Republic of Korea: Caviar (Sturgeon) Market 2024

Caviar (Sturgeon) Market Size in Republic of Korea

The South Korean caviar (sturgeon) market was estimated at $X in 2021, rising by 4.2% against the previous year. Overall, consumption posted a prominent increase. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Caviar (Sturgeon) Production in Republic of Korea

In value terms, caviar (sturgeon) production amounted to $X in 2021 estimated in export price. In general, production continues to indicate a prominent expansion. The pace of growth was the most pronounced in 2017 with an increase of 37% against the previous year. Caviar (sturgeon) production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Caviar (Sturgeon) Exports

Exports from Republic of Korea

After two years of decline, overseas shipments of caviar (sturgeon) increased by 61% to X kg in 2021. In general, exports, however, recorded a abrupt decrease. Over the period under review, the exports attained the maximum at X kg in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, caviar (sturgeon) exports skyrocketed to $X in 2021. Over the period under review, exports, however, continue to indicate a deep downturn. The pace of growth was the most pronounced in 2015 when exports increased by 36% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Singapore (X kg) was the main destination for caviar (sturgeon) exports from South Korea, with a 54% share of total exports. Moreover, caviar (sturgeon) exports to Singapore exceeded the volume sent to the second major destination, Thailand (X kg), twofold. The third position in this ranking was held by the United States (X kg), with a 16% share.

From 2012 to 2021, the average annual growth rate of volume to Singapore amounted to +68.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (0.0% per year) and the United States (-29.0% per year).

In value terms, Singapore ($X) remains the key foreign market for caviar (sturgeon) exports from South Korea, comprising 83% of total exports. The second position in the ranking was held by the United States ($X), with a 12% share of total exports. It was followed by China, with a 3.8% share.

From 2012 to 2021, the average annual growth rate of value to Singapore totaled +21.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-30.1% per year) and China (-37.8% per year).

Export Prices by Country

The average caviar (sturgeon) export price stood at $X per ton in 2021, which is down by -25.4% against the previous year. Overall, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 68% against the previous year. The export price peaked at $X per ton in 2020, and then shrank dramatically in the following year.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Singapore ($X per ton), while the average price for exports to Thailand ($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 States (-1.4%), while the prices for the other major destinations experienced a decline.

Caviar (Sturgeon) Imports

Imports into Republic of Korea

In 2021, purchases abroad of caviar (sturgeon) increased by 19% to X tons for the first time since 2017, thus ending a three-year declining trend. In general, imports, however, recorded a perceptible descent. The most prominent rate of growth was recorded in 2017 when imports increased by 41% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2021, the growth of imports failed to regain momentum.

In value terms, caviar (sturgeon) imports soared to $X in 2021. Overall, imports posted a strong increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Belgium (X kg), Italy (X kg) and France (X kg) were the main suppliers of caviar (sturgeon) imports to South Korea, together comprising 74% of total imports. These countries were followed by Hong Kong SAR, China, Russia and the United States, which together accounted for a further 22%.

From 2012 to 2021, the biggest increases were recorded for Hong Kong SAR (with a CAGR of +131.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X), Italy ($X) and France ($X) appeared to be the largest caviar (sturgeon) suppliers to South Korea, with a combined 79% share of total imports. These countries were followed by China, Hong Kong SAR, Russia and the United States, which together accounted for a further 18%.

In terms of the main suppliers, Hong Kong SAR, with a CAGR of +135.2%, saw the highest rates of growth with regard to 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

The average caviar (sturgeon) import price stood at $X per ton in 2021, increasing by 34% against the previous year. Overall, the import price posted a prominent expansion. The most prominent rate of growth was recorded in 2016 an increase of 55%. Over the period under review, average import prices hit record highs in 2021 and is likely to see gradual growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+16.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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