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
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.
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.
Market Trends, Drivers, Restraints, and Opportunities
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Rising awareness about various benefits of fish sauce is expected to drive the market growth.
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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.
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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.
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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.
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.
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.
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