Retort Pouches Market - Players Resort to Product Development to Stay Ahead of Curve
A fast paced life worldwide on account of demanding jobs and long commutes has led to people opting for easy-peasy ready-to-eat food products. This trend is now fast catching up in highly populated developing nations of India and China, where average disposable income is rising. This in turn is providing a solid boost to the global retort pouch market.
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A noticeable trend in the market is the emergence and subsequent popularity of stand-up retort pouches which further drives the consumer interest in this market. “Companies are focusing on elevating their brand image through value added products which are also eye-catching. This is proving beneficial to the market as well,” explains the lead analyst of the TMR report.
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Depending upon the type of products, the global retort pouch market can be segmented into stand up pouches, spouted pouches, pillow pack, zipper pouches, and 3-side sealed pouches. Of them, the stand-up pouches segment leads the market with maximum share. By 2025, the segment will account for a 30% share in the market. This is because of their widespread use in processed foods.
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Geographically, the key segments of the global retort pouch market are North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. At present, Asia Pacific market is witnessing maximum growth on account of the high demand for properly packaged ready-to-eat meals and pet foods in the region. The region is expected to rise at a CAGR of 7.5% from 2017 to 2025.
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