Selbyville, Delaware, Oct. 16, 2024 (GLOBE NEWSWIRE) --
The fish sauce market valuation is predicted to surpass USD 29.43 billion by 2032, reported in a research analysis by Global Market Insights Inc.
This growth is primarily driven by its widespread use in the food service industry, particularly in restaurants and catering, where fish sauce is valued for enhancing the flavor of various dishes. The household segment also plays a crucial role, with consumers increasingly incorporating fish sauce into home cooking. The rising demand for authentic Asian cuisine and greater consumer awareness of diverse culinary ingredients are key factors shaping this market's expansion.
The market's growth is also influenced by innovations in product offerings, such as low-sodium and organic fish sauces, which cater to health-conscious consumers. Additionally, the expansion of online retail channels is making fish sauce more accessible to a broader audience, contributing to the market's wider reach.
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The popularity of Asian cuisine is a major driver, fueling the demand for traditional flavoring ingredients like fish sauce. Consumers' growing interest in global gastronomy and diverse culinary experiences also plays a significant role, as does the increasing presence of ethnic foods in mainstream restaurants. Health-conscious trends have driven innovations like low-sodium and organic fish sauces, while e-commerce growth has improved accessibility and convenience, further expanding the market .
The fish sauce market from the plain fish sauce segment is expected to reach USD 19.30 billion by 2032, growing at a CAGR of 5.8%. Plain fish sauce remains a staple in both traditional and modern cuisines, particularly in Asian cooking, due to its strong, authentic flavor profile. Its simplicity and versatility make it popular among home cooks and professional chefs alike, ensuring its continued dominance.
The food service sector is projected to grow to USD 16.45 billion with a CAGR of 5.9% by 2032. Fish sauce is essential in restaurants, catering services, and food chains for enhancing the flavor of a wide variety of dishes. The sector’s bulk purchasing and continuous demand for authentic flavors contribute significantly to fish sauce market growth.
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The Supermarkets and hypermarkets are expected to dominate distribution, expanding to USD 10.15 billion at a CAGR of 5.7% by 2032. Their large reach, diverse product offerings, and promotional activities drive sales, making them a key distribution channel.
Asia-Pacific region is set to lead the fish sauce market, with a CAGR of 5.9% and reaching USD 19.42 billion by 2032. This is due to the region's rich culinary traditions, large-scale production, and strong demand for authentic Asian ingredients.
Partial chapters of report table of contents (TOC):
Chapter 1 Methodology & Scope
1.1 Market scope & definition
1.2 Base estimates & calculations
1.3 Forecast calculation
1.4 Data sources
1.4.1 Primary
1.4.2 Data mining sources
1.4.2.1 Paid sources
1.4.2.2 Public sources
Chapter 2 Executive Summary
2.1 Industry 3600 synopsis
Chapter 3 Fish Sauce Market Insights
3.1 Industry ecosystem analysis
3.1.1 Value chain
3.1.2 Key manufacturers
3.1.3 Go to market routes
3.1.4 Key distributors
3.1.4.1 New distribution channels
3.1.5 Profit margins across the industry
3.2 Industry impact forces
3.2.1 Growth drivers
3.2.1.1 Increasing popularity of Asian cuisine
3.2.1.2 Rising consumer demand for authentic flavors
3.2.1.3 Health trends favoring low-sodium and organic options
3.2.2 Fish Sauce Market challenges
3.2.2.1 Increasing popularity of Asian cuisine
3.2.2.2 Rising consumer demand for authentic flavors
3.2.3 Market opportunities
3.2.3.1 New markets/applications
3.2.3.2 Growth potential analysis
3.3 Raw material landscape
3.3.1 Manufacturing trends
3.3.1.1 Technology evolution
3.3.1.2 Sustainable manufacturing
3.3.1.2.1 Green practices
3.3.1.2.2 Decarbonization
3.3.2 New raw materials
3.3.3 Raw material pricing trends (USD/Units)
3.3.3.1 North America
3.3.3.2 Europe
3.3.3.3 Asia Pacific
3.3.3.4 Latin America
3.3.3.5 MEA
3.4 Regulations & market impact
3.5 Porter’s analysis
3.6 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
