Fish Sauce Market To Reach $2.92 Billion By 2030 | CAGR 5.1%

Fish Sauce Market Growth & Trends

The global fish sauce market size is expected to reach USD 2.92 billion by 2030 registering a CAGR of 5.1% from 2024 to 2030, according to a new report by Grand View Research, Inc. Fish sauce contains numerous vital nutrients and minerals including iodine and vitamins A & D. Rising cases of thyroid problems and related diseases have led to an increased demand across the globe, thereby augmenting market growth.

Fish sauce is widely used as a substitute for soy sauce in many countries as it has a numerous health benefits. It is also used as an ingredient for casseroles and soups, which is propelling its demand further. In addition, manufacturers are using natural fermentation processes by using anchovies and sea salt to retain the product’s nutritional value. This is likely to contribute to the market growth.

Fish sauce is a staple ingredient in many cuisines, which is also expected to spur the demand in future. Moreover, print and media advertisements have played a big role in creating awareness about the product, thereby supporting the overall market growth. U.S. being the largest consumer, Asia Pacific is expected to be the dominant regional market over the forecast period. The Europe fish sauce market is anticipated to register the fastest CAGR over the forecast period

Some of the key companies in the global market are Teo Tak Seng Fish-Sauce Factory Co. Ltd, Pichai Fish Sauce Co., Masan Consumer Corporation, Rayong Fish Sauce Industry Co., Ltd., Shantou Fish Sauce Factory Co., TANG SANG HAH CO., Ltd., Thai Fishsauce Factory (Squid Brand) Co. Ltd., Fish Sauce Co., Ltd., Halcyon Proteins Pty. Ltd., and Hung Thanh Co. Ltd.

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Fish Sauce Market Report Highlights

• Traditional fish sauce is projected to be the fastest-growing, as well as the largest, product type segment over the forecast years

• The industrial segment dominated the market and accounted for a market revenue share of 67.7% in 2023

• Asia Pacific fish sauce market accounted for the largest market revenue share of 58.9% in 2023

• Key companies in the market focus on new product development and capacity and portfolio expansion to estimate existing and future demand patterns from upcoming application segments

Fish Sauce Market Segmentation

Grand View Research has segmented the global fish sauce market report based on type, grade, distribution channel, and region

Fish Sauce Type Outlook (Revenue, USD Million, 2018 - 2030)

• Traditional

• Industrial

Fish Sauce Grade Outlook (Revenue, USD Million, 2018 - 2030)

• Premium

• Standard

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

• Food Service

  • Supermarkets & Hypermarkets

  • Convenience Stores

  • Online

  • Others

• Retail

Fish Sauce 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

List of Key Players of Fish Sauce Market

• Squidbrand

• Masan Consumer Corporation

• Viet Phu Inc.

• Rayong Fish Sauce Industry Co., Ltd.

• Marine Resources Development Co.,Ltd.

• Pichai Fish-Sauce Co.,Ltd.

• THAIPREEDA GROUP

• Rungroj Fish Sauce Co., Ltd.

• PHETDAMFOODS CO.,LTD

• Halcyon Proteins Pty Ltd