Caviar (Sturgeon) Market

The global caviar (sturgeon) market is forecasted to see continued growth in both volume and value from 2022 to 2030, with Russia leading in consumption and production. Consumption saw a decline in 2022 but has shown overall growth over the reviewed period. Global production saw a notable increase in 2017 but remained lower in subsequent years. Imports and exports also showed fluctuating trends, with China being a major exporter and importer. Prices varied by country, with France having the highest export price while Turkey had the lowest. Overall, the global market for caviar (sturgeon) is projected to see growth in the coming years.

Market Forecast

Driven by increasing demand for caviar (sturgeon) worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +7.4% for the period from 2022 to 2030, which is projected to bring the market volume to 125K tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +9.5% for the period from 2022 to 2030, which is projected to bring the market value to $24.3B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Caviar (Sturgeon)

In 2022, global consumption of caviar (sturgeon) declined dramatically to 71K tons, which is down by -15.6% against the previous year's figure. Over the period under review, consumption, however, enjoyed a remarkable increase. Global consumption peaked at 90K tons in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

The global caviar (sturgeon) market revenue shrank modestly to $11.8B in 2022, leveling off at the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, continues to indicate strong growth. Global consumption peaked at $13.3B in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Consumption By Country

Russia (58K tons) constituted the country with the largest volume of caviar (sturgeon) consumption, comprising approx. 82% of total volume. Moreover, caviar (sturgeon) consumption in Russia exceeded the figures recorded by the second-largest consumer, China (2.3K tons), more than tenfold.

In Russia, caviar (sturgeon) consumption increased at an average annual rate of +7.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: China (+6.5% per year) and the United States (+10.1% per year).

In value terms, Russia ($9.3B) led the market, alone. The second position in the ranking was held by China ($652M).

From 2012 to 2022, the average annual growth rate of value in Russia stood at +13.7%. In the other countries, the average annual rates were as follows: China (+7.3% per year) and the United States (+13.7% per year).

In Russia, caviar (sturgeon) per capita consumption increased at an average annual rate of +7.6% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: the United States (+9.4% per year) and China (+6.4% per year).

Production

World Production of Caviar (Sturgeon)

Global caviar (sturgeon) production shrank remarkably to 70K tons in 2022, reducing by -16% against the previous year's figure. Over the period under review, production, however, saw a strong increase. The growth pace was the most rapid in 2017 with an increase of 53% against the previous year. Global production peaked at 89K tons in 2018; however, from 2019 to 2022, production remained at a lower figure.

In value terms, caviar (sturgeon) production rose remarkably to $13B in 2022 estimated in export price. Overall, production, however, saw strong growth. The pace of growth appeared the most rapid in 2017 when the production volume increased by 83%. Global production peaked at $13.8B in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Production By Country

Russia (58K tons) constituted the country with the largest volume of caviar (sturgeon) production, comprising approx. 82% of total volume. Moreover, caviar (sturgeon) production in Russia exceeded the figures recorded by the second-largest producer, China (2.6K tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume in Russia amounted to +7.6%. The remaining producing countries recorded the following average annual rates of production growth: China (+7.3% per year) and the United States (+5.0% per year).

Imports

World Imports of Caviar (Sturgeon)

In 2022, overseas purchases of caviar (sturgeon) increased by 29% to 1.2K tons, rising for the second consecutive year after four years of decline. The total import volume increased at an average annual rate of +5.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, caviar (sturgeon) imports skyrocketed to $193M in 2022. Over the period under review, imports enjoyed a resilient increase. The most prominent rate of growth was recorded in 2021 when imports increased by 64%. Global imports peaked in 2022 and are likely to see gradual growth in years to come.

Imports By Country

In 2022, the United States (128 tons), followed by Lithuania (85 tons), Spain (76 tons), Latvia (69 tons), France (65 tons), Russia (62 tons) and Bulgaria (53 tons) were the major importers of caviar (sturgeon), together generating 46% of total imports. Belgium (50 tons), the United Arab Emirates (45 tons), the UK (40 tons), Australia (34 tons), Germany (32 tons) and Hong Kong SAR (31 tons) took a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Russia (with a CAGR of +21.8%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($39M) constitutes the largest market for imported caviar (sturgeon) worldwide, comprising 20% of global imports. The second position in the ranking was taken by France ($19M), with a 9.8% share of global imports. It was followed by Germany, with a 5.8% share.

From 2012 to 2022, the average annual growth rate of value in the United States stood at +18.1%. In the other countries, the average annual rates were as follows: France (+5.7% per year) and Germany (+3.8% per year).

Import Prices By Country

The average caviar (sturgeon) import price stood at $166,125 per ton in 2022, falling by -8.1% against the previous year. Over the period under review, the import price, however, posted perceptible growth. The most prominent rate of growth was recorded in 2021 when the average import price increased by 40% against the previous year. As a result, import price attained the peak level of $180,851 per ton, and then fell in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Germany ($346,441 per ton), while Bulgaria ($25,002 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+20.2%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Caviar (Sturgeon)

In 2022, global caviar (sturgeon) exports declined to 834 tons, remaining stable against 2021. Over the period under review, exports continue to indicate a mild descent. The most prominent rate of growth was recorded in 2016 when exports increased by 33% against the previous year. As a result, the exports attained the peak of 1.3K tons. From 2017 to 2022, the growth of the global exports remained at a lower figure.

In value terms, caviar (sturgeon) exports rose markedly to $197M in 2022. Overall, exports, however, enjoyed a strong increase. The growth pace was the most rapid in 2021 with an increase of 64% against the previous year. The global exports peaked in 2022 and are expected to retain growth in years to come.

Exports By Country

China represented the major exporter of caviar (sturgeon) in the world, with the volume of exports finishing at 266 tons, which was near 32% of total exports in 2022. The United States (87 tons) held a 10% share (based on physical terms) of total exports, which put it in second place, followed by Italy (6.7%) and Poland (5.4%). France (36 tons), Latvia (35 tons), the Czech Republic (32 tons), Denmark (30 tons), Germany (30 tons), Greece (24 tons), Turkey (23 tons), Canada (21 tons) and Belgium (19 tons) held a little share of total exports.

Exports from China increased at an average annual rate of +19.7% from 2012 to 2022. At the same time, the Czech Republic (+124.0%), Poland (+52.3%), Greece (+43.3%), Belgium (+18.3%), Latvia (+10.1%), France (+10.1%), Italy (+8.1%), Turkey (+5.4%) and Germany (+4.9%) displayed positive paces of growth. Moreover, the Czech Republic emerged as the fastest-growing exporter exported in the world, with a CAGR of +124.0% from 2012-2022. By contrast, the United States (-10.2%), Canada (-18.1%) and Denmark (-20.2%) illustrated a downward trend over the same period. China (+27 p.p.), Poland (+5.3 p.p.), Italy (+4 p.p.), the Czech Republic (+3.8 p.p.), France (+2.8 p.p.), Greece (+2.8 p.p.), Latvia (+2.7 p.p.), Belgium (+1.9 p.p.) and Germany (+1.6 p.p.) significantly strengthened its position in terms of the global exports, while Canada, the United States and Denmark saw its share reduced by -13.9%, -16.9% and -27.4% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($77M) remains the largest caviar (sturgeon) supplier worldwide, comprising 39% of global exports. The second position in the ranking was taken by Italy ($24M), with a 12% share of global exports. It was followed by France, with a 12% share.

From 2012 to 2022, the average annual growth rate of value in China amounted to +20.3%. The remaining exporting countries recorded the following average annual rates of exports growth: Italy (+6.0% per year) and France (+6.8% per year).

Export Prices By Country

In 2022, the average caviar (sturgeon) export price amounted to $236,550 per ton, increasing by 11% against the previous year. In general, the export price saw a strong increase. The pace of growth appeared the most rapid in 2017 when the average export price increased by 52%. The global export price peaked in 2022 and is likely to continue growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was France ($658,956 per ton), while Turkey ($19,895 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+18.0%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform