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Deerfield Beach, FL -- (SBWIRE) -- 11/09/2016 -- Zion 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.
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Retort packets are particularly employed in a food and beverage packaging. These packets are made from a layer of flexible plastic and metal foils. It allows the sterile packaging of a large range of food and drink handled by aseptic processing. Retort is a process that uses heat and pressure to cook food in a strong, sealed package. It is the most suitable form of food preservation in rigid, and flexible packaging system. Retort packets are used in space food, camping food, field rations, etc.
The retort packaging market is primarily driven by strong demand for packed food coupled with demand for baby food and pet food across the globe. Changing lifestyle and increasing disposable income is another major factor that is expected to propel the demand of retort packaging within the forecast period. However, high cost of development and rising concept of raw material recycling is a major restraint that may limit the retort packaging market. Nonetheless, ongoing research and development in packaging techniques is likely to open new doors for the retort packaging demand.
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Based on type of packaging, the global retort packaging market is bifurcated into cartons, pouches and trays. Pouch packaging was leading segment of global retort packaging market. It accounted over 40% share of the entire market in 2015. However, it is expected to continue this trend due to flexibility and easy packaging in pouch cases. Trays are second largest segment of the retort packaging market in the same year.
Beverage, food, healthcare and other are the major end-uses of the global retort packaging market. Food and beverages was the dominating segment and it together accounted for more than 42% share of the total market in 2015. It is further predicted to remain prolong end-use in future owing to robust demand for packed and equipped food specifically in developing countries. Moreover, medical and healthcare is important outlets that are expected to have promising growth during the years to come.
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In terms of regions, Asia Pacific was the dominating regional market for retort packaging. It accounted over 30% share of the global retort packaging market in 2015 and further it will remain continue following this trend due to the growing demand from emerging economies such as India and China. Asia Pacific was followed by Europe and North America in the same year. Middle East and Africa is also expected to have moderate growth during the coming years.
Some of the key companies operative for 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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