Overview and Scope
Fish sauce is a flavoring created from fermented fish in salt for several months, resulting in a spicy, flavorful, and salty drink. It is used as a flavoring agent in various cuisines, to add depth and complexity to dishes.
Sizing and Forecast
The fish sauce market size has grown strongly in recent years. It will grow from $17.18 billion in 2023 to $18.47 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to culinary diversity, globalization of cuisines, changing dietary preferences, cultural influences, increased consumer awareness..
The fish sauce market size is expected to see strong growth in the next few years. It will grow to $23.78 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to continued culinary exploration, health consciousness, global fusion cuisine trends, rising interest in umami flavors, expansion into new markets.. Major trends in the forecast period include expansion of fish sauce application in culinary arts, packaging innovations for convenience, rise in demand for premium and specialty brands, exploration of fusion flavors and blends, increased awareness of health benefits, globalization of fish sauce brands..
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Segmentation & Regional Insights
The fish sauce market covered in this report is segmented –
1) By Product Type: Korean Fish Sauce, Japanese Fish Sauce, Southeast Asian Fish Sauce, Western Fish Sauce
2) By Flavour: Plain, Spiced
3) By Price: Basic, Premium
4) By Distribution Channel: Supermarket And Hypermarket, Convenience Stores, Specialty Stores, Online Retailers
5) By Application: Domestic Use, Restaurants, Food Industries
North America was the largest region in the fish sauce market in 2023. The regions covered in the fish sauce market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increasing seafood consumption is expected to propel the fish sauce market going forward. Seafood is a rich source of protein and minerals. It is also a well-known international food popular for its distinct flavors and textures. Several popular seafood dishes include fish sauce. Fish sauce demand is increasing as more people become acquainted with the taste and include it in their seafood preparation. For instance, in 2021, as per the Food and Agriculture Organization, an Italy-based international organization, global fish consumption is expected to rise by 16.3% by 2029, reaching 180 Mt. Additionally, in July 2022, as per Statistics Iceland, an Iceland-based government agency, the overall fish catch in June 2022 was nearly 35,000 tons, a 14 thousand tons rise over June 2021. Therefore, the increasing seafood consumption will drive the fish sauce market.
Key Industry Players
Major companies operating in the fish sauce market report are Tang Sang Hah Co. Ltd., Masan Group, Thai Preeda Co. Ltd., Shantou Haimao Foodstuff Factory Limited Company, Teo Tak Seng Fish-Sauce Factory Co. Ltd., Thai Fishsauce Factory Squid Brand Co Ltd., Rayong Fish Sauce Industry Co. Ltd., Pichai Fish Sauce Co. Ltd., Halcyon Proteins PTY Ltd., Hung Thanh Co. Ltd., Unilever PLC, Nestle S.A., Louisiana Fish Fry, Pantainorasingh Manufacturer Co. Ltd., Phu Nhi, Thanh Hung Co. Ltd., Viet Phu Inc., Shantou Fish Sauce Factory Co. Ltd., Aguacates Seleccionados JBR, Henry Avocado Corporation, Del Rey Avocado Co. Inc., Mission Produce, Calavo Growers., Westfalia Fruit, Costa Group Holdings Ltd., Camposol., West Pak Avocado Inc., Grupo Hame .
The fish sauce market report table of contents includes:
1. Executive Summary
2. Fish Sauce Market Characteristics
3. Fish Sauce Market Trends And Strategies
4. Fish Sauce Market – Macro Economic Scenario
5. Global Fish Sauce Market Size and Growth
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31. Global Fish Sauce Market Competitive Benchmarking
32. Global Fish Sauce Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Fish Sauce Market
34. Fish Sauce Market Future Outlook and Potential Analysis
35. Appendix
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