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2023

Fish Sauce Market

Fish Sauce Market Size, Share, Competitive Landscape and Trend Analysis Report, by Nature, by Type, by Application, by Distribution Channel : Global Opportunity Analysis and Industry Forecast, 2023-2032

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Author's: Dhanraj Bharatrao Lomate | Roshan Deshmukh
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Fish Sauce Market Research, 2032

The global fish sauce market size was valued at $5.9 billion in 2022 and is projected to reach $9.3 billion by 2032, growing at a CAGR of 4.6% from 2023 to 2032.

Fish Sauce Market

Fish sauce, a  preferred condiment in Asian cuisine, holds a fascinating history dating back centuries. Crafted by fermenting fish with salt, this process yields a pungent yet alluring liquid brimming with umami goodness. With its origins deeply rooted in Southeast Asian and East Asian culinary traditions, fish sauce has transcended borders, finding its place in kitchens worldwide. Whether adding depth to savory stir-fries or serving as a dipping sauce for delectable snacks, its versatile flavor profile has captured the hearts of food enthusiasts far and wide.

As people continue to explore new tastes and flavors, their culinary horizons have expanded, leading to a surge in interest in cuisines from across the globe. Among these, Asian cuisine stands out, with fish sauce being an important element in food. The global food industry's growth, combined with consumers' growing awareness and appreciation for diverse flavors, has played a significant role in boosting the fish sauce market. Furthermore, as consumers' preferences evolve over time, influenced by exposure to different cultures, travel experiences, and a desire for culinary variety, there has been a notable trend toward embracing global cuisines, particularly Asian cuisine, which heavily relies on fish sauce for its distinct taste. The increasing demand for unique and exotic flavors is expected to propel the growth of the fish sauce market in the upcoming years.

The market demand for fish sauce is propelled by the powerful interplay of cultural and culinary traditions. Across various Asian countries, fish sauce holds a deep-rooted cultural significance and remains an essential component of traditional dishes. As the popularity of these Asian cuisines spreads across the globe, there is a growing admiration for genuine flavors and authentic ingredients, with fish sauce taking the spotlight. The longstanding practice of using fish sauce in regional recipes sparks a sense of authenticity and intrigue among consumers, inspiring them to delve into this vital condiment for their own culinary ventures. Moreover, with people from diverse backgrounds embracing Asian cuisine, the demand for fish sauce continues to surge, firmly establishing it as a must-have staple in households and restaurants worldwide. Embrace the captivating journey of flavors as fish sauce enriches culinary experiences, bridging cultures and tastes like never before.

The fish sauce market is on an upward trajectory, fueled by the rising demand for ethnic cuisine, especially from Asian and Southeast Asian regions. As people delve into the authentic flavors of these cultures, fish sauce emerges as a pivotal flavor enhancer. Globalization and cultural blending have catapulted the popularity of Asian cuisine worldwide, creating a broader consumer base seeking fish sauce to recreate these delectable tastes in their own kitchens which is expected to drive fish sauce market demand. Moreover, the incorporation of Asian-inspired dishes in restaurants and the food service industry further amplifies the demand for fish sauce in commercial food preparation. Influential culinary media and social media influencers play a significant role in spreading its popularity. Embracing the health benefits and unique umami taste of fish sauce, consumers drive its continuous fish sauce market growth, presenting promising opportunities for fish sauce manufacturers to thrive and expand their reach.

The fish sauce market faces significant challenges due to allergen concerns, as the product's origin from fermented fish poses a risk for individuals with fish allergies. As the prevalence of food allergies has increased, a considerable portion of the population has steered clear of fish sauce, limiting its potential customer base. In response to health-conscious consumers seeking allergen-free options, they explore alternative condiments that pose no risk to their well-being. This constraint impedes the widespread adoption and consumption of fish sauce, affecting its market share and growth prospects. To overcome this hurdle, manufacturers consider developing allergen-free fish sauce alternatives or implementing clear product labeling to inform consumers about potential allergens, thereby catering to a broader and more inclusive audience. To embrace a future where everyone savor the captivating flavors of fish sauce without any worries, manufacturers strive to ensure safety and accessibility for all.

The fish sauce market is segmented into type, application, distribution channel, and region. By type, the market is divided into Korean fish sauce, Japanese fish sauce, Southeast Asian fish sauce, and others. By application, the market is classified into food & beverages, household, hotels & restaurants, and others. By distribution channel, the market is categorized into hypermarkets & supermarkets, specialty stores, online retail, and others. Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, Italy, Spain, the UK, Russia, and the rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, Thailand, Malaysia, Indonesia, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, UAE, Argentina, and rest of LAMEA).

Fish Sauce Market by Nature

Based on nature, the conventional segment held the major fish sauce market share in 2022. The market for conventional fish sauce is driven by the longstanding culinary traditions of Southeast Asian countries where it's a staple ingredient. The demand for traditional dishes that require fish sauce, such as pho, pad Thai, and nuoc mam, contributes to its consistent consumption. As urbanization increases, busy lifestyles drive the demand for convenience foods and pre-prepared ingredients. Fish sauce's ability to enhance flavors quickly makes it an attractive option for busy consumers seeking to add complexity to their meals.

Fish Sauce Market by Type

By type, the Southeast Asian fish sauce segment held the major share of the market in 2022. As global food trends continue to focus on exploring new and exotic ingredients, Southeast Asian fish sauce has garnered attention from chefs, food enthusiasts, and home cooks alike. Its unique taste and ability to elevate various dishes have made it a sought-after ingredient in international kitchens. Moreover, the proliferation of Southeast Asian restaurants and eateries across the globe has exposed more people to the flavors of the region. These establishments often incorporate fish sauce in their dishes, familiarizing customers with its taste and encouraging them to use it in their home cooking.

Fish Sauce Market by Application

By application, the hotels & restaurants segment held the major share of the market in 2022 and is expected to maintain its dominance during the fish sauce market forecast. Fish sauce is packed with important nutrients and minerals. Some types have less salt than other seasonings. As people become more health-conscious, they look for healthier alternatives to the usual seasonings they use. Plus, fish sauce is simple to use, just a few drops of it makes a dish taste amazing.

Fish Sauce Market by Distribution Channel

By distribution channel,  the hypermarkets and supermarkets segment held the major share of the market in 2022 and is expected to maintain its dominance during the forecast period. The expansion of the hypermarket and supermarket category in the fish sauce market is attributed to the increased consumption of fish sauce in both mature and emerging markets. Customers benefit from the availability of fish sauce in different types, discounts on certain brands, the assistance of sales personnel, and convenient checkouts at hypermarkets and supermarkets. The proliferation of new hypermarkets and supermarkets in the suburbs has given consumers the ability to select the sort of fish sauce that best suits their needs.

Fish Sauce Market by Region

Region-wise, Asia-Pacific held the major market share of the market in 2022. Global brands strive among themselves to deliver better value propositions and effective marketing strategies. Asia-Pacific is projected to grow at the highest CAGR, owing to the constantly expanding food service sector, where fish sauces is largely demanded. The surge in urbanization and high standard of living of the people, especially in developing countries including India and China, are driving the growth of the fish sauce market in the Asia-Pacific region.

The players in the fish sauce market have adopted acquisition, business expansion, partnership, collaboration, and product launch as their key development strategies to increase profitability and improve their position in the fish sauce market.

Some of the key players profiled in the fish sauce market analysis include Rungroj Fish Sauce Co., Ltd., Viet Phu, Inc., Rayong Fish Sauce Industry Co., Ltd., Teo Tak Seng Fish Sauce Factory Co., Ltd., Pichai Fish Sauce Co. Ltd., Tang Sang Ha Company Limited, Thai Fish Sauce Factory (Squid Brand) Co., Ltd., Marine Resources Development Co., Ltd., Halcyon Proteins Pty. Ltd., and Thai Preeda Trading Co., Ltd.

Key Benefits For Stakeholders

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the fish sauce market analysis from 2022 to 2032 to identify the prevailing fish sauce market opportunities.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the fish sauce market segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes the analysis of the regional as well as global fish sauce market trends, key players, market segments, application areas, and market growth strategies.

Fish Sauce Market Report Highlights

Aspects Details
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Market Size By 2032

USD 9.3 billion

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Growth Rate

CAGR of 4.6%

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Forecast period

2022 - 2032

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Report Pages

320

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By Nature
  • Conventional
  • Premium
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By Type
  • Korean Fish Sauce
  • Japanese Fish Sauce
  • Southeast Asian Fish Sauce
  • Others
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By Application
  • Food and Beverages
  • Household
  • Hotels and Restaurants
  • Others
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By Distribution Channel
  • Hypermarkets and Supermarkets
  • Specialty Stores
  • Online Retail
  • Others
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By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (Germany, France, Italy, Spain, UK, Russia, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Australia, Thailand, Malaysia, Indonesia, Rest of Asia-Pacific)
  • LAMEA  (Brazil, South Africa,, Saudi Arabia, UAE, Argentina, Rest of LAMEA)
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Key Market Players

Teo Tak Seng Fish Sauce Factory Co., Ltd., Rayong Fish Sauce Industry Co., Ltd., Marine Resources Development Co., Ltd., Viet Phu, Inc., Tang Sang Ha Company Limited, Rungroj Fish Sauce Co., Ltd., Thai Preeda Trading Co., Ltd., Thai Fish Sauce Factory (Squid Brand) Co., Ltd., Halcyon Proteins Pty. Ltd., Pichai Fish Sauce Co. Ltd.

Analyst Review

According to the insights of CXOs of leading companies, the fish sauce market holds a substantial scope for growth; however, its contribution to the global market is expected to increase significantly within the next six years. Innovation is the key to the success of the fish sauce market.

The global fish sauce market exhibits high growth potential in developing economies such as India and China, owing to an increase in disposable income and high spending for improving a high standard of living. With the rise in demand for fish sauce, manufacturers invest more in R&D to cater to this increase in demand. Manufacturers incorporate the latest technology to increase production efficiency and quality. Moreover, the rise in demand for natural fish sauce among consumers makes way for manufacturers to come up with natural fish sauce along with affordable prices and eco-friendly packaging.

Author Name(s) : Dhanraj Bharatrao Lomate | Roshan Deshmukh
Frequently Asked Questions?

The global fish sauce market size was valued at $5,978.2 million in 2022 and is projected to reach $9,323.8 million by 2032, registering a CAGR of 4.6% from 2023 to 2032.

The fish sauce market is segmented into nature, type, application, distribution channel, and region. By type, the market is divided into Korean fish sauce, Japanese fish sauce, southeast Asian fish sauce, and others. By application, the market is classified into food & beverages, household, hotels & restaurants, and others. By distribution channel, the market is categorized into hypermarkets & supermarkets, specialty stores, online retail, and others. Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, Italy, Spain, the UK, Russia, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, Thailand, Malaysia, Indonesia, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, UAE, Argentina, and rest of LAMEA).

Asia-Pacific is the largest regional market for fish sauce

The major players analyzed for the fish sauce market are Rungroj Fish Sauce Co., Ltd., Viet Phu, Inc., Rayong Fish Sauce Industry Co., Ltd., Teo Tak Seng Fish Sauce Factory Co., Ltd., Pichai Fish Sauce Co. Ltd., Tang Sang Ha Company Limited, Thai Fish Sauce Factory (Squid Brand) Co., Ltd., Marine Resources Development Co., Ltd., Halcyon Proteins Pty. Ltd., and Thai Preeda Trading Co., Ltd.

The global fish sauce market report is available on request on the website of Allied Market Research.

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Fish Sauce Market

Global Opportunity Analysis and Industry Forecast, 2023-2032