Market Analysis
The retort packaging market is predicted to touch USD 49.9 billion at a 6.49% CAGR by 2025, as per the MRFR analysis. Retort packaging is a type of food packaging that is manufactured with plastic pouches or flexible retort pouches. Such pouches and cans are used for packing ready meals and other forms of perishable foods which are subject to heat, hence rendering it commercially sterile. Trays, cartons, pouches, & others are the different types of packaging, which is made of different materials such as polyester, polypropylene, aluminium foil, paper and paperboard, and others. It has wide applications in food & beverages as well as others.
Request a Free Sample @https://www.marketresearchfuture.com/sample_request/2217
An array of factors is fuelling the market share. As per the latest MRFR analysis, these factors comprise of the growing demand for ready-to-eat or ready meals, hectic lifestyle, growing single households, increasing spending power, growing middle class, changing consumer lifestyle and preference, the constant need for pouches as they are portable, lightweight, and convenient in comparison to rigid packaging products, ease of packaging technology and adaptability, growing urbanization, increasing disposable income, and emerging economies.
On the flip side, the impact of the on-going COVID-19 outbreak, supply chain disruptions, and fluctuations in raw material prices are factors that may deter the global retort packaging market growth over the forecast period.
Competitive Landscape
Prominent contenders in the retort packaging market entail Clondalkin Group (Netherlands), Sonoco Products Company (US), Clifton Packaging Group Limited (UK), PROAMPAC (US), Coveris Group (Austria), Sealed Air Corporation (US), Amcor PLC (Australia), Constantia Flexibles (US), Winpak Ltd (Canada), Mondi (Austria), and others.
Market Segmentation
The retort packaging market has been bifurcated based on material, application, and packaging. The market by packaging type has been bifurcated into trays, cartons, pouches, & others. Among these, the pouches packaging type will spearhead the market during the forecast period. It is likely to touch USD 16,873.29 million at a 6.9% CAGR by 2025.
The market by the material has been bifurcated into polyester, polypropylene, aluminium foil, paper and paperboard, and others. Among others, the paper and paperboard segment will spearhead the market over the forecast period. It is likely to touch USD 8,951.21 million at a 5.9% CAGR by 2025.
The market by application has been bifurcated into food & beverages as well as others. Among these, the food and beverages application will stay at the forefront in the market during the forecast period. It is likely to touch USD 19,731.60 million at a 6.7% CAGR by 2025.
Regional Analysis
Geographically, the retort packaging market has been bifurcated into these four regions- Europe, the APAC region, North America, and the MEA. Among these, Europe will command the largest share in the market during the forecast period for the presence of several eminent manufacturers, coupled with the increased investments made by companies in the packaging of pharmaceutical products and food and beverage.
In the Asia Pacific region, the market is predicted to have favorable growth over the forecast period for the increasing demand in packaged food and beverage goods in India and China, rising per capita income, FDI in retail has widened the scope of packaging, and burgeoning demand for fast-moving consumer goods (FMCG).
In North America, the market is predicted to have admirable growth over the forecast period for the developing retail food industry, burgeoning need for packaged food products, growing investments in healthcare for flexible & retort packaging solutions, the region being a hub to the largest retail store as well as customers that are highly informed.
In the Middle East and Africa, the market will have steady growth during the forecast period.
Access Report Details @ https://www.marketresearchfuture.com/reports/retort-packaging-market-2217
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Contact
Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar, Pune 411028 Maharashtra, India +1 646 845 9312 Email:sales@marketresearchfuture.com
Comments