PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1462850
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1462850
Global Retort Packaging Market is valued approximately at USD 3.87 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 5.20% over the forecast period 2023-2030. Retort packaging is a type of packaging that involves the use of heat to sterilize food and then seal it in airtight containers. The process of retort packaging is called retort sterilization, and it is commonly used for preserving and packaging a variety of food products. The goal of retort packaging is to extend the shelf life of the packaged food by eliminating harmful microorganisms, enzymes, and other spoilage agents. Moreover, growing demand for lightweight and compact packaging materials, rising demand for convenient and ready-to-eat meals, increasing focus on sustainability and growing convenience food industry that is anticipated to create the lucrative demand for the market during forecast period 2023-2030.
Additionally, the growing demand for convenience foods plays a crucial role in supporting the growth of the retort packaging market. Consumers are increasingly seeking convenient and time-saving food options. Ready-to-eat meals, which can be quickly prepared or consumed without extensive cooking, are in high demand. Retort packaging allows for the preservation of such meals, ensuring that they remain safe and flavorful over an extended period without the need for refrigeration. Thus, the growing convenience foods demand is anticipated to support the market growth. According to Statista, in 2019 the convenience food market is valued USD 8.24 billion; in 2022, the number reached USD 20.28 billion and it is anticipated to reach USD 39.81 billion by 2025. Moreover, the growing eE-commerce sectors, and globalization of food trade is anticipated to create the lucrative opportunity for the market growth. However, the higher capital investments, and uncertain prices of raw materials stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Retort Packaging Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 with largest market share owing to the growing demand for convenient, ready-to-eat meals, technological advancements in packaging materials, increasing growing awareness and concerns about food safety, and presence of key market players. Whereas, the Asia Pacific is expected to grow with the fastest growth rate during the forecast period, owing to factors such as the rise of e-commerce, growing emphasis on sustainable packaging solutions, increasing demand for processed and ready-to-eat foods, rising urbanization and changing lifestyles that anticipated to support the region market growth.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of tables and figures and dummy in nature, final lists may vary in the final deliverable