What Is The Growth Outlook For Global Fish Sauce Market?
The globally popular fish sauce market size has grown robustly in recent years. Bolstered by culinary diversity, globalization of cuisines, changing dietary preferences, and cultural influences among others, the market will surge from $18.47 billion in 2024 to $19.8 billion by 2025, progressing at an impressive compound annual growth rate (CAGR) of 7.2%.
An intensified exploration of world cuisine, health-conscious dietary choices, global fusion cuisine trends, and market expansion will steer a strong growth in the forecast period, catapulting the market to $25.51 billion by 2029 at a CAGR of 6.5%. Packaging innovations, rise in demand for specialty brands, fusion flavors, and globalizing fish sauce brands are among the key trends to watch.
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What Are The Factors Propelling The Fish Sauce Market?
The increasing seafood consumption is fueling the fish sauce market’s growth as seafood’s distinct flavors and textures have been enticing the global populace. The demand for fish sauce, a staple in several popular seafood dishes, is surging thanks to the intensifying acquaintance with its distinct taste. Data from the National Oceanic Atmospheric Administration (NOAA) indicated that 70-85% of seafood consumed in the United States came from imported products in 2022. Added to this, Statistics Iceland reported a rise of 14,000 tons in fish catch over June 2021 with a total of nearly 35,000 tons caught in June 2022. These dynamics underline the market’s strong growth rationale.
What Are The Key Segments Within The Global Fish Sauce Market?
– By Product Type: Korean Fish Sauce, Japanese Fish Sauce, Southeast Asian Fish Sauce, Western Fish Sauce
– By Flavor: Plain, Spiced
– By Price: Basic, Premium
– By Distribution Channel: Supermarket and Hypermarket, Convenience Stores, Specialty Stores, Online Retailers
– By Application: Domestic Use, Restaurants, Food Industries
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Which Key Companies Are Leading In The Fish Sauce Market?
Leaders 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 Emerging Trends In The Fish Sauce Market?
Product innovation marking a significant trend in the fish sauce market is breathed life by the introduction of fish sauces developed through modern production techniques and high-quality ingredients. For instance, in January 2022, UK-based Sozye launched its plant-based fish sauces – nish, noyster, and noya – a move that is both eco-friendly and caters to non-traditional dishes.
Which Region Is Leading The Charge In The Fish Sauce Market?
North America, the largest region in the fish sauce market in 2024, is leading the pack. The report covers Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Fish Sauce Market Report 2025 Offer?
The Fish Sauce Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities. Fish sauce is a sought-after flavoring made from fermented fish in salt over several months creating a spicy, flavorful, and salty condiment. It heightens the complexity and depth of various dishes serving as a key flavoring agent to define the market.
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