Fish Box Market Size, Share, Growth, and Industry Analysis, By Type (EPS (Expanded Polystyrene), Polypropylene and others), By Application (Package, Transport and others), Regional Forecast To 2031

Updated On: 08 April 2024

Fish Box Market REPORT OVERVIEW

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The Fish Box market size is expected to grow USD 1727.6 Million in 2022 to USD 3179.72 Million by 2031 at a Compound Annual Growth (CAGR) of 7.0% from 2022 to 2031.

Fish suppliers all over the world face the difficult task of transporting fish safely and freshly. Because of their recyclable nature and low occupancy, the product highly recommended and preferred. Because of the globalisation of local cuisines, there is an increase in demand for specific types of fish, necessitating the need for an efficient packaging solution.

The product is a sustainable packaging solution for processed fish and raw fish processors. Because of the expansion of global trade, the use of innovative packaging formats and designs has become necessary. The environmentally friendly packaging solution extends the shelf life of perishable foods such as fish and fish products. EPS's excellent insulation properties have traditionally driven its demand in the food packaging industry. Growing environmental concerns, on the other hand, shifted consumer demand toward eco-friendly packaging solutions, resulting in lucrative growth opportunities for the fish box market. The demand for the product is fuelled further by the need for effective barrier solutions to fat, water, and moisture.

COVID-19 Impact: Supply Chains Disrupts The Market

The fish box market has seen a decrease in sales as a result of the Covid-19 pandemic. Materials and packaging solution manufacturers are facing financial losses as a result of supply chain disruptions and lockdown. This has an adverse effect on the market. To address the losses, the market's major players are focusing on regaining market positions and increasing production. Furthermore, companies are focusing more on online channel expansion to capitalise on post-pandemic market trends. These technological advancements will provide new opportunities for market participants following the pandemic. This is a significant factor in lowering market demand. Furthermore, the outbreak has a negative impact on the enterprise's business operations, which affects the market as a whole. This has had an effect on the industry.

LATEST TRENDS

"New Product Launch To Stimulate Market Expansion"

The introduction of an antimicrobial and virus-resistant packaging solution to provide consumers with safety. As a result of the coronavirus pandemic, the company discovered that six out of ten consumers thoroughly wash their hands after touching packaged groceries. The company collaborated with Touch guard to create a new line of bacteria and virus-resistant sustainable cardboard packaging. The introduction of antiviral and antibacterial packaging will provide greater protection to customers as well as workers throughout the supply chain. The rapidly increasing demand for fresh fish packaging solutions by customers is expected to fuel the growth of the market. Thus, the process of new product launch is a major trend that is creating opportunity for the industry to flourish. The market's overall expansion is primarily the result of these recent changes.

Fish Box Market SEGMENTATION

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• By Type

The market is divided into categories based on type, EPS (Expanded Polystyrene), Polypropylene and others.

• By Application

The market is divided into Package, Transport and other categories based on application.

DRIVING FACTORS

"Globalisation Of Local Cuisines That Boosts The Market"

The globalisation of local cuisines has also increased demand for a specific type of fish around the world, necessitating an efficient packaging solution. Despite growing awareness of vegan food, the fish-consuming population has grown significantly in recent years. To meet the needs of this specific consumer base, the product has emerged as a dependable packaging option. Consequently, during the predicted period, increased product dependence will support industry growth. As a result, the market will benefit from growth and increasing globalisation of local cuisines. It will help the consumer goods sector flourish and accelerate the Fish Box market growth.

"Increasing Demand For Sea Food To Support Market Expansion"

The increase in demand for seafood is the primary factor driving the growth of the market in the packaging industry. Because fish has a high protein content, the demand for fish and fish products is growing, and the corrugated fish box market is expected to gain the most market share due to the growing aquaculture industry and fish farming. Urbanization and a preference for healthy food are two other factors influencing the fish box market. Manufacturers of fish boxes are more concerned with quality, coating application, and lamination of the product. Together, these elements are encouraging market expansion, which is raising business revenues. As a result, the market will grow thanks to the increasing demand for sea food.

RESTRAINING FACTORS

"Infrastructure and Product Customization Will Prevent Market Expansion"

Transporting fish safely and freshly is a difficult task for fish suppliers. The product is highly preferred and recommended because it is recyclable and takes up less space. Other methods of fish packaging are likely to gain acceptance in the coming years. They have an expanded polystyrene (EPS) coating that is waterproof and moisture-proof. The use of expanded polystyrene (EPS), which contains 80% plastic, is a barrier to the growth of the product. Strict regulations against the use of plastic around the world may have a negative impact on the growth of the product market. This will be a significant impediment to market growth during the forecast period. This could be a significant issue limiting market growth. If this issue is resolved, the market will immediately begin to grow.

Fish Box Market REGIONAL INSIGHTS

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"Market is Globally Dominated by North America"

Since this area is the largest user of the product, the market for Fish Box in North America has profited from the region's expanding industrial development and several driving factors that have boosted the potential sectors. The increasing demand for products in the Package and transport industries is one of the important factors driving the Fish Box Market Share. Rapid urbanisation trends will further strengthen the market as a whole.

KEY INDUSTRY PLAYERS

"Leading Manufacturers to Boost Product Demand"

The analysis covers data on market participants and their positions within the industry. Through appropriate research, mergers, technological development, expanding production facilities, and collaboration, data is being gathered and made available. Information on manufacturers, regions, types, applications, sales channels, distributors, traders, dealers, research findings, and more is provided in the study on materials.

List of Market Players Profiled

• BASF (Germany)
• Smurfit Kappa (Ireland)
• Snyder Industries (Nebraska)
• Styropack (India)
• Sekisui Plastics (Japan)
• Tri-Core Plastics Containers (Canada)
• PPS (India)

REPORT COVERAGE

The study goes into great detail about market segmentation by type and application. The study examines a broad range of participants, including existing and potential market leaders. A considerable market expansion is anticipated as a result of several important factors. In order to provide market insights, the research additionally analyses elements that are probably to boost Fish Box Market share. The report makes forecasts for market expansion during the projected time period. The objective of the regional study is to explain why one region dominates the worldwide market. There are a lot of issues that have all been carefully considered that prevent the industry from growing. The research also contains a market strategic analysis. It includes thorough market information.