Impact of COVID-19 on the Global Retort Packaging Market
The spread of the COVID-19 pandemic has forced governments across the globe to take precautionary measures to contain the spread of the virus. The lockdowns being imposed in most countries have shut down the manufacturing industries. Moreover, a significant decrease in the supply of raw materials due to the prohibition of logistic services is hampering the market growth. The delays caused due to the outbreak of COVID-19 in the production of retort packaging products and the disinclination of consumers towards retort packaging pouches in developed countries are hindering the growth of the retort packaging market. The outbreak of COVID-19 and the lockdowns imposed thereafter have significantly disrupted the supply chains. The Asia-Pacific region is projected to lead the global market due to its rising population and demand for ready-to-eat consumables.
Retort packaging is a type of food packaging made from heat-resistant, laminated plastic and metal foil. This type of packaging has features such as hanger holes and zipper reclose while being easy to open and reliable. However, the demand for retort packaging is expected to increase during the forecast period due to their capability of providing a longer shelf-life to packaged products. Additionally, the packaging is heated at an extremely high temperature, which makes the product commercially sterile. The main aim of using retort packaging is to destroy microorganism by heating, protect food from chemical or enzymatic reactants, and to keep the food ready for consumption. The demand for packed food, pet food, and baby food is increasing due to changing lifestyles. Retort packaging helps in making seasonal foods available all year round. Hence the demand for retort packaging from many end-use industries such as food & beverage and Pharmaceuticals is growing.
FOREIGN DIRECT INVESTMENT in TOP COUNTRIES, 2016–2019 (USD MILLION)