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Global Retort Packaging Market: Innovation in Design to Be Key Strategy of Market Players, says TMR

Posted on Aug 04, 2017

The global retort packaging market is extremely fragmented and the top ten companies in the market accounted collectively for 30% of the market in the year 2015, Transparency Market Research (TMR) states in its new report. Thus, no one company has very high shares in the market. Players within this market are striving to achieve product differentiation by means of innovation in design and product features. This is helping them succeed in this competitive environment. Players such as Mondi Group have developed retort stand-up pouches which has a high definition rotogravure printing feature. The package thus has enhanced texture and graphics and has helped the Mondi Group to achieve success in the global retort packaging market.

According to Transparency Market Research, the global retort packaging market will be worth US$24,706 mn by 2024. On the basis of product, the market will be led by the retort pouches segment. The segment was leading even in the past and accounted for 45.8% of the market in 2016. The high demand for flexibility and increased need for heat resistant plastics for processing at temperature of around 127° C in time of manufacturing are some of the factors boosting the growth of the retort packaging segment market. On the basis of geography, Asia Pacific accounted for 34% of the market by revenue in the year 2016. The Asia Pacific retort packaging market is estimated to be one of the most lucrative regional markets in the future, stated a TMR analyst. Between 2016 and 2024 the Asia Pacific retort packaging market is expected to witness a CAGR of 7.8%. The European and North American markets for retort packaging are expected to be key markets apart from Asia Pacific.

retort packaging market

Cost Effectiveness Continues to Drive Market

The increased demand for retort packaging by consumers as well as by manufacturers is one of the key factors boosting the growth of the market. The growing popularity of retort packaging can be attributed to its eco friendly nature on account of the use of AlOx-coated polyethylene terephthalate (PET), which is an easily available packaging material. AlOx-coated polyethylene terephthalate can also be used in microwaves and thus, their demand is high. This form of packaging meets the sterilization requirement of packaging at lower temperature and also uses less than 5% of the packaging material as used by aluminum trays and cans. Thus, retort packaging is cost effective for packaging manufacturers and also increases profitability among manufacturers, leading to a win win situation for both the parties. Thus, the market will continue to witness a high growth within the forecast period.

Eco-friendly Packaging to Gain Traction

Some of the factors inhibiting the growth of the global retort packaging market is the increasing concerns of waste generated by packaging products. There are various harmful effects of non-biodegradable waste which is generated from packaging products. This is anticipated to hamper the growth of the market. The demand for eco friendly packaging is gaining traction and has become a popular trend across the globe. This is especially true for developed countries and the emerging economies are fast catching up with this trend.

This review of the market is based on a recent report published by Transparency Market Research, titled “Retort Packaging Market (Product Type - Pouches, Trays, and Cartons; Material Type - Cast Polypropylene, Nylon, Polyester, Polyethylene, Aluminum foil, and Paper and Paperboard, Form Type - Flexible, Rigid, and Semi-rigid; Application - Foods, Beverages, and Pharmaceuticals) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024.

For the study, the global retort packaging market has been segmented as follows:

By Product Type

  • Pouches
    • Stand- up Pouches
    • Back-seal Quad
    • Spouted Pouches
    • Gusseted  Pouches
  • Trays
  • Cartons
  • Others (Cans, Bottles)

By Material

  • Cast Polypropylene
  • Nylon (Bi-Oriented Polyamide)
  • Polyester (PET)
  • Polyethylene (PE)
  • Aluminum Foil
  • Paper & Paperboard
  • Others (PVDC, PVC)

By Form

  • Flexible
  • Rigid
  • Semi-rigid

By Application

  • Food
    • Meals Ready-to-Eat (MRE)
    • Sea Food
    • Pet Food
    • Baby Food
    • Soups & Sauces
    • Others (Meat stew)
  • Beverages
  • Pharmaceuticals

By Region

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa

About Us

Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.

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