Market Snapshot
2016-2024
2018
North America
Asia Pacific
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 (2019-2024).
- The rise in demand for fortified fish sauce and a 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
By distribution channel, the market studied is segmented into supermarkets/hypermarkets, convenience stores, specialty retailers, online retail stores, and others distribution channels.
| By Distribution Channel | |
| Supermarkets/Hypermarkets | |
| Convenience Stores | |
| Speciality Retailers | |
| Online Retail Stores | |
| Other Distribution Channels |
| Geography | |||||||||
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Key Market Trends
Supermarkets/Hypermarkets Remain the Largest Market
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 the Asian countries, thereby, making it easier for the consumers to buy food products.
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North America is the Fastest Growing Market Segment
The major players in the US fish sauce market are the brands from Thailand, Vietnam, and Singapore. Some of the major brands in the country are Red Boat Fish Sauce and Squid. The premium segment accounted for 36.74% of the US fish sauce market, in 2017. The consumer demand for 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 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 the 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.
Major Players
- Red Boat Fish Sauce
- Thai Fishsauce Factory (Squid Brand) Co. Ltd
- Masan Group
- Unilever Food Solutions
- Hung Thanh Fish Sauce
* Complete list of players covered available in the table of contents below
Table of Contents
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1. INTRODUCTION
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1.1 Study Deliverables
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1.2 Study Assumptions
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1.3 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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3.1 Market Overview
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4. MARKET DYNAMICS
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4.1 Market Drivers
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4.2 Market Restraints
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4.3 Porter's Five Forces Analysis
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4.3.1 Threat of New Entrants
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4.3.2 Bargaining Power of Buyers/Consumers
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4.3.3 Bargaining Power of Suppliers
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4.3.4 Threat of Substitute Products
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4.3.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 By Distribution Channel
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5.1.1 Supermarkets/Hypermarkets
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5.1.2 Convenience Stores
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5.1.3 Speciality Retailers
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5.1.4 Online Retail Stores
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5.1.5 Other Distribution Channels
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5.2 Geography
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5.2.1 North America
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5.2.1.1 United States
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5.2.1.2 Canada
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5.2.1.3 Mexico
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5.2.1.4 Rest of North America
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5.2.2 Europe
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5.2.2.1 Spain
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5.2.2.2 United Kingdom
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5.2.2.3 Germany
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5.2.2.4 France
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5.2.2.5 Italy
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5.2.2.6 Russia
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5.2.2.7 Rest of Europe
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5.2.3 Asia Pacific
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5.2.3.1 China
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5.2.3.2 Japan
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5.2.3.3 Vietnam
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5.2.3.4 Thailand
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5.2.3.5 Rest of Asia-Pacific
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5.2.4 Rest of the World
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5.2.4.1 South America
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5.2.4.2 Middle East & Africa
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6. COMPETITIVE LANDSCAPE
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6.1 Most Active Companies
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6.2 Most Adopted Strategies
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6.3 Market-share Analysis
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6.4 Company Profiles
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6.4.1 Red Boat Fish Sauce
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6.4.2 Thai Fishsauce Factory (Squid Brand) Co. Ltd
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6.4.3 Unilever Food Solutions
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6.4.4 Masan Group
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6.4.5 Rayong Fish Sauce Co. Ltd
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6.4.6 Rungroj Fish Sauce Co. Ltd
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6.4.7 Pichai Fish Sauce Co. Ltd
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6.4.8 Tang Sang Ha Co. Ltd
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*List Not Exhaustive -
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
