Fish Sauce Market Outlook 2024, Share, Size, Key Players and Forecast By 2032

Written by Elena Anderson  »  Updated on: July 10th, 2024

Fish Sauce Market Outlook 2024, Share, Size, Key Players and Forecast By 2032

IMARC Group’s latest report, titled “Fish Sauce Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032”, offers a comprehensive analysis of the industry, which comprises insights on the fish sauce market report. The report also includes competitor and regional analysis, and contemporary advancements in the market. 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.

Fish sauce is a popular condiment made from fermented fish or krill, salt, and water. Originating from Southeast Asia, particularly Vietnam, Thailand, and Cambodia, it adds a unique savory flavor known as umami to dishes. Fish sauce undergoes a fermentation process that can range from several months to years, resulting in a pungent aroma and rich, salty taste. It is commonly used as a flavor enhancer in various cuisines, including Thai, Vietnamese, and Filipino, adding depth and complexity to soups, stir-fries, marinades, and dipping sauces. Despite its strong smell, fish sauce is prized for its ability to impart depth of flavor and balance to dishes, making it a staple ingredient in many Asian kitchens.

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Leading Key Players 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 Trends:

The global market is majorly driven by the growing popularity of Asian cuisine worldwide. As consumers develop a greater appreciation for diverse flavor profiles and culinary traditions, there is a rising interest in incorporating authentic Asian flavors into home cooking and restaurant menus, boosting the consumption of fish sauce. Besides, the rising awareness of health benefits associated with fish sauce, such as its rich umami taste and its ability to enhance the flavor of dishes without the need for additional salt or artificial flavorings, has led to its adoption as a healthier alternative in cooking. Additionally, the versatility of fish sauce in both traditional and fusion cuisines makes it a valuable ingredient for chefs and food manufacturers seeking to innovate and differentiate their products. Furthermore, the globalization of food markets and increased trade activities have facilitated the expansion of fish sauce production and distribution networks, allowing consumers from diverse cultural backgrounds to access and enjoy this savory condiment. Moreover, improvements in packaging technologies, transportation infrastructure, and storage facilities have further supported market growth by extending the shelf life and preserving the quality of fish sauce products, making them more accessible to consumers worldwide.

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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

Breakup by Industry Vertical:

• Food and Beverages

• Household

• Hotels and Restaurants

• Others

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)

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.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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