Fish Sauce Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Fish Sauce by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Fish Sauce, 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..

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.

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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

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 fish sauce market report table of contents includes: