Fish Sauce Market Trends, Size, Share, Key Players and Forecast 2024-2032
Attributes and Key Statistics of the Fish Sauce Market Report by IMARC Group:
Base Year: 2023
Forecast Years: 2024-2032
Historical Years: 2018-2023
Units: USD Billion
Market Size in 2023: USD 16.4 Billion
Market Forecast in 2032: USD 21.3 Billion
Market Compound Annual Growth Rate 2024-2032: 2.8%
IMARC Group’s latest report, titled “Fish Sauce Market Report by Type (Korean Fish Sauce, Japanese Fish Sauce, Southeast Asian Fish Sauce, Western Fish Sauce, and Others), Composition (Basic, Premium), Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Specialty Stores, Online Stores, and Others), Industry Vertical (Food and Beverages, Household, Hotels and Restaurants, and Others), and Region 2024-2032”, offers a comprehensive analysis of the fish sauce market trends. The report also includes competitor and regional analysis, along with a breakdown of segments within the industry. the global fish sauce market size reached US$ 16.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 21.3 Billion by 2032, exhibiting a growth rate (CAGR) of 2.8% during 2024-2032.
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Fish Sauce Market Trends:
The global market is majorly driven by the rising awareness of the product's unique umami flavor, which enhances the taste of various dishes. Moreover, the product's growing popularity as a substitute for salt in culinary applications due to its health benefits, such as lower sodium content, is supporting market expansion. Furthermore, the rise in the number of restaurants and food outlets incorporating fish sauce in fusion cuisines is bolstering demand.
Additionally, the rise in e-commerce platforms has made fish sauce more accessible to a global audience. Besides, the growing interest in clean-label products and natural ingredients is prompting manufacturers to produce fish sauces with minimal additives, attracting health-conscious consumers. Moreover, the rising trend of home cooking during and post-pandemic periods has also contributed to increased sales. The growing awareness of fish sauce as a protein-rich condiment is boosting its demand in health and wellness markets.
Leading Key Players Operating in the Fish Sauce Industry:
Halcyon Proteins Pty Ltd
Masan Group
Pichai Fish Sauce Co. Ltd
Rayong Fish Sauce Industry Co. Ltd
Red Boat Fish Sauce
Rungroj Fish Sauce Co. Ltd
Teo Tak Seng Fish Sauce Factory Co. Ltd
Thai Fishsauce Factory (Squid Brand) Co. Ltd
Thaipreeda Group
Unilever plc
Fish Sauce Market Scope & Growth Analysis:
The market scope is broadening due to the increasing consumer interest in exploring international flavors, which has encouraged the use of fish sauce in Western dishes. The market is also expanding due to the rising demand for premium and artisanal fish sauces, which offer higher-quality ingredients and traditional fermentation methods. Furthermore, the trend towards healthier eating habits is promoting fish sauce as a natural alternative to synthetic flavor enhancers, creating additional growth opportunities.
Additionally, the shift towards plant-based diets has led manufacturers to innovate fish sauce alternatives, appealing to a broader customer base. Moreover, the food service industry's ongoing recovery from the pandemic is stimulating demand, particularly as restaurants and chefs seek authentic, bold flavors to diversify their menus. Expanding distribution channels, particularly through online retail platforms, further enhance the market's reach.
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Key Market Segmentation:
Breakup by Type:
Korean Fish Sauce
Japanese Fish Sauce
Southeast Asian Fish Sauce
Western Fish Sauce
Others
Breakup by Composition:
Basic
Premium
Breakup by Distribution Channel:
Supermarkets and Hypermarkets
Convenience Stores
Specialty Stores
Online Stores
Others
Supermarkets and hypermarkets currently exhibit a clear dominance in the market.
Breakup by Industry Vertical:
Food and Beverages
Household
Hotels and Restaurants
Others
Hotels and restaurants hold the largest market share.
Breakup by Region:
North America (United States, Canada)
Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Asia-Pacific currently dominates the global market.
Key Highlights of the Report:
Market Performance (2018-2023)
Market Outlook (2024-2032)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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