Retort Packaging Market is expected to expand at a CAGR of 5.2% With valuation of US$ 28.4 Bn by 2031.
WILMINGTON, DELAWARE , USA, June 24, 2022 /EINPresswire.com/ — 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 & beverage 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
Preference of Retort Pouches for Convenience Food Spurring Revenue Potential: Retort pouches have gained marked preference over aluminum trays and cans in the packaging of food products. Especially the use of the packaging for ready-to-consumer convenience food products has generated vast revenue potential, assert analysts in the in-depth TMR study. Retort pouches are extensively used for pet food products, as they are well-deigned, sturdy, and lightweight.
Multi-layered Retort Packaging Films for F&B Packaging to Propel Market Growth: Players in the retort packaging market are garnering revenue gains from advancements made in flexible packaging. Packaging companies find a sales avenue in multi-layered retort packaging. Multilayer plastic films are gathering traction in retort pouches. Extensive R&D in these have paved way for new avenues. A case in point is companies exploring the potential of polypropylene multi-layer sealant films for retort packaging.
Environment-Friendly Packaging Solutions to Open New Frontiers: Globally, the use of earth-friendly raw materials has gained enormous momentum. This has also spurred the need for recyclable materials for retort packaging. This has set the tone of product innovation in recent years. Key packaging companies are seeking lucrative revenue gains by making extensive efforts for developing recyclable retort pouches.
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Retort Packaging Market: Key Drivers
The past few years have witnessed the rise in consumption of packaged food products globally. This has propelled the need for flexible packaging, thus opening abundant opportunities for retort packaging manufacturers. In particular, businesses in end-use industries have become more aware about sustainable packaging solutions.
The popularity of online food delivery is a key trend that has spurred the demand for flexible packaging for convenience food.
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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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