Fish Sauce Market: Introduction

The demand for different sauces varies based on country and geographical region. Fish sauce is a smelly brown liquid made from fermented fish and salt which is very important flavoring ingredient in Thai cooking. It is used as a condiment in different cuisines. Fish sauces which are manufactured in industries are a combination of the fish essence, flavoring, preservatives, coloring, and sweeteners. It is a staple ingredient in various cultures in coastal regions of East Asia, Southeast Asia, and others. Fish sauce has high consumption in Vietnam. People in Vietnam believe that traditionally made fish sauces are more nutritious and beneficial for health as it contains higher level of nitrogen. Nowadays people are more health conscious, so they prefer traditional fish sauce more. Fish sauce is used as soy sauce in Chinese cooking and as salt in western cooking. It is prepared in many different ways in each country for fish, pork, shrimp, and chicken. It is used as an ingredient for casseroles and soups in parts of Southern China. Fish sauce is also used as a base for a dipping condiment and added to dishes during the cooking process.

Fish Sauce Market: Dynamics                              

Seasoning has become an essential item on the dining table in many cultures around the world. Among all the other seasonings, fish sauce is expected to have high consumption over the years. The increasing demand for seasoning is the key factor driving the growth of fish sauce market. A series of food scandals happened in the past like in 2007, some local producers of fish sauce were found guilty of adding toxic chemicals and urea to raise the protein content in it. So, as per the recent trend, the traditional products are dominated by industrially produced products and consumers are more willing to pay for quality and safety and therefore shifted towards premium branded fish sauce products which can be the major factor towards the growth of fish sauce market. Another factor towards the growth of fish sauce market is the increase in product offerings by the manufacturers by offering new products in different bottle sizes and varying prices to appeal to a wider customer base. In addition, consumers increase usage of fish sauce not only as a dipping agent but also as a seasoning ingredient in cooking and also consumers eating non-vegetarian food are increasing day by day due to its high nutrition content. This will increase the consumer demand towards the growth of fish sauce market. However, availability of many substitutes to fish sauce, health concerns related to added preservatives along with the increasing popularity of vegan foods hinders the growth of fish sauce market.

Fish Sauce Market: Segmentation

The fish sauce market has been segmented by the product type, price, application type, distribution channel, and region. On the basis of product type, the fish sauce market can be segmented into Korean fish sauce, Japanese fish sauce, Southeast Asian fish sauce, Western fish sauce and others. With regard to the price, the fish sauce market is segmented into basic and premium. On the basis of application type, the fish sauce market is classified as food industries, domestic use, restaurants and others. On the basis of a distribution channel, the fish sauce market can be segmented into direct sales and indirect sales. The indirect sales market can be further sub-segmented into the specialty stores, wholesalers, hypermarket, supermarket, convenience stores, online retailers and others. On the basis of region, the fish sauce market can be segmented into North America, Latin America, Europe, Asia Pacific and the Middle East and Africa.

Fish Sauce Market: Regional Outlook

On the basis of the regional outlook, the global fish sauce market has been geographically segmented into North America, Europe, Latin America, Africa, and Asia-Pacific. Asia Pacific dominates the market due to increase in disposable income and urbanization. Vietnam, Indonesia, Japan, China, and the Philippines are the major markets in this region. In North America, U.S. has the major market for fish sauce. In Europe, due to increase in demand for functional foods and dietary supplements, fish sauce market is expected to grow in the near future.

Fish Sauce Market: Key Player:

Some of the major players operating in fish sauce market include Tang Sang Ha Company Limited, Thaipreeda Group, TeoTak Sauce Factory Co., Ltd, Viet Phu, Inc, Thai Fish Sauce Factory (Squid Brand) Co., Ltd, Fish Marine Resources Development Co., Ltd., Rungroj Fish Sauce Co., Ltd. , Pichai Fish Sauce Co. Ltd., Rayong Fish Sauce Industry Co., Ltd. and Halcyon Proteins.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Fish Sauce Market

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