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

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

In 2021, the Peruvian market for caviar (salmon) and caviar substitutes decreased by -18% to $X for the first time since 2017, thus ending a three-year rising trend. In general, consumption continues to indicate a perceptible decrease. The most prominent rate of growth was recorded in 2019 with an increase of 7.7%. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Production of Caviar (Salmon) And Caviar Substitutes in Peru

In value terms, caviar (salmon) and caviar substitutes production stood at $X in 2021 estimated in export price. Over the period under review, production, however, saw a perceptible shrinkage. The pace of growth appeared the most rapid in 2017 when the production volume increased by 19%. Caviar (salmon) and caviar substitutes production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Exports of Caviar (Salmon) And Caviar Substitutes

Exports from Peru

After three years of decline, overseas shipments of caviar (salmon) and caviar substitutes increased by 126% to X tons in 2021. In general, exports, however, showed a noticeable shrinkage. The pace of growth appeared the most rapid in 2017 when exports increased by 238%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, caviar (salmon) and caviar substitutes exports soared to $X in 2021. Over the period under review, exports, however, saw a mild slump. The most prominent rate of growth was recorded in 2017 when exports increased by 185%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

South Korea (X tons) was the main destination for caviar (salmon) and caviar substitutes exports from Peru, with a 96% share of total exports. Moreover, caviar (salmon) and caviar substitutes exports to South Korea exceeded the volume sent to the second major destination, Canada (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to South Korea totaled -4.6%.

In value terms, South Korea ($X) remains the key foreign market for caviar (salmon) and caviar substitutes exports from Peru, comprising 95% of total exports. The second position in the ranking was held by Canada ($X), with a 4.2% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to South Korea totaled -1.8%.

Export Prices by Country

The average export price for caviar (salmon) and caviar substitutes stood at $X per ton in 2021, surging by 22% against the previous year. Overall, export price indicated pronounced growth from 2012 to 2021: its price increased at an average annual rate of +3.0% 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 +109.8% against 2017 indices. The pace of growth was the most pronounced in 2020 when the average export price increased by 27%. Over the period under review, the average export prices attained the maximum in 2021 and is likely to see steady growth in the immediate term.

Average prices varied noticeably for the major overseas markets. In 2021, the country with the highest price was Canada ($X per ton), while the average price for exports to South Korea amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+20.0%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Caviar (Salmon) And Caviar Substitutes

Imports into Peru

For the fifth year in a row, Peru recorded decline in supplies from abroad of caviar (salmon) and caviar substitutes, which decreased by -11.1% to X kg in 2021. Overall, imports recorded a significant decline. The pace of growth was the most pronounced in 2016 with an increase of 111% against the previous year. As a result, imports attained the peak of X kg. From 2017 to 2021, the growth of imports remained at a lower figure.

In value terms, caviar (salmon) and caviar substitutes imports contracted to $X in 2021. In general, imports continue to indicate a deep slump. The pace of growth appeared the most rapid in 2016 with an increase of 55% against the previous year. As a result, imports reached the peak of $X. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, the United States (X kg) was the main caviar (salmon) and caviar substitutes supplier to Peru, accounting for a approx. 100% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States totaled -26.3%.

In value terms, the United States ($X) constituted the largest supplier of caviar (salmon) and caviar substitutes to Peru, comprising 89% of total imports. The second position in the ranking was taken by China ($X), with an 8.6% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States totaled -18.9%.

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 6.2% against the previous year. Over the period under review, the import price enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2015 when the average import price increased by 48% against the previous year. The import price peaked in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was China ($X per ton), while the price for the United States amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+80.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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