Retort packaging: Key market research findings
- The elongated shelf life of retort packaging drives market growth
- Retort pouches account for majority share of the market
- Key vendors—Amcor, Berry Plastic, Coveris, Mondi, and Sonoco
Technavio’s market research analysts expect the global retort packaging market to grow at a CAGR of more than 12% between 2016 and 2020. The market is primarily driven by the long shelf life of retort packaging. Retort packaging maintains the product quality and increases the shelf life of the products. It has become a preferred concept for food packaging as it reduces the wastage of food and also preserves the flavor. During 2015, APAC accounted for almost 40% of the market share to dominate the global retort packaging market. The high demand for flexible packaging products, including retort pouches, trays, and cartons in the region is spurred by the growing population and the increase in consumption of ready-to-eat food and beverages. The introduction of ambient food products is expected to fuel growth in the retort packaging market in the APAC region during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the retort packaging segments based on type.
“The advancement of high-barrier packaging material is the latest trend in the market. High-barrier plastics are increasingly used by food and beverage packaging manufacturers as they are considered to be premium packaging materials. High-barrier flexible material contains resins that protect the products from exposure to moisture and oxygen. This helps in providing longer shelf life to food products,” says Sharan Raj, Lead Analyst, Transportation & Logistics, Technavio Research.
The pouches segment occupied over 40% of the market space in 2015 to become the dominant shareholder in the global retort packaging market. Retort pouches are becoming increasingly popular as they have flexible packaging, which is lightweight in nature and reduces transportation costs for companies. Furthermore, manufacturing these materials requires less energy compared to most other packaging materials. Retort pouches can be further classified into stand-up pouches, which are widely used as a drink pouch, and spout packaging.
The key vendors in the retort packaging market include Amcor, Berry Plastic, Coveris, Mondi, and Sonoco. Due to the presence of several well-diversified domestic and international vendors, the retort packaging market is highly fragmented and is witnessing stiff competition. The level of competition is likely to intensify on the basis of product differentiation, portfolio, and pricing. The international vendors are expected to grow inorganically by acquiring regional or local vendors.
A more detailed analysis is available in the Technavio report, Global Retort Packaging Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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