Russian Federation: Market for Caviar (Salmon) And Caviar Substitutes 2024

Market Size for Caviar (Salmon) And Caviar Substitutes in the Russian Federation

The Russian market for caviar (salmon) and caviar substitutes fell slightly to $X in 2021, approximately mirroring the previous year. In general, the total consumption indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +6.6% 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 +7.0% against 2019 indices. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Production of Caviar (Salmon) And Caviar Substitutes in the Russian Federation

In value terms, caviar (salmon) and caviar substitutes production amounted to $X in 2021 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 35% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2021, production growth remained at a lower figure.

Exports of Caviar (Salmon) And Caviar Substitutes

Exports from the Russian Federation

In 2021, shipments abroad of caviar (salmon) and caviar substitutes increased by 94% to X tons, rising for the fifth year in a row after three years of decline. Overall, exports showed a resilient increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, caviar (salmon) and caviar substitutes exports surged to $X in 2021. Over the period under review, exports continue to indicate a prominent expansion. The pace of growth appeared the most rapid in 2017 when exports increased by 102% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to see gradual growth in years to come.

Exports by Country

Ukraine (X tons) was the main destination for caviar (salmon) and caviar substitutes exports from Russia, accounting for a 45% share of total exports. Moreover, caviar (salmon) and caviar substitutes exports to Ukraine exceeded the volume sent to the second major destination, Belarus (X tons), threefold. The third position in this ranking was held by Israel (X tons), with a 12% share.

From 2012 to 2021, the average annual growth rate of volume to Ukraine stood at +12.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belarus (+59.3% per year) and Israel (+53.1% per year).

In value terms, Belarus ($X), Ukraine ($X) and Germany ($X) appeared to be the largest markets for caviar (salmon) and caviar substitutes exported from Russia worldwide, together accounting for 55% of total exports. These countries were followed by Kazakhstan, Israel, Moldova, Uzbekistan, Azerbaijan and Georgia, which together accounted for a further 30%.

In terms of the main countries of destination, Uzbekistan, with a CAGR of +70.9%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average export price for caviar (salmon) and caviar substitutes amounted to $X per ton, growing by 2.1% against the previous year. Over the period under review, the export price, however, continues to indicate a pronounced shrinkage. The pace of growth appeared the most rapid in 2017 an increase of 11% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Azerbaijan ($X per ton), while the average price for exports to Ukraine ($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 Germany (+24.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Caviar (Salmon) And Caviar Substitutes

Imports into the Russian Federation

In 2021, caviar (salmon) and caviar substitutes imports into Russia contracted slightly to X tons, dropping by -2.1% compared with the previous year's figure. Over the period under review, imports, however, posted a significant expansion. The pace of growth was the most pronounced in 2013 with an increase of 301% against the previous year. Over the period under review, imports reached the maximum at X tons in 2020, and then reduced in the following year.

In value terms, caviar (salmon) and caviar substitutes imports rose markedly to $X in 2021. In general, imports, however, enjoyed significant growth. The pace of growth was the most pronounced in 2013 with an increase of 283% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are likely to see gradual growth in the near future.

Imports by Country

In 2021, Belarus (X tons) was the main supplier of caviar (salmon) and caviar substitutes to Russia, accounting for a approx. 99% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from Belarus totaled +27.0%.

In value terms, Belarus ($X) constituted the largest supplier of caviar (salmon) and caviar substitutes to Russia.

From 2012 to 2021, the average annual rate of growth in terms of value from Belarus stood at +21.2%.

Import Prices by Country

The average import price for caviar (salmon) and caviar substitutes stood at $X per ton in 2021, rising by 11% against the previous year. In general, the import price, however, saw a noticeable curtailment. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

As there is only one major supplying country, the average price level is determined by prices for Belarus.

From 2012 to 2021, the rate of growth in terms of prices for Belarus amounted to -4.6% per year.

Source: IndexBox Platform

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