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Fish Sauce Market Analysis, Share, Industry & Revenue [2031]
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Fish Sauce Market Analysis, Share, Industry & Revenue [2031]

Segments - Fish Sauce Market by Product Types (Traditional and Industrial), Compositions (Premium and Basic), End-users (Retail, Food Manufacturers, and Food Services), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031

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Author : Anuradha B. More
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Fact-checked by : Vaibhav Chandola
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Editor : Shruti Bhat

Upcoming | Report ID :FB-2152 | 4.9 Rating | 65 Reviews | 214 Pages | Format : PDF Excel PPT

Report Description


The global fish sauce market size was valued at USD 15.98 Billion in 2022 and is likely to reach USD 22.43 Billion by 2031, expanding at a CAGR of 3.84% during 2023 – 2031. The growth of the market is attributed to the increasing demand for fish sauce from Southeast Asia.

Fish sauce is a rancid earthy colored fluid, which is used as a vital flavoring ingredient in Thai cooking. This sauce is produced using fermented fish and salt. It is utilized as a topping in various cooking styles. Fish sauces are a blend of the fish embodiments, seasonings, additives, colors, and sugars. It is a staple in seaside districts of East Asia and Southeast Asia. Fish sauce is consumed in high amount in Vietnam. Individuals in Vietnam accept that home-made fish sauces, as they are more nutritious and beneficial for wellbeing, as it contains significant level of nitrogen.

Fish Sauce Market Outlook

Growing health consciousness has inclined population toward consumption of fish sauces. This type of sauce is utilized as soy sauce in Chinese cuisine and as a salt in western cooking. It is utilized as a crucial add-on for goulashes and soups in pieces in Southern China.

  • Rising awareness about various benefits of fish sauce is expected to drive the market growth.

  • Increasing utilization of fish sauce in different variety of dishes and expanding popularity of Asian cooking styles across the globe is estimated to spur the market growth in the projected timeline.

  • The easy accessibility of other substitute sauces coupled with the time and cost associated with the preparation of fish sauce is expected to create challenges for the market growth during the forecast period.

  • Growing adoption of high nourishing food in daily diet is anticipated to stimulate the market expansion.

Scope of Fish Sauce Market Report

The report on the global fish sauce market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Fish sauce  Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2022

Historic Data

2016–2021

Forecast Period

2023–2031

Segmentation

Product Types (Traditional and Industrial), Compositions (Premium and Basic), and End-users (Retail, Food Manufacturers, and Food Services)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Thai Fishsauce Factory (Squid Brand) Co. Ltd; Red Boat Fish Sauce; Masan Group; Hung Thanh Fish Sauce; and Unilever Food Solutions

Fish Sauce Market Segment Insights

Industrial segment is expected to grow at a rapid pace

Based on product types, the fish sauce market is divided into traditional and industrial. The industrial segment is expected to grow at a rapid pace during the forecast period. Increasing health cognizance among the customers has encouraged manufacturers to produce fish sauce by fermenting the fish using natural methods, such as water and salt.

Fish Sauce Market Types

Premium segment is projected to expand at a robust CAGR

On the basis of compositions, the market is segregated into premium and basic. The premium segment is projected to expand at a robust CAGR during the forecast period due to increasing spending of consumers on high-quality products.

Retail segment is anticipated to register a healthy growth

In terms of end users, the market is classified as retail, food manufacturers, and food services. The retail segment is estimated to account for a significant market share in the projected timeline. The presence of major hypermarkets and supermarkets is driving the growth of the market segment. Many retail locations provide fish sauces in Asian nations, consequently, making it simpler for customers to purchase food items.

Fish Sauce Market End-users

North America is anticipated to constitute a large market share

In terms of regions, the fish sauce market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in North America is expected to constitute a key share of the market during the projected period owing to high product demand from the food service industry and restaurants in countries such as the US and Canada.

Fish Sauce Market Region

Segments

The global fish sauce market has been segmented on the basis of

Product Types

  • Traditional
  • Industrial

Compositions

  • Premium
  • Basic

 End-users

  • Retail
  • Food Manufacturers
  • Food Services

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

Competitive Landscape

Key players competing in the fish sauce market are Thai Fishsauce Factory (Squid Brand) Co. Ltd; Red Boat Fish Sauce; Masan Group; Hung Thanh Fish Sauce; and Unilever Food Solutions.

Some of these companies are engaging in several marketing strategies, such as new product development and mergers and acquisitions to expand their geographical reach. For instance, in October 2016, Masan Group launched a Vietnamese fish sauce to the Thai market. Aside from product development, manufacturers are additionally focusing on packaging as it has a crucial part in determining the item quality, dietary benefit, color, surface, taste, and brand image.

Fish Sauce Market Keyplayers

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Fish Sauce Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Fish Sauce Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Fish Sauce Market - Supply Chain
  4.5. Global Fish Sauce Market Forecast
     4.5.1. Fish Sauce Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Fish Sauce Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Fish Sauce Market Absolute $ Opportunity
5. Global Fish Sauce Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Fish Sauce Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Fish Sauce Demand Share Forecast, 2019-2026
6. North America Fish Sauce Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Fish Sauce Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Fish Sauce Demand Share Forecast, 2019-2026
7. Latin America Fish Sauce Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Fish Sauce Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Fish Sauce Demand Share Forecast, 2019-2026
8. Europe Fish Sauce Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Fish Sauce Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Fish Sauce Demand Share Forecast, 2019-2026
9. Asia Pacific Fish Sauce Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Fish Sauce Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Fish Sauce Demand Share Forecast, 2019-2026
10. Middle East & Africa Fish Sauce Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Fish Sauce Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Fish Sauce Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Fish Sauce Market: Market Share Analysis
  11.2. Fish Sauce Distributors and Customers
  11.3. Fish Sauce Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Thai Fishsauce Factory (Squid Brand) Co. Ltd
     11.4.2. Red Boat Fish Sauce
     11.4.3. Masan Group
     11.4.4. Hung Thanh Fish Sauce
     11.4.5. Unilever Food Solutions

Methodology

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