Fish Sauce Market To Grow at 4.4% CAGR by 2034

Overview

New York, NY – June 09, 2025 – The Global Fish Sauce Market is growing fast, driven by rising demand for flavorful and umami-rich condiments in cooking. In 2024, the market was valued at USD 3.4 billion and is expected to reach USD 5.2 billion by 2034, growing at a CAGR of 4.4% from 2025 to 2034.

In 2024, Anchovy dominated the global fish sauce market with a 45.6% share, driven by its deep umami flavor and strong ties to traditional fermentation practices in Southeast Asian countries like Vietnam and Thailand. Conventional fish sauce led the market in 2024, holding a 69.4% share. It’s widespread availability, affordability, and large-scale production using standard fermentation methods, often with added preservatives or flavor enhancers.

The Food and Beverage sector commanded a 56.1% share of the fish sauce market in 2024. Its prominence stems from fish sauce’s integral role in cooking, serving as a seasoning, marinade. Supermarkets and Hypermarkets captured a 47.9% share of the global fish sauce market in 2024. Their dominance is due to extensive reach, consistent stock, and the convenience of offering diverse brands.

Key Takeaways

• Fish Sauce Market size is expected to be worth around USD 5.2 billion by 2034, from USD 3.4 billion in 2024, growing at a CAGR of 4.4%.
• Anchovy held a dominant market position, capturing more than a 45.6% share in the global fish sauce market.
• Conventional held a dominant market position, capturing more than a 69.4% share in the fish sauce market.
• Food and Beverages held a dominant market position, capturing more than a 56.1% share in the fish sauce market.
• Supermarkets & Hypermarkets held a dominant market position, capturing more than a 47.9% share in the global fish sauce market.
• Asia-Pacific (APAC) region is the cornerstone of the global fish sauce market, commanding a dominant share of approximately 75.5% in 2024, equating to an estimated market value of USD 12.8 billion.

How Growth is Impacting the Economy

• The Fish Sauce Market’s growth significantly impacts economies, particularly in Southeast Asia, where countries like Vietnam, Thailand, and the Philippines dominate production. Vietnam’s Phu Quoc fish sauce, with its EU Protected Designation of Origin status, boosts exports, enhancing local economies and preserving cultural heritage.
• Rising global demand for ethnic cuisines increases foreign exchange earnings through exports. The growth of e-commerce platforms expands market access, fostering economic activity in retail and logistics. However, high production costs and sustainability concerns challenge small-scale producers, necessitating investment in eco-friendly practices to maintain economic viability.

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Strategies for Businesses

• Businesses should focus on product diversification, offering organic, gluten-free, and low-sodium fish sauce variants to meet health-conscious consumer demands. Leveraging e-commerce platforms can enhance global reach, with competitive pricing and detailed product descriptions to attract buyers.
• Emphasizing Geographical Indications, like Vietnam’s Phu Quoc, can boost brand authenticity and premium pricing. Sustainable sourcing and traditional fermentation methods can appeal to environmentally conscious consumers. Strategic partnerships with restaurants and food manufacturers can drive bulk sales, while marketing campaigns highlighting health benefits and culinary versatility can expand market share.

Report Scope

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Key Market Segments

By Fish Type

• In 2024, Anchovy dominated the global fish sauce market with a 45.6% share, driven by its deep umami flavor and strong ties to traditional fermentation practices in Southeast Asian countries like Vietnam and Thailand. Anchovy-based fish sauce remains a top choice for both home cooks and commercial kitchens due to its authentic taste.

By Nature

• Conventional fish sauce led the market in 2024, holding a 69.4% share. Its widespread availability, affordability, and large-scale production using standard fermentation methods, often with added preservatives or flavor enhancers, make it a popular choice, especially in regions where fish sauce is a daily staple.

By Application

• The Food and Beverage sector commanded a 56.1% share of the fish sauce market in 2024. Its prominence stems from fish sauce’s integral role in cooking, serving as a seasoning, marinade, and flavor enhancer in traditional Asian dishes and global fusion cuisine, from street food to high-end restaurants.

By Distribution Channel

• Supermarkets and Hypermarkets captured a 47.9% share of the global fish sauce market in 2024. Their dominance is due to extensive reach, consistent stock, and the convenience of offering diverse brands, making them the preferred choice for consumers purchasing fish sauce during regular grocery trips.

Regional Analysis

• In 2024, the Asia-Pacific (APAC) region dominated the global fish sauce market, holding a 75.5% share valued at approximately USD 12.8 billion. This leadership is driven by the region’s rich culinary heritage, with fish sauce being a vital ingredient in cuisines across Thailand, Vietnam, and the Philippines.
• Vietnam stands out as a key player, renowned for its premium fish sauces, such as Phú Quốc, which has earned the European Union’s Protected Designation of Origin (PDO) status, highlighting its authenticity and global cultural significance. Thailand also significantly contributes to the region’s dominance, serving as a major exporter with popular brands like Squid and Tiparos. In 2021, Thailand imported around 1.6 million tons of fish products, supporting its robust production of fish sauce for both local and international markets.

Recent Developments

1. Halcyon Proteins Pty Ltd

• Halcyon Proteins, an Australian leader in fish-derived products, has expanded its fish sauce production with sustainable sourcing initiatives. The company focuses on high-quality, allergen-free fish sauce variants to cater to health-conscious consumers. Recent investments in fermentation technology have improved flavor profiles and shelf life. Halcyon also collaborates with Southeast Asian chefs to promote fish sauce in Western cuisine.

2. Hung Thanh Co. Ltd.

• Vietnam-based Hung Thanh has introduced organic-certified fish sauce, targeting premium global markets. The company has enhanced its export capabilities, particularly to the U.S. and EU, by meeting strict food safety standards. Recent product innovations include low-sodium and sugar-free fish sauce for health-focused consumers. Hung Thanh also launched eco-friendly packaging to reduce environmental impact.

3. Marine Resources Development Co., Ltd.

• Thailand’s MRD has invested in automated fermentation processes to boost fish sauce production efficiency. The company introduced a new premium fish sauce line with extended aging periods for deeper umami flavor. MRD is also expanding into halal-certified fish sauce to capture Middle Eastern markets. Partnerships with global retailers have strengthened its distribution network.

4. Masan Consumer Corporation

• Masan, a leading Vietnamese FMCG company, has rebranded its Chin-Su fish sauce with modern packaging and added gourmet variants. The company is leveraging e-commerce to reach international consumers, particularly in the U.S. and Europe. Masan also emphasizes sustainability by reducing salt content without compromising taste. Recent ad campaigns highlight fish sauce’s versatility in global cuisines.

5. PHETDAMFOODS CO., LTD

• Thailand’s Phetdam Foods has launched artisanal fish sauce made from wild-caught anchovies, targeting high-end restaurants. The company introduced single-origin fish sauce with traceability features to appeal to premium buyers. Phetdam is also expanding into ready-to-use fish sauce blends for convenience-seeking consumers.

Conclusion

The Fish Sauce Market is set for steady growth, with demand driven by the rising popularity of Asian cuisine, health-conscious trends, and innovative product offerings. Key factors fueling this expansion include increased use in ready-to-eat meals, gourmet cooking, and healthier low-sodium variants. Companies are also focusing on sustainable sourcing, premiumization, and eco-friendly packaging to attract modern consumers. Emerging markets in North America and Europe present significant opportunities as global palates embrace bold, umami-rich flavors.

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