Asia Pacific Fish Sauce Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 6.23 Billion |
| Market Size (2029) | USD 8.44 Billion |
| CAGR (2024 - 2029) | 6.28 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Asia Pacific Fish Sauce Market Analysis
The Asia-Pacific Fish Sause Market size is estimated at USD 6.23 billion in 2024, and is expected to reach USD 8.44 billion by 2029, growing at a CAGR of 6.28% during the forecast period (2024-2029).
- Traditional influences are a significant factor in the popularity of sauces, dressings, and condiments in the Asia-Pacific region. Local consumers tend to prefer familiar products with flavors they know and enjoy, and traditional preparations often provide that familiarity. As a result, many sauces, dressings, and condiments in the region are made using traditional methods and ingredients, which contributes to their popularity among local consumers. Fish sauce is particularly popular in China, Southern Asia, and South East Asian countries, with Vietnamese consumers valuing traditionally made fish sauces for their perceived health benefits due to higher nitrogen content.
- The market for fish sauce is driven by the availability of different varieties, including gluten-free fish sauce, which is popular in Thai and Vietnamese cuisine. This product is widely available in supermarkets and grocery stores throughout the region, with manufacturers offering various packaging sizes to cater to customer needs. For example, Chang's offers a 150ml size of gluten-free fish sauce in Australia.
- Consumers in the region not only use fish sauce as a seasoning ingredient in cooking but also as a dipping sauce, which is expected to drive demand for the product. However, the availability of substitutes, concerns about added preservatives, and increasing interest in vegan foods may limit the growth of the fish sauce market.
Asia Pacific Fish Sauce Market Trends
Rise in the Demand for Fortified Fish Sauce
- Fortifying essential foods and condiments with micronutrients is an effective way to improve public health, particularly for vulnerable groups like small children, lactating and pregnant women, who are at a higher risk of micronutrient deficiencies. In many Asian countries, such as Indonesia, China, and Thailand, industrial fish sauces fortified with iron are produced to address this issue. Seasonings are considered better sources for infusing micronutrients into dietary practices, considering the bioavailability of nutrients like vitamin A, iron, folic acid, and zinc.
- Fish sauce is a popular condiment heavily consumed in Cambodia, and the government has recognized the importance of food fortification as a successful strategy to improve the nutritional security of the population. In Vietnam, consumers are willing to pay for safety and quality, leading to a growing demand for premium brand fish sauces and driving the market's growth in the forecast period.
- Overall, fortification of essential foods and condiments with micronutrients is an efficient and cost-effective method to sustain public health, and initiatives by governments and industries in Asian countries demonstrate a growing recognition of the importance of this strategy.
Significant Production and Demand from Southeast Asian Countries
- Fish sauce is a primary ingredient in cooking and dressing in many Southeast Asian countries, including Vietnam, Thailand, Cambodia, and the Philippines. It is commonly used as a seasoning and flavor enhancer for cooked or raw meat, fish, and vegetables, often replacing soy or salt. In Vietnam, for example, the General Statistics Office reports that consumers consume more than 300 million liters of fish sauce annually, and 95% of households use it in their meals. Vietnamese food is usually served with a dipping sauce that balances salty, sour, spicy, and sweet flavors.
- Other countries, such as Myanmar, Indonesia, and Cambodia, have also seen a growing demand for fish sauce in recent years. The increasing popularity of Southeast Asian cuisine and sauces worldwide is further driving demand for fish sauce in the region.
- In Thailand, where diabetes, hypertension, and kidney failure are prevalent illnesses, young consumers are increasingly health-conscious and seeking healthier options, such as fish sauce. This trend is driving market growth in the region.
- Overall, fish sauce plays a significant role in Southeast Asian cuisine and is a crucial ingredient for many traditional dishes. Its demand continues to grow as the popularity of the cuisine spreads globally, and consumers increasingly seek healthier options.
Asia Pacific Fish Sauce Industry Overview
The Asia-Pacific fish sauce market is highly competitive, with a few global players dominating the industry. Leading companies include Masan Group, Pichai Fish Sauce Co., Ltd., Rayong Fish Sauce Industry Co., Ltd., Rungroj Fish Sauce Co., Ltd., and Tang Sang Hah Co., Ltd. Expansion strategies and strategic agreements have been crucial for market development, and the leading players continue to dominate the market with their upper edge.
Due to high brand awareness among consumers, the major players enjoy easy reach and a positive market reputation. Market players consider various factors to make their products more appealing to customers, including offering products with clean label claims and innovative packaging designs.
Asia Pacific Fish Sauce Market Leaders
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Masan Group
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Pichai Fish Sauce Co., Ltd.
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Rayong Fish Sauce Industry co.,ltd.
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Tang Sang Hah Co.,Ltd.
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Rungroj Fish Sauce Co., Ltd.
*Disclaimer: Major Players sorted in no particular order
Asia Pacific Fish Sauce Market News
- January 2023: Hoang Gia Fish Sauce launched new product sizes in the Australian market just in time for Lunar New Year 2023. In addition, the company has implemented several promotional strategies to increase sales and brand awareness, such as buy two get one free and combo offers. By introducing different product sizes, Hoang Gia fish sauce can cater to a broader range of customers who may have varying needs or preferences.
- September 2021: Red Boat Fish Sauce company introduced a new product called Kho Sauce to the market. Kho Sauce is a delicious blend of fish sauce, shallots, ginger, and black pepper, which is perfect for cooking Vietnamese cuisine.
Asia Pacific Fish Sauce Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Drivers
- 4.2 Market Restraints
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4.3 Porter's Five Forces Analysis
- 4.3.1 Threat of New Entrants
- 4.3.2 Bargaining Power of Buyers/Consumers
- 4.3.3 Bargaining Power of Suppliers
- 4.3.4 Threat of Substitute Products
- 4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
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5.1 Product Type
- 5.1.1 Industrial
- 5.1.2 Traditional
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5.2 Composition
- 5.2.1 Basic
- 5.2.2 Premium
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5.3 End-User
- 5.3.1 Food Manufacturers
- 5.3.2 Retail
- 5.3.3 Food Service
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5.4 Country
- 5.4.1 China
- 5.4.2 Japan
- 5.4.3 India
- 5.4.4 Vietnam
- 5.4.5 Thailand
- 5.4.6 Indonesia
- 5.4.7 Rest of Asia-Pacific
6. COMPETITIVE LANDSCAPE
- 6.1 Strategies Adopted by Leading Players
- 6.2 Market Share Analysis
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6.3 Company Profiles
- 6.3.1 Hung Thanh Co. Ltd.
- 6.3.2 Jin Guan Foodstuff (fujian)Co., Ltd
- 6.3.3 Masan Group
- 6.3.4 Pichai Fish Sauce Co., Ltd.
- 6.3.5 Rayong Fish Sauce Industry co.,ltd.
- 6.3.6 Rungroj Fish Sauce Co., Ltd.
- 6.3.7 Sin Guo Co. (Pte) Ltd
- 6.3.8 Tang Sang Hah Co.,Ltd.
- 6.3.9 Red Boat Fish Sauce
- 6.3.10 Nam Phuong Food (Barona Vietnam)
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. DISCLAIMER
Asia Pacific Fish Sauce Industry Segmentation
Fish sauce is a condiment that is commonly used in Southeast Asian cuisine. It is made from fermented fish, usually anchovies or other small fish, that are mixed with salt and left to ferment for several months to a year.
The Asia-Pacific fish sauce market is segmented by product type, composition, end user, and country. Based on product type, the market is segmented into industrial and traditional. Based on composition, the market is bifurcated into basic and premium. The end-user segment is divided into food manufacturers, retail, and food service. Furthermore, the market is segmented by country into China, Japan, India, Vietnam, Thailand, Indonesia, and the Rest of Asia-Pacific.
For each segment, the market sizing and forecasts have been done based on value (in USD million).
| Product Type | Industrial |
| Traditional | |
| Composition | Basic |
| Premium | |
| End-User | Food Manufacturers |
| Retail | |
| Food Service | |
| Country | China |
| Japan | |
| India | |
| Vietnam | |
| Thailand | |
| Indonesia | |
| Rest of Asia-Pacific |
Asia Pacific Fish Sauce Market Research FAQs
How big is the Asia-Pacific Fish Sause Market?
The Asia-Pacific Fish Sause Market size is expected to reach USD 6.23 billion in 2024 and grow at a CAGR of 6.28% to reach USD 8.44 billion by 2029.
What is the current Asia-Pacific Fish Sause Market size?
In 2024, the Asia-Pacific Fish Sause Market size is expected to reach USD 6.23 billion.
Who are the key players in Asia-Pacific Fish Sause Market?
Masan Group, Pichai Fish Sauce Co., Ltd., Rayong Fish Sauce Industry co.,ltd., Tang Sang Hah Co.,Ltd. and Rungroj Fish Sauce Co., Ltd. are the major companies operating in the Asia-Pacific Fish Sause Market.
What years does this Asia-Pacific Fish Sause Market cover, and what was the market size in 2023?
In 2023, the Asia-Pacific Fish Sause Market size was estimated at USD 5.86 billion. The report covers the Asia-Pacific Fish Sause Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Asia-Pacific Fish Sause Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Asia Pacific Fish Sauce Industry Report
Statistics for the 2024 Asia Pacific Fish Sauce market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Asia Pacific Fish Sauce analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
