Fish Sauce Market Growth Worth $26.46 Billion By 2032 | CAGR: 4.5%

Fish Sauce Market Size Worth $26.46 Billion By 2032 | CAGR: 4.5%

The global fish sauce market size is expected to reach USD 26.46 billion by 2032, according to a new study by Polaris Market Research. The report “Fish Sauce Market Share, Size, Trends, Industry Analysis Report, By Product Type (Korean Fish Sauce, Japanese Fish Sauce, Southeast Asian Fish Sauce, Western Fish Sauce, and Others); By Distribution Channel; By Technology; By Flavor; By Vertical; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The market is being expanded by factors such as increasing demands for seasoning, expanding product offerings from fish sauce makers in various flavors and sizes, and increasing consumer knowledge of the health advantages of fish sauces. Many civilizations around the world have made seasoning a necessity on the dinner table. Fish sauce is among the condiments whose consumption is anticipated to increase over time. The main reason fueling the market expansion for fish sauce is the rising need for seasoning. Traditional items are now mostly replaced by industrially produced goods.

Furthermore, the rising demand for fortified fish sauce is also another factor bolstering market growth. One of the most popular and economical ways to maintain public health is to fortify staple meals and condiments with micronutrients. It promotes public health and raises people's awareness of it. Public health in the area is seriously threatened by micronutrient deficiencies, especially for young children, nursing mothers, and pregnant women. They are more likely to experience sickness and death, impairment to cognitive development, and other conditions that lower productivity at work.

Asian nations like Indonesia, China, and Thailand make commercial fish sauces that are iron-fortified to decrease feces. According to the bioavailability of minerals including vitamin A, iron, folic acid, and zinc, seasonings are superior sources to add micronutrients to dietary habits. Most people in Cambodia consume a lot of fish sauce. The Government of Cambodia has acknowledged food fortification's growing significance as one of the effective methods for enhancing the nutritional security of its people.

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Additionally, fish sauce demand is anticipated to rise as a result of the high nutritional value and growing non-vegetarian population. On the other side, the market growth for fish sauce is being hampered by the rising number of replacements for the condiment, the addition of preservatives and sweeteners, and the rising vegan population.

Fish Sauce Market Report Highlights

  • Restaurant segment is projected to grow at the highest growth rate over the study period, owing to its usage as a seasoned product to increase the food taste.
  • The traditional segment accounted for a significant global revenue share. Due to its use as a component in soups and casseroles in various regions, a traditional segment is anticipated to hold the biggest market share.
  • Asia-Pacific is expected to grow at a considerable CAGR over the projected period due to the expanding product popularity and the fact that it is an essential component of the majority of the cuisines in nations.
  • The global players include Fish Marine Resources Development, Halcyon Proteins Pty, Masan Group, Pichai Fish Sauce, Red Boat Fish Sauce, Sin Guo Co., Tang Sang Ha Company, Thai Fish sauce Factory (Squid Brand), Thaipreeda Group, Unilever plc, and Viet Phu.

Polaris Market Research has segmented the fish sauce market report based on product type, distribution channel, technology, flavor, vertical, and region:

Fish Sauce, Technology Outlook (Revenue - USD Billion, 2019 - 2032)

  • Traditional Method
  • Industrial Method

Fish Sauce, Distribution Channel Outlook (Revenue - USD Billion, 2019 - 2032)

  • Offline Sales Channel
    • Supermarkets/Hypermarkets
    • Convenience Stores
    • Specialty Retailers
    • Others
  • Online Retail Stores
    • Company Website
    • E-Commerce Platform

Fish Sauce, Product Type Outlook (Revenue - USD Billion, 2019 - 2032)

  • Korean Fish Sauce
  • Japanese Fish Sauce
  • Southeast Asian Fish Sauce
  • Western Fish Sauce
  • Others

Fish Sauce, Flavor Outlook (Revenue - USD Billion, 2019 - 2032)

  • Plain Fish Sauce
  • Spiced Fish Sauce

Fish Sauce, Vertical Outlook (Revenue - USD Billion, 2019 - 2032)

  • Food and Beverages
  • Household
  • Hotels and Restaurants
  • Others

   Fish Sauce, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Latin America
  • Argentina
  • Brazil
  • Mexico
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa