Fish Sauce Global Market Report 2024

The fish sauce market size has grown strongly in recent years. It will grow from $17.18 billion in 2023 to $18.47 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historical period can be attributed to factors such as culinary diversity, the globalization of cuisines, changing dietary preferences, cultural influences, and increased consumer awareness.

The fish sauce market size is expected to see strong growth in the next few years. It will grow to $23.78 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to continued culinary exploration, health consciousness, global fusion cuisine trends, rising interest in umami flavors, and expansion into new markets. Major trends in the forecast period include the expansion of fish sauce application in culinary arts, packaging innovations for convenience, the rise in demand for premium and specialty brands, exploration of fusion flavors and blends, increased awareness of health benefits, and globalization of fish sauce brands.

The rising consumption of seafood is poised to drive the growth of the fish sauce market. Seafood, known for its rich protein content and mineral composition, is a globally favored food choice appreciated for its unique flavors and textures, with fish sauce being a prominent ingredient in several seafood preparations. With an anticipated surge in global fish consumption projected to increase by 16.3% by 2029, reaching 180 million tons, as indicated by the Food and Agriculture Organization in 2021, and statistics from Statistics Iceland revealing a substantial rise in the overall fish catch in June 2022, nearly 35,000 tons higher than June 2021, the escalating seafood consumption trend is set to bolster the demand for fish sauce.

The nutritional advantages associated with fish and seafood are anticipated to fuel the expansion of the fish sauce market. Recognized as rich sources of vital nutrients such as proteins, omega-3 fatty acids, vitamins, and minerals, fish and seafood offer substantial health benefits, aiding muscle development, repair, and overall bodily functions. Fish sauce, derived from fish, inherits these nutritional attributes. Reports from sources such as Verywell Fit emphasize the positive health outcomes linked to regular seafood consumption, attributing a lower risk of heart disease to omega-3 fatty acids present in fish. Moreover, research suggests that these fatty acids may alleviate symptoms related to rheumatoid arthritis while potentially enhancing brain and eye health. This nutritional aspect contributes significantly to driving the growth of the fish sauce market.

Product innovation stands as a prevalent trend shaping the fish sauce market, with advancements introducing modern variants utilizing contemporary production techniques and superior-quality ingredients. These innovations have expanded the utilization of fish sauce beyond traditional dishes and cuisines. For example, in January 2022, Sozye, a UK-based sauce maker, unveiled a line of plant-based fish sauces named nish, noyster, and noya. These environmentally friendly alternatives cater to non-traditional culinary uses, presenting a sustainable choice for diverse dishes. This trend showcases how innovative approaches are reshaping the fish sauce market landscape, appealing to evolving consumer preferences and culinary diversity.

Leading companies within the fish sauce market are concentrating their efforts on developing innovative products such as the Nuoc Cham mix to attain a competitive edge in the industry. The Nuoc Cham mix offers a convenient solution, allowing cooks to effortlessly experience the essential flavors of Vietnamese cuisine by simply adding water to a meticulously crafted concentrate. For example, in September 2021, the Red Boat Fish Sauce Company, a US-based sauces company, introduced its Nuoc Cham mix. Red Boat's Nuoc Cham mix is designed to share the authentic essence of this traditional family recipe, catering to both seasoned enthusiasts and newcomers exploring the flavors of Vietnamese culinary delights.

In August 2021, MidOcean Partners, a US-based private equity company, successfully acquired Louisiana Fish Fry in a transaction of undisclosed value. This strategic acquisition empowered MidOcean Partners to preserve the brand's rich heritage while simultaneously expanding its presence into new geographical markets, diverse channels, and extended product lines. Louisiana Fish Fry, a US-based food company, specializes in manufacturing coatings, seafood sauces, spices, seasonings, marinades, and an array of other food products, indicating the diversification and expansion potential sought by MidOcean Partners through this acquisition.

Major companies operating in the fish sauce market report are Tang Sang Hah Co. Ltd., Masan Group, Thai Preeda Co. Ltd., Shantou Haimao Foodstuff Factory Limited Company, Teo Tak Seng Fish-Sauce Factory Co. Ltd, Thai Fishsauce Factory Squid Brand Co Ltd, Rayong Fish Sauce Industry Co. Ltd, Pichai Fish Sauce Co. Ltd, Halcyon Proteins PTY Ltd, Hung Thanh Co. Ltd., Unilever PLC, Nestle S.A., Louisiana Fish Fry, Pantainorasingh Manufacturer Co. Ltd., Phu Nhi, Thanh Hung Co. Ltd, Viet Phu Inc., Shantou Fish Sauce Factory Co. Ltd., Aguacates Seleccionados JBR, Henry Avocado Corporation, Del Rey Avocado Co. Inc., Mission Produce, Calavo Growers., Westfalia Fruit, Costa Group Holdings Ltd., Camposol., West Pak Avocado Inc., Grupo Hame.

North America was the largest region in the fish sauce market in 2023. The regions covered in the fish sauce market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the fish sauce market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The main types of fish sauce include Korean fish sauce, Japanese fish sauce, Southeast Asian fish sauce, and Western fish sauce. Korean fish sauce is specifically made from anchovies and salt, serving as a popular condiment in Korean cuisine to add depth to soups and other dishes. It is available in both plain and spiced variations, with a range of basic to premium price points. The distribution channels for fish sauce encompass supermarkets, hypermarkets, convenience stores, specialty stores, and online retailers. Fish sauce is used for domestic cooking, in restaurants, and across various applications in the food industry.

The fish sauce market research report is one of a series of new reports that provides fish sauce market statistics, including fish sauce industry global market size, regional shares, competitors with a fish sauce market share, detailed fish sauce market segments, market trends, and opportunities, and any further data you may need to thrive in the fish sauce industry. This fish sauce market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


This product will be delivered within 3-5 business days.