Brazil: Market for Caviar (Salmon) And Caviar Substitutes 2024

Market Size for Caviar (Salmon) And Caviar Substitutes in Brazil

The Brazilian market for caviar (salmon) and caviar substitutes was finally on the rise to reach $X in 2021, after five years of decline. Overall, consumption, however, continues to indicate a abrupt downturn. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Production of Caviar (Salmon) And Caviar Substitutes in Brazil

In value terms, caviar (salmon) and caviar substitutes production dropped to $X in 2021 estimated in export price. Overall, production, however, saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2015 with an increase of 8.2%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Exports of Caviar (Salmon) And Caviar Substitutes

Exports from Brazil

In 2021, shipments abroad of caviar (salmon) and caviar substitutes decreased by -48.1% to X kg, falling for the fourth year in a row after four years of growth. Over the period under review, exports, however, posted a resilient increase. The pace of growth was the most pronounced in 2014 with an increase of 250%. Over the period under review, the exports attained the peak figure at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, caviar (salmon) and caviar substitutes exports dropped markedly to $X in 2021. Overall, exports, however, saw prominent growth. The most prominent rate of growth was recorded in 2014 when exports increased by 197% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

The United States (X kg) was the main destination for caviar (salmon) and caviar substitutes exports from Brazil, accounting for a 84% share of total exports. Moreover, caviar (salmon) and caviar substitutes exports to the United States exceeded the volume sent to the second major destination, Spain (X kg), fivefold.

From 2012 to 2021, the average annual growth rate of volume to the United States totaled +17.8%.

In value terms, the United States ($X) remains the key foreign market for caviar (salmon) and caviar substitutes exports from Brazil, comprising 94% of total exports. The second position in the ranking was held by Spain ($X), with a 6.1% share of total exports.

From 2012 to 2021, the average annual growth rate of value to the United States stood at +14.6%.

Export Prices by Country

In 2021, the average export price for caviar (salmon) and caviar substitutes amounted to $X per ton, increasing by 9.8% against the previous year. Overall, the export price, however, recorded a perceptible downturn. The most prominent rate of growth was recorded in 2020 an increase of 27%. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was the United States ($X per ton), while the average price for exports to Spain totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (-2.6%).

Imports of Caviar (Salmon) And Caviar Substitutes

Imports into Brazil

In 2021, imports of caviar (salmon) and caviar substitutes into Brazil soared to X tons, growing by 28% compared with 2020. Over the period under review, imports recorded significant growth. The pace of growth was the most pronounced in 2016 with an increase of 90%. Imports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, caviar (salmon) and caviar substitutes imports soared to $X in 2021. Overall, imports enjoyed a significant increase. The pace of growth appeared the most rapid in 2016 with an increase of 99% against the previous year. Imports peaked in 2021 and are expected to retain growth in the near future.

Imports by Country

In 2021, the United States (X tons) constituted the largest supplier of caviar (salmon) and caviar substitutes to Brazil, accounting for a 41% share of total imports. Moreover, caviar (salmon) and caviar substitutes imports from the United States exceeded the figures recorded by the second-largest supplier, Spain (X kg), twofold. The third position in this ranking was taken by Sweden (X kg), with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States totaled +37.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+18.0% per year) and Sweden (+27.9% per year).

In value terms, Spain ($X), the United States ($X) and Sweden ($X) appeared to be the largest caviar (salmon) and caviar substitutes suppliers to Brazil, together accounting for 67% of total imports.

The United States, with a CAGR of +43.7%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average import price for caviar (salmon) and caviar substitutes amounted to $X per ton, with an increase of 45% against the previous year. Overall, the import price showed a relatively flat trend pattern. The import price peaked at $X per ton in 2017; afterwards, it flattened through to 2021.

Prices varied noticeably country of origin: the country with the highest price was Spain ($X per ton), while the price for Norway ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (+6.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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