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Surging Fish Sauce Market: Projected to Reach $25.51 Billion by 2029, Riding High on Culinary Diversity and Health Consciousness
Fish Sauce Market
What Is The Projected Market Size Of The Global Fish Sauce Market And Its Growth Rate?
The fish sauce market has witnessed a strong growth in recent years with trends expected to continue:
• The market is projected to grow from $18.47 billion in 2024 to $19.8 billion in 2025, marking a CAGR of 7.2%.
• By 2029, the market is expected to reach $25.51 billion at a compound annual growth rate (CAGR) of 6.5%.
• Factors such as culinary diversity, globalization of cuisines, changing dietary preferences, cultural influences, increased consumer awareness, and rising health consciousness are fuelling market growth.
What Is Driving The Growth In The Fish Sauce Market?
The surge in seafood consumption is a key driver for the fish sauce market. Seafood being a rich source of protein and minerals, and its growing popularity for its distinct flavors and textures has boosted the demand for fish sauce. For example, according to the National Oceanic Atmospheric Administration (NOAA), it is estimated that approximately 70-85% of all seafood consumed in the United States is sourced from imported products. Also, as per Statistics Iceland, the total fish catch in June 2022 was about 35,000 tons, a rise of 14 thousand tons over June 2021. Thus, the rise in seafood consumption is propelling the growth of the fish sauce market.
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Who Are the Key Players Driving Fish Sauce Market Growth?
Major participants in the fish sauce market include:
• 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.
• Rungroj Fish Sauce Co. Ltd.
• Cholimex Food Company
What Are The Key Trends In The Fish Sauce Market?
Major trends in the fish sauce market 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.
What Are The Segments Of The Global Fish Sauce Market?
The segments of the global fish sauce market are:
1) By Product Type: Korean Fish Sauce, Japanese Fish Sauce, Southeast Asian Fish Sauce, Western Fish Sauce
2) By Flavor: 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
Which Region Leads The Fish Sauce Market?
The largest region in the fish sauce market as of 2024 was North America. The regions covered in the fish sauce market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Fish Sauce Market Global Market Report?
- Market Size Analysis: Analyze the Fish Sauce Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Fish Sauce Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Fish Sauce Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Fish Sauce Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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