly 18 months.
Advantages of retort packaging over conventional packaging drive its usage in the market. The introduction of microwave-compatible packages that need no refrigeration allows products to withstand processing and storage conditions without losing their natural odours, which also permits rapid microwave heating. Retort packaging protects products from oxygen and moisture, and is also cost-effective.
Asia Pacific to Witness Growth Opportunities for Retort Packaging Manufacturers
The retort packaging market in Asia Pacific is estimated to have a market share of ~38% in the global market, and is projected to enhance the sales of retort packaging. In the APAC region, India and China are the emerging markets for extensive growth of retort packaging, likely to account for ~54% share of the APAC retort packaging market in 2019. The need for convenience packaging is the ongoing trend in the retort packaging market in the Asia Pacific region. This is a packaging type that can increase the barrier property against the external environment.
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APAC is projected to dominate the global retort packaging market during the forecast period. Europe is anticipated to be the second dominant region in 2019. In North America, the U.S. represents ~80% of the retort packaging market, while Canada is likely to expand at a very impressive CAGR of ~6% during the forecast period.
Matured markets in North America and Europe are expected to represent combined incremental opportunity of ~US$ 3.5 Bn by 2027. The North American region holds ~one-fourth of the global retort packaging market share.
Global Retort Packaging Market: Competition Landscape
In the global market report on retort packaging, a detailed competition landscape is discussed. Some of the key players in the global retort packaging market that are included in the report are Amcor plc, Winpak Ltd., Sealed Air Corp, Sonoco Products Company, Proampac LLC, Tredegar Corporation, Coveris Holdings S.A., and Mondi Group. They are the market leaders with a combined market share of ~8-12% of the global retort packaging market.