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

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

In 2021, the MERCOSUR market for caviar (salmon) and caviar substitutes was finally on the rise to reach $X after five years of decline. Over the period under review, consumption, however, recorded a perceptible shrinkage. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Production of Caviar (Salmon) And Caviar Substitutes in MERCOSUR

In value terms, caviar (salmon) and caviar substitutes production rose to $X in 2021 estimated in export price. Over the period under review, production, however, saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2015 with an increase of 5.5% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Exports of Caviar (Salmon) And Caviar Substitutes

Exports in MERCOSUR

In 2021, overseas shipments of caviar (salmon) and caviar substitutes increased by 133% to X tons for the first time since 2017, thus ending a three-year declining trend. In general, exports, however, showed a noticeable downturn. The most prominent rate of growth was recorded in 2017 when exports increased by 230%. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, caviar (salmon) and caviar substitutes exports surged to $X in 2021. Over the period under review, exports, however, showed a relatively flat trend pattern. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Peru dominates exports structure, reaching X tons, which was approx. 96% of total exports in 2021. Chile (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to caviar (salmon) and caviar substitutes exports from Peru stood at -4.3%. At the same time, Chile (+24.3%) displayed positive paces of growth. Moreover, Chile emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of +24.3% from 2012-2021. Chile (+3.9 p.p.) significantly strengthened its position in terms of the total exports, while Peru saw its share reduced by -3.8% from 2012 to 2021, respectively.

In value terms, Peru ($X) remains the largest caviar (salmon) and caviar substitutes supplier in MERCOSUR, comprising 93% of total exports. The second position in the ranking was held by Chile ($X), with a 6.8% share of total exports.

In Peru, caviar (salmon) and caviar substitutes exports contracted by an average annual rate of -1.4% over the period from 2012-2021.

Export Prices by Country

The export price in MERCOSUR stood at $X per ton in 2021, increasing by 23% against the previous year. Export price indicated a notable expansion from 2012 to 2021: its price increased at an average annual rate of +3.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, caviar (salmon) and caviar substitutes export price increased by +103.9% against 2017 indices. The growth pace was the most rapid in 2020 an increase of 28% against the previous year. Over the period under review, the export prices reached the maximum in 2021 and is likely to see steady growth in years to come.

Prices varied noticeably country of origin: the country with the highest price was Chile ($X per ton), while Peru totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Peru (+3.0%).

Imports of Caviar (Salmon) And Caviar Substitutes

Imports in MERCOSUR

In 2021, after three years of growth, there was significant decline in purchases abroad of caviar (salmon) and caviar substitutes, when their volume decreased by -8.2% to X tons. Over the period under review, imports, however, saw a prominent increase. The most prominent rate of growth was recorded in 2020 with an increase of 68% against the previous year. As a result, imports attained the peak of X tons, and then shrank in the following year.

In value terms, caviar (salmon) and caviar substitutes imports expanded sharply to $X in 2021. Overall, imports, however, showed strong growth. The pace of growth was the most pronounced in 2020 with an increase of 64%. Over the period under review, imports reached the maximum in 2021 and are likely to see gradual growth in years to come.

Imports by Country

In 2021, Colombia (X tons) was the key importer of caviar (salmon) and caviar substitutes, mixing up 55% of total imports. It was distantly followed by Chile (X tons), Ecuador (X tons) and Brazil (X tons), together constituting a 40% share of total imports. The following importers - Paraguay (X kg) and Uruguay (X kg) - each finished at a 3.2% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to caviar (salmon) and caviar substitutes imports into Colombia stood at +20.8%. At the same time, Chile (+34.2%), Brazil (+29.6%), Paraguay (+2.4%) and Ecuador (+2.1%) displayed positive paces of growth. Moreover, Chile emerged as the fastest-growing importer imported in MERCOSUR, with a CAGR of +34.2% from 2012-2021. By contrast, Uruguay (-16.0%) illustrated a downward trend over the same period. While the share of Colombia (+31 p.p.), Chile (+13 p.p.) and Brazil (+8.7 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Paraguay (-1.6 p.p.), Ecuador (-13 p.p.) and Uruguay (-15.9 p.p.) displayed negative dynamics.

In value terms, Colombia ($X) constitutes the largest market for imported caviar (salmon) and caviar substitutes in MERCOSUR, comprising 49% of total imports. The second position in the ranking was taken by Brazil ($X), with a 15% share of total imports. It was followed by Chile, with a 15% share.

In Colombia, caviar (salmon) and caviar substitutes imports increased at an average annual rate of +20.5% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Brazil (+30.6% per year) and Chile (+42.0% per year).

Import Prices by Country

In 2021, the import price in MERCOSUR amounted to $X per ton, rising by 21% against the previous year. Overall, the import price, however, continues to indicate a perceptible shrinkage. Over the period under review, import prices attained the maximum at $X per ton in 2017; however, from 2018 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 Uruguay ($X per ton), while Colombia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Chile (+5.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform