Fish Sauce Market: Basic fish Sauce to Account for More Than Half of the Revenue Share || Key Players: hai Fishsauce Factory (Squid Brand) Company Limited, Pichai Fish Sauce Co., Ltd, Rayong Fish Sauce Industry Co., Ltd, and Halcyon Proteins Pty., Ltd.

 According to a study by Fact.MR, the global fish sauce market is expected to experience steady growth. The market is estimated to register 5.0% CAGR during the forecast period from 2017 to 2022. Owing to the health benefits and various nutrients offered by the fish sauce, increasing number of people are using fish sauce while preparing various dishes and as a dip. Manufacturers are also producing fish sauce by using more natural way for fermenting fish instead of the chemical fermentation process to maintain the levels of nutrients and vitamins. Below are the insights on how the global fish sauce market will perform in the next five years.

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To improve the flavor of the food, people are replacing soy sauce with fish sauce. Manufacturers are also making a fish sauce that leads to reduced sodium intake, thereby offering the healthy product. Moreover, shifting trend towards natural food products is also resulting in the growth of the customers opting for the quality product that has been made using the natural process of fermentation without adding any chemicals. Also, a fish sauce made using natural process last for a long time.

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Plain Fish Sauce- Highly Preferred Flavor

Compared to the spiced fish sauce, the plain fish sauce is likely to gain maximum revenue share by 2017 end. The plain fish sauce is projected to exceed US$ 800 million revenue towards 2022 end. On the other hand, the spiced fish sauce is also likely to experience moderate growth throughout the forecast period.

Industrial Method to Gain Maximum Revenue Share

Industrial method is likely to be one of the most preferred methods for producing a fish sauce. Industrial method is projected to create more than US$ 200 million incremental opportunity during 2017-2022.

Highest Distribution through Modern Trade Channel

Among various distribution channels in the global fish sauce market, modern trade is likely to be the biggest distribution channel during 2017-2022. By 2022 end, modern trade is projected to exceed US$ 400 million revenue.

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The report has also profiled leading players in the global market for fish sauce, which will remain active through 2022. These include companies such as Masan Consumer Corporation, TANG SANG HAH CO., Ltd, Thai Preeda Group, Teo Tak Seng Fish-Sauce Factory Co. Ltd, Shantou Fish Sauce Factory Co., Ltd, Hung Thanh Co.LTD, Thai Fishsauce Factory (Squid Brand) Company Limited, Pichai Fish Sauce Co., Ltd, Rayong Fish Sauce Industry Co., Ltd, and Halcyon Proteins Pty., Ltd.

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Europe is also expected to witness above-average growth in the fish sauce market. Europe fish sauce market is estimated to reach nearly US$ 300 million revenue by the end of 2022.

 

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This release was published on openPR.