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Fish Sauce Market Size Worth $19.50 Billion By 2025 | CAGR 3.51%: Grand View Research, Inc.
SAN FRANCISCO, Sept. 3, 2019 /PRNewswire/ -- The global fish sauce market size is expected to reach USD 19.50 billion by 2025 registering a CAGR of 3.51%, according to a new report by Grand View Research, Inc. Fish sauce contains numerous vital nutrients and minerals including iodine and vitamins A & D. Rising cases of thyroid problems and related diseases have led to an increased demand across the globe, thereby augmenting market growth.
Key suggestions from the report:
- Traditional fish sauce is projected to be the fastest-growing, as well as the largest, product type segment over the forecast years
- The restaurants application segment is likely to lead the global market expanding at the fastest CAGR of 3.6% from 2019 to 205
- North America led the global fish sauce market in 2018 and accounted for a market share of 45%. The region is estimated to grow further at a steady CAGR during the forecast years
- Key companies in the market focus on new product development and capacity and portfolio expansion to estimate existing and future demand patterns from upcoming application segments
Read 80 page research report with TOC on "Fish Sauce Market Size, Share & Trends Analysis Report By Product Type (Traditional, Industrial), By Application (Domestic/Household, Foodservice Industry, and Restaurant), By Region, And Segment Forecasts, 2019 - 2025" at: https://www.grandviewresearch.com/industry-analysis/fish-sauce-market
Fish sauce is widely used as a substitute for soy sauce in many countries as it has a numerous health benefits. It is also used as an ingredient for casseroles and soups, which is propelling its demand further. In addition, manufacturers are using natural fermentation processes by using anchovies and sea salt to retain the product's nutritional value. This is likely to contribute to the market growth.
Fish sauce is a staple ingredient in many cuisines, which is also expected to spur the demand in future. Moreover, print and media advertisements have played a big role in creating awareness about the product, thereby supporting the overall market growth. U.S. being the largest consumer, North America is expected to be the dominant regional market over the forecast period. The market in Central & South America is projected to register the fastest CAGR of 3.8% from 2019 to 2025.
Some of the key companies in the global market are Teo Tak Seng Fish-Sauce Factory Co. Ltd, Pichai Fish Sauce Co., Masan Consumer Corporation, Rayong Fish Sauce Industry Co., Ltd., Shantou Fish Sauce Factory Co., TANG SANG HAH CO., Ltd., Thai Fishsauce Factory (Squid Brand) Co. Ltd., Fish Sauce Co., Ltd., Halcyon Proteins Pty. Ltd., and Hung Thanh Co. Ltd.
Grand View Research has segmented the global fish sauce market on the basis of product type, application, and region:
- Fish Sauce Product Type Outlook (Revenue, USD Billion, 2015 - 2025)
- Fish Sauce Application Outlook (Revenue, USD Billion, 2015 - 2025)
- Foodservice Industry
- Fish Sauce Regional Outlook (Revenue, USD Billion, 2015 - 2025)
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
- South Africa
Find more research reports on Consumer F&B Industry, by Grand View Research:
- Fresh Meat Packaging Market – The global fresh meat packaging market size was valued at USD 2.06 billion in 2018 and is anticipated to expand at a CAGR of 2.7% over the forecast period. Increasing consumption of fresh meat products such as pork and beef is expected to fuel the growth.
- Rapeseed Oil Market – The global rapeseed oil market size was valued at USD 34.9 billion in 2018. The product is expected to gain popularity as it is a source of antioxidant vitamin E and mono saturated fats.
- Gluten-free Pizza Crust Market – Increasing urbanization and growing popularity of western foods including pizza are driving the market for gluten-free pizza crust.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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