Fish Sauce Market Size, Share & Trends Analysis Report By Type (Traditional, Industrial), By Grade (Premium, Standard), By Distribution Channel (Food Service, Retail), By Region, And Segment Forecasts, 2024 - 2030

Fish Sauce Market Size & Trends

The global fish sauce market size was valued at USD 2.07 billion in 2023 and is projected to grow at a CAGR of 5.1% from 2024 to 2030. Fish sauce contains essential nutrients such as omega-3 fatty acids, vitamins A and D, and minerals such as iodine. As more people become aware of the health benefits of seafood consumption, they opt for fish-based products over traditional meat options. This shift towards healthier dietary choices has bolstered the demand for fish sauce as a nutritious condiment that enhances flavor and health benefits.

Fish sauce, known for its unique umami flavor, is a staple in many Asian cuisines and is increasingly adopted in Western cooking. As consumers seek to enhance the taste of their dishes, fish sauce has gained popularity due to its ability to add depth and complexity to various recipes. This trend is further fueled by the growing interest in ethnic and international cuisines, which often incorporate fish sauce as a key ingredient.

With an increasing number of restaurants, cafes, and food trucks offering diverse menus that feature Asian-inspired dishes, there is a heightened demand for authentic ingredients such as fish sauce. Establishments that provide unique culinary experiences are more likely to use high-quality fish sauces to differentiate their offerings from competitors. This trend boosts sales within the food service sector and encourages consumers to purchase fish sauce for home cooking.

Gourmet and artisanal food movements often highlight the importance of high-quality, authentic ingredients. Fish sauce, especially premium varieties, fits well within this trend due to its complex flavor profile and traditional production methods. As gourmet and specialty food stores increase, they provide a platform for fish sauce to reach discerning consumers willing to invest in high-quality culinary products.

Type Insights

The industrial segment dominated the market and accounted for a market revenue share of 67.7% in 2023. With the expansion and diversification of the global food industry, manufacturers are increasingly integrating fish sauce into a wide array of products, including ready-to-eat meals, snacks, and sauces. This shift is primarily fueled by the escalating consumer demand for authentic and intricate flavors, which fish sauce is well-equipped to deliver. The adaptability of fish sauce in enriching the taste profile of various products renders it a compelling ingredient for industrial applications.

The traditional segment is expected to register the fastest CAGR of 5.7% during the forecast period. As more home cooks and professional chefs experiment with diverse cuisines and seek to recreate authentic dishes, traditional fish sauces are valued for their ability to deliver complex, authentic flavors. This trend has led to a greater appreciation for traditional fish sauces as essential in achieving the depth and richness of flavors in traditional recipes. Consequently, demand for these sauces has increased in home kitchens and high-end restaurants.

Grade Insights

Standard grade accounted for the largest market revenue share in 2023. Standard grade fish sauces offer a balanced blend of cost-effectiveness and quality, making them efficient for consumers and food service providers seeking value for their investment. As cost-conscious consumers and businesses search for dependable and economical flavoring options, the standard-grade segment satisfactorily fulfills these requirements.

Premium grade is expected to register the fastest CAGR during the forecast period. Amid the progression of culinary trends and the exploration of complex cooking techniques, there has been an increasing acknowledgment of the value of high-quality fish sauces. These sauces are prized for their intricate flavor profiles and exceptional depth, appealing to professional chefs and home cooks committed to investing in superior ingredients to elevate the caliber of their dishes.

Distribution Channel Insights

Retail accounted for the largest market revenue share in 2023. Consumers are increasingly seeking convenience in their grocery shopping, which has led to expanding retail formats such as supermarkets, hypermarkets, and convenience stores. These retail channels offer a wide range of products, including fish sauce, making it more accessible to consumers who prioritize convenience and efficiency in their shopping routines.

Food service is expected to register the fastest CAGR during the forecast period. As the number of dining establishments and commercial kitchens increases, so does the demand for diverse and high-quality ingredients, including fish sauce. Food service providers seek to enhance their menu offerings with unique and authentic flavors, making fish sauce an appealing option for adding depth and complexity to various dishes.

Regional Insights

North America fish sauce market held a significant market revenue share in 2023. As North American consumers become more adventurous in their culinary choices, they increasingly explore and incorporate diverse flavors into their cooking. Fish sauce, a staple ingredient in many Asian dishes, is gaining popularity to add depth and complexity to home-cooked meals, which fuels demand in the region.

U.S. Fish Sauce Market Trends

The U.S. fish sauce market is expected to grow significantly over the forecast period. As more individuals experiment with cooking and seek to recreate authentic international dishes at home in the country, fish sauce has become essential for achieving depth and complexity in flavor. Influential chefs and food bloggers often highlight fish sauce in recipes and cooking tutorials, which help to educate consumers about its uses and benefits, further fueling its popularity and market growth.

Europe Fish Sauce Market Trends

Europe fish sauce market is anticipated to register the fastest CAGR over the forecast period. As European consumers become more adventurous in their culinary choices, they incorporate more diverse and exotic ingredients. Fish sauce, a staple in many Southeast Asian dishes, is seeing rising demand as it adds a unique umami flavor to traditional and fusion recipes. This trend is fueled by a growing interest in global gastronomy and an expanding range of ethnic restaurants and food products available in Europe.

The fish sauce market in UK is expected to grow rapidly in the coming years. The growing presence of restaurants such as “Dishoom”, which offers Indian-inspired dishes with a focus on authentic ingredients, and Busaba, known for its Thai cuisine, has helped familiarize British diners with the use of fish sauce. This increased exposure to Asian dishes has led to a higher demand for fish sauce in dining establishments and home kitchens as consumers seek to replicate their favorite dishes.

Asia Pacific Fish Sauce Market Trends

Asia Pacific fish sauce market accounted for the largest market revenue share of 58.9% in 2023. As culinary trends evolve, there is an increasing interest in traditional flavors that enhance the taste of various dishes. Fish sauce is a staple ingredient in many Asian cuisines, including Vietnamese, Thai, and Filipino dishes. The rise of food blogs, cooking shows, and social media platforms has further fueled this trend by showcasing recipes that incorporate fish sauce as a key ingredient. Consequently, restaurants and home cooks turn to fish sauce to create authentic flavors that resonate with consumers seeking genuine culinary experiences.

Thailand fish sauce market is anticipated to grow rapidly over the forecast period. Fish sauce, known locally as "nam pla," is a staple ingredient in numerous traditional Thai dishes such as pad Thai, tom yum soup, and som tam. The deep-rooted culinary tradition and the ubiquitous use of fish sauce in everyday cooking ensure a steady and strong demand. Renowned dishes like "som tam" (spicy green papaya salad) rely heavily on fish sauce for their signature flavor, maintaining its essential role in Thai kitchens. Fish sauce, a product of natural fermentation, is valued for its probiotic content and rich umami flavor, aligning with health-conscious trends. Brands are responding to this demand by emphasizing their products' natural and healthful aspects. For instance, in July 2023, Squidbrand, a Thai fish sauce company, introduced two new products, Mala Spicy Fish Sauce and Truffle Fish Sauce. Both products are gluten-free and do not contain artificial colors or preservatives.

Key Fish Sauce Company Insights

Some of the key companies in the fish sauce market include Squidbrand, Masan Consumer Corporation, and others.

• Masan Consumer Corporation offfers a diversified product line to cater to varying consumer preferences and modern culinary trends. The company offers several variations of fish sauce, including those with added flavors such as chili or lime, appealing to younger consumers looking for convenience without compromising taste.

• Squidbrand offers a range of fish sauce products characterized by their rich umami flavor and robust quality. The company's flagship product, the Squidbrand Fish Sauce, is made from naturally fermented fish, ensuring an authentic taste highly valued by chefs and home cooks. The company's fish sauces come in various sizes and packaging options designed to meet the needs of diverse consumers and culinary applications.

Recent Developments

• In May 2023, Viet Phu Inc. launched a new fish sauce product called Kho Sauce. This innovative sauce aims to bring the rich flavors of traditional Vietnamese cuisine into consumers' homes, allowing them to prepare dishes in 30 minutes or less. Made from fermented fish, typically anchovies and salt, this condiment is integral for flavoring and its cultural significance.

• In May 2023, Masan Consumer Corporation expanded the Chin-su brand globally by unveiling the Chin-su Pho and Spices Collection at Seoul Food 2023. The Chin-su fish sauce is crafted using high-quality ingredients and traditional fermentation methods, ensuring it retains its distinctive taste and is popular among consumers domestically and internationally

Fish Sauce Market Report Scope

Global Fish Sauce Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global fish sauce market report based on type, grade, distribution channel, and region.

• Type Outlook (Revenue, USD Million, 2018 - 2030)

  • Traditional

  • Industrial

• Grade Outlook (Revenue, USD Million, 2018 - 2030)

  • Premium

  • Standard

• Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)

  • Food Service

    • Supermarkets & Hypermarkets

    • Convenience Stores

    • Online

    • Others

  • Retail

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • Japan

    • India

    • Australia

    • Thailand

    • Vietnam

    • Philippines

  • Latin America

    • Brazil

  • Middle East and Africa (MEA)

    • South Africa