Global retort packaging market is expected to grow at a compound annual growth rate of 5.85% to reach a market size of US$47,537.702 million by 2024 from US$33,800.664 million in 2018. Retort packaging is made from heat resistant laminated plastic or metal in which food products are sterilized. The property of increased shelf life and low cost is expected to boost the market growth. Further, rising demand for convenience food is anticipated to augment the demand for the market. In addition, the growing consumer preference for products with flexible packaging which are easy to handle is projected to boost the demand for retort packaging market. Food & beverage and pharmaceutical industries are expected to hold significant share in the market during the forecast period.
DRIVERS
Rising demand for flexible packaging.
Increasing demand for ready to eat products.
RESTRAINTS
Presence of alternative forms of packaging.
The major players profiled in the retort packaging market include Constantia Flexibles, FLAIR Flexible Packaging Corporation, ProAmpac, CLONDALKIN GROUP, Winpak Ltd., Amcor Limited, Mondi Group, and Sonoco Products Company.
Segmentation
The retort packaging market has been analyzed through the following segments:
By Material Type
Polypropylene
Polyester
Polyethylene
Aluminum
Others
By Product
Cartons
Trays
Pouches
Others
By End-User
Pharmaceuticals
Food & Beverage
Others
By Geography
North America
USA
Canada
Mexico
South America
Brazil
Argentina
Others
Europe
Germany
France
United Kingdom
Spain
Others
Middle East and Africa
Saudi Arabia
Israel
Others
Asia Pacific
China
Japan
South Korea
India
Others