Global Retort Packaging Market Overview
The retort packaging are such packages which are laminated with multiple layers to resist high temperature and pressure from external sources and keep the internal material intact. The retort packaging is light weight, cost effective and stable to external factors. They are flexible and can be laminated to showcase product branding over the packaging. These packages go through thermal processing to preserve the food and beverages and are reheated while consumption as a ready to eat food. The food products such as seafood, fish, meat, poultry, rice, beans, soups and many more are preserved in these retort packaging so as to ensure food safety and hygiene. The ability of these retort packaging to serve a variety of services in food and beverage sector has increased its demand for food and beverage exports owing to its food preservation capability.
The shapes are of retort packaging are kitchen-storage friendly and saves space while travelling. The easy handling, opening and using techniques of the retort packaging has facilitated the growth of this in the market. The barrier to oxygen and moisture by the retort packaging preserves from contamination of the food and provides better shelf life.
Market Size and Forecast
The global retort packaging market is observing robust growth on account of increasing number of ready to eat foods, thereby driving the demand of retort packaging in the market. Additionally, advances in food industry in the past few years and growing explorations in packaging market are projected to drive retort packaging market along with growing population and rise in disposable income.
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As per IBEF the share of percentage in APEDA exports in 2016 are recorded as 38.21% in cereals, 28.4% in food products, 7.8% in fresh food and vegetables, 6.7% in processed fruits and vegetables, 04.3% in floriculture and other processed food by 17.9%. The export of the processed food products are enhancing the demand for usage of retort packaging which is expected to mark a CAGR of 7.6% over the forecast period. The retort packaging market is expected to reach a value of USD 55.2 billion at the end of the forecast period.
Rising Demand for Ready to Eat Foods
Rapid economic development and rising disposable income is driving the demand for ready to eat food items which facilitates the growth of retort packaging market. Additionally, the lack of time by numerous working women and families are widening the market demand for ready to eat food items which in turn generating demand for the retort packaging in the market and is expected to escalate the growth during the forecast period. Moreover, the hygienic and preservative quality of these packaging is driving the market demand for retort packaging.
Food Grade Packaging
The R&D and various technological developments have developed food grade retort packaging to have direct contact with the food and maintain the integrity of the food. The retort packaging has various layers of protection in the packaging which can protect the food and other items inside it. The food grade quality of the retort packaging have generated several applications in food and beverage sector and are rising the demand in food and beverage market which is expected to drive the demand for retort packaging market during the forecast period.
The usage of PET and other plastic grades in food and beverage is avoided or banned in various economies by stringent government laws which is expected to dampen the growth of market in the coming future.
Our-in depth analysis of the global retort packaging market includes the following segments:
By Product Type
By Material Type
By Application Type
On the basis of regional analysis, global retort packaging market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
Retort packaging is highly used by food and beverage sector in Asia Pacific which is expected to dominate the market growth of retort packaging among all other regions. The rise in disposable income by the economies of Asia Pacific such as China, India and others are expected to propel of the market. Additionally, the rise in GDP is expected to rise the investment in retort packaging on account of rising per capita income coupled with growing population.
North America is expected to observe a substantial growth in the market on account of high demand for ready to eat food products in this region which is anticipated to raise the market of retort packaging. Additionally, Europe and other regions are expected to generate competitive growth in the market during the forecast period.
Global retort packaging market is further classified on the basis of region as follows:
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