Technavio released a report detailing the growth of the fish sauce market, which will be progressing at a CAGR of 6.83% during the forecast period of 2023-2028. The primary factor driving this growth is an increasing preference for convenience in cooking, as per the report.
Let's delve into some specifics about what is influencing the increase in demand for fish sauce. According to a Cision's PR Newswire article, the fish sauce market Is being driven by primarily an increasing preference for convenience in cooking. Specifically, the industrial fish market will be growing during the analysis period of 2023-2028. A newer modified version of traditional fish sauce is used in convenience cooking globally. These products are produced in large quantities and include flavorings, preservatives, food coloring, and other artificial ingredients. Many consumers are now preferring industrial fish sauce to traditional sauces because of its convenience.
Now let's take a closer look at what exactly this much-demanded condiment entails. According to an article from Bon Appetit, fish sauce is a sauce made from fish products that is used widely in many cuisines. It is made from the process of fermenting fish for either a few months to a few years. Usually fish like anchovies are used; they are covered in salt and put in large barrels to hang out and ferment. The bacteria eventually begin to break down the fish and create a savory liquid which is the base for fish sauce. This process of fermentation has been used by numerous cultures, however, this sauce is most commonly associated with Southeastern Asian cuisines. The sauce is used in dishes like larb, Vietnamese marinated meats, green papaya salad, stir-fries, and pad thai.
Finally, we should consider the source of this information to understand their expertise in the subject. According to their online About Us page, Technavio is a leading global market research report company. They focus on creating intelligible and calculated market reports. "Technavio is based on four simple principles: easy-to-access reports, robust industry coverage, a focus on new and emerging technologies, and competitive pricing. We believe in helping companies and executives become better equipped to make faster, sounder, and more effective decisions." They began making personalized reports in 2003, and created their first ready-made report in 2008.