Fish Sauce Market is Anticipated to Witness Significant Growth of US$ 19.50 billion by 2025

Mar 08, 2021: Market Snapshot:

The global Fish Sauce Market scope was projected at US$ 15.32 billion in 2018. It is expected to reach US$ 19.50 billion by 2025 with a CAGR of 3.51% during the forecast period. This could be attributed to an extensive demand for fish sauce in the form of condiment in various cuisines. Industry manufacturing on the part of fish sauce implies combining fish essence, coloring, preservatives, flavoring, and sweeteners. Vietnam is the largest consumer of fish sauce due to the fact that the Vietnamese believe in nutritional value of conventionally made fish sauces. These sauces are reported to have nitrogen at the highest level. The second largest consumer of fish sauce is China. It is an ingredient for soups and casseroles in Southern China.

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Market Segmentation:

The fish sauce market is segmented on the basis of product, application, distribution channel, price, and geography. By product, the segmentation goes like Southeast Asian, Japanese, Korean, and Western. By price, the market says premium and basic. By application, the fish sauce industry spans domestic use, food industries, restaurants, and others. By distribution channel, it comprises indirect sales and direct sales. Indirect sales could be further segmented into wholesalers, specialty stores, supermarket, hypermarket, online retailers, convenience stores, and others. By geography, it constitutes Asia Pacific, MEA, LATAM, Europe, and North America.

Regional Insights:

Asia Pacific dominates the market due to the reasons mentioned above. Besides, rise in disposable income coupled with urbanization catalyzes the market. In North America, the U.S. is the major contributor. Europe is witnessing growth in demand for dietary supplements and functional foods. This factor is expected to hold the hopes strong for Europe.

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Players:

The players contributing to the fish sauce market include Teo Tak Seng Fish-Sauce Factory Co. Ltd., Rungroj Fish Sauce Co. Ltd., Thaipreeda Group, TANG SANG HAH Co. Ltd., Fish Marine Resources Development Co. Ltd., Viet Phu, Inc., Rayong Fish Sauce Industry Co. Ltd., Pichai Fish Sauce Co. Ltd. and Halcyon Proteins Pty. Ltd.

Market Segment:

Fish Sauce Product Type Outlook (Revenue, USD Billion, 2015 - 2025)

    • Traditional

    • Industrial

Fish Sauce Application Outlook (Revenue, USD Billion, 2015 - 2025)

    • Domestic/Household

    • Foodservice Industry

    • Restaurants

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