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Fish Sauce Market Size, Share & Industry Analysis, By Type (Traditional, Industrial), By Nature (Basic, Premium), By End-use (B2B, B2C) and regional Forecast, 2024-2032

Region :Global | Report ID: FBI103815 | Status : Ongoing



The global fish sauce market is driven by the increasing popularity of fish sauce due to its unique flavor and taste. Increasing consumer’s inclination towards seasonings to enhance the flavor of the traditional dishes is expected to boost the market size in the forthcoming years. The rising awareness regarding the health benefits of fish sauces is predicted to positively impact market growth.

The prominent players in the market are embarking on the launch of new traditional fish sauces in salt-free and preservative-free variants. With the increasing incidences of high blood pressure, diabetes, and various disease consumers prefer to buy clean-label and traditional fish sauce, which is predicted to force the manufacturers to launch a healthier version of fish sauces.

The on-going research regarding the production of fortified fish sauce is expected to positively impact the product growth in forthcoming years. For instance, the fortification of fish sauce with iron can help to significantly improve iron status and reduce anemia and iron deficiency. Moreover, flourishing retail shelves from the wide range of the product and attractive discounts offered by the big retail stores are predicted to positively leverage the sales of the product. In addition, increasing demand for fish sauce from HoReCa sector is predicted to further propel the market growth. Moreover, fish sauce is one the essential element in the many traditional cuisines such as Japanese and Korean cuisine, hence, the increasing popularity of these cuisines worldwide is anticipated to boost the market share of the product.

The easy availability of substitute products such as soy sauce, oyster sauce, & others and rising vegetarian or vegan population are predicted to hamper the market growth.

Key Market Driver -

On-going Research and Development for the Production of Healthier Fish Sauces

Key Market Restraint -

Availability of Substitute

Key Players Covered:

The prominent players operating in the global fish sauce market are Red Boat Fish Sauce, Masan Group, Thai Fishsauce Factory (Squid Brand) Co. Ltd., Tang Sang Ha Company Limited, TeoTak Sauce Factory Co., Pichai Fish Sauce Co. Ltd., Unilever Food Solutions, Rungroj Fish Sauce Co., Halcyon Proteins, Thaipreeda Group, and Others.

Traditional fish sauces are predicted to hold a considerable share in the market. The increasing popularity of Japanese and Korean cuisine across the globe is predicted to increase the demand for traditional Japanese and Korean fish sauces in forthcoming years. Consumers are more inclined towards the authentic taste and flavor of the cuisine which is predicted to positively impact the sales of traditional fish sauces.

Basic fish sauces are anticipated to hold a significant share in the market. Increasing utilization of basic fish sauces from the HoReCa sector due to its comparatively low price is predicted to boost the segment’s share. Moreover, rising health consciousness among consumers, intensifying research on the premiumization of the traditional fish sauces are expected to positively impact the growth of the premium category of fish sauce. B2B segment of fish sauce is expected to grow at a healthier pace in the forthcoming years. The intensifying demand for fish sauces from the HoReCa sector is expected to be a major reason for segment growth. Furthermore, the ever-growing demand for an easy solution for meal preparation and increasing inclination towards home-cooked food are predicted to boost the B2C segment share.

Regional Analysis:

Asia Pacific fish sauce market is driven by the presence of countries such as Indonesia, Japan, South Korea, and Vietnam. Fish sauce is one of the popular and staple ingredients available in their traditional cuisines, which is projected to positively impact product growth. The growing popularity of ethnic and traditional cuisines across Asia Pacific is projected to be a favorable factor for product growth.

North America is anticipated to grow at a considerable pace in the global market. The flourishing HoReCa sector within the region, rising popularity of ethnic cuisine among the consumers are predicted to positively leverage the sales growth. The prominent players in the global fish sauce market are expanding their distribution network in the U.S. and Canada to increase their consumer base, which is expected to positively influence the market growth during the forecast period.

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By Type

  • Traditional

  • Industrial

By Nature

  • Basic

  • Premium

By End-use

  • B2B

  • B2C

By Geography

  • North America (U.S., Canada, and Mexico)

  • Europe (Germany, France, Italy, Spain, U.K., Russia, and Rest of Europe)

  • Asia Pacific (China, India, Japan, Australia, and Rest of Asia Pacific)

  • South America (Brazil, Argentina, and Rest of South America)

  • Middle East & Africa (South Africa, UAE, and Rest of ME&A)

Key Industry Developments:

  • In July 2018, Nestle Vietnam announced the launch of its first ever Maggi fish sauce. The product is made from natural ingredients like Phu Quoc black anchovy essence and Ba Ria sea salt and are free of preservatives

  • In October 2016, Masan Group and its strategic partner, the Thai conglomerate Singha Group introduced its new product, Chin-Su Yod Thong fish sauce, in Thailand market.

  • Ongoing
  • 2023
  • 2019-2022

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