Global Caviar Market Register at a CAGR of 8.78 % by 2022.
Global Caviar Market:
An expensive delicacy comprising of unfertilized eggs (roe) of a sturgeon fish, brined with salt solution is called caviar. Originally, from Iran and Russia, it is cultivated by commercial fisherman working in the Caspian Sea. Of the lot, a species from the Beluga is supposed to be the best in the world. There are other variants like Osetra, Sevruga, Kaluga, Salmon, Sushi and others. It can be provided fresh, preserved, frozen, dried or cooked. It is available in gourmet speciality shops, wine stores, supermarkets and via e-commerce lately. Recently, apart from restaurants, households are big into using caviar as a dish and the dish has transcended being viewed as just a luxury dish.
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The world market was valued at USD 254 million in 2017 and is estimated to grow at a CAGR of 8.78% to reach USD 500 million in the next 5 years. The market is studied in the regions of North America, Europe, Asia Pacific, South America, and Middle East and Africa. Based on consumption, Europe and USA are the main markets due to their advanced production technology and rapid development of the booming economy. Also, the luxury foods market is over $1 trillion in the US and this further is a reason for its growth. Caviar, claimed to be of wild origin, is not at all sold in China, although is openly sold and traded in Germany and France. The global caviar market is extremely fragmented with many small and large players.
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Major Key Players in Global Caviar Market:
Some of the key players are Caviar de France, Sterling Caviar, Agriottica Lombarda, California Caviar Company, etc. Quality, innovation, and price are the parameters players, big or small, are competing on. Organic and inorganic caviar markets are both booming with inorganic taking the lead because of its inexpensive status.
It is believed that this market is going to keep growing. However, with the extinction of the sturgeon and the costs involved in harvesting caviar using technology, the market looks dicey. Poaching and illegal trade is further causing issues for the global market. A new variant called the vegan variety has also hit the market which is made of a unique formula of seaweed, available in oceans and is an option for vegans and vegetarians. Therefore, this just goes on to show how the market is expanding slowly and with companies trying to collaborate and use technology to lower the prices, which will keep the market going in the years to come.
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