Global Industry Analysis Of Retort Packaging Market 2023
Retort packets are made with the help of flexible plastic combined with metal foils. This type of packaging is used to keep the food sterile over a long period of time. The market is being driven due to the increase in demand for convenience food globally. The retort packaging market is expected to witness growth during the forecast period.
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The global retort packaging industry is being driven by the rising demand for ready to eat food globally. With the changing lifestyle of families, everyone has started working and hence do not have the time to cook their food. In such a case, the families prefer to buy ready to cook food and store it for long term periods. The retort packaging is used in such cases to keep the food fresh and sterile. Furthermore, the retort packaging are lighter compared to metal cans and hence preferred over them. Moreover, this type of packaging is also flexible and takes less space and hence can be easily kept in the bags without the fear of destroying the food while travelling. In addition, the retort packets are also increasingly being used in baby foods packaging as their do not contain any harmful chemicals unlike plastic packaging. Moreover, the reducing cost of the raw materials used to make retort packet is also driving the market for growth. Furthermore, the retort packaging is also being applied in the case of animal food as they need to be preserved over longer period. In addition, the decreasing cost of the logistics is also reducing the cost of packaged food which is acting a driver for the market.
However, the market is facing restraints in the form of high cost of development and the rising concept of recycling. The manufacturing setup for retort packaging involves high capital expenditure with is restraining the market from growth. Furthermore, the rising environmental concerns are creating a need for recycling products which also includes the food packaging materials. This, in returning is reducing the repeated sale of new retort packets and hence acting as a restraint for the market.
The retort packaging is expected to witness several opportunities in future which are expected to the drive the market during the forecast period. The increasing technological innovation in the retort packaging technology is expected to drive the market in future. Furthermore, the increasing disposable income in the emerging economies such as India and China is expected to create a robust demand for this market.
The market can be segmented into three parts: by material, by type and by end use and by geography. In terms of material, the market can be categorized into polypropylene, polyester, aluminum foil and others. By type, the retort packaging can be classified into tray, pouches and cartons. By end use, the market can be segmented into healthcare, personal use, food, beverages and others.
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Some of the key players in this market include Berry Plastics Corporation, Mondi Group, Amcor Limited, Sonoco Products Company, Astrapak limited, Otsuka Holdings Co., Ltd, Bemis Company, Inc. and Coveris among others.
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