Eastern Europe: Market for Caviar (Salmon) And Caviar Substitutes 2024

Market Size for Caviar (Salmon) And Caviar Substitutes in Eastern Europe

In 2021, the East European market for caviar (salmon) and caviar substitutes increased by 0.8% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of +5.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Production of Caviar (Salmon) And Caviar Substitutes in Eastern Europe

In value terms, caviar (salmon) and caviar substitutes production rose to $X in 2021 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of 20% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2021, production growth remained at a lower figure.

Exports of Caviar (Salmon) And Caviar Substitutes

Exports in Eastern Europe

In 2021, approx. X tons of caviar (salmon) and caviar substitutes were exported in Eastern Europe; picking up by 13% compared with the previous year. The total export volume increased at an average annual rate of +4.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 with an increase of 20% against the previous year. The volume of export peaked in 2021 and is likely to see steady growth in years to come.

In value terms, caviar (salmon) and caviar substitutes exports skyrocketed to $X in 2021. Total exports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Belarus represented the major exporter of caviar (salmon) and caviar substitutes in Eastern Europe, with the volume of exports resulting at X tons, which was approx. 78% of total exports in 2021. It was distantly followed by Russia (X tons), mixing up a 17% share of total exports. The following exporters - Lithuania (X tons) and Latvia (X tons) - each reached a 3.1% share of total exports.

Exports from Belarus increased at an average annual rate of +2.3% from 2012 to 2021. At the same time, Latvia (+31.9%), Russia (+16.8%) and Lithuania (+9.2%) displayed positive paces of growth. Moreover, Latvia emerged as the fastest-growing exporter exported in Eastern Europe, with a CAGR of +31.9% from 2012-2021. From 2012 to 2021, the share of Russia increased by +11 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Belarus ($X) remains the largest caviar (salmon) and caviar substitutes supplier in Eastern Europe, comprising 65% of total exports. The second position in the ranking was taken by Russia ($X), with a 23% share of total exports. It was followed by Latvia, with a 4.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Belarus stood at +3.0%. The remaining exporting countries recorded the following average annual rates of exports growth: Russia (+13.2% per year) and Latvia (+40.4% per year).

Export Prices by Country

The export price in Eastern Europe stood at $X per ton in 2021, surging by 23% against the previous year. Over the last nine years, it increased at an average annual rate of +1.1%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Latvia ($X per ton), while Belarus ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Latvia (+6.4%), while the other leaders experienced mixed trends in the export price figures.

Imports of Caviar (Salmon) And Caviar Substitutes

Imports in Eastern Europe

After five years of growth, overseas purchases of caviar (salmon) and caviar substitutes decreased by -1.9% to X tons in 2021. Overall, imports, however, recorded a significant increase. The pace of growth appeared the most rapid in 2013 when imports increased by 200% against the previous year. Over the period under review, imports hit record highs at X tons in 2020, and then fell slightly in the following year.

In value terms, caviar (salmon) and caviar substitutes imports totaled $X in 2021. In general, imports, however, continue to indicate a strong increase. The growth pace was the most rapid in 2013 when imports increased by 128%. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the immediate term.

Imports by Country

Russia prevails in imports structure, finishing at X tons, which was near 84% of total imports in 2021. It was distantly followed by Ukraine (X tons), committing an 8.4% share of total imports. Lithuania (X tons) followed a long way behind the leaders.

Russia was also the fastest-growing in terms of the caviar (salmon) and caviar substitutes imports, with a CAGR of +27.1% from 2012 to 2021. At the same time, Lithuania (+12.8%) displayed positive paces of growth. By contrast, Ukraine (-6.4%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Russia and Ukraine increased by +18 and +8.4 percentage points, respectively.

In value terms, Russia ($X) constitutes the largest market for imported caviar (salmon) and caviar substitutes in Eastern Europe, comprising 62% of total imports. The second position in the ranking was taken by Ukraine ($X), with a 17% share of total imports.

From 2012 to 2021, the average annual growth rate of value in Russia stood at +21.6%. The remaining importing countries recorded the following average annual rates of imports growth: Ukraine (+0.4% per year) and Lithuania (+4.9% per year).

Import Prices by Country

The import price in Eastern Europe stood at $X per ton in 2021, with an increase of 16% against the previous year. Overall, the import price, however, showed a abrupt curtailment. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Ukraine ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ukraine (+7.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :