Press release
Fish Sauce Market Outlook 2024: Exclusive Report By The Business Research Company
Fish Sauce Market
The Business Research Company offers in-depth market insights through Fish Sauce Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The fish sauce market size has grown strongly in recent years. It will grow from $17.18 billion in 2023 to $18.47 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to culinary diversity, globalization of cuisines, changing dietary preferences, cultural influences, increased consumer awareness..
The fish sauce market size is expected to see strong growth in the next few years. It will grow to $23.78 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to continued culinary exploration, health consciousness, global fusion cuisine trends, rising interest in umami flavors, expansion into new markets.. Major trends in the forecast period include expansion of fish sauce application in culinary arts, packaging innovations for convenience, rise in demand for premium and specialty brands, exploration of fusion flavors and blends, increased awareness of health benefits, globalization of fish sauce brands..
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Market Segmentation:
The fish sauce market covered in this report is segmented -
1) By Product Type: Korean Fish Sauce, Japanese Fish Sauce, Southeast Asian Fish Sauce, Western Fish Sauce
2) By Flavour: Plain, Spiced
3) By Price: Basic, Premium
4) By Distribution Channel: Supermarket And Hypermarket, Convenience Stores, Specialty Stores, Online Retailers
5) By Application: Domestic Use, Restaurants, Food Industries
Major Driver - Growing Seafood Consumption Propels The Fish Sauce Market
The increasing seafood consumption is expected to propel the fish sauce market going forward. Seafood is a rich source of protein and minerals. It is also a well-known international food popular for its distinct flavors and textures. Several popular seafood dishes include fish sauce. Fish sauce demand is increasing as more people become acquainted with the taste and include it in their seafood preparation. For instance, in 2021, as per the Food and Agriculture Organization, an Italy-based international organization, global fish consumption is expected to rise by 16.3% by 2029, reaching 180 Mt. Additionally, in July 2022, as per Statistics Iceland, an Iceland-based government agency, the overall fish catch in June 2022 was nearly 35,000 tons, a 14 thousand tons rise over June 2021. Therefore, the increasing seafood consumption will drive the fish sauce market.
Competitive Landscape:
Major companies operating in the fish sauce market report are Tang Sang Hah Co. Ltd., Masan Group, Thai Preeda Co. Ltd., Shantou Haimao Foodstuff Factory Limited Company, Teo Tak Seng Fish-Sauce Factory Co. Ltd, Thai Fishsauce Factory Squid Brand Co Ltd, Rayong Fish Sauce Industry Co. Ltd, Pichai Fish Sauce Co. Ltd, Halcyon Proteins PTY Ltd, Hung Thanh Co. Ltd., Unilever PLC, Nestle S.A., Louisiana Fish Fry, Pantainorasingh Manufacturer Co. Ltd., Phu Nhi, Thanh Hung Co. Ltd, Viet Phu Inc., Shantou Fish Sauce Factory Co. Ltd., Aguacates Seleccionados JBR, Henry Avocado Corporation, Del Rey Avocado Co. Inc., Mission Produce, Calavo Growers., Westfalia Fruit, Costa Group Holdings Ltd., Camposol., West Pak Avocado Inc., Grupo Hame .
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Top Trend - Modern Fish Sauce Varieties Transform Culinary Landscape
Product innovation is a popular trend in the fish sauce market. Innovations such as modern conventional fish sauces are being introduced using modern production methods and high-quality ingredients. It has helped to popularize the use of fish sauce in non-traditional dishes and cuisines. For instance, in January 2022, Sozye, a UK-based sauce maker company, introduced its plant-based fish sauces named as nish, noyster, and noya. These sauces are environmentally friendly and suitable for non-traditional dishes.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Fish Sauce Market Characteristics
3. Fish Sauce Market Trends And Strategies
4. Fish Sauce Market - Macro Economic Scenario
5. Fish Sauce Market Size And Growth
…..
27. Fish Sauce Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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