LONDON--(BUSINESS WIRE)--Technavio’s latest report on the global fish box market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
The research study by Technavio on the global fish box market for 2017-2021 provides a detailed industry analysis based on the type of material (expanded polystyrene (EPS) and polypropylene) and geography (EMEA, APAC, and the Americas).
|Fish box is used for storing fish by providing an insulated environment that helps in increasing the shelf life of fish and protects it from deterioration. Technavio analysts forecast the global fish box market to grow to USD 1,476 million by 2021, at a CAGR of more than 7% over the forecast period.|
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The top three emerging trends driving the global fish box market according to Technavio transportation and logistics research analysts are:
- Increasing demand for lightweight packaging
- Growing demand for rigid plastic packaging
- Increasing e-marketplace for fishing industry
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Increasing demand for lightweight packaging
Consumers, wholesalers, and merchants prefer using lightweight packaging materials. The packaging made of components such as fiber and EPS consists of nearly 35% lesser plastic than other plastic packaging components, which reduce the weight of the overall packaged products by more than 40%.
“Using lightweight packaging materials provide an efficient transportation of packaged products, which increases the demand for lightweight packaging. Therefore, there is an increase in the use of lightweight materials such as EPS and fiber in the construction of fish boxes,” says Shakti Jakhar, a lead analyst at Technavio for packaging research.
Growing demand for rigid plastic packaging
The rigid plastic packaging segment was estimated at more than USD 170 billion in 2016 and is expected to grow at a CAGR of over 4.5% during the forecast period. There is a rising demand for rigid packaging as it protects the delicate contents from any external forces.
The food industry is the primary end-user for the global rigid plastic packaging market. The food industry constituted a share of more than 50% in the overall packaging industry in 2016, which will positively impact the global fish box market during the forecast period.
Increasing e-marketplace for fishing industry
“It is observed that there is a growing interest from consumers for online fish markets. With the help of the e-marketplace, the entire supply chain becomes very coordinated from suppliers to distributors, which is beneficial to all the stakeholders,” says Shakti.
Furthermore, many online fish marketplaces such as Pesca2.com, Sea-Ex, and SeafoodNews.com operate around the world to sell fish products to customers. The development of these e-marketplaces is helping in the growth of the global fish industry, which, in turn, will increase the demand for the global fish box market.
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