With a current valuation of US$ 1382.5 million as of 2022, the plastic retort cans market is projected to witness substantial growth, anticipated to reach US$ 2126.5 million by the year 2032, fueled by a steady Compound Annual Growth Rate (CAGR) of 4.4% during the forecast period.
Europe’s enduring prominence in the plastic retort cans market, currently holding a substantial 32% market share, underscores its pivotal role in the industry. Forecasts suggest that the sales of plastic retort cans in the region are set to surge in the coming years. Several key factors contribute to this anticipated growth.
Firstly, the continuous expansion of the food industry in Europe fuels the demand for plastic retort cans. These containers are prized for their ability to preserve the freshness and quality of a wide range of food products, making them a favored choice among manufacturers and consumers.
Secondly, the pursuit of cost-cutting measures by companies further stimulates the adoption of plastic retort cans. Their cost-efficiency, durability, and lightweight nature make them an attractive packaging option for businesses looking to optimize their supply chains and reduce expenses.
However, one of the most compelling drivers for plastic retort cans in Europe is the region’s strong commitment to sustainable development. Plastic retort cans are seen as an effective means of achieving sustainability goals. Their recyclable and eco-friendly attributes align with the environmental consciousness of both companies and consumers. As sustainability becomes an integral part of business strategies and consumer preferences, the demand for plastic retort cans is expected to witness significant growth, solidifying Europe’s position as a major market for these containers.
In summary, Europe’s plastic retort can market is poised for growth driven by the expanding food industry, cost-saving initiatives, and the strong emphasis on sustainability, making plastic retort cans a critical component in the region’s pursuit of environmentally responsible packaging solutions.
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Who are Some of the Key Players in the Plastic Retort Cans Market?
Some of the key players in the plastic retort cans market are:
- Kortec,
- Sonoco,
- Klear Can,
- SOPAKCO,
- Amcor,
- Bemis,
- Milacron Co-Injection Systems,
- Bemis,
- Winpack,
- RPC.
These companies have been working towards replacing tin cans with plastic retort cans. Moreover, the companies are also investing in market research to understand the preference of various customers, and to prepare the product based on the preferences given.
- In July 2022, Sonoco announced that it would be expanding its post-consumer recovery and recycling opportunities for paper cups in bales of mixed paper to be used as a raw material at its Hartsville, S.C., paperboard mill to produce new paperboard.
- In April 2022, Amcor announced the addition of more sustainable high shield laminates to its pharmaceutical packaging portfolio.
Current Market Dynamics pertaining to Plastic Retort Cans Market
- Sustainability and Eco-friendliness: There is a growing emphasis on sustainable packaging solutions. As a result, plastic retort cans are being developed with a focus on eco-friendliness, recyclability, and reducing the environmental footprint. This shift is driven by consumer awareness and regulatory changes.
- Food Industry Growth: The food industry is a primary consumer of plastic retort cans. As consumer preferences for convenient, long-lasting, and ready-to-eat food products increase, so does the demand for these cans. The food industry’s expansion is a significant driver of market growth.
- Cost Efficiency: Manufacturers are adopting plastic retort cans for their cost efficiency in terms of production, transportation, and storage. Their lightweight nature reduces shipping costs, and the extended shelf life they offer minimizes food waste, leading to cost savings.
- Innovation and Customization: Market players are focusing on innovation and customization to meet specific customer needs. This includes variations in shapes, sizes, and features of plastic retort cans, allowing for diverse applications beyond the food industry.
- Regulatory Compliance: Strict regulations regarding food safety and packaging materials have a significant impact on the plastic retort cans market. Manufacturers must adhere to these regulations, which often require ongoing product development and testing.
- Competitive Landscape: The market is competitive with various manufacturers and suppliers vying for market share. This competition can drive innovation and lead to a wider range of choices for consumers.
- Global Supply Chain Disruptions: Global events and supply chain disruptions, such as those seen during the COVID-19 pandemic, have highlighted the importance of robust supply chains and inventory management in the plastic retort cans market.
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Key Segments Profiled in the Plastic Retort Cans Market Survey
By Type:
- Food Plastic Retort Cans
- Beverage Plastic Retort Cans
- Healthcare Plastic Retort Cans
- Pharmaceutical Plastic Retort Cans
By Industry:
- Food
- Medical
- Others
About Future Market Insights, Inc.
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