Caviar Market Report 2024

The caviar market size has grown rapidly in recent years. It will grow from $2.57 billion in 2023 to $2.83 billion in 2024 at a compound annual growth rate (CAGR) of 10.2%. The growth during the historic period can be attributed to several factors, including rising consumer demand for nutritional and skin health products, increasing popularity of microwavable foods, growing demand for luxury food items, expansion of aquaculture and sustainable practices, and globalization leading to enhanced accessibility.

The caviar market size is expected to see rapid growth in the next few years. It will grow to $4.19 billion in 2028 at a compound annual growth rate (CAGR) of 10.3%. The growth in the forecast period can be attributed to growing demand for caviar, increasing awareness of its health benefits, its status as a luxury and status symbol, culinary prestige, and its use in gourmet cuisine. Major trends expected in this period include advancements in aquaculture technologies, innovations in product development, adoption of sustainable farming practices, implementation of automated monitoring systems, and advancements in genetic research to improve breeding practices.

The caviar market is set to experience growth, driven by the increasing popularity of restaurants. This trend reflects a rising preference for experiential dining, where consumers seek unique and memorable culinary experiences as part of their social and cultural engagements. Caviar enriches restaurant menus with its luxurious and sophisticated appeal, enhancing dining experiences significantly. For example, Statistics Sweden reported in June 2024 that restaurant sales volume increased by 1.2% during the first quarter of 2024 compared to the same period in 2023, underscoring the growing influence of restaurants on the caviar market.

Leading companies in the caviar industry are focusing on innovation by developing new products such as plant-based caviar, catering to the increasing demand for sustainable and vegan options. Plant-based caviar offers a vegan or vegetarian alternative to traditional caviar, using ingredients derived from plants to replicate the taste, texture, and appearance of authentic caviar without using fish roe. For instance, Ancrée, a France-based caviar manufacturer, introduced the First French Plant-Based Caviar in July 2024, formulated with chia seeds and seaweed. This plant-based option is fortified with chia seeds, providing omega-3 fatty acids, fiber, vitamins, and minerals, offering a nutritious alternative to traditional caviar. Seaweed in the plant-based caviar adds essential iodine, similar to traditional caviar.

In March 2023, Modern Plant-Based Foods, a Canadian company specializing in plant-based products, acquired Northern Pacific Caviar to strengthen its capacity in producing and distributing vegan caviar across retail stores, restaurants, and food service outlets. Northern Pacific Caviar, based in Canada, specializes in vegan caviar products made from a blend of seaweed, flavorings, and chia seeds.

Major companies operating in the caviar market are Labeyrie Fine Foods SAS, Caviar House & Prunier, Petrossian Inc., The Caviar Co., The Caviar House, Amur Caviar Company Ltd., Black River Caviar, Hyde Caviar LLC, Riofrío 1963 SL, Hangzhou Qiandaohu Xunlong Sci-Tech Co. Ltd., L'Osage Caviar Company Inc., Sasanian Caviar Inc., Agroittica Lombarda, California Caviar Company, Russian Caviar House LLP, Delicatessen SNAILEX s.r.o., Karat Caviar, Tsar Nicoulai Caviar LLC, Bemka, Imperial Caviar.

Asia-Pacific was the largest region in the caviar market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the caviar market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the caviar market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Caviar is the processed and salted roe (eggs) of specific fish species, primarily sturgeon, renowned for its delicacy and enjoyed as a luxury food item. It is prized for its rich, briny flavor and smooth texture, traditionally served chilled and considered a gourmet delicacy worldwide.

The main types of caviar include sevruga, osetra, salmon, sushi, beluga, sterlet, and others. Sevruga caviar is derived from the roe of the Acipenser stellatus, a sturgeon species native to the Caspian and Black Seas, known for its small, grey-colored eggs. Sevruga caviar is available in various forms such as fresh, dried, and frozen. These products are distributed through various sales channels including on-trade and off-trade, and are utilized in applications such as hotels, restaurants, airliners, cruise ships, retail stores, and more.

The caviar market research report is one of a series of new reports that provides caviar market statistics, including caviar industry global market size, regional shares, competitors with a caviar market share, detailed caviar market segments, market trends, and opportunities, and any further data you may need to thrive in the caviar industry. This caviar market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The caviar market consists of sales of processed caviar, infused caviar, sevruga caviar, white sturgeon caviar, and hackleback caviar. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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