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The caviar market size is estimated to grow at a CAGR of 7.52% between 2022 and 2027. The size of the market is forecast to increase by USD 387.6 million. The market's growth depends on several factors, including a wide range of applications of caviar in households and restaurants, the health benefits of caviar and new methods of processing caviar. With its delectable taste and numerous nutritional benefits, caviar has become increasingly popular in fine cuisine, leading to rising demand in the food and beverage industry. Beyond the food sector, caviar finds applications in the cosmetics and skincare industries due to its rich concentration of antioxidants and moisturizing omega-3 fatty acids. As a result, it is used to nourish and protect the skin, enhancing texture and elasticity. These factors are expected to fuel market growth in the forecast period.
This market report extensively covers market segmentation by product (inorganic caviar and organic caviar), distribution channel (hypermarkets and supermarkets, independent retailers, specialty stores, and others), and geography (Europe, North America, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The growing prominence of aquaculture-grown sturgeon caviar will fuel the global caviar market growth. As the population of wild sturgeon is declining due to its over-exploitation for caviar processing, the players in the market are now resorting to the harvesting of sturgeon grown in aquaculture farms. The production of sturgeon in aquaculture farms is increasing due to the growing demand for caviar products.
China dominates global sturgeon production via aquaculture, with a share of over 85%. Other prominent producers of aquaculture-farmed sturgeon are Russia and the EU. Caviar sales account for over 80% of the revenue in the sturgeon aquaculture industry. In terms of market share, the EU will be the largest producer of aquaculture-reared sturgeon caviar, followed by China. Hence, the rising prominence of aquaculture-grown sturgeon caviar is expected to fuel the growth of the market during the forecast period.
The presence of substitute products is a major challenge to the global caviar market growth. The availability of substitute products for caviar is a challenge for the growth of the market. As the price of caviar products is very high and as they are not easily unavailable, consumers are increasingly turning to substitutes.
The original caviar is processed from the eggs of the sturgeon. Caviar substitutes are derived from the eggs of other fish, such as salmon, trout, paddlefish, and golden whitefish. The caviar substitutes made from these fish varieties taste similar to the original caviar. Hence, the above-mentioned factors are expected to hamper the growth of the market during the forecast period.
The market share growth by the inorganic caviar segment will be significant during the forecast period. The inorganic caviar segment dominated the market. The relatively low price of inorganic caviar, when compared with that of organic caviar, is driving the sale of the products in the market.
The inorganic caviar segment showed a gradual increase in market share from USD 487.03 million in 2017 .
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Most of the caviar sold in the market is grown organically. The players in the market use hormones and other medications to speed up the maturation cycle of the product. Sturgeon has a long maturation period of 7-8 years, and by using medications and other methods, the producers speed up the process to get an early harvest. Furthermore, our report provides a brief analysis of the historical and forecast market share and their segment along with their reasons for growth from 2017 to 2027. The growth of this segment is primarily attributed to the increasing adoption of Caviar, which is driven by an increase in the global demand for the Caviar Industry.
Europe is projected to contribute 34% by 2027.
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Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
In the European market, the demand for caviar is very high, with the supply side falling short. The rising illegal trade of caviar is another challenge to the growth of this market. The European Union (EU) is the biggest importer and also one of the largest consumers of caviar globally. The demand for organic caviar is also increasing among consumers in Europe. The ban on sturgeon fishing has led to the growth of sturgeon farms in the region. Europe has the highest number of sturgeon farms globally, and this is expected to increase further during the forecast period. It is estimated that nearly 47% of the world's sturgeon farms are situated in the region. Italy has emerged as the largest exporter of caviar in Europe; the demand for caviar in the domestic market is also increasing. Brescia accounts for most of Italy's caviar production. The demand for Italian caviar is high around the globe as consumers associate Italy with luxury products.
The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Caviar Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Agroittica Lombarda - The company offers caviar under the Calvisius Caviar, Cavalier Caviar Club, and Ars Italica Caviar brands. Also, the company offers Caviar brands such as Calvisius Caviar, Cavalier Caviar Club, and Ars Italica Caviar
The market report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. The market has been segmented by type, product, distribution channel, and region.
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Caviar Market Scope |
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Report Coverage |
Details |
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Page number |
155 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 7.52% |
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Market growth 2023-2027 |
$ 387.6 million |
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Market structure |
Fragmented |
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YoY growth (%) |
7.26 |
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Regional analysis |
Europe, North America, APAC, South America, and Middle East and Africa |
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Performing market contribution |
Europe at 34% |
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Key countries |
US, China, Japan, Russia, and Italy |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Agroittica Lombarda SpA, California Caviar Co. LLC, Caviar Blanc, Caviar de France, Caviar India Inc., Fortuna XXI, GRUPO OSBORNE SA, Hangzhou Qiandao Lake Sturgeon Technology Co. Ltd., Karat Caviar, LOsage Caviar Co. Inc., Midwest Caviar LLC, Northern Divine Aquafarms Ltd., Russian Caviar House LLP, Sasanian Caviar Inc., SEPEHR DAD CAVIAR GmbH, Sterling Caviar LLC, The Caviar Co., and Amur Caviar Co. Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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