Retort Packaging Market Outlook and Opportunities in Grooming Regions with Forecast 2030

Pune, India, August 2020, MRFR Press Release/- Market Research Future has published a Cooked Research Report on the Global Retort Packaging Market.

Market Overview

Global Retort Packaging Market is expected to be valued at USD 28.6 billion by 2030, with a 5.21% CAGR during the forecast period.

The report covers segmentation and drivers for a better glimpse of the market in the coming years. Retort packaging solutions have registered significant growth in adoption rates over the past few years in developing countries, such as China, India, and Brazil, owing to the growth of online food ordering and growth of the packaged food industry. The growing demand for food and the presence of franchise food organizations backed with the growing retail industry has led to the growth of online ordering and takeaway in urban and sub-urban areas. The food chains and franchise continue to gain momentum owing to the social and economic developments.

Competitive Analysis

Global Retort Packaging Market is characterized by a large number of players that operate at global and regional levels. The players adopt strategies such as expansions, mergers & acquisitions, and product development to improve their position in the global market. High competition, rapid changes in technology, and availability of integrated solutions by industry participants are the key factors that restrict the market growth. Vendors and key market players compete in terms of cost, product quality, and reliability. It is vital for the players to offer cost-effective and high-quality products and services to succeed in the competitive market environment.

The growth of market vendors depends on the growth of the industry, market environment, and regulations. Thus, they should continue to consider enhancing their offerings and expanding their presence. Amcor PLC (Australia), Mondi (Austria), Sonoco Products Company (US), Sealed Air Corporation (US), and Winpak Ltd (Canada) held nearly 41.00% of the market share in 2018. PROAMPAC (US), Constantia Flexibles (US), Clondalkin Group (Netherlands), Coveris Group (Austria), and Clifton Packaging Group Limited (UK) are some of the other key players operating in the global retort packaging market. The players mentioned above are dominating the market owing to their diversified product portfolios, vast industry experience, and wide geographic reach.

Segmental Analysis

Global Retort Packaging Market is driven by factors such as the growth of online food ordering and the growth of the packaged food industry. However, fluctuation in raw material prices and government norms against plastic packaging act as restraints for the market growth during the forecast period. The global retort packaging market is projected to grow at 6.5% CAGR during the forecast period.

The global market for retort packaging has been segmented based on packaging type, material, and application. Based on the packaging type, the global market has been segmented into pouches, trays, cartons, and others. In 2018, the pouches segment accounted for the larger market share of 52.86%, with a market value of USD 16,873.29 million. It is projected to grow at 6.9% CAGR during the forecast period.

Based on material, the global market has been segmented into paper & paperboard, aluminum foil, polypropylene, polyester, and others. In 2018, the paper & paperboard segment accounted for the largest market share of 28.04%, with a market value of USD 8,951.21million. It is projected to grow at 5.9% CAGR during the forecast period.

Based on the application, the global retort packaging market has been segmented into food, beverages, and others. In 2018, the food segment accounted for the largest market share of 61.81%with a market value of USD 19,731.69 million. It is projected to grow at 6.7% CAGR during the forecast period.

Regional Analysis

Geographic analysis of the Global Retort Packaging Market spans across North America, Europe, Asia-Pacific, South America, and the Middle East & Africa.

Europe covers the UK, Germany, France, Spain, and the rest of Europe. The region holds the largest share of the retort packaging market. It is home to several key companies, such as Mondi Group, Clondalkin Group, which supports the growth of the market for retort packaging. Europe accounted for a 36.86% share of the retort packaging market in 2018, owing to factors such as increased investment by the companies in the packaging of food and beverage and pharmaceutical products.

The retort packaging market in Asia-Pacific is expected to witness steady growth, owing to the high demand for fast-moving consumer goods (FMCG). FDI (Foreign Direct Instance) in retail has further widened the scope for packaging, which attracts foreign players to set up their facilities in the region. The increasing demand backs the growth of the retort packaging market in the region for packaged food and beverage items in countries such as China and India, primarily due to the increasing per capita disposable income.

Get Full Information About This Report: Retort Packaging Market Share