Worldwide Retort Pouch Market to Reach $7.51 Billion by 2025
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A report by Transparency Market Research, Albany, NY., USA, finds that the global retort pouch market, which was worth $4.29 billion in 2016, will likely attain a value of $7.51 billion by 2025-end by clocking a steady CAGR of 6.5%.
The global retort pouch market is characterized by intense competition due to the presence of numerous prominent participants trying to outshine one another. To thrive in the market, players are seen resorting to cost-reduction and product innovations to better cater to the need of customers.
Some of the prominent participants in the global retort pouch market are Sealed Air Corp., Huhtamaki Group, Amcor Ltd., Mondi Group, Bemis Co., Clifton Packaging Group, Foshan Nanhai LD Packaging Co., Sonoco Products Co., Constantia Flexibles International, ProAmpac, Alliedflex Technologies Ltd., Paharpur 3P, Flexi-Pack Ltd., Flair Flexible Packaging, Tong Yuan Packaging Co., Purity Flexipack Ltd., MST Packaging Co., and Avonflex.
Depending on the type of products, the global retort pouch market can be segmented into stand up pouches, spouted pouches, pillow pack, zipper pouches, and three-side sealed pouches. Of them, the stand-up pouches segment leads the market with maximum share. By 2025, the segment will account for a 30% share in the market. This is because of its widespread use in processed foods.
Geographically, the key segments of the global retort pouch market are North America, Latin America, Europe, Asia Pacific, and the Middle East, and Africa. Currently, the Asia Pacific market is witnessing maximum growth due to the high demand for properly packaged ready-to-eat meals and pet foods in the region. The region is expected to rise at a CAGR of 7.5% from 2017 to 2025.
At the forefront of driving demand in the global retort pouch market is the growing demand for convenient packaging solutions that have longer shelf life. Retort pouches offer just that by providing a strong barrier from air and light. Further, they have the ability to withstand high temperatures of up to 130o C.
A fast paced life worldwide because of demanding jobs and long commutes has led to people opting for "easy-peasy," ready-to-eat food products. This trend is now fast catching up in highly populated developing nations of India and China, where average disposable income is rising. This in turn is providing a solid boost to the global retort pouch market.
A noticeable trend in the market is the emergence and subsequent popularity of stand-up retort pouches which further drives the consumer interest in this market. "Companies are focusing on elevating their brand image through value added products which are also eye-catching. This is proving beneficial to the market as well," explains the lead analyst of the TMR report.
Factors posing a roadblock to the market, on the other hand, are recyclability and handling issues of retort pouches. The multi-layer materials used for the production of retort pouches take more time to biodegrade and thus harm the environment.
A report by Transparency Market Research, Albany, NY., USA, finds that the global retort pouch market, which was worth $4.29 billion in 2016, will likely attain a value of $7.51 billion by 2025-end by clocking a steady CAGR of 6.5%.
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