Retort Packaging Market likely to reach beyond USD 4.5 Billion by 2025 at a CAGR of 5.18%


Posted April 8, 2021 by armaan007

Retort Packaging Market expected to be valued at USD 4.5 Billion by 2025, at a CAGR of 5.18%, during 2020–2025

 
The report "Retort Packaging Market by Type (Pouches, Trays, and Cartons), Material (PET, Polypropylene, Aluminum foil, PA, PE, and Paperboard), End-use (Food and Beverages), and Region - Global Forecast to 2025", is projected to grow from USD 3.5 billion in 2020 to USD 4.5 billion by 2025, at a CAGR of 5.1% from 2020 to 2025. The market is projected to grow following the surge in demand for more convenient food packaging from consumers which aligns with their day to day life.

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Browse 100 market data Tables and 60 Figures spread through 190 Pages and in-depth TOC on "Retort Packaging Market”

In terms of value and volume, the pouches segment is projected to lead the retort packaging market from 2020 to 2025.

Based on type, the pouches segment is projected to be the largest market for retort packaging. The dominant market position of the pouches can be attributed to its durability. The growth of this segment is attributed to its increasing demand from food and beverage industry for the packing of their products. Properties of retort pouches such as lightweight, less spacing consuming more shelf life makes it a suitable alternative to tin cans.

In terms of value and volume, the food end-use segment of the retorts packaging market is projected to be the largest market.

Food includes ready to eat meals, meat poultry & seafood, pet food, baby food, soups & sauces, and others. It is a significant contributor to the growth of retort packaging. Retort packaging has revolutionized the food industry. It has contributed to the development of food supply channels that have helped in making seasonal foods available all year.  Due to changing demographics, consumers are looking for more convenient ways to eat their food without much of a hassle.

https://www.prnewswire.com/news-releases/retort-packaging-market-worth-4-5-billion-by-2025--exclusive-report-by-marketsandmarkets-301033266.html

In terms of both value as well as volume, the APAC region is estimated to account for the highest share in the global retort packaging market during the forecast period.

In terms of value, the APAC region is projected to lead the global market from 2020 to 2025 due to the strong demand from countries such as China, Australia, South Korea, and Japan. The region has more half of the world’s population and there has been an increase in the demand for convenient products due to hectic work life and increasing per capita income. Consumers in the region are looking for ready meal products that can be consumed without much work; hence the demand for retort packages is growing in the region.

Key Market Players

Key players, such as Amcor PLC (Australia), Berry Global Inc. (US), Sonoco (US), Coveris (US) Mondi Group (South Africa), and Huhtamaki Oyj (Finland) have adopted these strategies to strengthen their product portfolios, expand their market presence, and enhance their growth prospects in the retort packaging market.

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