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The global retort packaging market is experiencing growth due to several key factors. The rise of online food ordering and the expansion of the packaged food industry are driving this trend. However, challenges such as fluctuations in raw material prices and governmental regulations against plastic packaging are hindering the market's growth.
Over the forecast period, the global retort packaging market is anticipated to grow at a Compound Annual Growth Rate (CAGR) of 6.5%. This growth is significant and reflects the increasing demand for retort packaging solutions in various industries.
To better understand the market dynamics, it's essential to look at the segmentation of the global retort packaging market. The segmentation is based on packaging type, material, and application.
The market is categorized into different packaging types, including pouches, trays, cartons, and others. Among these, pouches hold the largest market share, accounting for 52.86% in 2018 with a market value of USD 16,873.29 million. The pouches segment is projected to grow at a CAGR of 6.9% during the forecast period.
The materials used in retort packaging play a crucial role. The market is segmented into paper & paperboard, aluminum foil, polypropylene, polyester, and others. In 2018, paper & paperboard held the largest market share (28.04%) with a value of USD 8,951.21 million. This segment is expected to grow at a CAGR of 5.9% during the forecast period.
The applications of retort packaging are diverse, with a focus on food, beverages, and others. In 2018, the food segment dominated the market, holding a 61.81% market share with a value of USD 19,731.69 million. The food segment is projected to grow at a CAGR of 6.7% during the forecast period.
Geographically, Europe led the market in 2018, accounting for 36.36% of the market share, followed by Asia-Pacific at 33.12%. This trend is expected to continue during the forecast period. By 2025, Asia-Pacific is anticipated to reach a market value of USD 18,789.5 million with an impressive CAGR of 8.47%.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Growth Rate | (2022-2030 |
Retort Packaging Market Highlights:
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