Fish Sauce Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Fish Sauce Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global fish sauce market size reached US$ 15.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 19.5 Billion by 2028, exhibiting a growth rate (CAGR) of 3.2% during 2023-2028.

Fish sauce is a brown liquid condiment produced by fermenting small fish with a considerable amount of salt. It is a rich source of iron, omega-3, vitamins and amino acids, which help improve appetite, control blood sugar levels and increase calcium absorption. It also assists in the hematopoiesis process, keeping a stable nervous system and supporting cell multiplication. As a result, it is extensively used as a seasoning and a dipping sauce in numerous staple dishes to give a meaty aroma and flavor.

Global Fish Sauce Market Trends:

Presently, there is a rise in the adoption of high nutritional food and condiments in regular diets on account of the growing health consciousness among individuals. This, along with the increasing utilization of fish sauce due to the surging cases of thyroid-related problems around the world, represents one of the key factors propelling the growth of the market. In addition, there is an increase in the popularity of Asian cuisine as it encompasses a healthy balance between meat and vegetables. This, coupled with the burgeoning food and beverage (F&B) industry, is catalyzing the demand for fish sauce worldwide. Besides this, the rising awareness among the masses about the benefits of fish sauce is offering lucrative growth opportunities to industry investors. Apart from this, its wide availability through online and offline distribution channels is positively influencing the market. Additionally, the escalating demand for fortified product variant to maintain healthy micronutrient levels in the body is bolstering the growth of the market. Key market players are also investing in improving the packaging to increase their overall sales. In line with this, they are significantly financing advertisement campaigns to generate brand awareness, which is projected to impel the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global fish sauce market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, composition, distribution channel and industry vertical.

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
South Korea
Australia
Indonesia
Others

Europe

Germany
France
United Kingdom
Italy
Spain
Russia
Others

Latin America

Brazil
Mexico
Others

Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being 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 and Unilever plc.

Key Questions Answered in This Report:

What was the size of the global fish sauce market in 2022?

What is the expected growth rate of the global fish sauce market during 2023-2028?

What are the key factors driving the global fish sauce market?

What has been the impact of COVID-19 on the global fish sauce market?

What is the breakup of the global fish sauce market based on the distribution channel?

What is the breakup of the global fish sauce market based on the industry vertical?

What are the key regions in the global fish sauce market?

Who are the key players/companies in the global fish sauce market?