Retort Packaging Market to Reach US$ 28.4 Bn by 2031, Finds TMR Study
ALBANY, N.Y., Jan. 12, 2022 /PRNewswire/ -- Retort packaging, including pouches and trays, are gathering traction for the packaging of ready-to-eat meals and convenience food products. The use of retort packaging is growing for packaging of meat, seafood, soups, sauces, and desserts. Rise in consumption of convenience food is spurring the sales of products in the retort packaging market. The global valuation is projected to advance at CAGR of 5.2% during the forecast period of 2021–2031.
Laminated retort pouches are widely being adopted as an advanced pouch packaging by food & beverages companies worldwide owing to their lightweight, durability, and high barrier properties. Key pouches used in end-use applications are stand-up pouches, back-seal quad, spouted pouches, and gusseted pouches.
The use of heat-resistant plastic materials such as thermoplastics has extended the avenue, find a TMR study on the retort packaging market. They are being preferred for packaging of ready-to-eat food products. Plastics accounts for a sizable share of nearly 76% in 2021 among all the materials used for retort packaging. Retort packaging have also generated significant attention among companies in the pet food packaging industry.
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Asia Pacific accounted for a major share of the global retort packaging market in 2020. Substantive demand for retort packaging for ready-to-eat food has spurred the revenue prospects of the regional market.
Key Findings of Retort Packaging Market Study
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Retort Packaging Market: Key Drivers
Retort Packaging Market: Key Players
Prominent players in the retort packaging market are leaning on expansion of product portfolio. The vast value chain of the market can be attributed to the presence of well-established big players as well as small & medium sized companies, thereby rendering the landscape increasingly competitive.
Some of the key players in the market are DNP America, LLC, Avonflex Pvt. Ltd., Proampac LLC, Sonoco Products Company, Winpak Ltd., Sealed Air Corp., Huhtamäki Oyj, Mondi Group, and Amcor plc.
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Global Retort Packaging Market Segmentation
Retort Packaging Market by Product Type
Retort Packaging Market by Material Type
Retort Packaging Market by End Use
Retort Packaging Market by Region
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