Fish Sauce Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Fish Sauce Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The global fish sauce market is expected to register a CAGR of 3.2%, during the forecast period (2021 - 2026).

The rise in demand for fortified fish sauce and significant demand from the Southeast Asian countries are driving the global fish sauce market.

The easy availability of other substitute sauces, coupled with the time and cost involved in the preparation of fish sauce, is the major challenge faced by the fish sauce market.

The distribution channels play a crucial role in the market, as fish sauce is exported from the Southeast Asian countries. A well-established distribution channel is required for the sales of these products.

The market witnesses a fierce competition among the existing brands, manufacturing traditional as well as industrial fish sauce.

Key Market TrendsSupermarkets/Hypermarkets Remain the Largest Distribution Channel

The increasing demand for convenience, among the population, has led to the availability of fish sauces in the supermarkets/hypermarkets. Modern trade channels have taken the front seats, resulting in the increasing market shares of the supermarkets and hypermarkets. The varied product options, provided under a single roof, have given this channel an added advantage. The fish sauce section at a supermarket in Saigon has various brands of fish sauce, on its shelves. Stores, like Whole Foods, do not offer Megachef, but they do have Red Boat, an excellent artisanal brand from Vietnam. Many convenience stores are available in Asian countries, thereby, making it easier for consumers to buy food products.

North America is the Fastest Growing Market Segment

The major players in the United States fish sauce market are the international players from Thailand, Vietnam, and Singapore. Some of the major brands in the country are Red Boat Fish Sauce and Squid. The consumer demand for the fish sauce will continue to increase, due to the various health benefits offered by the product, and also because it boosts the taste of the food. Due to increasing health-consciousness among the consumers, manufacturers are making the fish sauce by fermenting the fish using natural ingredients, such as salt and water. Despite significant demands from the Southeast Asian countries, the United States is witnessing a growing market for fish sauce. This growth is further promoted by the expansion of the distribution channels.

Competitive Landscape

The global fish sauce market is consolidated and highly competitive, particularly with the dominance of a few global players. Masan Consumer and Red Boat are the leading players in the global fish sauce market. The strategies for expansions and strategic agreements have been crucial for their development in the global market scenario. Hung Thanh is a traditional fish sauce manufacturer, that exports its products to the European, Asian, American, and Australian markets.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

IBM Corporation
Oracle Corporation
Internap Corporation
Packet Inc. (An Equinix Inc. Company)
Scaleway Inc.
Amazon Web Services Inc
Rackspace Inc.
CenturyLink, Inc.
LightEdge Solutions, Inc

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