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The caviar market size is estimated to increase by USD 387.6 million and grow at a CAGR of 7.52% between 2022 and 2027. The market's growth depends on several factors, including a wide range of applications in households and restaurants, the health benefits and new methods of processing. The market is experiencing a surge in popularity, driven by its exquisite taste and abundant nutritional benefits, making it highly sought after in the food and beverage industry. Beyond culinary delights, caviar finds applications in skincare and cosmetics, thanks to its antioxidant-rich composition and moisturizing omega-3 fatty acids. This makes it a prized ingredient for nourishing and rejuvenating the skin, enhancing its texture and elasticity. As demand grows across various sectors, including pharmaceuticals, caviar producers are witnessing increased interest in their products. However, concerns regarding environmental impact, particularly related to sturgeon farming and habitat destruction, necessitate sustainable practices. Regulations such as CITES aim to protect native sturgeon species from exploitation and mitigate water pollution risks associated with aquaculture businesses. These factors underscore the market's potential for growth while highlighting the importance of responsible sourcing and consumption practices.
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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.
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, which is driven by an increase in the global demand for the 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 is very high, with the supply side falling short. The rising illegal trade is another challenge to the growth of this market. The European Union (EU) is the biggest importer and also one of the largest consumers 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 in Europe; the demand in the domestic market is also increasing. Brescia accounts for most of Italy's production. The demand for Italian caviar is high around the globe as consumers associate Italy with luxury products.
The Market, intersecting with the fishing, food & beverage, skincare, and pharmaceutical industries, revolves around the prized delicacy obtained from sturgeon. Rich in antioxidants like vitamin A, E, B6, and B12, alongside essential omega-3 fatty acids, caviar holds a unique appeal for its health benefits. Pharmaceutical manufacturers are exploring caviar extract for skincare and nutraceutical applications, capitalizing on its high mineral content including iron and selenium. However, concerns regarding environmental impact loom large, driven by habitat destruction and water pollution from sturgeon farming. Balancing the demand for luxury food experiences with sustainability efforts is crucial, especially with the presence of non-native sturgeon species threatening native populations. Regulatory measures like CITES play a pivotal role in ensuring the preservation of sturgeon populations and sustainable caviar production.
The growing prominence of aquaculture-grown sturgeon caviar will fuel the global market growth. As the population of wild sturgeon is declining due to its over-exploitation for 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 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 market growth. The availability of substitute products is a challenge for the growth of the market. As the price of the 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. Its substitutes are derived from the eggs of other fish, such as salmon, trout, paddlefish, and golden whitefish. The 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 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 Market Customer Landscape
Companies 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 players, 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.
The Market is a multifaceted industry intersecting with various sectors, including fishing companies, the food and beverage industry, and skincare and cosmetics industries. Rich in antioxidants like Vitamin A, E, and B12, caviar holds allure in the pharmaceutical sector for its potential health benefits. From Sevruga to Beluga, contractual agreements and investments drive collaboration among caviar producers. However, concerns over sturgeon conservation loom large, with habitat destruction and water pollution threatening native species. Despite environmental impacts, rising awareness of caviar's culinary and health advantages persists. Gourmet food enthusiasts relish its delicious and nutritious qualities, while the luxury segment indulges in fine dining experiences featuring gourmet caviar products, highlighting its status as a symbol of opulence and refinement.
Moreover, the market encompasses a luxurious niche within the food and beverage industry, with a strong presence in the skincare and cosmetics industry due to its antioxidant-rich properties. Caviar extract, particularly from coveted species like Osetra and Sevruga sturgeon, is prized for its high levels of vitamins and minerals, including Vitamin B6, Vitamin E, Vitamin B12, and selenium. However, concerns over sustainability loom large, with sturgeon fish farms facing scrutiny over non-native species and conservation efforts regulated by CITES quotas and zoning requirements. Despite challenges such as wastewater discharge and escapees, the market thrives on its association with gourmet and luxury food experiences, offering a range of flavors from fresh to preserved varieties like truffle-infused or saffron-infused caviar, catering to discerning palates worldwide.
Market Scope |
|
Report Coverage |
Details |
Page number |
155 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.52% |
Market growth 2023-2027 |
USD 387.6 million |
Market structure |
Fragmented |
YoY growth (%) |
7.26 |
Regional analysis |
Europe, North America, APAC, South America, and Middle East and Africa |
Performing market contribution |
Europe at 34% |
Key countries |
US, China, Japan, Russia, and Italy |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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. |
Market dynamics |
Parent market analysis, Market forecasting, 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 |
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
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