Fish Sauce: Market Outlook
The sauce is important in the Thai cooking methodologies. The fish sauce is an important sauce which is used in major recipes of Thai Cooking. The fish sauce is made from the salt and fermented fish and it is brown liquid with particular smell. It is used as the sides in the various cuisine dishes. The industrial production of the fish sauce includes various ingredients such as flavors, fish essence, preservatives, sweeteners and colors. Fish sauce is considered as an important ingredient in the regions like South Asia and East Asia. Vietnam is the leading consumer of the fish sauce. The producers of fish sauce from Vietnam consider the traditional fish for making fish sauce as the traditional fish have higher amount of nitrogen coupled with many other health benefits.
The consumers are getting more health conscious and hence the producers of fish sauce are forced to use the traditional fishes for the production of fish sauce in the Vietnam. The Chinese cooking methodology considers fish sauce as the soy sauce and western cooking methodology used it as a salt in their food preparations. The fish sauce is the main ingredients in the making of soups and also used as the dipping condiment and used during the cooking process in the southern parts of china.
Increasing Trend of Seasoning is Driving the Growth for the Fish Sauce Market
Seasoning is become an integral and important item on the dining table across the world. The fish sauce is the highest consumed seasoning in the world. Thus increasing demand for the seasoning around globe is expected drive the demand for the fish sauce market. The traditional produces of the fish sauce are forced use only traditional products as the scandal in the year 2007 is the bad experience for the fish sauce producers. Some of the fish sauce producers are found guilty for mixing the toxic chemical ingredient in production of fish sauce. The consumers are also willingly pay higher cost for the fish sauces as the quality of the product and safety is more important for the consumers. This gives rise to the premium fish sauce products and brands.
The producers of the fish sauces are introducing the product in the different packaging materials and styles which influences the consumers towards consumption of fish sauce. This is expected to drive the market growth of the fish sauce over the forecasted period. The increasing non-vegetarian population due to high nutritional content is expected to increase the demand for fish sauce. On the other hand, increasing number of substitutes for the fish sauce, added preservatives and sweeteners and increasing number of vegan population are hindering the market growth for the fish sauce market.
The Asian countries are expected to dominate the market as the urbanization and the increasing disposable income are the factors which are expected to growth the market in Asia Pacific region. The Asian countries such as Japan, Vietnam, China, Indonesia and Philippines are the mature markets for the fish sauce across the globe. The increase in the demand for the nutritional food and functional food in the U.S. and Europe, the demand for fish sauce is expected to increase over the forecasted period but at the same time increasing vegan population in these countries are hindering the market growth of the fish sauce market in these regions.
Global Fish Sauce Market: Market Segmentation
On the basis of Products Type, global fish sauce market has been segmented as,
On the basis of Nature, global fish sauce market has been segmented as,
On the basis of Application, global fish sauce market has been segmented as,
On the basis of Distribution Channel, global fish sauce market has been segmented as,
Global Fish Sauce Market: Market Participants
The market participants in the global fish sauce market identified across the value chain includes Thaipreeda Group, Viet Phu, Inc, Tang Sang Ha Company Limited, Thai Fish Sauce Factory (Squid Brand) Co., Ltd, TeoTak Sauce Factory Co., Ltd, Fish Marine Resources Development Co., Ltd., Pichai Fish Sauce Co. Ltd., Rungroj Fish Sauce Co., Ltd., Halcyon Proteins, and Rayong Fish Sauce Industry Co., Ltd. among the other fish sauce manufacturers.