The fish sauce market share will post an incremental growth of USD 726.63 million, progressing at a CAGR of 6.4% during the forecast period. The increasing preference for convenience in cooking will offer immense growth opportunities to market vendors. The fish sauce market is fragmented, and the vendors are deploying growth strategies such as low-pricing strategies and strengthening the local customer base to compete in the market.
Technavio’s report on “Fish Sauce Market by Product and Geography - Forecast and Analysis 2022-2026” provides a detailed market analysis of the prevalent market forces, trends, and challenges that are likely to impact the market in focus.
The fish sauce market is segmented by product (industrial fish sauce and traditional fish sauce) and geography (APAC, Europe, North America, Middle East and Africa, and South America).
The growth of the fish sauce market in the industrial fish sauce segment will be significant during the forecast period. The convenience of using industrial fish sauce compared with traditional sauce will facilitate the growth of the segment.
By geographical segmentation, the increasing disposable income of consumers will facilitate the fish sauce market growth in APAC over the forecast period. 85% of the market's growth will originate from APAC. Vietnam, Thailand, China, Japan, and South Korea are the key markets for the fish sauce market in APAC.
The increasing preference for convenience in cooking will directly influence the sales of fish sauce. In addition, the expansion through both regular stores and e-commerce is one of the major fish sauce market trends that will positively impact the market growth. However, the stringent regulations will hamper the fish sauce market growth.
Some of the major fish sauce market vendors are Ashokasha Exim Pvt. Ltd., Blue Elephant International, Halcyon Proteins Pty. Ltd., Marine Resources Development Co. Ltd., Nestle SA, Pantainorasingh Manufacturer Co. Ltd., Phu Quoc Fish Sauce Manufacturer Hung Thanh, PhuNhi, 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., Thaipreeda Trading Co. Ltd., Thaitan Foods International Co. Ltd., The Woks of Life LLC, Unilever PLC, Viet Huong Hong Kong, and Viet Phu Inc.
To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
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Precise market size estimation during the forecast period 2022-2026.
CAGR of the fish sauce market forecast during 2022-2026.
Market-level data on units, average selling prices, and values of the fish sauce market share.
Prediction on the upcoming trends, drivers, and factors that challenge the growth of the fish sauce market.
Fish sauce industry growth across APAC, Europe, North America, Middle East and Africa, and South America.
