Global Retort Packaging Market 2015 to grow at a CAGR of 6.5% by 2022
Retort Packaging Market Outlook – Global Trends, Forecast, and Opportunity Assessment (2014-2022)
The Global Retort Packaging market is estimated at $29.3 billion in 2014 and is expected to reach $48.5 billion by 2022 growing at a CAGR of 6.5% during the forecast period 2014 to 2022. Raise in disposable income, decrease in cost, improvement in pet food products and varying preferences of people towards packaging drives the market growth. High capital investment in technologies is the major restraining factor of the market.
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An imperfection due to unfortunate sealing technology is the key challenge faced by the market. Demand for retort packaging in Europe is expected to boost at least one time faster as adjacent to growth of the global flexible packaging market in the future. Growing urbanization and change in preferences towards more convenient packaging are also playing a significant role.
Asia-Pacific is expected to grow at the highest CAGR during the forecast period, due to the rising demand of instant food and the growing healthiness and personal care industry. The retort packaging market is well-established in urban economies and is growing at a quick pace in developing economies such as China and India.
The key players in the market include, Silgan Holdings, Inc., E.I. Du Pont De Nemours and Co., Sealed Air Corporation, Coveris Holdings S.A, DS Smith PLC, Amcor Limited, Mondi PLC, Rocktenn Company, International Paper Company and Bemis Company Inc.
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