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

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

In 2021, after two years of decline, there was significant growth in the Egyptian market for caviar (salmon) and caviar substitutes, when its value increased by 18% to $X. Overall, consumption, however, recorded a mild slump. As a result, consumption attained the peak level of $X. From 2016 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Caviar (Salmon) And Caviar Substitutes in Egypt

In value terms, caviar (salmon) and caviar substitutes production skyrocketed to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a mild decrease. The most prominent rate of growth was recorded in 2015 when the production volume increased by 60%. As a result, production attained the peak level of $X. From 2016 to 2021, production growth remained at a somewhat lower figure.

Exports of Caviar (Salmon) And Caviar Substitutes

Exports from Egypt

In 2021, overseas shipments of caviar (salmon) and caviar substitutes decreased by -53.7% to X kg for the first time since 2015, thus ending a five-year rising trend. In general, exports recorded a deep setback. The pace of growth appeared the most rapid in 2020 when exports increased by 238% against the previous year. As a result, the exports reached the peak of X tons, and then reduced notably in the following year.

In value terms, caviar (salmon) and caviar substitutes exports reduced markedly to $X in 2021. Overall, exports saw a drastic downturn. The pace of growth appeared the most rapid in 2020 when exports increased by 212% against the previous year. As a result, the exports reached the peak of $X, and then declined sharply in the following year.

Exports by Country

Lebanon (X kg) was the main destination for caviar (salmon) and caviar substitutes exports from Egypt, with a 53% share of total exports. Moreover, caviar (salmon) and caviar substitutes exports to Lebanon exceeded the volume sent to the second major destination, Saudi Arabia (X kg), twofold.

From 2012 to 2021, the average annual growth rate of volume to Lebanon amounted to -12.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (0.0% per year) and the United Arab Emirates (+23.1% per year).

In value terms, Lebanon ($X) remains the key foreign market for caviar (salmon) and caviar substitutes exports from Egypt, comprising 71% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 17% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Lebanon totaled -9.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+85.3% per year) and Saudi Arabia (0.0% per year).

Export Prices by Country

In 2021, the average export price for caviar (salmon) and caviar substitutes amounted to $X per ton, dropping by -28.6% against the previous year. Overall, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average export price increased by 60% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Lebanon ($X per ton), while the average price for exports to Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+50.6%).

Imports of Caviar (Salmon) And Caviar Substitutes

Imports into Egypt

In 2021, the amount of caviar (salmon) and caviar substitutes imported into Egypt surged to X tons, rising by 112% against 2020 figures. Over the period under review, imports enjoyed a notable expansion. The most prominent rate of growth was recorded in 2018 with an increase of 130%. Imports peaked in 2021 and are likely to continue growth in years to come.

In value terms, caviar (salmon) and caviar substitutes imports skyrocketed to $X in 2021. Overall, imports enjoyed moderate growth. The pace of growth was the most pronounced in 2018 with an increase of 203% against the previous year. Imports peaked in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, Norway (X tons) constituted the largest caviar (salmon) and caviar substitutes supplier to Egypt, with a 44% share of total imports. Moreover, caviar (salmon) and caviar substitutes imports from Norway exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. The third position in this ranking was held by Thailand (X tons), with a 6.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Norway totaled -3.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (0.0% per year) and Thailand (+25.3% per year).

In value terms, Norway ($X), China ($X) and Germany ($X) appeared to be the largest caviar (salmon) and caviar substitutes suppliers to Egypt, with a combined 53% share of total imports. Denmark, Thailand and Sweden lagged somewhat behind, together accounting for a further 18%.

In terms of the main suppliers, Thailand, with a CAGR of +55.2%, saw the highest growth rate of the value of imports, 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, rising by 35% against the previous year. In general, the import price saw a relatively flat trend pattern. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Germany ($X per ton), while the price for Sweden ($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 (+24.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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