PUNE, India, August 20, 2015 /PRNewswire/ --
The report "Retort Packaging Market by type (Pouches, Tray, and Cartons), by Material (Polyester, Polypropylene, Aluminum foil, and others), by End Use (Food, Beverage, and Others) - Global Forecast to 2020", published by MarketsandMarkets, The global Retort Packaging Market is projected to reach $41.14 Billion by 2020, with a CAGR of 6.7% from 2015 to 2020.
Browse 115 Tables and 51 Figures spread through 215 Pages and in-depth TOC on "Retort Packaging Market"
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The market report defines and segments the retort packaging market, along with the analyses and projections of the market size. It also identifies the driving and restraining factors for the retort packaging market with the analysis of trends and opportunities
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End-Use of retort packaging market includes food, beverage, healthcare, and personal care. Growth in pre-made food and pet food and the demand for quality and convenient food are the key drivers of the retort packaging market.
The global retort packaging market is projected to reach $41.14 Billion by 2020, with a CAGR of 6.7% from 2015 to 2020. Increasing disposable incomes of people in developing countries, increasing urbanization, and changing preferences of people towards convenient packaging drive the growth of the retort packaging market. The major restraining factor for the growth of this market is the high capital investment involved in sealing technologies. Defects due to poor sealing technology is the biggest challenge faced by players in the market. Asia-Pacific is estimated to grow the fastest in the forecast period, due to the increasing demand of convenience food and the growing health and personal care industry.
The retort packaging market is buyer-oriented. It has shown substantial growth due to the remarkable advantages to the customers and the processors of the retort packaging industry. Leading players in this market are Amcor Limited (Australia), Berry Plastics Corporation (U.S.), Mondi Group (South Africa), Otsuka Holdings Company Limited (Japan), Sonoco (U.S.), Astrapak Limited (South Africa), Tredegar Corporation (U.S.), Coveris (U.S.), Bemis Company Inc. (U.S.), and Clondalkin Industries BV (Europe). In this report, the global retort packaging market is segmented into type, material, end-use, and region. Major players in the market are developing new techniques to achieve sustainability. One of the major developments observed in the retort packaging market is acquisitions & mergers. The requirements for retort packaging are continuously changing, making it essential for manufacturers to continually invest in R&D activities and come up with innovative solutions. Companies are adopting inorganic growth strategies, such as acquisitions to cope with the increasing demand for retort packaging in the key emerging markets. These strategies have aided companies to create a large customer and partner base in the most attractive markets.
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