Retort packaging market to reach USD 6.45-billions by 2032

According to a report by Towards Packaging, the retort packaging market is projected to surge from USD 3.87-billion in 2022 to an anticipated USD 6.45-billion by 2032 at 5.2% of CAGR from 2023 to 2032.

21 Dec 2023 | By Disha Chakraborty

One of the primary drivers propelling the retort packaging market is the escalating demand for convenience among consumers. Where time is a precious commodity, the packaging industry offers solutions that align with the fast-paced lifestyles of modern consumers.

Retort packaging's ability to enhance the shelf life of various products serves as a game-changer for industries across the board. From ready-to-eat meals to pharmaceuticals, the extended shelf life provided by retort packaging not only ensures product freshness but also minimises waste, contributing to sustainable practices.

As businesses search for new, high-growth markets and industries, the number of fast-moving consumer goods brands that have gone global is increasing. Convenient and portable packaging solutions are becoming more and more in demand, and the retort packaging industry stands to gain immense. This has increased demand for more convenient, smaller-size forms and spurred expansion in the convenience store retailing industry.

Beyond the realm of consumables, the healthcare industry is increasingly recognising the benefits of retort packaging. Pharmaceuticals, medical devices, and other healthcare products benefit from the protective properties of retort packaging, ensuring their integrity throughout the supply chain.

Retort pouch demand is predicted to be particularly high in the Asia-Pacific region due to the growing need for more convenient food and beverage packaging options. Furthermore, a sizable demand for retort pouch packaging has been generated by China's quick economic growth and rising standard of living.

The Packaging Industry Association of India (PIAI) reports an annual growth rate of 22 to 25%, emphasising the significant strides made by the packaging sector. Notably, the food processing industry, a major player in India's economic landscape, accounted for 32% of the nation's total food market, ranking fifth in terms of production, consumption, exports, and anticipated growth.

Retort pouch food was still used for domestic purposes, despite an increasing trend towards commercial use for use in commerce. Pouch for Retort Food keeps gaining traction with Asia-pacific customers because of the abundance of goods, ease of use, and decreased quantity of extended shelf life and kitchen waste. Japan evolved and developed retort food packaging.

Important Revelations

  • The retort packaging market is projected to experience a compound annual growth rate CAGR of 5.2%.
  • Impact of Asia-Pacific's dominance in retort pouch demand on regional packaging trends is growing at 52%.
  • Japan's progress in curry retort food packaging production volume of retort pouch food reaches 1,38,000 tonnes in 2022.
  • The transformative period in retort pouch development.
  • Global growth in retort packaging fueled by technological innovations
     
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Which is the sustainable packaging product among MSMEs that is most popular?

Results

Which is the sustainable packaging product among MSMEs that is most popular?

Bagasse and biodegradable boxes

 

33.33%

Corrugated boxes

 

33.33%

Paper bags

 

33.33%

Recyclable plastic (bubble wraps, bio-plastic)

 

0%

Total Votes : 3

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