Retort Packaging Market Expected to Reach $28.5 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Retort Packaging Market," The retort packaging market size was valued at $14.6 billion in 2020, and is estimated to reach $28.5 billion by 2032, growing at a CAGR of 5.6% from 2023 to 2032.

Retort packaging is a type of heat sealing used to preserve food. It is often associated with canning, but also has many other uses, including storing liquids and powders. The process involves sealing the container with a heated lid to create an airtight seal. This ensures that no bacteria or contaminants can enter the container during storage or transport.

An increase in need for ecological products, a high rate of consumption and degradation of products, and significant growth of personal care products in developing countries drive the growth of the retort packaging market.In addition, retort packaging is a better alternative to traditional canning methods because cans and jars are heavy and bulky. They occupy a fair amount of shelf space, increasing the warehousing and transportation costs whereas, retort pouches are lightweight and occupy less space.

The sterilization of the packaged products is achieved by rapid heat transfer. The thin profile of the retort pouches reduces the process time for sterilization. These features of retort pouches can increase their adoption as alternatives for cans and jars for storage of food products. These factors are anticipated to boost the demand for retort pouches from the food and beverage industry, which is expected to boost the retort packaging market growth. Changing lifestyles due to busy schedules is resulting in increasing dependence on processed food.

This further is expected to fuel the growth of the retort packaging market. In addition, rapid growth in the food and beverage sector and increasing consumer preference toward on-the-go food & beverages is another factor that is expected to drive the retort packaging market. Furthermore, the increase in consumption of packaged food & beverage in the developed countries offers significant growth potential for the global market. In addition, the continuous inflow of new, innovative design offerings in the retort packaging market offers lucrative opportunities for market growth. However, uncertain prices of raw materials, and intense competition limit the market growth.

Asia-Pacific accounted for the highest share in the global retort packaging market share, in terms of revenue in 2020. Moreover, the market in LAMEA is anticipated to grow with the highest CAGR, during the forecast period, owing to a rise in awareness of sustainability.

Various manufacturers in the retort packaging market such as Amcor PLC, Mondi Group PLC, Sealed Air Corporation, and ProAmpac offer a wide variety of retort packaging food, beverages, and other industry verticals. For instance, in August 2023, Amcor launched its AmFiber Performance Paper packaging is now available to customers in Latin America seeking a high barrier, recyclable paper-based packaging solution. Launched first for the confectionery market with cold seal, it has been recently expanded to include heat seal sachets for dry culinary and beverage applications, such as instant coffee, drink powders, spices, seasonings, and dried soups.

Currently, the market is mainly impacted by the global economic downturn, which is a big restraining factor for the entire industrial and construction sectors. The current inflation is a result of the Ukraine-Russia conflict, as well as various initiatives are being performed in various countries globally to tackle the economic downturn during the coronavirus outbreak.

Furthermore, raw material and energy costs have become highly volatile, and many nations are experiencing high rates of inflation, such as countries in Europe, Latin America, and North America. However, India and China are performing relatively well. Moreover, the retort packaging market is expected to grow, owing to an increase in demand from various sectors such as food, beverage, pharmaceutical, and personal care.

Key Benefits For Stakeholders

• The report provides an extensive analysis of the current and emerging retort packaging market trends and dynamics. 
• In-depth retort packaging market analysis is conducted by constructing market estimations for the key market segments between 2020 and 2032.
• Extensive analysis of the retort packaging market outlook is conducted by following key product positioning and monitoring of the top competitors within the market framework.
• A comprehensive analysis of all regions is provided to determine the prevailing opportunities.
• The retort packaging market forecast analysis from 2022 to 2032 is included in the report.
• The key market players within the retort packaging market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the retort packaging industry.