Retort Packaging Market Is Driven By Growing Demand For Convenience And Ready-To-Eat Food Products
Retort packaging is used to pack food products that need commercial sterilization or require thermal processing to increase their shelf life without the need for refrigeration. The global retort packaging market provides packaging solution for diverse food items including meat products, instant food, pet food, baby food, and sauces, owing to its advantage of retaining the quality, taste, and nutritive value of food over an extended shelf life. These retort pouches or packaging trays are made from casting PET, polyamide, or aluminium foil and offer high barrier protection against microbes and long shelf life of 12-24 months.
The Global Retort Packaging Market Growth is estimated to be valued at US$ 40.82 Mn in 2024 and is expected to exhibit a CAGR of 7.7% over the forecast period 2024 to 2030.
The growing demand for convenient and ready-to-eat food and pet food items is boosting the adoption of retort packaging globally.
Key Takeaways
Key players operating in the Retort Packaging market 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 growing demand for convenient food and rising disposable income in developing countries are fueling the sales of ready meals, baby food, pet food and other retort processed food items. The convenient packaging solution offered by retort pouches with high barrier protection is gaining popularity for food packaging.
The manufacturers are also expanding their production and distribution footprint across Asian, European, and South American countries to leverage the growth opportunities. Major players have collaborated with food brands and private labels to provide customized retort packaging solution and increase their global market share.
Market drivers
The key driver for the growth of retort packaging market is the increasing demand for convenient food packaging among working professionals and millennials. The retort pouches provide easy cooking and serving options for foods like curry, soups and meals without any mess. The long shelf life of retort packaged foods reduces food wastage and satisfifies the need of consumers looking for convenience.
Current geopolitical tensions are significantly impacting the growth of the retort packaging market. The ongoing Russia-Ukraine conflict and rising economic sanctions have disrupted global supply chains and trade flows. There are shortages of raw materials like aluminium that are important inputs in retort packaging production. Export restrictions imposed by some countries due to the war have restricted the availability of retort packaging products in international markets. Rising fuel and transportation costs due to high crude oil prices are escalating production costs for retort packaging manufacturers. Packaging companies now need to look at alternative sourcing options and developing local supply networks to minimize dependencies on problematic regions. Adopting flexible manufacturing strategies and capacity optimization on a real-time basis will help firms tide over difficult market conditions arising from geopolitical risks.
North America currently holds the largest share of the global retort packaging market in terms of value. This is attributed to robust demand for shelf-stable packaged food from the region's large food processing industry and busy consumer lifestyles that favor convenient ready-to-eat meals. The Asia Pacific region is projected to witness the fastest growth during the forecast period owing to rising incomes, rapid urbanization, and growing health awareness driving the sales of nutrition-rich packaged food items. Countries like China, India and Indonesia offer abundant market opportunities for retort packaging suppliers given their huge population bases and expanding middle-class populations.
In terms of production capacity, some of the key regions for retort packaging are Western Europe, Eastern Europe, and Latin America. Countries such as Germany, Italy, Poland, Brazil, Mexico have major manufacturing clusters for retort pouches, trays, and bags serving both domestic as well as international customers. Availability of cost-competitive labor and proximity to raw material sources attract packaging converters to set up facilities in these locations. However, high freight costs sometimes pose logistical challenges for serving distant markets.
Get More Insights On This Topic: Retort Packaging Market
Explore More Related Topic: Global Sustainable Fashion Market
Arabic
Français
Español
Português
Deutsch
Türkçe
Dutch
Italiano
Russian
Romaian