Published on : Apr 23, 2018
Albany, New York, April 23, 2018: Growing manufacturer’s investments in the better packaging for food and beverage products has given a boost to the market growth of retort packaging. Market Research Hub (MRH) has freshly announced the addition of study titled “Retort Packaging Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2024” to its wide repository which offers a comprehensive analysis of the current market trends and future estimations in the market. Moreover, the report covers market dynamics including drivers, restraints opportunities, and trends expected to influence the global retort packaging market growth during the said period.
With retort packaging, food products are wrapped in special carrier film which can withstand a thermal processing temperature of around 130 degree Celsius, and in turn neutralizes all unwanted micro-organisms. In the present time, the retort packaging market is feeding off the flourishing food and beverage industry. As per the study key findings, the demand in the global retort packaging market will proliferate at notable CAGR of 7.45% during the forecast period of 2017 to 2024. Moreover, in terms of revenue, it has been estimated that the opportunities in the global retort packaging market will translate into US$24,706.0 mn by the end of 2024, considerably up from its evaluated worth of US$14,945.0 mn in the year 2017.
Key Factors Propelling Market Growth
Globally, the demand for packaged ready-to-eat meals is on the rise among urban populations and manufacturers are resorting to these lightweight and flexible modes of packaging that also go a long way in extending the shelf-life of the products. Remarkable benefits of retort packaging over conventional packaging, such as lightweight, convenience, aesthetic appeal, and hygiene are the primary factors that are driving the adoption.
Another fact observed by the research experts is that research and development activities that are currently proceeding to devise eco-friendly packaging material are anticipated to pave a way to novel opportunities in this market in the near future.
Moreover, the research finds market opportunity on the basis of product type, material, application, form and region. In terms of geography, Asia Pacific, Europe, and North America have been identified as the three regions with maximum potential, respectively.
Above all, company profiles of the market participants are deliberated in the final chapters of the report. At present, key players active in the global retort packaging market include Ampac Holdings LLC., Amcor limited, Bemis Company, Inc., Winpak Limited Company, Sealed Air, Coveris Holdings S.A, Clondalkin Group, Mondi Group, Sonoco Products Company, Berry Plastic Group, Inc., and Flair Flexible Packaging Corporation.
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