Retort Packaging Market Size

Retort Packaging Market Analysis

The Retort Packaging Market size is estimated at USD 5.45 billion in 2024, and is expected to reach USD 7.75 billion by 2029, growing at a CAGR of 7.29% during the forecast period (2024-2029).

• There is a rising demand for ready-to-eat meals as a result of a number of causes, including changing lifestyles, long workdays, and increased urbanization. Many customers are searching for quick and simple meal options that can be made in a matter of minutes without compromising on taste or quality. For consumers who are busy and want to save time and effort, ready meals provide an easy, simple answer. Retort packaging has expanded due to products in pouches and trays since many consumers choose packaging options for on-the-go consumption. Retorting purses and bags makeup about 60% of all food packaging worldwide, according to the Flexible Packaging Association.
• The US Census Bureau reports that from September 2022 to December 2022, there was a rise in the monthly retail sales of food and drink in the US. In September 2022, the sale was valued at USD 78,216 million. In December 2022, it was worth an astounding USD 88,432 million. In the coming years, it is anticipated that this tendency will continue. Retort packaging demand is therefore anticipated to expand during the projection period as a result of the market's progressive increase in retail sales demand.
• Consumers' initial hesitation of overpaying for pets is progressively giving way to trends like pet humanization and sensitization, which are clearly shown in the sharp increase in adoption rates. Retort pouches are becoming more and more popular all over the world as a result of the expanding use of flexible packaging techniques in a variety of sectors, including retail, pharmaceutical, food and beverage, and pet food.
• However, one key difficulty in the retort packaging industry is the high cost of manufacturing retort packaging materials. Retort packaging is strong and able to survive high temperatures since it is comprised of plastic, aluminium, and other materials. However, the price of these materials and the need for specialized machinery and production methods to create them drive up manufacturing prices. Adopting this technique may be challenging for small enterprises with tight resources due to the high cost of retort packing. Manufacturers are searching for ways to improve the efficiency and cost-effectiveness of the retort packaging process to meet cost issues.
• Due to COVID-19 supply chain issues and earlier lockdowns, finding paper boards has grown increasingly challenging on a global scale. In light of this, a hike in the price of paper packaging began in 2020 and is still in force today. Since then, these problems have gotten worse, and because of Russia's interference in the Ukrainian situation, the price of raw paper materials has increased to record levels. Economic sanctions imposed on Russia by a number of countries have caused a rise in commodity prices, interruptions in the supply chain, and effects on several global markets as a result of the war between Russia and Ukraine. The conflict between Russia and Ukraine has had a profound effect on people's life and means of subsistence, as well as greatly altered trade patterns. The price of plastic resins is increasing across the whole global supply chain as a result of rising energy costs and oil prices. However, the polymer industry was dominated by Russia's invasion of Ukraine in 2022. A major challenge for market vendors is the varying cost of raw materials on the domestic market as a result of fluctuations in the price of oil and gas.