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Retort Machine Market Report 2024: Size, Share, Growth, Trends, Forecast, Competitive Analysis to 2033
Retort Machine Market Report
According to The Business Research Company's, The retort machine market size has grown strongly in recent years. It will grow from $1.63 billion in 2023 to $1.79 billion in 2024 at a compound annual growth rate (CAGR) of 9.2%. The growth in the historic period can be attributed to increasing demand for shelf-stable products, rise in ready-to-eat food consumption, expanding packaged food industry, stringent food safety regulations, rising consumer awareness of food quality.
The retort machine market size is expected to see strong growth in the next few years. It will grow to $2.44 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to growth in packaged beverages, customization and flexibility in processing, emergence of innovative packaging materials, rise of e-commerce in food retail, increasing adoption in pharmaceuticals. Major trends in the forecast period include advancements in retort technology, advancements in sterilization technologies, focus on energy-efficient retort systems, integration of smart technologies, expanding applications in diverse industries.
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Market Drivers and Trends:
The rising occurrence of food diseases is expected to propel the growth of the retort machine market going forward. Food diseases refer to illnesses brought on by eating or drinking foods contaminated with microorganisms. Retort machines sterilize and pasteurize packaged foods and drinks, extending their shelf life and ensuring their safety and quality by inactivating or killing the disease-causing microbes. For instance, in June 2023, according to the Centers for Disease Control and Prevention (CDC), a US-based Department of Health and Human Services, infections from significant foodborne pathogens were estimated to be the cause of 9.4 million illnesses, 56,000 hospital admissions, and 1,350 fatalities each year in the USA. Furthermore, in May 2022, according to the World Health Organization, a Switzerland-based intergovernmental organization, 420,000 people worldwide die, and an estimated 600 million get sick from eating contaminated food every year, thereby losing 33 million years of healthy life. Therefore, the rising occurrence of food diseases is driving the growth of the retort machine market.
Major companies operating in the retort machine market are increasing their focus on introducing retort control software to maximize their revenues in the market. Retort control software is a technological platform that manages and controls the retort process. It involves processing food under high pressure and heat in a sealed container to sterilize and preserve it. For instance, in April 2023, Surdry North America, a US-based retort manufacturing company, launched and announced the approval of SteriNet21 by the Food and Drug Administration (FDA), a US-based federal agency. SteriNet21 is software designed to improve food quality control and securely record all food thermal processing data. It also enables the operator to gain remote access to all data from the sterilization process, including heat, temperature, and pressure inside the chambers, and to confirm how recipes are obtained and handled in retorts. This new platform, built on an industry-leading automation software platform, can duplicate or replace traditional paper chart recorders. It generates thorough documentation in digital form, reducing the possibility that the crucial retort processing data would be compromised.
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• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
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Major Key Players of the Market:
Otsuka Holdings Co. Ltd., STERIS Corporation, Getinge AB, PHC Corporation, JBT Corporation, Steritech, CFT S.p.A., Fedegari Autoclavi SpA, BMT Medical Technology s.r.o., LTE Scientific Ltd., Steriflow SAS, Systec GmbH, Bondtech Corporation, Allpax Products LLC, Cosmed Group Inc., Astell Scientific Ltd., Priorclave Ltd., Nexgen Drying Systems Pvt. Ltd., Benchmark Scientific Inc., Labec, Eschmann Technologies Ltd., Shandong Dingtaisheng Food Industry Equipment Co. Ltd., Lagarde Autoclaves, Surdry SL, Sturdy Industries Limited, Tuttnauer Ltd., Consolidated Machine Corporation, InnovaSter Ltd., Rodwell Autoclave Co. Ltd., Sumpot Machinery Co. Ltd.
retort machine Market 2024 Key Insights:
• The retort machine market is expected to grow to$2.44 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%.
• Rising Occurrences Of Food Diseases
• Increasing Focus On Introducing Retort Control Software To Maximize Revenues
• Asia-Pacific was the largest region in the retort machine market in 2023, and is expected to be the fastest-growing region in the forecast period.
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