In 2021, the Asia Pacific retort pouch market was anticipated to be worth USD 1,511.6 million, with a CAGR of 8.2% expected during the forecast period.
Retort packaging is food packaging made from a lamination of flexible plastic and metal foils. It's used as an alternative to traditional industrial canning processes, and it enables for the sterile packing of a wide range of foods and beverages. Meals, Ready-to-Eat (MREs), which can be consumed cold, warmed by submerging in hot water, or heated using a flameless ration heater, were first deployed by the military in 1992. Field rations, space food, fish products, camping meals, fast noodles, and companies like Capri Sun and Tasty Bite all use retort packaging.
Due to the increased penetration of ready-to-eat meals in the region, the market is expected to reach USD 3080 million USD in 2030 at a CAGR of 8.2 %.
The market uses polypropylene, polyethylene, polyamide, PET, aluminium foil, and other materials. Polypropylene will be the fastest-growing sector in 2021, with a market value of USD 1,690.8 million. With an annual growth rate of 8.1%, it will reach a market value of USD 3,015.8 million in 2030. Extreme temperature and chemical resistance, as well as rising applications in automotive, packaging, healthcare, electronics, and building and construction, will all help to drive market growth. The segment's value will be enhanced by higher tensile strength, greater barrier, and lower cost. PET will have the second-largest market share in 2030, with a projected value of USD 1,453.8 million.
There are two types of packaging on the market: stand-up pouches and flat pouches. Stand-up pouches will have the largest market share in 2021, with a market value of USD 2,482.2 million. It will reach a value of USD 4,573.9 million in 2030, with a CAGR of 7.9% over the forecast period. The segment's growth will be aided by sustainability, lightweight, and increased printability and seal ability availability. Flat pouches are predicted to reach USD 3,693.4 million in 2030, thanks to their ease of use and availability in a variety of materials and seals.
There are three types of closures on the market: tear notch, zipper, and spout. The zipper segment will have the largest market share during the forecast period, with a market value of USD 1,828 million in 2021. It is expected to be worth USD 3,245.1 million in 2030. The CAGR is predicted to be 7.3% due to the ability to be accessed multiple times due to its utility and increased use of e-commerce and on-the-go applications. The tear-notch industry will account for the second-largest market share in 2030, with an estimated market value of USD 3,137.9 million.
Based on application, the market may be segmented into food, beverages, pet food, and other categories. Food will hold the largest market share over the forecast period, with a market value of USD 2,499.6 million in 2021. It is predicted to grow at a rate of 7.1% every year. According to estimations, the market will be worth USD 4,123.2 million in 2030. Factors like greater temperature resistance and the ability to be integrated as ready-to-eat packaging will help the segment flourish. In 2030, pet food will have the second-largest market share, valued at USD 1,701.3 million.
In 2021, the Asia Pacific retort pouch market was anticipated to be worth USD 1,511.6 million, with a CAGR of 8.2% expected during the forecast period. Due to the increased penetration of ready-to-eat meals in the region, the market is expected to reach USD 3,080 million USD in 2030 at a CAGR of 8.2 %. Convenience meals will emerge as the consumer population's habits change. Consumers' increasing disposable cash will pave the way for more alternative foods and beverages. These factors are projected to expand the market for retort pouches, as consumers' preference for them over traditional packaging grows. With a market value of USD 1,534.7 million in 2030, China is the largest contributor to the Asia-Pacific market volume. The Asia-Pacific retort packaging market is dominated by China. Increased need for retort packaging by food and drinks is expected to enhance demand in this region.
India has boundless demand, something many other countries lack. It doesn't matter what product or service you develop; if it meets a need, there will always be a demand for it, regardless of how many competitors enter the market. Retort pouch production is one of the many sectors blooming in that large country. With over 7.3 million employees, the food and beverage industry contribute for 3% of India's GDP and is the country's single largest employment and the demand is continuing to grow at a good pace and hence the demand for retort packaging is increasing is India and the trend is expected to remain same in near future.
Some of the major players in the Asian Pacific region for the Retort Pouch market are:
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends|