Aug 16, 2020 2:21 PM ET
iCrowd Newswire – Aug 16, 2020
Retort Packaging Market:
WiseGuyReports.com adds “Global Retort Packaging Market Research Report 2020 Analysis and Forecast 2027” reports to its database.
Global Retort Packaging Market is valued approximately USD 3.33 Billion in 2019 and is anticipated to grow with a healthy growth rate of more than 5.18% over the forecast period 2020-2027. Retort packaging is a kind of food packaging which is designed from heat resistance laminated plastics and metal foil. Its fundamental application is to restore food & beverage items to offer longer shelf- life to packaged products. Also, retort packaging is designed with an aim to destroy microorganism of food by heating it and protecting food from chemical or enzymatic reactants with purpose of keeping food ready for consumption. The global pandemic of COVID-19 leads to the slowdown in production and supply of raw materials required in manufacturing retort packaging which is expected to decline the growth of market in recent years. Whereas, growing need for safe, secure and ready to eat food in global crises of corona virus will accelerates the demand of retort packaging over the forecast years. In addition, growing disposable income in the developing & developed economies and improvement in standard of living of people is the factor stimulating the demand from people for safe, secure and standardized food which is propelling the growth of market over the forecast years. For instance: According to the government of India 2019, the per capita income in 2018 was stood at USD 134.18 and expected to increase with 10% till 2019 that is USD 147.54. Also, according to the United States Census Bureau, the median per capita income of US in 2017 was USD 31,982 and increase to USD 33,706 till 2018. However, the presence of stringent government regulations in approval of usage of retort packaging is hampering the market growth.
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The regional analysis of global Retort Packaging Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the due to the rapid growth in demand for ready to eat foods in the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rising disposable income and standard of living would create lucrative growth prospects for the Retort Packaging Market across Asia-Pacific region.
Major market player included in this report are:
Berry Plastics Corporation
Clondalkin Industries BV.
Sealed Sir Corporation
Flair Flexible Packaging Corporation
Clifton Packaging Company
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Material offerings of key players. The detailed segments and sub-segment of the market are explained below:
Polyethylene terephthalate (PET)
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Retort Packaging Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
For further information on this report, visit – https://www.wiseguyreports.com/reports/5633402-global-retort-packaging-market-size-study-with-covid
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