Newark, March 14, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 4.2 Billion Retort Packaging market will reach USD 7.7 Billion by 2033. Rising growth in the pharmaceutical industry and rising growth in online food ordering may fuel the growth of the Retort Packaging Market. Additionally, the pandemic has contributed to a notable increase in online food delivery services. For example, as reported by the National Library of Medicine, global leaders in online food delivery (OFD) such as Uber Eats, alongside Indian companies like Zomato and Swiggy, have fueled a 25%–30% annual expansion in the OFD industry in 2020.
Get Sample PDF Brochure: https://www.thebrainyinsights.com/enquiry/sample-request/14099
Retort Packaging Market Size by Type (Pouches, Cartons, Trays), End-Users (Food, Beverages), Material (Polypropylene, Polyester, Aluminum Foil, Paperboard, Nylon, and Food-Grade Cast Polypropylene), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2024 to 2033
North America emerged as the largest global Retort Packaging market, accounting for 57% of the total market. Owing to increasingly busy work life, lack of work-life balance, increasing disposable income in the hands of the common man. Whereas Asia Pacific exhibits the highest growth rate in the market owing to rising demand for convenient products, and rising demand of ready-to-eat foods in the region
The Pouch segment has dominated the market accounting for 54% of the total market.
Pouch has dominated the market accounting for 54% of the total market. Owing to rising demand from the food & beverages industry, increasing durability of the same and higher need for longer shelf life. Further, it is expected to be the fastest-growing segment in the market, owing to rapidly growing competition from the market players in the global.
The Food segment accounted for the largest share of the market share of 57.3% in 2023.
The food segment has dominated the Retort Packaging Market. It has accounted for 57.3% of the Retort Packaging Market. Owing to rising demand for ready-to-eat meals, pet food, and baby food in the market. Further, increasing partnership agreements, collaborations, and mergers and acquisitions in the market are some of the major factors that contribute to the growth of the Retort Packaging Market.
For more information in the analysis of this report, speak to research analyst: https://www.thebrainyinsights.com/report/retort-packaging-market-14099
Latest Development:
• In April 2023, Huhtamäki Oyj introduced three unique solutions in mono-material flexible packaging. These solutions are specifically designed with recyclability in focus, aiming to minimize resource consumption during production. The primary goal of this launch is to offer users environmentally friendly and flexible packaging alternatives in Paper, PE (Polyethylene), and PP (Polypropylene) Retort formats.
• In June 2022, Toyo Ink Group broadened its range of laminating adhesives, introducing a product featuring food-safe formulations without epoxy silanes and organic tin compounds. The updated portfolio now encompasses both the solvent-based TOMOFLEXTM and the solvent-free ECOADTM families of laminating adhesives. These formulations are well-suited for various applications in multilayer flexible packaging, such as dry food, liquid pouches, and high-performance retorts.
• In April 2022, ProAmpac unveiled ProActive PCR® Retort pouches, with the primary aim of offering packaging solutions for both pet and human food. The key focus of this product launch is to provide pouches that meet FDA and EU standards, ensuring their approval for food contact in retort applications.
Interested to Procure The Data? Inquire here at: https://www.thebrainyinsights.com/enquiry/buying-inquiry/14099
Market Dynamics
Drivers: Rapidly growing demand for convenience food
The growing inclination towards convenient food consumption is mainly propelled by a blend of factors, encompassing evolving lifestyles, demanding work schedules, and swift urbanization. In contemporary times, a significant segment of consumers is actively seeking rapid and straightforward meal choices that not only maintain taste and quality but also require minimal preparation time. Furthermore, convenience foods serve as a practical and uncomplicated solution for individuals leading busy lives, providing them with the means to economize on time and effort during meal preparation.
Restraint: The rising cost of retort packaging
The escalating expense associated with retort packaging constitutes a significant obstacle to the growth of the Retort Packaging Market. The utilization of diverse materials such as plastic, aluminum, and others in retort packaging ensures enhanced durability. Nonetheless, the adoption of these materials comes at a high cost, further compounded by the requirement for specialized equipment, contributing to the elevated pricing of retort packaging in the market.
Opportunity: Rising growth in online food ordering
Additionally, the pandemic has contributed to a notable increase in online food delivery services. For example, as reported by the National Library of Medicine, global leaders in online food delivery (OFD) such as Uber Eats, alongside Indian companies like Zomato and Swiggy, have fueled a 25%–30% annual expansion in the OFD industry in 2020
Challenge: Rapidly growing environmental concerns
The escalating environmental concerns are emerging as a significant factor in the retort packaging market. With a heightened awareness and consciousness surrounding environmental issues, stakeholders in the retort packaging industry are encountering increasing pressure to embrace sustainable practices. This involves initiatives such as the development of eco-friendly materials, minimizing packaging waste, and the broader implementation of environmentally responsible solutions within the retort packaging sector.
Some of the major players operating in the Retort Packaging market are:
• Amcor PLC
• Constantia Flexibles
• Clifton Packaging Group Limited
• Clondalkin Industries BV
• Coveris Holdings SA
• Flair Flexible Packaging Corporation
• Mondi PLC
• Tetra Pak International SA
• Proampac LLC
• Sonoco Product Company
Key Segments cover in the market:
By Type:
• Pouches
• Cartons
• Trays
By End-User:
• Food
• Beverages
By Material:
• Polypropylene
• Polyester
• Aluminum Foil
• Paperboard
• Nylon
• Food-grade cast Polypropylene
Direct purchase a single user copy of the report: https://www.thebrainyinsights.com/buy-now/14099/single
About the report:
The global Immunofluorescence Assay market is analysed based on value (USD trillion). All the segments have been analysed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes Porter's five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
Contact Us
Avinash D
Head of Business Development
Phone: +1-315-215-1633
Email: sales@thebrainyinsights.com
Web: http://www.thebrainyinsights.com
