Global Retort Packaging Market is Estimated to Expand at a CAGR of 6.5% from 2015 to 2021
Deerfield Beach, FL -- (SBWIRE) -- 07/24/2017 -- Zion Market Research has published a new report titled "Retort Packaging (Cartons, Pouches and Trays) Market for Beverage, Food, Healthcare and Other End-Uses: Global Industry Perspective, Comprehensive Analysis and Forecast, 2015 – 2021." According to the report, global demand for retort packaging market was valued at USD 28.0 billion in 2015, and is expected to reach USD 43.50 billion in 2021, growing at a CAGR of 6.5% between 2016 and 2021. In terms of volume, the global retort packaging market stood at 250.59 million units in 2015.
Retort packets are flexible and strong packaging forms made up of four layers. Each layer is of different material such as polyester, nylon, aluminum foil and propylene. This packaging is mainly utilized in food and beverage packaging. It is the most suitable form of food preservation in rigid, and flexible packaging system. Due to this property, it has broad range of applications such as space food, camping food, field rations, medical and healthcare, etc.
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Increasing demand for packed food along with increase in demand for baby food across the globe is expected to provide an impetus to the retort packaging markets within the forecast period. In addition, changing lifestyle and increasing urbanization is expected to fuel the demand for retort packaging market over the next few years. However, development techniques is costly coupled with rising concept of raw material recycling may hamper the growth of retort packaging market. Moreover, advancing technology is expected to open growth opportunities for the market in the near future.
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Retort packaging market is expected to have robust growth within the forecast period owing to flexible and easy packaging, easy to open and easy to cook. In terms of volume, pouch was the largest product segment accounting more than 40% of the global retort packaging market. Pouch segment was followed by trays and cartons respectively in 2015.
Food and beverage together was the dominant end-user segment of the retort packaging market in 2015 owing to rising demand for packed food compared to canned food. It accounted over 42% share of the overall retort packaging market in 2015. It is also projected to remain prolong end-use segment due to growing demand from emerging countries within the forecast period. In addition, medical and healthcare are also estimated to have positive impact for use of sterile packaging.
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With the largest share, Asia Pacific was a leading regional market for retort packaging in 2015. It accounted over 35% share of volume consumption and further expected to remain major regional market for retort packaging due to growing demand from emerging countries such as India and China. Europe is the second largest regional market in the same year. North America is expected to have moderate growth during the years to come.
Some of the key companies involved in the global retort packaging market includes Mondi Group, Otsuka Holdings Company Limited, Sonoco, Amcor Limited, Bemis Company Inc., Berry Plastics, Clondalkin Industries BV, Astrapak Limited and amongst others.
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