Corrugated Fish Box Market : Overview
The market for corrugated fish boxes witnessed massive slowdown in its progress as a result of the spread of Covid-19 pandemic across the globe. The level of demand declined to the extreme level due to lockdown creating hurdles for the key players operating in this market. However as recovery commences in 2021, major players are recuperating their positions through production expansion, capacity utilizations and online selling in 2021 keeping in view the covid-19 norms.
Recognized companies such as BASF, CRT Packaging, EPPOR-PACK SDN. BHD, Ocean Roto Moulding Sdn. Bhd., PPS, Sekisui Plastics Co. Ltd., Smurfit KSnyder Industries, STYRO, Styropack, The Craemer Group, Tri-Core Plastics Containers Ltd. and others are focusing on the incorporation of tactics including partnership agreements, sales contracts, strategic alliances, diversifications, innovative launches, mergers & acquisitions, research and developments, technological upliftments, product line extensions, hiring technical expertise, joint ventures, collaborations, product approvals etc for gaining a competitive edge over others in the market.
For instance, in 2020, DS Smith announced the launch of an antimicrobial and virus resistant packaging solution to offer safety to the consumers. The company noticed that six in ten consumers wash their hands thoroughly after touching packaged groceries, as a result of coronavirus pandemic. The company partnered with Touchguard to develop a new range of bacteria and virus-safeguarded sustainable cardboard packaging across its operations in Europe and North America. The launch of antiviral and anti-bacterial packaging will offer more protection to the customers along with the workers throughout the supply chain. In addition to this, DS Smith in collaboration with ERFURT won the Corrugated Board Innovation Award 2021 for making wallpapering easy. The rising seafood demand in North America has led to a significant growth of the corrugated fish box market. The Asia Pacific market is predicted to pick up pace through 2030 owing to the growth in the aquaculture industry and fish farming and emergence of leading manufacturing companies and new domestic players. All the other key regions such as Western and Eastern Europe, Latin America, Japan and MEA are driving the market growth and opening various opportunities for manufacturers.
Emergence of Eco-Packaging Solutions to Significantly Push Sales of Corrugated Fish Box
Good insulation qualities of EPS traditionally drove its demand in the food packaging industry. However, growing environmental concerns shifted consumer demand towards eco-friendly packaging solutions, thereby creating lucrative growth opportunities for corrugated fish box market. Need for effective barrier solutions to fat, water and moisture further drives the demand for corrugated fish box.
Companies such as Stora Enso had entered into collaboration with Walki for developing EcoFishBoxTM, which is likely to provide positive growth impact on the corrugated fish box market. Rapidly increasing demand for customers for fresh fish packaging solutions is expected to further drive the growth of corrugated fish box market.
EcoFishBoxTM, newly developed by Stora Enso holds 100% recyclable properties and requires less space compared to conventional EPS box corrugated fish box. Key players and manufacturers in corrugated fish box market can enter into partnership with Stora Enso as it has been taking immense efforts in developing leak-tight and waterproof corrugated fish box.
Fish industry is expected to increase the adoption of EcoFishBoxTM, thereby expanding the customer base in corrugated fish box market. Surging demand for meeting hygiene standards is anticipated to drive the demand and supply of EcoFishBoxTM, thereby offering potential growth opportunities for corrugated fish box market.
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Corrugated Fish Box Market: Overview
Corrugated fish box is a sustainable solution from the packaging sector for processed and raw fish processors. Expansion of global trade has necessitated the use of innovative packaging formats and designs that ensure higher shelf life of perishable food items, such as fish and fish products.
The globalization of local cuisines has also increased the demand for specific variety of fish across the globe, which needs an efficient packaging solution. Albeit, growing awareness regarding vegan food, a number of fish-consuming population has increased substantially over the past few years. In order to cater the demand for this specific consumer base, corrugated fish box is surfaced to be a reliable packaging option.
Apart from prima facie growth drivers, the corrugated fish box market is also driven by the increase in the consumption of fish, rapid expansion in the aquaculture industry, and rise in export and import of fish. In the last 20 years, production of captured fisheries has increased from 69 million to 93 million tons, whereas the aquaculture industry has increased its production from 5 million to 63 million tons.
Transportation of fish safely and fresh is a challenging task for the fish suppliers. Corrugated fish box is highly preferred and recommended due to its recyclable nature and it occupies less space. Other fish packaging methods are most probable to gain acceptance in the coming years. Corrugated fish boxes has a coating of expanded polystyrene (EPS), which has waterproof and moisture-proof properties.
Global Corrugated Fish Box Market: Scenario
The global corrugated fish box market is expected to witness high-value growth in terms of CAGR over the forecast period. The growth of the corrugated fish box market is owing to rising demand for fish for human consumption. Consumption of fish is gaining traction due to its health benefits. The developed economies of North America and Europe have a large number of corrugated fish box manufacturing companies with high investment capabilities due to high consumption of the fish and fish products.
The corrugated fish box market is expected have a decent growth in the developed economies, but it is expected to proliferate in the developing economies in the Asia Pacific. China and India rank first and second producers of the fish, which opens vast opportunities for the investors in these countries. Asia Pacific, North America and Europe are expected to contribute major shares in the global corrugated fish box market.
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Global Corrugated Fish Box Market: Dynamics
The primary factor driving the growth of the corrugated fish box market in the packaging industry is the rise in the demand for the sea food. As fish has high protein content, the demand for fish and fish products is increasing. In Asia Pacific, the corrugated fish box market is expected to gain maximum share due to growing aquaculture industry and fish farming. Alternate factors influencing the corrugated fish box market are urbanization and preference of healthy food. The manufacturers of corrugated fish boxes are more concerned towards the quality, the use of the coating and laminating of corrugated fish boxes.
However, the restraining factor for the growth of the corrugated fish boxes is use of expanded polystyrene (EPS), which has 80% of plastic content. Strict regulations against the use of plastic across the globe can impact the growth of the corrugated fish boxes market in a negative way.
Global Corrugated Fish Box Market Key Players
A large number of players are present in Europe and North America, but corrugated fish box manufacturers are focusing on expanding their presence in the Asia Pacific region, particularly China, Indonesia and India. Examples of some of the key players operating in the corrugated fish box market are Smurfit Kappa PlC, DS Smith PLC, Stora Enso Oyj, Walki Group Oy, Fronteir Packaging Inc, and VA Whitley & co., among others.
This analytical research study imparts an all-inclusive assessment on the market, while propounding historical intelligence, actionable insights, and industry-validated & statistically-upheld market forecast. Verified and suitable set of assumptions and methodology has been leveraged for developing this comprehensive study. Information and analysis on key market segments incorporated in the report has been delivered in weighted chapters. A thorough analysis has been offered by the report on
- Market Dynamics
- Market Size
- Market Segments
- Demand & Supply Trends
- Current Issues and Challenges
- Companies and Competitor Landscape
- Value Chain
An Adaptive Approach to Modern-day Research Needs
Regional Segments Analyzed Include
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Middle East and Africa (GCC, S. Africa, N. Africa)
Compilation of authentic and first-hand intelligence, insights offered in the report are based on quantitative and qualitative assessment by leading industry experts, and inputs from opinion leaders & industry participants around the value chain. Growth determinants, macroeconomic indicators, and parent market trends have been scrutinized and delivered, coupled with the market attractiveness for each market segment encompassed. Qualitative impact of growth influencers on the market segments across regions has also been mapped by the report.
Highlights from the Report
- Elaborated scenario of the parent market
- Transformations in the market dynamics
- Detailed segmentation of the target market
- Historical, current and forecast market size based on value and volume
- Latest industry developments and trends
- Competition landscape
- Strategies adopted by the market players and product developments made
- Potential and niche segments, along with their regional analysis
- Unbiased analysis on performance of the market
- Up-to-date and must-have intelligence for the market players to enhance and sustain their competitiveness
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Global Corrugated Fish Box Market Segmentation
The corrugated fish box market can be segmented based on Product Type, Weight and Region.
On the basis of Product type, the corrugated fish box market is segmented into
- Coating Type
- Lamination Type.
By Weight, the corrugated fish box market can be segmented into
- up to 20 lbs
- 20 lbs to 40 lbs
- above 40 lbs.
Geographically, the global corrugated fish box market is segmented into six regions, namely
- North America
- Latin America
- Asia Pacific except Japan
- Middle East Africa
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