Fish Sauce Market (New Insights Report) Size to Surpass $ 22.7 Billion by 2030 which is Globally Booming with Strong Growth | Zion Market Research

SAN FRANCISCO, U.S., Aug. 08, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Fish Sauce Market By Product Type (Industrial And Traditional), By Composition (Mass And Premium), By End-User (Food Manufacturers, Retail And Food Service), By Distribution Channel (Supermarkets And Hypermarkets, Convenience Stores, Specialty Stores, Online Stores And Others) And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.

“According to the latest research study, the demand of global fish sauce market size was worth at around USD 16.5 billion in 2022. The market is expected to grow above a CAGR of 4.1% and is anticipated to reach over USD 22.7 billion by 2030.”

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Fish Sauce Market Overview:

Fish that has been salted and fermented produces an amber-colored liquid known as fish sauce. It is utilized as a condiment in a variety of foods. In numerous Asian cultures, fish sauce is a fundamental ingredient. It is used extensively in Filipino, Cambodian, Thai, Vietnamese, and Laotian cuisines. It is an essential element of Thai cuisine. Sugars, preservatives, fish essence, coloring, and flavoring are among the constituents used in their production. As a result of its higher nitrogen content, fish sauce is more nutritious and healthful. In Western cuisine, they are employed as salt, whereas in Chinese cuisine, they are employed as soy sauce.

Report Scope:

Key Insights from Primary Research

• The worldwide fish sauce market is being driven by Southeast Asian nations' substantial demand as well as an increase in demand for fortified fish sauce.
• Based on the product type, the traditional segment is expected to dominate the market over the forecast period.
• Based on the distribution channel, supermarkets & hypermarkets are expected to capture a significant market share over the forecast period.
• Based on region, the Asia Pacific is expected to hold the largest market share over the forecast period.

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Market Dynamics: Growth Drivers

• The market is driven by the rising demand for fish condiments as seasonings and their health benefits

Fish sauce is used as a seasoning and has gained popularity as a table condiment in many parts of the globe. The global fish sauce market is expanding due to the health benefits of non-vegetarian diets and the availability of traditional fish sauces in a variety of packaging, flavours, and price ranges to accommodate diverse preferences throughout the world. In addition, the minerals in fish and fish condiments are extremely healthy for humans. Due to the profusion of minerals in fish, including omega-3, vitamin D, and vitamin B2, consumers are substituting fish meat for chicken and red meat. Consequently, manufacturers have introduced a number of prepackaged, ready-to-use fish gravies.

Restraints

• Strict regulations restrict market expansion.

Different nations have various laws and regulations. Food and Drug Administration (FDA) and United States Department of Agriculture (USDA) regulations must be followed by all sauces sold in the United States. According to European Union (EU) regulations, sellers must list all allergenic ingredients in the sauce products they sell. When one of the fourteen allergens on the EU's list is used in a food product, it must be disclosed on the label. The Derbyshire County Council states that all component names in condiments sold by caterers must be accurate, and labels must identify any substances that have been subjected to radiation or genetic modification. This is expected to hinder the development of the fish sauce market over the forecast period.

Fish Sauce Market: Segmentation Analysis

The global Fish Sauce industry is segmented based on product type, composition, end user, distribution channel, and region.

Based on the product type, the global market is bifurcated into industrial and traditional. The traditional segment is expected to dominate the market over the forecast period. Based on the composition, the global fish sauce industry is divided into mass and premium. Based on the end user, the global fish sauce market is divided into food manufacturers, retail, and food service.

Based on distribution channel, the market is segmented into supermarkets & hypermarkets, convenience stores, specialty stores, online stores, and others. Supermarkets and hypermarkets are expected to capture a significant market share over the forecast period. Fish sauces are being offered at supermarkets and hypermarkets due to the population's growing need for convenience.

Browse the full “Fish Sauce Market By Product Type (Industrial And Traditional), By Composition (Mass And Premium), By End-User (Food Manufacturers, Retail And Food Service), By Distribution Channel (Supermarkets And Hypermarkets, Convenience Stores, Specialty Stores, Online Stores And Others) And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” Report at https://www.zionmarketresearch.com/report/fish-sauce-market

Regional Analysis:

• Asia-Pacific is expected to hold the highest market share during the forecast period

Thailand, Vietnam, and Singapore are the leading fish sauce exporters. Red Boat Fish Sauce, Squid, and Viet Phu Inc. are some of the area's most prominent brands. Due to the product's numerous health benefits and the fact that it enhances the flavor of food, consumer demand for fish sauce will continue to rise. Manufacturers create fish condiments by fermenting fish with natural ingredients such as salt and water in response to increasing consumer health concerns.

Fish and oyster condiments from Asia are in high demand and frequently used in stir-fries, curries, and soups with an Asian influence. Additionally, this region's expansion, fueled by swiftly increasing domestic income and wealth, has been accelerated by the presence of the world's largest fish producers, such as China, which is also the largest consumer of fish. Consequently, this is anticipated to stimulate the revenue expansion of the fish sauce market in the region.

Competitive Players:

The report contains qualitative and quantitative research on the global fish sauce market, as well as detailed insights and development strategies employed by the leading competitors. Some of the main players in the global fish sauce market include;      

• Teo Tak Seng Fish Sauce Factory Co. Ltd.
• TANG SANG HA CO. Ltd
• ThaiPreeda Group
• Masan Group
• Shantou Haimao Foodstuff Factory Co. Ltd.
• Thai Fish sauce Factory (Squid Brand) Company Limited
• Rayong Fish Sauce Industry Co. Ltd
• Pichai Fish Sauce Co. Ltd
• Halcyon Proteins
• Hung Thanh Co. Ltd.

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The global fish sauce market is segmented as follows:

By Product Type

• Industrial
• Traditional

By Composition

• Mass
• Premium

By End User

• Food Manufacturers
• Retail
• Food Service

By Distribution Channel

• Supermarkets and Hypermarkets
• Convenience Stores
• Specialty Stores
• Online Stores
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Southeast Asia
  • Rest of Southeast Asia
• The Middle East & Africa
  • GCC
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

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Key questions answered in this report:

• What is the market size and growth rate forecast for Fish Sauce industry?
• What are the main driving factors propelling the Fish Sauce Market forward?
• What are the leading companies in the Fish Sauce Industry?
• What segments does the Fish Sauce Market cover?

• How can I receive a free copy of the Fish Sauce Market sample report and company profiles?

Key Offerings:

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market

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