Market Snapshot
| Study Period: | 2016 - 2026 |
| Base Year: | 2020 |
| Fastest Growing Market: | North America |
| Largest Market: | Asia Pacific |
| CAGR: | 3.2 % |
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Market Overview
The global fish sauce market is expected to register a CAGR of 3.2%, during the forecast period (2021 - 2026).
The rise in demand for fortified fish sauce and significant demand from the Southeast Asian countries are driving the global fish sauce market.
The easy availability of other substitute sauces, coupled with the time and cost involved in the preparation of fish sauce, is the major challenge faced by the fish sauce market.
The distribution channels play a crucial role in the market, as fish sauce is exported from the Southeast Asian countries. A well-established distribution channel is required for the sales of these products.
The market witnesses a fierce competition among the existing brands, manufacturing traditional as well as industrial fish sauce.
Scope of the Report
The global fish sauce market is segmented by product type into industrial and traditional. By composition, the scope includes basic and premium. By the end-user, the scope includes food manufacturers, retail, and foodservice. By geography, the scope includes North America, Europe, Asia-Pacific and Rest of the World which includes South America, and Middle East & Africa.
| By Product Type | |
| Industrial | |
| Traditional |
| By Composition | |
| Basic | |
| Premium |
| By End-User | |
| Food Manufacturers | |
| Retail | |
| Food Service |
| By Geography | |||||||||
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Key Market Trends
Supermarkets/Hypermarkets Remain the Largest Distribution Channel
The increasing demand for convenience, among the population, has led to the availability of fish sauces in the supermarkets/hypermarkets. Modern trade channels have taken the front seats, resulting in the increasing market shares of the supermarkets and hypermarkets. The varied product options, provided under a single roof, have given this channel an added advantage. The fish sauce section at a supermarket in Saigon has various brands of fish sauce, on its shelves. Stores, like Whole Foods, do not offer Megachef, but they do have Red Boat, an excellent artisanal brand from Vietnam. Many convenience stores are available in Asian countries, thereby, making it easier for consumers to buy food products.
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North America is the Fastest Growing Market Segment
The major players in the United States fish sauce market are the international players from Thailand, Vietnam, and Singapore. Some of the major brands in the country are Red Boat Fish Sauce and Squid. The consumer demand for the fish sauce will continue to increase, due to the various health benefits offered by the product, and also because it boosts the taste of the food. Due to increasing health-consciousness among the consumers, manufacturers are making the fish sauce by fermenting the fish using natural ingredients, such as salt and water. Despite significant demands from the Southeast Asian countries, the United States is witnessing a growing market for fish sauce. This growth is further promoted by the expansion of the distribution channels.
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Competitive Landscape
The global fish sauce market is consolidated and highly competitive, particularly with the dominance of a few global players. Masan Consumer and Red Boat are the leading players in the global fish sauce market. The strategies for expansions and strategic agreements have been crucial for their development in the global market scenario. Hung Thanh is a traditional fish sauce manufacturer, that exports its products to the European, Asian, American, and Australian markets.
Recent Developments
- In 2016, Masan launched Chin-Su Yod Thong fish sauce in the Thai market considering it to ibe an audacious step since Thailand is a traditional fish sauce market which exports several kinds of fish sauce products to many countries around the world.
- In 2018, Nestlé has launched its first Maggi fish sauce products in Viet Nam. It is also its first ever entry into the global fish sauce market.
Table of Contents
1. INTRODUCTION
1.1 Study Deliverables and Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Industrial
5.1.2 Traditional
5.2 By Composition
5.2.1 Basic
5.2.2 Premium
5.3 By End-User
5.3.1 Food Manufacturers
5.3.2 Retail
5.3.3 Food Service
5.4 By Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.1.4 Rest of North America
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 United Kingdom
5.4.2.3 Spain
5.4.2.4 France
5.4.2.5 Italy
5.4.2.6 Russia
5.4.2.7 Rest of Europe
5.4.3 Asia Pacific
5.4.3.1 China
5.4.3.2 Japan
5.4.3.3 India
5.4.3.4 Vietnam
5.4.3.5 Thailand
5.4.3.6 Indonesia
5.4.3.7 Rest of Asia-Pacific
5.4.4 Rest of the World
5.4.4.1 South America
5.4.4.2 Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Position Analysis
6.4 Company Profiles
6.4.1 Red Boat Fish Sauce
6.4.2 Thai Fishsauce Factory (Squid Brand) Co. Ltd
6.4.3 Unilever
6.4.4 Masan Group
6.4.5 Rayong Fish Sauce Co. Ltd
6.4.6 Rungroj Fish Sauce Co. Ltd
6.4.7 Pichai Fish Sauce Co. Ltd
6.4.8 Tang Sang Ha Co.
*List Not Exhaustive7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Fish Sauce Market market is studied from 2016 - 2026.
What is the growth rate of Fish Sauce Market?
The Fish Sauce Market is growing at a CAGR of 3.2% over the next 5 years.
Which region has highest growth rate in Fish Sauce Market?
North America is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Fish Sauce Market?
Asia Pacific holds highest share in 2020.
Who are the key players in Fish Sauce Market?
Red Boat Fish Sauce, Thai Fishsauce Factory (Squid Brand) Co. Ltd, Masan Group, Unilever Food Solutions, Hung Thanh Fish Sauce are the major companies operating in Fish Sauce Market.
