Transparency Market Research delivers key insights for the retort packaging market in its published report, which include global industry analysis, size, share, growth, trends, and forecast for 2021–2031. In terms of revenue, the global retort packaging market is projected to grow at a CAGR of 5.2% during the forecast period, owing to several factors about which, TMR offers detailed insights and forecasts in the retort packaging market report.
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In retort packaging, the product is filled first and the package is then sealed and heated to high temperature for sterilization treatment, which helps in removing bacteria/microorganism that result in extended shelf life of a product. Retort packaging includes pouches, trays, cartons, and cans. The demand for retort packaging is anticipated to propel during the forecast period due to the rising consumption of ready-to-eat meals and other healthy packaged food items among customers. Retort packaging offers a number of benefits such as prolonged product shelf life and cost-effectiveness, thus eliminating the need for refrigeration, thereby improving product quality, ease in opening, and offering high-barrier, which make it popular among the food & beverage industry globally. Moreover, the rising preference for lightweight and eco-friendly packaging solutions in the food & beverage industry augment the sales of retort packaging, as retort packaging manufactures are launching innovative, environment-friendly, and cost-effective retort packaging solutions. Overall, on the back of all the abovementioned factors, the demand for retort packaging is expected to boost during the foreseeable period.
Effective Packaging Solutions Offering Extended Shelf Life to Food Products
Retort packaging is an effective solution that helps in food preservation and extends the shelf life of food products. The packaging materials used in making retort packaging include polypropylene and polyester, which have a mechanical strength to withstand temperature up to 135ºC, and have oxygen barrier properties with a shelf life of more than 12 months under ambient conditions. Less number of packaging materials is used in retort pouches compared to conventional cans, as a result of which, retort pouches sterilizes at a lower temperature in relatively less time. As compared to conventional packaging, containers such as jars and cans, retort packaging is more compact and cost-effective. Advantages of retort packaging also include less storage space, ease of preparation, and technical feasibility.
Moreover, manufacturers began to innovate new technologies in order to capitalize on opportunities in the packaging industry. Various advantages associated with retort packaging are factors that are anticipated to drive the global retort packaging market during the forecast period.
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Key Players Focusing on Adding New Products with Some Innovation in Existing Product Portfolio
Key players operating in the retort packaging market are focusing on expanding their product portfolio by launching innovative products. In addition, retort packaging manufactures are aiming to reach untapped markets through acquisitions to cater to the increasing demand for retort packaging in the food & beverage industry.
For instance:
- In June 2021, Mondi Plc., along with Hazeleger Kaas launched recyclable cheese packaging for the Dutch market
- In May 2021, Amcor plc. announced the launch of the first designed packaging for powdered chocolate in Latin America, which can be recycled
- In September 2019, Huhtamaki Oyj expanded its flexible packaging segment in South Africa by acquiring Everest Flexibles (Pty) Limited
- In September 2019, Sonoco Products Company announced the introduction of recyclable polyethylene flexible packaging to its sustainable packaging portfolio to meet the needs of retail products
- In April 2019, Amcor plc. had launched high-barrier, unique, and recyclable flexible packaging used for food products, personal care products, and others
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Retort Packaging Market: Competition Landscape
The global market for retort packaging is estimated to witness competition among various well-established and key players operating in the global market. Key players are the expert & well-established players engaged in the manufacturing of retort packaging solutions having a global presence. Furthermore, small & medium-sized players are trying to enter the retort packaging market due to the rising demand for retort packaging in the food & beverage industry. The increasing number of players in the report packaging market will generate revenue, along with catering to the demand for retort packaging.
Key players operating in the global retort packaging market are Amcor plc., Huhtamaki Oyj, Mondi Group, Winpak Ltd., Coveris Holdings S.A., Sealed Air Corporation, Proampac LLC, Sonoco Products Company, Tredegar Corporation, ALLIEDFLEX Technologies, Inc., Avonflex, Printpack, Inc., DNP America, LLC., Clifton Packaging Group Ltd., Paharpur 3P, etc.
Based on segmental revenue and market share, the tier structure for the key players has been designed. Tier 1 players include Amcor plc., Sealed Air Corp., Winpak Ltd., Sonoco Products Company, Proampac LLC, Tredegar Corporation, and Coveris Holdings S.A., whereas, Tier 2 players include Huhtamäki Oyj, Printpack, Inc, Constantia Flexibles Group GmbH, Flair Flexible Packaging Corporation, etc. The abovementioned companies account for around 20-30% share of the global retort packaging market.
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