Retort Pouch Market to experience hike in growth by 2024
sarsota, FL -- (SBWIRE) -- 10/11/2017 -- Retort pouches are used for the packaging of heat-treated food products. They are heat resistant in nature as they are laminated from inside with multiple layers of plastic films and metal foil so that they can resist intense pressure as well as high temperature. They act as a barrier to moisture and oxygen and help in the preservation of food. They are used as a substitute to metal cans as they provide the food with better shelf life. Retort pouches can be attached with add-on features such as spouts and fitments, zippers, release valves, pour spouts, and slider closures.
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The global retort pouch market is segmented into its material type, product type, end-use, and geography. On the basis of material type, the market is divided into polypropylene, polyester, food-grade cast polypropylene, nylon, polyethylene terephthalate, and others. Based on the product type, the market is segregated into zipper pouches, spouted pouches, stand-up pouches, and others. On the basis of end-use, the market is classified into personal care, pharmaceuticals, and food and beverages. Based on geography, the market is diversified into Latin America, North America, Europe, Asia-Pacific, and the Middle East and Africa.
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Both the developed and the emerging economies are showing a great demand for packed food products. This has provided a momentum to the retort pouch market growth. Other factors that are driving the market growth include rapid urbanization, growth in the working-class population, and an increase in the disposable income. A retort pouch is heat resistant and helps to preserve the food for a longer duration. This has influenced the market demand positively. Other than preserving the food, retort pouch is also used for advertisement purposes which favor the demand for retort pouches. However, changing prices of the raw materials creates uncertainty among the manufacturers which may act as a restraint to the market growth.
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Asia Pacific is the dominating region in the retort pouch market. Growth can be especially seen in the emerging economies of India and China owing to the immense opportunities for retort pouches in the food and beverage industry. Factors such as rising disposable income and high demand for ready-to-eat food are further boosting the market growth in Asia Pacific region. Substantial market demand is expected from the North American and European markets in the coming years. Countries such as the U.S. and Canada from North America and Germany, Italy, the U.K, France, and Spain from Europe are expected to be the major contributors to the market growth. As retort pouch are heat resistant, their demand is anticipated to escalate in the Middle East and African region. Latin America will also contribute a fair share to the market growth.
Some of the major market players in the retort pouch market include Mondi Group, Ampac Holdings LLC, Sealed Air, Amcor Limited, Winpak Limited Company, Bemis Company Inc., Sonoco Products Company, Coveris Holdings S.A, Berry Plastic Group Inc., and Flair Flexible Packaging Corporation.