The Global Retort Packaging Market is projected to reach USD 41.14 Billion by 2020, with a CAGR of 6.7% from 2015 to 2020. Retort packaging is becoming popular in the frozen food and beverage market due to advantages such as the growing demand for compact and light weight packaging. This report estimates the market size of the global retort packaging market in terms of value (USD million). In this report, the market is broadly segmented based on type, material, end-use, and region. Market drivers, restraints, challenges, material, and regulations are discussed in detail. Market share, by participant, for the overall market is discussed in detail. The global retort packaging market has grown exponentially in the last few years and this trend is expected to continue. The Asia-pacific region accounted for the highest share of the total market value, followed by Europe and North America due to changing lifestyle, increasing disposable income, extensive growth in population, and growth in the packaged food industry. The retort packaging market is well established in developed countries. The market in developing economies, such as China and India are estimated to grow at a higher rate from 2015 to 2020.
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Scope Of Report: The demand for retort packaging is projected to grow at a CAGR of 6.7%, in terms of value, from 2015 to 2020. Growth in the flexible packaging market and rise in the demand for ready-made meals with extended shelf life are projected to be the major drivers of the retort packaging market. The growing demand for pet food and baby food products are is also one of the major drivers of the retort packaging market. Technological advancements as well as emergence of the Meal, Ready-to-Eat and lesser logistic cost are expected to have a positive impact on the growth of the retort packaging market.
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Key Player Analysis: The retort packaging market is dominated by large firms such as Amcor Limited (Australia), Berry Plastics Corporation (U.S.), Mondi Group (South Africa), Otsuka Holdings Company Limited (Japan), Sonoco (U.S.), Astrapak Limited (South Africa), Tredegar Corporation (U.S.), Coveris (U.S.), Bemis Company Inc. (U.S.), and Clondalkin Industries BV (Europe).
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Retort packaging market worth 41 14 billion usd by 2020