Caviar Market

Global Caviar Market Size

The global caviar market size was valued at USD 0.73 billion in 2023. The global market is further expected to grow at a CAGR of 9.59% from 2024 to 2032 and be valued at USD 1.66 billion by 2032 from USD 0.8 billion in 2024.

Caviar is a delicacy made from salted fish eggs of the Acipenseridae family of fish. Fish from this specific family in the Caspian and Black Seas are harvested for caviar. Of the twenty-six sturgeon species found in the world, the most valued caviar are the four that inhabit the Caspian Sea, including, from largest to smallest in size, the beluga (Huso huso), the osetra or Russian sturgeon (Acipenser gueldenstaedti), the sevruga or stellate (Acipenser stellatus), and the sterlet (Acipenser ruthenus). With rapid globalization and better connectivity, the dynamics of the import and export of goods have increased considerably. Demand for caviar has expanded worldwide with increased consumer purchasing power and the desire for exotic cuisines that will establish the caviar market more prominently, resulting in better CAGR during the outlook period. There are many types of caviar such as Sterlet, Beluga, American osetra, Kaluga hybrid, Ossetra, Sevruga, and Siberian sturgeon. It is the storage of the adult's daily requirement of vitamin B12, a rich source of vitamins A and D, high in cholesterol and salt. Commercial caviar production is involved in the stunning of the fish and extracting the ovaries. It has the consistency of butter that melts in your mouth and leaves a taste of the fresh ocean. With the major decline of their numbers in the Caspian Sea, sevruga and osetra are being farm-raised in ponds in Europe. Health benefits of the caviar-like increase in blood flow, presence of selenium which works as an antioxidant with vitamin E, high vitamin and nutritional elements, makes the body tone and also increases the level of hemoglobin, increases the body's tolerance to alcohol, growing health awareness, used as toppings for pancakes or eggs, increase in disposable income and technology advancements are driving the growth of the global caviar market. However, a lack of awareness and a limited number of skilled professionals are hampering the growth of the market.

MARKET DRIVERS

Changing the food habits of consumers and the popularization of foreign food items have affected the market positively. This market backed by the increasing disposable income of the consumers which allows middle-class people from developing countries to enjoy this delicacy. Television and print media has created a status symbol around caviar and this has tempted a lot of people to try Caviar for themselves. The Health Benefits of the product is a big reason for the growth of this market. The presence of omega-3 fatty acids, selenium, B12 vitamins, etc., has led to a call for caviar from pharmaceutical companies. Premium restaurants and big retail hotels have expanded globally to cater to the customers’ needs. Caviar is a highly sought-after product in these establishments. Improved trade between countries has allowed caviar to spread to places where it is not found naturally. Modern aquaculture and advanced harvesting techniques for the cultivation of caviar have boosted the market.

The growing awareness of the health benefits of caviar and its widespread applications in the food industry are the main factors driving the global Caviar market. Furthermore, the increase in per capita income in developing economies, especially in China, India, Brazil, and Mexico, allows consumers to increase their spending on caviar and related products. In recent years, the increasing market penetration of fishing companies to meet growing consumer demand has had a positive impact on market growth. Caviar is mainly a luxury food and is consumed as an appetizer. The need for sevruga, osetra, salmon, and sushi has increased significantly, and the industry in this region has advanced over the years. However, inexpensive caviar is widely available on the market and is consumed primarily by beginners for testing. It has a less intensely fishy flavor and is darker in color. 

Caviar is known to be rich in omega-3 fatty acids, selenium, and vitamin B12 and can be used to control impotence. For this reason, pharmaceutical companies are attracting the demand for caviar and its various extract products for the preparation of capsules, tablets, and liquid forms of drugs for consumers to overcome their deficiencies. The growing applications of dry caviar powder by food lovers and its use as a condiment or to sprinkle scrambled eggs, potatoes, pasta, and seafood are the key factors driving the growth of the global Caviar market. These factors have dramatically increased demand for the product, thus boosting the market for years to come. The method by which females are stunned and ovaries are removed to collect eggs without killing them is gaining popularity and is probably one of the reasons for the growth of the Caviar business. The construction of hydroelectric dams, overexploitation of sturgeons, slaughter and illegal fishing, and an increase in contamination with the toxic waste of rivers and seas are a few of the possible factors that have reduced the Acipenseridae fish family population in the last few years to a great extent. The decline in the fish population has led to a worrying decline in the caviar market.

MARKET RESTRAINTS

The weak economic conditions in the third world and developing countries can act as a major roadblock over the years. Many underdeveloped countries still do not have good exposure to caviar products, resulting in low sales in said markets . Economic instability and low GDP in the third world and developing regions are major factors slowing down the growth of this market. However, the effect of this block is expected to reduce over the forecast period. Construction of dams and other bodies along the river bodies, as well as toxic and plastic waste, has disturbed the breeding grounds of the fish population. This has led to a decline in production in certain areas. Overfishing, smuggling, and pollution have reduced the population of sturgeon. Cheap imitations of the Caviar have been seen in markets of China this has damaged the reputation of the original high-quality product.

REPORT COVERAGE

REGIONAL ANALYSIS

In 2023, the Asia-Pacific Caviar market dominated the global business, representing 30.4% of total turnover. The demand for sevruga, osetra, salmon, and sushi has increased significantly and the industry in this region has advanced over the years. Xiamen Qilei Industrial Co., Ltd., Jiamusi Import and Export Corp. China and Azuma Trading Co., Ltd. are among the primary producers of this product in the Caviar market. The health benefits associated with the product, the improved purchasing power of consumers, and the expansion of the distribution channel have increased the demand for different product variants in this region. In Japan, Miyazaki, the largest producer of beef and pork, began studying sturgeon farming in hopes that the fresh spring waters of Miyazaki would be an ideal place for caviar production without harming aquaculture. In Asia-Pacific, China held the highest market share of over 35.0% in 2018.

North America is foreseen to experience growth at a compound annual growth rate of 8.9% during the forecast period. Factors such as high consumer purchasing power, developed economies, and the perception of caviar as a luxury product should drive the growth of the Caviar market in this area. Many people in the United States suffer from obesity and diabetes. Caviar pate is a rich source of nutrients like vitamins and phosphorus, and the intake of these nutrients helps treat diabetes and obesity, resulting in a demand for products in this region. The presence of large companies such as Caviar and California Caviar Company is also stimulating growth in the local market.

KEY PLAYERS IN CAVIAR MARKET

Key players in the caviar market are Kaluga Queen, California Caviar Company, Sterling Caviar, Agroittica Lombarda, Coastal Bay Seafood, Avori Caviar, American Pearl Caviar, Russian Caviar House

MARKET SEGMENTATION     

This research report on the global caviar market has been segmented and sub-segmented based on Type, Application, & region.        

By Product Type

• Acipenser Baerii Caviar
• Acipenser Gueldenstaedtii Caviar
• Acipenser Transmontanus Caviar
• Acipenser Hybrid Caviar
• Others

By Application

• Restaurants
• Households
• Others

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa