Latin America and the Caribbean: Caviar (Sturgeon) Market 2024

Caviar (Sturgeon) Market Size in Latin America and the Caribbean

In 2021, the Latin American caviar (sturgeon) market decreased by -4.3% to $X for the first time since 2016, thus ending a four-year rising trend. The total consumption indicated a temperate expansion from 2012 to 2021: its value increased at an average annual rate of +4.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +58.8% against 2016 indices. Over the period under review, the market reached the peak level at $X in 2020, and then dropped in the following year.

Caviar (Sturgeon) Production in Latin America and the Caribbean

In value terms, caviar (sturgeon) production fell to $X in 2021 estimated in export price. The total production indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +4.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +53.6% against 2016 indices. The pace of growth was the most pronounced in 2018 with an increase of 20% against the previous year. Over the period under review, production reached the maximum level at $X in 2020, and then declined in the following year.

Caviar (Sturgeon) Exports

Exports in Latin America and the Caribbean

In 2021, the amount of caviar (sturgeon) exported in Latin America and the Caribbean declined to X tons, reducing by -8.9% against the previous year's figure. Overall, exports showed a abrupt curtailment. The pace of growth was the most pronounced in 2019 with an increase of 69%. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, caviar (sturgeon) exports rose notably to $X in 2021. In general, exports continue to indicate a abrupt decline. The pace of growth appeared the most rapid in 2019 with an increase of 55%. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Uruguay (X tons) represented the largest exporter of caviar (sturgeon) in Latin America and the Caribbean, committing 98% of total export.

Uruguay experienced a relatively flat trend pattern with regard to volume of exports of caviar (sturgeon). While the share of Uruguay (+53 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Uruguay ($X) also remains the largest caviar (sturgeon) supplier in Latin America and the Caribbean.

From 2012 to 2021, the average annual growth rate of value in Uruguay totaled -2.9%.

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per ton, with an increase of 19% against the previous year. Over the last nine years, it increased at an average annual rate of +3.5%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for Uruguay.

From 2012 to 2021, the rate of growth in terms of prices for Uruguay amounted to -2.9% per year.

Caviar (Sturgeon) Imports

Imports in Latin America and the Caribbean

In 2021, supplies from abroad of caviar (sturgeon) decreased by -8.3% to X tons, falling for the second consecutive year after four years of growth. Over the period under review, imports, however, continue to indicate temperate growth. The pace of growth was the most pronounced in 2013 with an increase of 90% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, caviar (sturgeon) imports soared to $X in 2021. Total imports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +5.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +92.1% against 2017 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Saint Maarten (Dutch part) (X tons) and Guatemala (X tons) were the largest importers of caviar (sturgeon) in Latin America and the Caribbean, together achieving 59% of total imports. It was distantly followed by Brazil (X kg) and Ecuador (X kg), together creating a 10% share of total imports. Barbados (X kg), Bolivia (X kg), Cayman Islands (X kg), Mexico (X kg), Grenada (X kg), Paraguay (X kg), the Dominican Republic (X kg), Aruba (X kg) and Colombia (X kg) held a minor share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Barbados (with a CAGR of +46.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Saint Maarten (Dutch part) ($X) constitutes the largest market for imported caviar (sturgeon) in Latin America and the Caribbean, comprising 42% of total imports. The second position in the ranking was held by Mexico ($X), with a 9.6% share of total imports. It was followed by Ecuador, with a 6.8% share.

In Saint Maarten (Dutch part), caviar (sturgeon) imports increased at an average annual rate of +13.2% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Mexico (+13.5% per year) and Ecuador (+20.1% per year).

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per ton, picking up by 56% against the previous year. Import price indicated noticeable growth from 2012 to 2021: its price increased at an average annual rate of +2.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, caviar (sturgeon) import price increased by +79.7% against 2018 indices. The pace of growth was the most pronounced in 2014 an increase of 58%. Over the period under review, import prices reached the maximum in 2021 and is expected to retain growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Dominican Republic (+18.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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