Market Trends of Retort Pouch Packaging Industry
This section covers the major market trends shaping the Retort Pouch Packaging Market according to our research experts:
Food Industry will Hold the Substantial Market Share
- The food industry is one of the primary end-user for this market. For food products, retort pouch packaging is primarily used for ready to eat meals, meat (beef, pork, chicken), seafood (tuna, shrimp, salmon, mackerel, mussels, salmon, etc.) sauces, pasta dishes, rice, baby food, fruits and vegetables, organic and frozen food. This unique form of packaging for food helps in enhancing flexibility and preserving it from contaminants, which are likely to boost the growth of this market.
- As per the data of the US Department of Agriculture, the volume of cold storage of frozen red meat amounted to 1101.5 million pounds in FY2019. In comparison, foods like frozen potatoes and frozen poultry amounted to 1155.93 million pounds and 1,212.92 million pounds, respectively.
- Retort pouches are considered to be one of the most convenient packaging solutions for dairy and yogurt for out -of -home consumption. Companies and dairies are, hence, developing and using packaged pouches with creative lidding to gain consumers’ attraction. For instance, Amcor launched AmLite Ultra Recyclable retorted pouch, which is more sustainable. its high barrier laminate can package a range of food and pharmaceutical products that can be recycled easily.
- Moreover, the increasing consumption of baked food is also influencing the growth of this market. According to the United States Department of Agriculture, the consumption of baked goods in India reached 3.07 million metric tons in FY2019. Additionally, the demand for online packed food is also driving the growth of this market. It also enables the availability of such foods off the shelf. These pouches also can be vacuum packed, which can be used for products, like smoked seafood.
- With the onset of COVID-19 pandemic, retail demand for food soared. According to OECD, sales of frozen and packaged foods in particular increased dramatically: at their peak in the second half of March, weekly sales of frozen foods were 63% higher than the year before in France, while sales of packaged foods were 56% higher y-o-y in Germany.
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Asia Pacific is one of the Fastest Growing Region for this Market
- Asia-Pacific region is expected to be one of the prominent markets for retort pouches owing to the increasing demand for greater convenience in food, beverage, packaging solutions. Moreover, China’s rapid economic development and an increase in the standard of living have created a significant demand for Retort Pouch packaging.
- Moreover, according to the Ministry of Industry and Information Technology, In 2019, the food industry in China generated operating revenue of about CNY 8.12 trillion. With increasing urbanization, changes in lifestyles, and growing annual disposable income, demand for processed food is expected to grow, which would lead to higher demand for Retort Pouch packaging.
- India has witnessed sustainable packaging growth owing to the increase of packaged food consumption and awareness, and demand for quality products. As per the data of the Packaging Industry Association of India (PIAI), the sector is growing at 22 -25% per annum.
- Moreover, the FMCG sector in South Korea is expected to further bolster the demand for flexible solutions, such as retort pouches by ensuring wide adoption in the food & beverage sector. Moreover, the demand for lighter forms of packaging and greater ease of use are expected to drive the growth of retort pouches, which, in turn, may become the asset for the overall packaging market in the country.
- Additionally, The Indian food processing industry accounted for 32% of the country’s total food market, one of the largest industries in India, ranked fifth in terms of production, consumption, export, and expected growth. Furthermore, the outbreak COVID-19 lockdown has affected the working in the jute mills, thereby disrupting the production of jute bags. Hence it is supporting the growth of retort pouches within this country.
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