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Fish Sauce Market Trends

Report ID: GMI11430
Published Date: Sep 2024
Report Format: PDF

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Fish Sauce Market Trends

Currently, the fish sauce industry is trending towards increased consumer demand for authentic Asian flavors and premium products, with a focus on artisanal and traditional production methods. Health-conscious trends are driving interest in low-sodium and organic fish sauce options. Looking ahead, the market is expected to see growth in innovative flavors and blends, catering to diverse culinary preferences.

The rise of e-commerce and online retail is set to expand market reach, while sustainability and eco-friendly packaging will become more prominent. Additionally, there will likely be an emphasis on transparent sourcing and production practices to appeal to increasingly informed consumers.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size of fish sauce reached USD 17.8 billion in 2023 to USD 28.49 billion by 2032, registering a compound annual growth rate (CAGR) of 5.8% from 2024 to 2032. This growth is driven by increasing demand in both food service and household segments.

The Asia-Pacific region dominates the market, with projections indicating it will reach USD 19.42 billion by 2032, growing at a CAGR of 5.9%. This dominance is due to the rich culinary traditions in countries like Thailand and Vietnam, where fish sauce is a staple ingredient.

The food service sector is projected to expand to USD 16.45 billion by 2032 with a CAGR of 5.9%. Restaurants, catering services, and food chains widely use fish sauce to enhance flavor profiles, driving demand for bulk purchases.

Top companies operating in the industry include Squid Brand, Rayong Fish Sauce, Hung Thanh, TANG SANG HA CO. Ltd, Red Boat, Pichai Fish Sauce, Nestle, Halcyon Proteins, Thai Preeda Group, Teo Tak Seng Fish Sauce Factory Co., Ltd., and Masan Consumer Corporation.