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

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

In 2021, the Ukrainian market for caviar (salmon) and caviar substitutes increased by 6.1% to $X, rising for the second consecutive year after two years of decline. In general, consumption recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Production of Caviar (Salmon) And Caviar Substitutes in Ukraine

In value terms, caviar (salmon) and caviar substitutes production totaled $X in 2021 estimated in export price. Over the period under review, production posted resilient growth. The most prominent rate of growth was recorded in 2017 when the production volume increased by 73%. Caviar (salmon) and caviar substitutes production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Exports of Caviar (Salmon) And Caviar Substitutes

Exports from Ukraine

In 2021, exports of caviar (salmon) and caviar substitutes from Ukraine skyrocketed to X tons, rising by 29% on the year before. Overall, exports enjoyed a significant increase. The pace of growth appeared the most rapid in 2016 when exports increased by 116% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are likely to see steady growth in years to come.

In value terms, caviar (salmon) and caviar substitutes exports soared to $X in 2021. Over the period under review, exports continue to indicate a resilient increase. The growth pace was the most rapid in 2016 with an increase of 94%. The exports peaked in 2021 and are likely to see gradual growth in the immediate term.

Exports by Country

Moldova (X tons), Lithuania (X tons) and Israel (X tons) were the main destinations of caviar (salmon) and caviar substitutes exports from Ukraine, together accounting for 75% of total exports. Germany, Spain, the United States, Georgia and Estonia lagged somewhat behind, together accounting for a further 21%.

From 2014 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Spain (with a CAGR of +375.0%), while the other leaders experienced more modest paces of growth.

In value terms, Moldova ($X), Israel ($X) and Lithuania ($X) appeared to be the largest markets for caviar (salmon) and caviar substitutes exported from Ukraine worldwide, together comprising 67% of total exports. Germany, Spain, the United States, Estonia and Georgia lagged somewhat behind, together comprising a further 17%.

Among the main countries of destination, Spain, with a CAGR of +412.4%, recorded 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

The average export price for caviar (salmon) and caviar substitutes stood at $X per ton in 2021, with an increase of 11% against the previous year. In general, the export price, however, continues to indicate a drastic downturn. The growth pace was the most rapid in 2018 when the average export price increased by 13% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Israel ($X per ton), while the average price for exports to Lithuania ($X per ton) was amongst the lowest.

From 2014 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Israel (+27.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Caviar (Salmon) And Caviar Substitutes

Imports into Ukraine

In 2021, overseas purchases of caviar (salmon) and caviar substitutes decreased by -18.9% to X tons, falling for the second consecutive year after four years of growth. Overall, imports continue to indicate a abrupt slump. The most prominent rate of growth was recorded in 2016 when imports increased by 50% against the previous year. Over the period under review, imports attained the maximum at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, caviar (salmon) and caviar substitutes imports reduced modestly to $X in 2021. In general, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of 76% against the previous year. Over the period under review, imports attained the maximum at $X in 2020, and then reduced modestly in the following year.

Imports by Country

Belarus (X tons), Norway (X tons) and China (X tons) were the main suppliers of caviar (salmon) and caviar substitutes imports to Ukraine, together comprising 80% of total imports. These countries were followed by the United States, Finland, the UK, Estonia and Iceland, which together accounted for a further 16%.

From 2014 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Estonia (with a CAGR of +645.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Belarus ($X) and Norway ($X) constituted the largest caviar (salmon) and caviar substitutes suppliers to Ukraine, with a combined 74% share of total imports. These countries were followed by Finland, China, the UK, Estonia and Iceland, which together accounted for a further 17%.

Estonia, with a CAGR of +696.4%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for caviar (salmon) and caviar substitutes stood at $X per ton in 2021, with an increase of 22% against the previous year. In general, import price indicated resilient growth from 2014 to 2021: its price increased at an average annual rate of +7.2% over the last seven-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 import price increased by +79.0% against 2018 indices. The growth pace was the most rapid in 2020 an increase of 42% against the previous year. The import price peaked in 2021 and is likely to see steady growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2014 to 2021, the most notable rate of growth in terms of prices was attained by Finland (+23.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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