Market Size of Retort Pouch Packaging Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.61 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Retort Pouch Packaging Market Analysis
The retort pouch packaging market was valued at USD 3.06 billion in 2020, and is projected to be worth USD 4.21 billion by 2026, is expected to grow at a CAGR of 5.61% during the forecast period from 2021 to 2026. Moreover, the increasing demand for packed food is influencing the growth of this market.
- Additionally, a higher number of consumers have shown a preference for on-the-go packaging solutions, which have led to the growth of retort packaging through offerings in pouches and trays. According to the Flexible Packaging Association, retort pouches and bags contributes 60% of the total food packaging all over the world.
- Packaged food such as sauces, dairy products, bakery, and soup items are often packed in retort packaging to ensure longer shelf life. However, the ready to eat is also creating enormous opportunities for the retort market. As per with the Organic Trade Association data, the retail sales of organic food in the United States is USD 50 billion.
- During the recent outbreak of COVID-19 also impacts on the demand for retort pouch packaging across the world. According to Food Navigator USA, the consumption of food away from home will decrease by 20% due to the COVID-19 situation. Hence the increasing demand for food from home will support the growth of this market.
- The ongoing characteristics such as sustainability, transparency, food safety, and reduction in food waste are influencing the demand for retort pouch packaging in meat, poultry, and seafood products. By the data of the Statistics Bureau of Japan, the retort packaging market is expected to reach USD 1.76 billion by 2023.
- Specific innovations in the packaging type are further driving the market. For instance, TCL Packaging, in close collaboration with B&G Products, developed a stand-up, oven-friendly pouch. As per the company's expectation, it will offer a specialist application for pre-made pouches that are suitable for microwave and conventional oven cooking up to 220°C.
