Asia-Pacific & European Region Will Be Prime Revenue Generators for the Retort Packaging Market The demand for "Retort Packaging" is projected to grow at a CAGR of 6.7%, in terms of value, from 2015 to 2020. Growth in the flexible packaging market and rise in the demand for ready-made meals with extended shelf life are projected to be the major drivers of the retort packaging market.
The growing demand for pet food and baby food products are is also one of the major drivers of the retort packaging market. Technological advancements as well as emergence of the Meal, Ready-to-Eat and lesser logistic cost are expected to have a positive impact on the growth of the retort packaging market.The global retort packaging market is projected to be around USD 41.14 Billion by 2020, growing at a CAGR of 6.7% from 2015 to 2020.
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The Asia-pacific region accounted for the highest share of the total market value, followed by Europe and North America due to changing lifestyle, increasing disposable income, extensive growth in population, and growth in the packaged food industry. The retort packaging market is well established in developed countries. The market in developing economies, such as China and India are estimated to grow at a higher rate from 2015 to 2020.
Growth Drivers: •
Rising Population
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Increasing Income and Spending Capacity
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Increase in Demand for Packaging Solutions
Market Based on End-Use: •
Food
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Beverage
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Others
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Healthcare
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Personal care
Market Based on Region: •
North America
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Europe
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Asia-Pacific
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Rest of the World (RoW)
Market drivers, restraints, challenges, material, and regulations are discussed in detail. Market share, by participant, for the overall market is discussed in detail. The global retort packaging market has grown exponentially in the last few years and this trend is expected to continue.
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The retort packaging market is dominated by large firms such as 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).
Companies are adopting inorganic growth strategies, such as acquisitions to cope with the increasing demand for retort packaging in the key emerging markets. This strategy has aided companies to create a larger customer and partner base in the key markets. The leading retort packaging product manufacturers are focusing on emerging countries that are estimated to show potential for industrial development in the near future.
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