Overview of the Global Market for Caviar (Salmon) And Caviar Substitutes

Market Size for Caviar (Salmon) And Caviar Substitutes

In 2021, after three years of decline, there was growth in the global market for caviar (salmon) and caviar substitutes, when its value increased by 4.5% to $X. In general, consumption, however, saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the global market remained at a lower figure.

Production of Caviar (Salmon) And Caviar Substitutes

In value terms, caviar (salmon) and caviar substitutes production rose modestly to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a slight shrinkage. The most prominent rate of growth was recorded in 2017 when the production volume increased by 3.1% against the previous year. Over the period under review, global production hit record highs at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Exports of Caviar (Salmon) And Caviar Substitutes

Exports

In 2021, global caviar (salmon) and caviar substitutes exports amounted to X tons, with an increase of 11% against the previous year. The total export volume increased at an average annual rate of +1.1% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2013 when exports increased by 14% against the previous year. The global exports peaked at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, caviar (salmon) and caviar substitutes exports surged to $X in 2021. The total export value increased at an average annual rate of +1.5% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Belarus (X tons) represented the main exporter of caviar (salmon) and caviar substitutes, constituting 39% of total exports. China (X tons) ranks second in terms of the total exports with a 14% share, followed by Russia (8.2%), Germany (6.4%), Japan (6.1%), Denmark (5.7%) and Sweden (5.6%).

Exports from Belarus increased at an average annual rate of +2.3% from 2012 to 2021. At the same time, Russia (+16.8%), Germany (+12.4%), Japan (+8.5%) and Denmark (+4.7%) displayed positive paces of growth. Moreover, Russia emerged as the fastest-growing exporter exported in the world, with a CAGR of +16.8% from 2012-2021. Sweden experienced a relatively flat trend pattern. By contrast, China (-6.1%) illustrated a downward trend over the same period. While the share of Russia (+6 p.p.), Belarus (+4 p.p.), Germany (+3.9 p.p.), Japan (+2.9 p.p.) and Denmark (+1.5 p.p.) increased significantly in terms of the global exports from 2012-2021, the share of China (-13 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Belarus ($X), Japan ($X) and China ($X) were the countries with the highest levels of exports in 2021, together accounting for 48% of global exports. Germany, Denmark, Russia and Sweden lagged somewhat behind, together accounting for a further 30%.

Russia, with a CAGR of +13.2%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other global 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, increasing by 13% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was Japan ($X per ton), while Belarus ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (+2.7%), while the other global leaders experienced more modest paces of growth.

Imports of Caviar (Salmon) And Caviar Substitutes

Imports

In 2021, approx. X tons of caviar (salmon) and caviar substitutes were imported worldwide; picking up by 5.1% compared with the previous year's figure. In general, total imports indicated prominent growth from 2012 to 2021: its volume increased at an average annual rate of +9.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +30.4% against 2016 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 46%. Global imports peaked in 2021 and are expected to retain growth in the near future.

In value terms, caviar (salmon) and caviar substitutes imports soared to $X in 2021. The total import value increased at an average annual rate of +3.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Russia (X tons) represented the key importer of caviar (salmon) and caviar substitutes, committing 44% of total imports. South Korea (X tons) held the second position in the ranking, followed by Japan (X tons), the United States (X tons) and France (X tons). All these countries together took approx. 23% share of total imports. The following importers - Ukraine (X tons), Germany (X tons), Spain (X tons), the Netherlands (X tons) and Norway (X tons) - together made up 15% of total imports.

From 2012 to 2021, average annual rates of growth with regard to caviar (salmon) and caviar substitutes imports into Russia stood at +27.1%. At the same time, the Netherlands (+46.9%), South Korea (+32.6%), Norway (+20.6%), the United States (+10.2%), Spain (+7.5%) and France (+6.8%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing importer imported in the world, with a CAGR of +46.9% from 2012-2021. By contrast, Germany (-1.7%), Ukraine (-6.4%) and Japan (-7.0%) illustrated a downward trend over the same period. Russia (+33 p.p.), South Korea (+6.3 p.p.), Ukraine (+4.4 p.p.) and the Netherlands (+2.2 p.p.) significantly strengthened its position in terms of the global imports, while Germany and Japan saw its share reduced by -5.8% and -17.5% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X), South Korea ($X) and the United States ($X) constituted the countries with the highest levels of imports in 2021, together comprising 37% of global imports. These countries were followed by France, Germany, Japan, Ukraine, the Netherlands, Norway and Spain, which together accounted for a further 32%.

In terms of the main importing countries, the Netherlands, with a CAGR of +45.4%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global 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, rising by 21% against the previous year. Over the period under review, the import price, however, showed a pronounced curtailment. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was the Netherlands ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ukraine (+7.2%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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