Retort Packaging Market Research Report and Forecast up to 2024 Retort Packaging Market | Page 2

aluminum trays and cans, while also meeting the sterilization requirement of the
package at lower temperature. This leads to cost cutting for packaging
manufacturers and enhances the overall profitability for the companies
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Flourishing Food and Beverages Industry to Ensure Dominance of Asia
Pacific Market
Asia Pacific is expected to be the most promising region in terms of incremental
opportunities and is expected to dominate the global retort packaging market, with
a share of 34.0% in the overall revenues of the global market in 2016. The region
will be followed by Europe and North America. Europe and North America are highly
regulated and likely to create a substantial demand of retort packaging worth nearly
US$7,500 mn in 2016, approximately 7.0% higher than the previous year. The
markets for retort packaging in Latin America and Middle East are estimated to
collectively represent slightly over 9% of global retort packaging market value in
2016.
Asia Pacific is estimated to represent the global retort packaging market with CAGR
of over 7.8% between 2016 and 2024. The market in Asia Pacific is expected to gain
immense growth opportunities from the flourishing food and beverages industry.
High demand for ready-to-eat food products coupled with increasing disposable
incomes in countries like India and China is expected to further propel the growth of
the retort packaging market in the region over the forecast period. Furthermore,
high investments in new manufacturing facilities and food institutes in Asia Pacific is
also expected to fuel demand for retort packaging over the forecast period. The
trend of increasing consumption of convenience foods is expected to also fuel the
demand retort packaging in other regional markets over the forecast period.
Some of the key participants in the global retort packaging market are Amcor
limited, Bemis Company, Inc., Sealed Air, Coveris Holdings S.A, Mondi Group,
Sonoco Products Company, Berry Plastic Group, Inc., Ampac Holdings LLC., Winpak
Limited Company, Clondalkin Group, and Flair Flexible Packaging Corporation.
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