세계의 피쉬 소스 시장 보고서 : 유형별, 성분별, 유통채널별, 산업별, 지역별(2024-2032년)

The global fish sauce market size reached US$ 16.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 21.3 Billion by 2032, exhibiting a growth rate (CAGR) of 2.8% during 2024-2032. Rising demand for premium and artisanal varieties, increased focus on health-conscious and clean-label options, and expanding global culinary influences are key trends driving the fish sauce market growth.

Global Fish Sauce Market Analysis:

Major Market Drivers: The growing preference for high nutritional condiments is primarily driving the growth of the market. In addition to this, the increasing number of restaurants and cafes serving seafood and the inflating disposable incomes of consumers are also contributing to the market growth.

Key Market Trends: The introduction of fish sauce in various flavors, along with their rising availability across online retail channels, is acting as a significant trend, bolstering the market growth. Moreover, manufacturers are introducing convenient packaging formats such as squeezable bottles, single-serve sachets, and resealable pouches to enhance convenience and usability for consumers, which is positively impacting the fish sauce market size.

Competitive Analysis: Some of the leading companies in fish sauce market include Halcyon Proteins Pty Ltd., Masan Group, Pichai Fish Sauce Co. Ltd., Rayong Fish Sauce Industry Co. Ltd., Red Boat Fish Sauce, Rungroj Fish Sauce Co. Ltd., Teo Tak Seng Fish Sauce Factory Co. Ltd., Thai Fishsauce Factory (Squid Brand) Co. Ltd., Thaipreeda Group, and Unilever plc., among others.

Geographical Trends: According to the report, Asia-Pacific currently dominates the global market. Fish sauce is widely consumed in Southeast Asian countries, including Thailand, Vietnam, Cambodia, Myanmar, and Indonesia. Moreover, Thailand, Vietnam, and Singapore are the top exporters of fish sauce, which is also contributing to the region's growth.

Challenges and Opportunities: Challenges in the fish sauce market include maintaining sustainability in fish sourcing and production, meeting stringent quality and safety regulations, and addressing consumer concerns regarding authenticity and additives. Opportunities lie in expanding into new international markets driven by growing interest in Asian cuisine, innovating with premium and flavored variants, and leveraging e-commerce for direct consumer engagement and distribution.

Fish Sauce Market Trends:

Growing Preference for Nutrient-Rich Foods

Fish sauce is a potential source of vital nutrients and minerals derived from fish and fish organs and enhanced by fermentation during its production. These nutrients are associated with health benefits, such as supporting sleep, boosting the digestive system and metabolism, reducing blood cholesterol, and improving brain and heart function. The rising demand for fish sauce on account of the increasing prevalence of dietary nutrient deficiency among a large section of the population globally is positively impacting the fish sauce market outlook. For instance, the World Health Organization (WHO) estimates that over two billion people, representing 30% of the global population, suffer from micronutrient deficiency. Besides this, the escalating demand for gluten-free fish sauces due to the rising cases of gluten intolerance among individuals is also offering lucrative growth opportunities to the overall market. Brands are capitalizing on customers' needs to keep up with the evolving trends and uphold their market position. For instance, in 2023, Thai fish sauce firm Squid Brand launched two new products, Mala Spicy Fish Sauce and Truffle Fish Sauce. These products are free from gluten, artificial colors, and preservatives. Such innovations are projected to augment the fish sauce market demand in the coming years.

Increasing Product Offerings

Various manufacturers are expanding their product portfolios to offer a wider range of flavors and variants to cater to diverse consumer tastes and preferences. This includes flavored fish sauces such as garlic, chili, lime, and tamarind-infused varieties, providing consumers with more options to customize their culinary creations. For instance, in May 2023, Red Boat Fish Sauce launched its new kho sauce. The company claimed the sauce was made with Red Boat's premium fish sauce and a blend of black pepper, shallots, and ginger. Similarly, in April 2024, responsibly sourced chilled fish brand Fish Said Fred launched two new SKUs to its oven-ready range, Thai Green Cod Curry and Tuna Katsu Curry. The new Thai Green Cod Curry contains chunky cod pieces in a creamy Thai Green Curry sauce, while the new Tuna Katsu Curry contains crispy katsu tuna bites with a fragrant katsu curry sauce. The introduction of fish sauce-infused curries, along with the rising preference for distinctive flavors of fish sauces, is anticipated to propel the fish sauce market revenue in the coming years.

Rising Popularity of Cross-Continental Cuisines

The emerging preferences for cross-continental cuisines, like Thai, Korean, Chinese, etc., are further catalyzing the market for fish sauce. Fish sauce is widely consumed in Southeast Asian countries and is currently enjoyed by individuals of numerous cultures across the globe. Moreover, fish sauce market statistics indicate that the escalating number of Thai, Chinese, Japanese, and Korean restaurants across the world is also contributing to the consumption of fish sauce. According to Meituan-Dianping's report released in 2017, over 600,000 Chinese fine-dining restaurants have been witnessing remarkable growth overseas. Moreover, according to the Ministry of Agriculture, Food and Rural Affairs, Korea, the government will expand Korean food's global appeal by nurturing 100 Michelin-starred Korean restaurants worldwide by 2027 and increasing the global market value of Korean food to 300 trillion won (US$ 227 Billion). Besides this, collaborations between fish sauce manufacturers and hospitality establishments to develop signature dishes or exclusive blends are anticipated to significantly contribute to the fish sauce market share.

Global Fish Sauce Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global fish sauce market report, along with forecasts at the global, regional, and country levels from 2024-2032. Our report has categorized the market based on type, composition, distribution channel, and industry vertical.

Breakup by Type:

Korean Fish Sauce

Japanese Fish Sauce

Southeast Asian Fish Sauce

Western Fish Sauce

Others

The fish sauce market report has provided a detailed breakup and analysis of the market based on the type. This includes Korean fish sauce, Japanese fish sauce, southeast Asian fish sauce, western fish sauce, and others.

Korean Fish Sauce, also known as aekjeot, is typically made from anchovies and salt. It boasts a robust, savory flavor with a slightly sweet undertone, commonly used in Korean cuisine to enhance soups, stews, and marinades.

Japanese Fish Sauce, also referred to as shottsuru, is generally prepared from fermented fish and soybeans. It has a milder, sweeter taste compared to other Asian varieties and is often used as a seasoning or dipping sauce in Japanese dishes like sashimi and grilled fish.

Southeast Asian fish sauce is considered a staple condiment in Southeast Asian cuisine. It's typically made from anchovies or other small fish, fermented with salt, and used to add depth and saltiness to dishes like curries, stir-fries, and dipping sauces.

Breakup by Composition:

Basic

Premium

The fish sauce market research report has provided a detailed breakup and analysis of the market based on the composition. This includes basic and premium.

Basic fish sauces are typically made from basic ingredients like fish, salt, and water. They are known for their affordability, versatility in cooking, and strong umami flavor, enhancing the taste of dishes. Premium fish sauce, on the other hand, is crafted using high-quality ingredients and traditional fermentation methods. It offers a superior depth of flavor, complexity, and aroma, elevating the culinary experience. Premium fish sauces often undergo longer fermentation periods and use select fish varieties, resulting in a richer and more nuanced taste profile. They provide a more refined culinary experience, elevate dishes to gourmet levels, and cater to discerning consumers seeking authentic flavors and quality.

Breakup by Distribution Channel:

Supermarkets and Hypermarkets

Convenience Stores

Specialty Stores

Online Stores

Others

Supermarkets and hypermarkets currently exhibit a clear dominance in the market

The report has provided a detailed breakup and analysis of the market based on the distribution channel. This includes supermarkets and hypermarkets, convenience stores, specialty stores, online stores, and others. According to the report, supermarkets and hypermarkets currently exhibit a clear dominance in the market.

Supermarkets and hypermarkets play a significant role in the distribution of fish sauce due to their extensive reach, large-scale operations, and diverse product offerings. They provide consumers with convenient access to a wide selection of fish sauce brands and variants, often prominently displaying them in dedicated aisles or sections within the store. Additionally, supermarkets and hypermarkets leverage their purchasing power to negotiate favorable terms with suppliers, ensuring competitive pricing for consumers while offering opportunities for fish sauce manufacturers to showcase their products to a broad audience. Collaborations between fish sauce manufacturers are hypermarkets brands are anticipated to positively influence the fish sauce market price trends in the coming years.

Breakup by Industry Vertical:

Food and Beverages

Household

Hotels and Restaurants

Others

Hotels and restaurants hold the largest market share

The report has provided a detailed breakup and analysis of the market based on the industry vertical. This includes food and beverages, household, hotels and restaurants, and others. According to the report, hotels and restaurants hold the largest market share.

The rising number of hotels and restaurants serving Asian cuisine and seafood is primarily driving the growth of this segment. For instance, in May 2024, Ruby Red Hospitality opened Sozo Skyline, a new pan-Asian restaurant in Central Bengaluru. The restaurant serves an array of dishes from across South-East Asia. Similarly, in January 2024, PF Chang's, America's iconic Asian restaurant, launched its flagship outlet in Mumbai, India. Additionally, hotels and restaurants often source fish sauce in bulk quantities, providing economies of scale for manufacturers and distributors. The quality and authenticity of fish sauce used in hospitality establishments can influence consumer perceptions and preferences, leading to brand loyalty and repeat purchases.

Breakup by Region:

North America

United States

Canada

Asia-Pacific

China

Japan

India

South Korea

Australia

Indonesia

Others

Europe

Germany

France

United Kingdom

Italy

Spain

Russia

Others

Latin America

Brazil

Mexico

Others

Middle East and Africa

Asia-Pacific currently dominates the global market

The report has provided a detailed breakup and analysis of the market based on the region. This includes North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia-Pacific currently dominates the global market.

Fish sauce is widely consumed in Southeast Asian countries, including Thailand, Vietnam, Cambodia, Myanmar, and Indonesia. For instance, per the National Office of Statistics, the average monthly consumption of fish and dipping sauce per capita in Vietnam is 0.3 liters. Moreover, Thailand, Vietnam, and Singapore are the top exporters of fish sauce, with Red Boat Fish Sauce, Squid, and Viet Phu Inc. being some of the prominent brands in the market. Moreover, the preference for seafood across the region has escalated the demand for fish sauce. According to the Department of Fisheries (Thailand), about 1.6 million tons of fish products were imported into Thailand in 2021. The continually increasing preference for fish sauce in the region is anticipated to propel the growth of the overall market in the coming years.

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the following fish sauce top brands:

Halcyon Proteins Pty Ltd.

Masan Group

Pichai Fish Sauce Co. Ltd.

Rayong Fish Sauce Industry Co. Ltd.

Red Boat Fish Sauce

Rungroj Fish Sauce Co. Ltd.

Teo Tak Seng Fish Sauce Factory Co. Ltd.

Thai Fishsauce Factory (Squid Brand) Co. Ltd.

Thaipreeda Group

Unilever plc.

(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)

Global Fish Sauce Market News:

June 2024: Noumami AS, a manufacturer in Norway, took up the challenge to produce fish sauce based on Norwegian Salmon, Norwegian Cod, and Herring.

September 2023: Vietnamese fish sauce received national recognition as an intangible cultural heritage.

May 2023: Red Boat Fish Sauce launched its new kho sauce. The company claimed the sauce was made with Red Boat's premium fish sauce and a blend of black pepper, shallots, and ginger.

Key Questions Answered in This Report

• 1. What was the size of the global fish sauce market in 2023?
• 2. What is the expected growth rate of the global fish sauce market during 2024-2032?
• 3. What are the key factors driving the global fish sauce market?
• 4. What has been the impact of COVID-19 on the global fish sauce market?
• 5. What is the breakup of the global fish sauce market based on the distribution channel?
• 6. What is the breakup of the global fish sauce market based on the industry vertical?
• 7. What are the key regions in the global fish sauce market?
• 8. Who are the key players/companies in the global fish sauce market?

Table of Contents

1 Preface

2 Scope and Methodology

• 2.1 Objectives of the Study
• 2.2 Stakeholders
• 2.3 Data Sources
  • 2.3.1 Primary Sources
  • 2.3.2 Secondary Sources
• 2.4 Market Estimation
  • 2.4.1 Bottom-Up Approach
  • 2.4.2 Top-Down Approach
• 2.5 Forecasting Methodology

3 Executive Summary

4 Introduction

• 4.1 Overview
• 4.2 Key Industry Trends

5 Global Fish Sauce Market

• 5.1 Market Overview
• 5.2 Market Performance
• 5.3 Impact of COVID-19
• 5.4 Market Forecast

6 Market Breakup by Type

• 6.1 Korean Fish Sauce
  • 6.1.1 Market Trends
  • 6.1.2 Market Forecast
• 6.2 Japanese Fish Sauce
  • 6.2.1 Market Trends
  • 6.2.2 Market Forecast
• 6.3 Southeast Asian Fish Sauce
  • 6.3.1 Market Trends
  • 6.3.2 Market Forecast
• 6.4 Western Fish Sauce
  • 6.4.1 Market Trends
  • 6.4.2 Market Forecast
• 6.5 Others
  • 6.5.1 Market Trends
  • 6.5.2 Market Forecast

7 Market Breakup by Composition

• 7.1 Basic
  • 7.1.1 Market Trends
  • 7.1.2 Market Forecast
• 7.2 Premium
  • 7.2.1 Market Trends
  • 7.2.2 Market Forecast

8 Market Breakup by Distribution Channel

• 8.1 Supermarkets and Hypermarkets
  • 8.1.1 Market Trends
  • 8.1.2 Market Forecast
• 8.2 Convenience Stores
  • 8.2.1 Market Trends
  • 8.2.2 Market Forecast
• 8.3 Specialty Stores
  • 8.3.1 Market Trends
  • 8.3.2 Market Forecast
• 8.4 Online Stores
  • 8.4.1 Market Trends
  • 8.4.2 Market Forecast
• 8.5 Others
  • 8.5.1 Market Trends
  • 8.5.2 Market Forecast

9 Market Breakup by Industry Vertical

• 9.1 Food and Beverages
  • 9.1.1 Market Trends
  • 9.1.2 Market Forecast
• 9.2 Household
  • 9.2.1 Market Trends
  • 9.2.2 Market Forecast
• 9.3 Hotels and Restaurants
  • 9.3.1 Market Trends
  • 9.3.2 Market Forecast
• 9.4 Others
  • 9.4.1 Market Trends
  • 9.4.2 Market Forecast

10 Market Breakup by Region

• 10.1 North America
  • 10.1.1 United States
    • 10.1.1.1 Market Trends
    • 10.1.1.2 Market Forecast
  • 10.1.2 Canada
    • 10.1.2.1 Market Trends
    • 10.1.2.2 Market Forecast
• 10.2 Asia-Pacific
  • 10.2.1 China
    • 10.2.1.1 Market Trends
    • 10.2.1.2 Market Forecast
  • 10.2.2 Japan
    • 10.2.2.1 Market Trends
    • 10.2.2.2 Market Forecast
  • 10.2.3 India
    • 10.2.3.1 Market Trends
    • 10.2.3.2 Market Forecast
  • 10.2.4 South Korea
    • 10.2.4.1 Market Trends
    • 10.2.4.2 Market Forecast
  • 10.2.5 Australia
    • 10.2.5.1 Market Trends
    • 10.2.5.2 Market Forecast
  • 10.2.6 Indonesia
    • 10.2.6.1 Market Trends
    • 10.2.6.2 Market Forecast
  • 10.2.7 Others
    • 10.2.7.1 Market Trends
    • 10.2.7.2 Market Forecast
• 10.3 Europe
  • 10.3.1 Germany
    • 10.3.1.1 Market Trends
    • 10.3.1.2 Market Forecast
  • 10.3.2 France
    • 10.3.2.1 Market Trends
    • 10.3.2.2 Market Forecast
  • 10.3.3 United Kingdom
    • 10.3.3.1 Market Trends
    • 10.3.3.2 Market Forecast
  • 10.3.4 Italy
    • 10.3.4.1 Market Trends
    • 10.3.4.2 Market Forecast
  • 10.3.5 Spain
    • 10.3.5.1 Market Trends
    • 10.3.5.2 Market Forecast
  • 10.3.6 Russia
    • 10.3.6.1 Market Trends
    • 10.3.6.2 Market Forecast
  • 10.3.7 Others
    • 10.3.7.1 Market Trends
    • 10.3.7.2 Market Forecast
• 10.4 Latin America
  • 10.4.1 Brazil
    • 10.4.1.1 Market Trends
    • 10.4.1.2 Market Forecast
  • 10.4.2 Mexico
    • 10.4.2.1 Market Trends
    • 10.4.2.2 Market Forecast
  • 10.4.3 Others
    • 10.4.3.1 Market Trends
    • 10.4.3.2 Market Forecast
• 10.5 Middle East and Africa
  • 10.5.1 Market Trends
  • 10.5.2 Market Breakup by Country
  • 10.5.3 Market Forecast

11 SWOT Analysis

• 11.1 Overview
• 11.2 Strengths
• 11.3 Weaknesses
• 11.4 Opportunities
• 11.5 Threats

12 Value Chain Analysis

13 Porters Five Forces Analysis

• 13.1 Overview
• 13.2 Bargaining Power of Buyers
• 13.3 Bargaining Power of Suppliers
• 13.4 Degree of Competition
• 13.5 Threat of New Entrants
• 13.6 Threat of Substitutes

14 Price Analysis

15 Competitive Landscape

• 15.1 Market Structure
• 15.2 Key Players
• 15.3 Profiles of Key Players
  • 15.3.1 Halcyon Proteins Pty Ltd.
    • 15.3.1.1 Company Overview
    • 15.3.1.2 Product Portfolio
  • 15.3.2 Masan Group
    • 15.3.2.1 Company Overview
    • 15.3.2.2 Product Portfolio
    • 15.3.2.3 Financials
  • 15.3.3 Pichai Fish Sauce Co. Ltd.
    • 15.3.3.1 Company Overview
    • 15.3.3.2 Product Portfolio
  • 15.3.4 Rayong Fish Sauce Industry Co. Ltd.
    • 15.3.4.1 Company Overview
    • 15.3.4.2 Product Portfolio
  • 15.3.5 Red Boat Fish Sauce
    • 15.3.5.1 Company Overview
    • 15.3.5.2 Product Portfolio
  • 15.3.6 Rungroj Fish Sauce Co. Ltd.
    • 15.3.6.1 Company Overview
    • 15.3.6.2 Product Portfolio
  • 15.3.7 Teo Tak Seng Fish Sauce Factory Co. Ltd.
    • 15.3.7.1 Company Overview
    • 15.3.7.2 Product Portfolio
  • 15.3.8 Thai Fishsauce Factory (Squid Brand) Co. Ltd.
    • 15.3.8.1 Company Overview
    • 15.3.8.2 Product Portfolio
  • 15.3.9 Thaipreeda Group
    • 15.3.9.1 Company Overview
    • 15.3.9.2 Product Portfolio
  • 15.3.10 Unilever plc
    • 15.3.10.1 Company Overview
    • 15.3.10.2 Product Portfolio
    • 15.3.10.3 Financials