Fish Box Market to grow by USD 587.36 million from 2022 to 2027 | Increasing compliance with government regulations and standards boosts the market - Technavio

NEW YORK, Oct. 5, 2023 /PRNewswire/ -- The fish box market size is expected to grow by USD 587.36 million between 2022 and 2027. However, the growth momentum of the market will be progressing at a CAGR of 7.14% during the forecast period. The market is segmented by application (terminal and supermarket), material (expanded polystyrene, polypropylene, and others), and geography (APAC, Europe, North America, Middle East and Africa, and South America). Increasing compliance with government regulations and standards drives market growth. It is essential for manufacturers in the fish box market to comply with several standards to ensure the safety, quality, and efficiency of fish processing equipment. NS-EN 15467: 2014 is one of the main standards enforced by the authorities which ensures the safety and hygiene requirements for constructing fish heading and filleting machines. Moreover, these compliances are essential to minimize the possibility of hazardous events during fish processing. Furthermore, it has become an important 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. In addition, there is a growing 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 positively impacting the market, which in turn will drive the market growth during the forecast period.

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Key Highlights:

• The report recognizes the following as some of the key players in the fish box market: 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
• The Fish Box Market is fragmented in nature.
• Market to observe 6.7% YOY growth in 2023.

Market Dynamics:

Trend

• The increase in demand for cold chain management drives the market growth.
• The seafood box helps to transport and store fresh and frozen fish products. 
• Cold chain management is an essential technique that is used in the seafood industry to protect food. There is an increasing adoption of cold chain management in this industry as seafood is very prone to harmful bacteria that live on the skin, gills, and intestines of fish.
•  The size of the fish, as smaller fish have a faster spoilage rate due to the higher surface-by-volume ratio is one of the main reasons for the food spoilage.
• Hence, such factors will fuel the adoption of cold chain management during fish transportation which is positively impacting the market.
• Therefore, it is expected to drive the market growth during the forecast period.

Challenges 

• Increasing regulations in the seafood industry is a major challenge impeding market growth.
•  The seafood industry has to comply with several stringent regulations in many countries.
• Several manufacturers are finding it hard to comply with such strict regulations that restrict them from acting independently in the industry.
• For example, the Food and Drug Administration (FDA) is one of the main authorities that enforces certain rules for manufacturers in the US.
• However, these regulations are compulsory as seafood businesses must identify all the food safety hazards that may occur and must provide a system of control at each step to resolve hazards. 
• Hence, such stringent rules are negatively impacting the market, which in turn will hinder the market growth during the forecast period.

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Keg Segments:

The market share growth of the terminal segment will be significant during the forecast period. A facility in a port that contains a platform for loading, unloading, and storing fish is known as a terminal segment. One of the key advantages of this segment is that it enables extremely fast loading and unloading facilitating the way to clear the ships quickly. There are many ports that contain huge container terminals that are specifically designed to manage container ships and store fish. As a result, it is significantly contributing to the growth of this segment. In addition, the wide use for the effective storage of fish for further use is fuelling the demand for seafood boxes across terminals. Hence, such factors are fuelling the growth of this segment which in turn will drive the market growth during the forecast period.

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ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Application

Market Segmentation by Material

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

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