The global caviar market demand stood at USD 854.0 million in 2018.Furthermore, the market is anticipated to showcase a remarkable growth with a CAGR of 9.8% by the end of 2025. Caviar is regarded as among the priciest delicacies which is obtained from sturgeon species. Strong brand reputation of the product is the key factor to drive the caviar demand over the forecast period.
Caviar is originated from the roe or eggs of the sturgeon species. Sturgeon species were mainly found in the territories of Eurasia and Mediterranean. The product has gained popularity of being a priced delicacy owing to rare presence of sturgeon species as well as its unique taste. Caviar is known for its lightly salted taste which gives unique flavor of Fresh Ocean. Specific species such as beluga, stellate and Russian sturgeon are considered as the most unique and hence most expensive species.
Caviar is popularly used as an appetizer, spread or garnish across several dishes. It is widely adopted in the European and North American cuisine. Growing purchasing power of consumers around the world is among the major key factor which has propelled the demand caviar. Consumer inclination for luxury food products has propelled the demand for caviar in the household segment. An ongoing trend for dining out culture along with increasing popularity of international cuisine is fueling the demand for such foods. These factors are projected to propel the caviar demand over the forecast period.
Caviar is regarded as one of the most priced animal foods owing to which the price of the product is considerably high. Therefore, this delicacy is affordable mainly by the elite class. This factor has led to the adoption of substitutes of caviar such as lumpfish roe, vendace caviar, soy pearls, faux caviar which are projected to act as an impediment to the caviar industry growth. Apart from this, illegal trading of caviar across the globe is also hampering the market growth to full scale. Although stringent regulations by CITES have lowered illegal threat up to a large extent, illegal trading and selling of caviar is still prevalent across some parts.
Caviar Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2025||USD 854.0 million|
|Growth Rate||CAGR of 9.8% during 2021-2028|
|Segment Covered||Fish type, Product Type, End-use, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East & Africa|
|Key Players Profiled||Caviar Co., Agroittica Lombarda SPA, Delicatessen Snailex s.r.o, Caviar of France, Sterling Caviar LLC, and Caviar Blanc|
Key segments of the global caviar market
Fish type Overview, 2015-2025 (USD Million) (Tons)
- Acipenser Baerii caviar
- Acipenser Transmontanus caviar
- Acipenser Transmontanus caviar
Product Type Overview, 2015-2025 (USD Million) (Tons)
- Malossol caviar
- Salted caviar
- Pressed caviar
- Pasteurized caviar
End-use Overview, 2015-2025 (USD Million) (Tons)
Regional Overview, 2015-2025 (USD Million) (Tons)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Central & South America
- Middle East & Africa
Reasons for the study
- The purpose of this market research study is to give an in-depth outlook of the caviar industry
- We have been analyzing various trends pertaining to the caviar industry in the last few years, especially salted caviar demand, which has recently been on the rise in Europe and North America
- Stringent regulations for caviar culture and breeding has brought significant changes in the industry for quite some time, even though demand is on the rise
- Shift in consumer behavior for adopting high end products, especially in developing countries is also a key factor to augment the demand for caviar over coming years
What does the report include?
- The global caviar market study is inclusive of various qualitative trends that have impacted the market growth of caviar recently
- The report includes key trends such as drivers, limitations, and opportunities, along with an import-export overview depicting international trade scenario
- Industry analysis and evaluation has been done using value chain and Porter’s Five Forces’ analysis tools
- Global market has been classified on the basis of fish type, product type, end-use, and region. The market categorization has been drilled down further at the country level for each of the regions.
- Actual market sizing and forecast figures have been provided for the industry segments mentioned above
- Business overview and recent developments for key players have been covered under the company profiles section of the report
Who should buy this report?
Key buyers of this report include:
- Industry participants and investors who are interested in understanding current and future market growth of the caviar sector
- Product manufacturers and suppliers operating in the supply chain
- Managers in financial institutions that are looking for financial opportunities
- Government organizations and national regulatory firms, and policymakers
- Independent consultants and analysts, company strategy planners, and academic institutions that are interested in understanding the current and future demand patterns
The surge of e-commerce has changed the retail landscape of many industries. Food, fashion, and household products are the most impacted industries from this development. With the changing retail landscape across the globe, the caviar industry has also witnessed a significant change in terms of product sales and distribution.
1. Growing prominence of online sales channels
As the availability of caviar has increased over the years, the product is increasingly available via online and offline retail channels. Through the online channel, the caviar is sold directly by the caviar producers as well as through online retailers. As caviar is a highly expensive and a perishable product, the online shoppers tend to prefer established and famous online stores that assure the quality of appropriate storage and ensure the authenticity of true caviar. Direct selling from caviar producers is also on the rise, especially in Europe and North America. Some of the key online retailers of caviar are Browne Trading Company, Russ & Daughters, Caviar Russe, Petrossian, Tsar Nicoulai, Seattle Caviar Company among others.
2. Increasing availability of caviar in supermarkets
Caviar is witnessing high demand from both online and offline retail channel. Caviar sales go record high during the festive season. With the falling prices of caviar due to increased production, the caviar is now increasingly affordable to the upper middle class. The consumer inclination for buying caviar is one of the key consumer behaviors towards “aspirational food shopping”. Rising income disparity across many regions is also supporting caviar growth due to the growing number of wealthy population. Luxury retailers, such as Fortnum and Mason, in the UK, announced surprisingly high sales of caviar in 2014 in the festive season. Discount retailers, such as Aldi and Lidl are also witnessing demand for delicacies like caviar.
The caviar market, by product type, is categorized as Malossol caviar, pressed caviar, salted caviar, and pasteurized caviar. Malossol caviar dominated the caviar industry with over 35% market share in 2018. Malossol caviar has been considered as one of the highest quality of caviar owing to its sophisticated processing which preserves the natural flavor and consistency of caviar. Therefore, owing to high consumer adoption, the malossol caviar is projected to show noteworthy growth over the forecast period. Salted caviar is anticipated to witness remarkable growth with a CAGR of approximately 10% in the future.
On the basis of end-use, the global caviar market is categorized into restaurants and household segments. Restaurant segment is projected to continue being the significant segment, owing to the growing popularity of authentic cuisines across the globe. However, the household section is also witnessing remarkable growth mainly owing to falling prices, increasing local availability and growing customer inclination for “aspirational shopping”.
Upon the study of regional trends, caviar market analysis showed that Europe was the largest consumer, accounting for over one-third of the global caviar market in 2018. Germany and France are among the top consumers of caviar in the region. North America is also projected to account for a significant share of the global caviar market by 2025. The US is among the major consumers of caviar. The US caviar market is projected to witness strong growth on account of the high popularity of caviar coupled with a strong purchasing power of consumers.
Asia Pacific is anticipated to witness the fastest growth in consumption of caviar in the coming years. As China entered the market place a few years ago, the country has become the largest producer and exporter of caviar in the world. The Middle East is also witnessing remarkable growth for caviar demand, owing to factors such as increased consumer spending for luxurious food. In February 2016, SEAFEX, region’s professional seafood show in organized in Dubai, witnessed the presence of a large number of manufacturers from China for the first time as a highly targeted promotion in the Middle East.
Asia Pacific: the untapped potential for caviar industry
APAC is one of the fastest growing markets for luxury food products across the globe. Strengthening economy along with rising wealth disparities has created individuals of high net worth. This scenario has propelled the demand for luxury foods such as caviar in recent years. China and Japan have the highest population with individuals of greater income. It is also evident that the demand for these products is high in tier-1 cities that have greater fine dining establishments. China and Japan are the top consumers of caviar in the region with China being the largest exporter of caviar in the world. In the Asia Pacific, China, Japan followed by India, Malaysia, Singapore, and Australia are the top consumers of caviar in the region. Overall, the demand for caviar in Asia Pacific region is projected to show remarkable growth with CAGR of 15% in terms of volume over the forecast period.