Retort Pouches Market Sees Considerable Application in Developing Countries
The global retort pouch market is characterized by intense competition owing to the presence of numerous prominent participants trying to outshine one another. In order to thrive in the market, keen 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 Corporation, Huhtamaki Group, Amcor Ltd., Mondi Group, Bemis Company, Inc., Clifton Packaging Group Ltd., Foshan Nanhai LD Packaging Co., Ltd., Sonoco Products Company, Constantia Flexibles International GmbH, ProAmpac, Alliedflex Technologies Ltd., Paharpur 3P, Flexi-Pack Ltd., Flair Flexible Packaging, Tong Yuan Packaging Co. Ltd., Purity Flexipack Ltd., MST Packaging Co., Ltd., and Avonflex.
A report by Transparency Market Research finds that the global retort pouch market, which was worth US$4.29 bn in 2016 will likely attain a value of US$7.51 bn by 2025-end by clocking a steady CAGR of 6.5%.
Depending upon the type of products, the global retort pouch market can be segmented into stand up pouches, spouted pouches, pillow pack, zipper pouches, and 3-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 their widespread use in processed foods.
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Geographically, the key segments of the global retort pouch market are North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. At present, Asia Pacific market is witnessing maximum growth on account of 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 130-degree centigrade.