Top Emerging Trends Of Fish Sauce Market Progress Forecast 2025

Posted by Mrudula Anil Karmarkar on February 15th, 2021

According to a recent report published by Grand View Research Inc., an increase in product offerings and demand for seasoning is set to drive fish sauce market expansion.

According to a report, “Fish Sauce Market Size, Share & Trends Analysis Report By Product Type (Traditional, Industrial), By Application (Domestic/Household, Foodservice Industry, and Restaurant), By Region, And Segment Forecasts, 2019 – 2025”, published by Grand View Research, Inc. The global fish sauce market size is expected to reach USD 19.50 billion by 2025, registering a CAGR of 3.51%, as per a new report by Grand View Research, Inc. Fish sauce contains a variety of vital nutrients and minerals such as vitamins A, vitamin D, and iodine. Rising cases of thyroid problems and other lifestyle-related disorders have led to an augmented demand for fish across the globe, thereby fueling the market growth.

Amidst the global pandemic crisis and the indefinite lockdown across nations, the consumer food & beverage industry first witnessed high demand for household staples, healthy food items, and consumables with longer shelf lives. The demand for frozen food products, fruits & vegetables, eggs, flour, and whole grains, among others, witnessed a considerable increase during the early stages of the crisis. Presently, most companies in the industry are faced with low consumption of their products and supply chain challenges. The companies are focusing more on altering their supply chains in order to reinforce their online presence and delivery measures, in an attempt to adapt to the present business environment. The changes in consumer buying behavior and the dynamic shifts towards online and D2C distribution channels may have serious implications on the near future growth of the industry. Our team is diligently working towards accounting these factors in our report with the aim of providing you with the up-to-date, actionable market information and projections.

Fish sauce is popularly used as an alternative to soy sauce in numerous countries since it has greater health benefits. Furthermore, it is used as an ingredient for soups and casseroles, which is supporting its demand. Also, industry players are using natural fermentation processes with the addition of sea salt and anchovies to supplement the product’s nutritional value. This is likely to contribute to the market growth.

Fish sauce is recognized as a staple ingredient in several cuisines, which will spur the demand in the forthcoming years. Moreover, print advertisements and social media have played a big role in creating product awareness among the masses, thereby supporting the overall market growth. The U.S. is the largest consumer and North America is anticipated to be the dominant regional market during the forecast period.

Fish Sauce Market Report Highlights

  1. Amidst the global Covid-19 pandemic crisis and the lockdown imposed across nations, the consumer food market including fish sauce industry has first witnessed enormous demand for healthy food items, household staples, and consumables with longer shelf live
  2. Traditional fish sauce is set to emerge as the fastest growing segment during the forecast period and are available in a combination of flavors, preservatives, fish essence, sweeteners, and coloring
  3. In terms of revenue, the restaurants application segment will lead the global market, exhibiting a staggering CAGR of 3.6% from 2019 to 2025. This is attributed to the increasing number of food chains and rising popularity of dining in
  4. North America is projected to account for the highest revenue share as there is an exponential market product demand from cafes and restaurants. The Central & South America market is projected to expand at the fastest CAGR of 3.8% by 2025

Some of the key companies in the market are Teo Tak Seng Fish-Sauce Factory Co. Ltd., Pichai Fish Sauce Co., Masan Consumer Corp., Rayong Fish Sauce Industry Co. Ltd., Shantou Fish Sauce Factory Co., Tang Sang Hah Co. Ltd., Thai Fishsauce Factory (Squid Brand) Co. Ltd., Fish Sauce Co. Ltd., Halcyon Proteins Pty. Ltd., and Hung Thanh Co. Ltd.

These companies have undertaken several marketing strategies, such as M&A and new product development, to expand their geographical reach. For instance, in October 2016, Masan Consumer Corporation introduced new Vietnamese fish sauce to the Thai market. Apart from product innovation, manufactures are also focusing on packaging as it plays a vital role in retaining the product quality, nutritional value, color, texture, taste, and shelf life.

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Fish Sauce Market Segmentation

Grand View Research has segmented the global fish sauce market on the basis of product type, application, and region:

Fish Sauce Product Type Outlook (Revenue, USD Billion, 2015 - 2025)

  • Traditional
  • Industrial

Fish Sauce Application Outlook (Revenue, USD Billion, 2015 - 2025)

  • Domestic/Household
  • Foodservice Industry
  • Restaurants

Fish Sauce Regional Outlook (Revenue, USD Billion, 2015 - 2025)

  • North America

o    U.S.

  • Europe

o    U.K.

o    Germany

  • Asia Pacific

o    Japan

o    China

  • Central & South America

o    Brazil

  • Middle East & Africa

o    South Africa

List of Key Players of Fish Sauce Market

  1. Teo Tak Seng Fish-Sauce Factory Co. Ltd.
  2. Pichai Fish Sauce Co.
  3. Masan Consumer Corp.
  4. Rayong Fish Sauce Industry Co. Ltd.
  5. Shantou Fish Sauce Factory Co.
  6. Tang Sang Hah Co. Ltd.
  7. Thai Fishsauce Factory (Squid Brand) Co. Ltd.
  8. Fish Sauce Co. Ltd.
  9. Halcyon Proteins Pty. Ltd.
  10. Hung Thanh Co. Ltd.

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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Mrudula Anil Karmarkar

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Mrudula Anil Karmarkar
Joined: July 2nd, 2020
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