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The fish box market size is estimated to grow at a CAGR of 7.14% between 2023 and 2027. The market size is forecast to increase by USD 587.36 million. The growth of the market depends on several factors such as increasing consumption of fish and fish products, the technological advancements in the fish box market, and the increasing compliance with government regulations and standards.
This fish box market report extensively covers market segmentation by application (terminal and supermarket), material (expanded polystyrene, polypropylene, and others), and geography (APAC, Europe, North America, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
One of the key factors driving the fish box market growth is increasing compliance with government regulations and standards. Manufacturers in the fish box market have to adhere to several standards to ensure the safety, quality, and efficiency of fish processing equipment. One of the main standards which manufacturers have to adhere to includes NS-EN 15467: 2014 that state the safety and hygiene requirements for constructing fish heading and filleting machines.
Moreover, these complaints are in place to reduce the possibility of hazardous events during fish processing. Additionally, it is a standard requirement for fish processing equipment to have a Conformite Europeenne (CE) mark which represents the conformity of the product with European health, safety, and environmental protection standards and legislation. Furthermore, there is an increasing preference for fish processing equipment and associated supplies, such as seafood boxes that have high efficiency, high quality, and safety features. Hence, such factors are expected to drive market growth during the forecast period.
A key factor shaping the fish box market growth is the increasing demand for cold chain management. The main purpose of the seafood box is to transport and store fresh and frozen fish products. One of the main techniques which are used in the seafood industry to protect food is cold chain management. This technique is widely adopted in this industry as seafood is very prone to harmful bacteria that live on the skin, gills, and intestines of fish.
Additionally, some of the key reasons for food spoilage include oxidation and the size of the fish, as smaller fish have a faster spoilage rate due to the higher surface-by-volume ratio. As a result, there is an increasing demand for cold chain management during fish transportation which in turn will positively impact the market growth. Hence, such factors are expected to drive market growth during the forecast period.
Increasing regulations in the seafood industry is one of the key challenges hindering the fish box market growth. There are several stringent regulations associated with the seafood industry in many countries. One of the main reasons for this is the safety of products that are being transported to consumers. But, several manufacturers are finding it hard to comply with these changing regulations that restrict them from acting independently in the industry.
For instance, Food and Drug Administration (FDA) is one of the main authorities which enforces certain rules for manufacturers in the US. The regulations are mandatory as seafood businesses must recognize all the food safety hazards that may occur and should provide a system of control at each step to resolve hazards. Hence, such stringent rules and guidelines and growing government interference can hinder the global fish market growth during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Fish Box Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Allwin Roto Plast: The company offers fish boxes such as insulated palet containers 1000L, fish totes, Allwin 1000L insulated fish tub, Allwin 660 L insulated totes, and Allwin 460 L fish boxes.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The terminal segment is estimated to witness significant growth during the forecast period. The terminal segment can be referred to as a facility in a port that contains a platform for loading, unloading, and storing fish. The main advantage of this segment is that it facilitates extremely fast loading and unloading facilitating the way to clear the ships quickly. These terminals should have a temporary storage facility to store fish while waiting for the next stage of transportation after unloading. Several ports contain huge container terminals which are mainly designed to manage container ships and store fish. As a result, it is expected to fuel the growth of this segment.
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The terminal segment was the largest segment and was valued at USD 796.59 million in 2017. There is a significant increase in demand for seafood boxes across terminals due to their wide use for the effective storage of fish for further use. These fish terminals usually comprise rooms with flake ice machines to preserve the boxed fish. Once the fresh fish are stored in the fish boxes it is then transported either to the nearby fresh fish markets or sold through the rental market stalls within the complex. Hence, such factors are expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.
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APAC is estimated to contribute 43% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. One of the main reasons for the significant growth of the global fish box market in APAC is due to the growing demand for fish boxes in China, followed by the demand for frozen fish and other types of fish that include cured and canned fish. The main packaged and processed food market in the APAC region is India. As a result, there is a significant rise in demand for different fish and fish products in the country. Fish fillets, canned tuna, and fish pickles are some of the most commonly consumed fish products in India. Furthermore, increasing fish production and consumption are driving market growth in the region during the forecast period.
In 2020, during the COVID-19 pandemic, the growth of the global fish box market witnessed a significant slowdown as a large number due to the temporary closure of food processing businesses in the region. However, in 2021, the initiation of large-scale vaccination drives lifted the lockdown and travel restrictions, which led to the restarting of the operations of essential businesses such as food processing and food service businesses, leading to an increase in the growth rate of the regional fish box market. Such factors are expected to drive the market during the forecast period.
The fish box market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Fish Box Market Scope |
|
Report Coverage |
Details |
Page number |
160 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.14% |
Market growth 2023-2027 |
USD 587.36 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
6.7 |
Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
Performing market contribution |
APAC at 43% |
Key countries |
US, China, Indonesia, India, and Spain |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Allwin Roto Plast, BASF SE, Carry Cool Enterprise, Corex Plastics Pty Ltd., CRT Packaging (UK) Ltd., Eppor-Pack Sdn Bhd, Fletcher European Containers Ltd., Industrial Associates, Life Solutions, Ocean Roto Moulding Sdn. Bhd., PPS Midlands Ltd., Prakash Packaging, Sekisui Plastics Co. Ltd., Smurfit Kappa Group, Snyder Industries Inc., SOLIDUS SOLUTIONS Holding B.V., STYRO Insulations Mat. Ind. LLC, Tri-Core Plastics Containers Ltd., Craemer GmbH, and Styropack |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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