NEW YORK, Nov. 17, 2023 /PRNewswire/ — The fish sauce market is expected to grow by USD 915.54 million from 2023 to 2028, according to Technavio. In addition, the growth momentum of the market will progress at a CAGR of 6.83% during the forecast period. Increasing preference for convenience in cooking is notably driving the fish sauce market. However, factors such as stringent regulations in the food industry may impede market growth. The market is segmented by product (industrial fish sauce and traditional fish sauce), distribution channel (offline and online), and geography (APAC, Europe, North America, Middle East and Africa, and South America).
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Key Segment Analysis
- The market share growth by the industrial fish sauce segment will be significant during the forecast period. Products of industrial fish sauces are those produced in large quantities at the factory. An additive that includes flavorings, preservatives, food coloring from fruits, and artificial sweeteners is used in the preparation of the fish sauce. The use of Industrial Fish sauce will also increase consumers’ preference for it compared to traditional fish sauces due to its convenience. Industrial fish sauce is not subject to mixing with vinegar, sugar, and water to be used as a dipping sauce, unlike the traditional fish sauce.
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Geographical Market Analysis
- APAC is estimated to contribute 86% to the growth of the global market during the forecast period. The largest countries in APAC that have huge potential for fish sauce markets are China, India, Japan, South Korea, Australia, Taiwan, New Zealand, Singapore, and Indonesia. The key drivers that are estimated to have an impact on the growth of the fish sauce market are increasing consumer disposable incomes and a growing number of organized retail outlets offering products.
Company Insights
The fish sauce market is fragmented, and the companies are deploying organic and inorganic growth strategies to compete in the market. The report analyzes the market’s competitive landscape and offers information on several market companies, including Blue Elephant International, California Fish Sauce, Halcyon Proteins Pty. Ltd., Marine Resources Development Co. Ltd., Nestle SA, Pantainorasingh Manufacturer Co. Ltd., Phu Nhi Fish Sauce, Phu Quoc Fish Sauce Manufacturer Hung Thanh, Pichai Fish Sauce Co. Ltd., Rayong Fish Sauce Industry Co. Ltd., Rungroj Fish Sauce Co. Ltd., Tang Sang Hah Co. Ltd., Teo Tak Seng Fish Sauce Factory Co. Ltd., Thai Fishsauce Factory Squid Brand Co. Ltd., Thai Preeda Trading Co. Ltd., Thaitan Foods International Co. Ltd., The Woks of Life LLC, Unilever PLC, Viet Huong Hong Kong, and Viet Phu Inc.
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The sauces market size is estimated to grow by USD 28,786.89 million at a CAGR of 5.41% between 2022 and 2027.
The Tapioca Market Size is projected to increase by 6,972.08 thousand tons at a CAGR of 1.88% from 2022 to 2027.
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Fish Sauce Market Scope |
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Report Coverage |
Details |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6.83% |
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Market growth 2024-2028 |
USD 915.54 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023 (%) |
6.19 |
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Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
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Performing market contribution |
APAC at 86% |
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Key countries |
Vietnam, Thailand, China, Japan, and South Korea |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Product
Market Segmentation by Distribution Channel
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
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Jesse Maida
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Email: [email protected]
Website: www.technavio.com
SOURCE Technavio
