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| Retort Packaging market |
The Retort Packaging market is estimated to be valued at US$ 35.43 billion in 2022 and is expected to exhibit a CAGR of 9% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Retort packaging refers to rigid or flexible pouches made from materials such
as polyester and aluminum foil laminates that can withstand high temperatures
required for sterilization of packaged food items. Retort packaging helps
extend the shelf life of foods and beverages by protecting them from
microorganisms through retort sterilization process. It enables convenient
cooking and consumption of packaged foods such as ravioli, soups and entrees
without any pre-cooking or reheating requirement.
Market Dynamics:
The retort packaging market is expected to witness significant growth over the
forecast period owing to rising demand for sustainable and lightweight
packaging solutions from food processing industry. Retort packaging provides
greener alternatives to traditional metal cans as they utilize less material
and enable easy disposal through recycling. The packages also help food
manufacturers extend product shelf life without refrigeration, reducing food
wastage. This property has gained more importance amid the ongoing COVID-19
pandemic as consumers are preferring packaged foods with longer shelf lives.
Additionally, increasing out of home consumption and demand for ready-to-eat
meals has boosted adoption of retort packaging worldwide
SWOT Analysis
Strength: The retort packaging market provides three major strengths - it
offers long shelf life to products without refrigeration, requires minimal
resources for production, and allows versatile packaging formats. Retort
packaging helps extend the shelf life of products for 6-18 months without any
refrigeration. Producing retort pouches and containers requires minimal raw
materials and resources compared to other packaging types. Retort packaging is
available in various formats like pouches, trays, and rigid containers suitable
for diverse product types.
Weakness: High initial costs for machinery and production setup is a weakness
for retort packaging. Further, retort packaging materials have limited barrier
properties and may allow some gas/moisture exchange over long storage periods.
Opportunity: Growing demand for convenient packaging from ready-to-eat and
frozen food sectors offers opportunities for retort packaging. Rising focus on
food safety and longer shelf life without refrigeration also presents
opportunities.
Threats: Stringent regulations regarding packaging waste recovery and recycling
poses threats. Substitutes like active and intelligent packaging having
advanced features also threaten retort packaging adoption.
Key Takeaways
The global Retort
Packaging Market Share is
expected to witness high growth, exhibiting CAGR of 9% over the forecast period, due to increasing demand for
convenient and long shelf-life packaging from food processing industries.
Regional analysis: Asia Pacific dominates the retort packaging market,
accounting for over 35% share, due to large ready meals and food processing
industries in China, India. North America and Europe follow Asia Pacific in
market size due to growing retail sector and demand for packaged convenient
foods.
Key players: Key players operating in the retort packaging market are Amcor,
Mondi, Sonoco, Clondalkin Group, Coveris, Huhtamaki, Winpak, Berry Plastics,
Proampac, Flair Flexible Packaging, Constantia Flexibles, Tetra Pak, Sealed
Air, Plastipak Packaging, Printpack, Bryce Corporation, Floeter India Retort
Pouches, HPM Global, Sopakco Packaging, Fujimori Kogyo. These players are
focusing on new product development and capacity expansion strategies to gain
higher market share.
Read More,
https://www.newsstatix.com/retort-packaging-market-trends-size-and-share-analysis/
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