Growth opportunities in the Caviar Market look promising over the next six years. This is mainly due to the increasing number of Premium restaurants, luxurious hotel chains, and an escalating urban population.
Caviar Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
Exclusive restaurants and affluent hotel chains are spreading throughout the world to serve the customer’s demand and inclination towards original cuisines. Also, contemporary retail chains such as hypermarkets and supermarkets are augmenting with the acquisition of rapid urbanization of the city, which has manifested to be a prominent driver for engendering the availability of exotic goods to consumers. This is attributed to the USD 800 million adoptions of souq by Amazon in 2017 and affiliation between Noon and eBay in 2018, which supplement the market size and lead to more demand for the caviar. Furthermore, it is rich in selenium, B12 vitamin, omega-3 fatty acids and is applied to restrict incompetency. Moreover, the accelerating demand of caviar and its different product extracts by pharmaceutical sectors to prepare capsules, tablets, and liquid forms of medicines for consumers to overpower their weakness. These factors together promote market growth. However, their high price, led by the requirement of a better quality of sturgeon roes which are very rare, will hamper the caviar market growth.
Product Segment Drivers
Based on the product, sevruga is projected to dominate the market over the forecast period. This is primarily attributed to their remarkable flavor and texture compared to osetra. Furthermore, they are more economical than oestra, which is further paving the way for raising caviar market share.
Regional Drivers
Based on the regional coverage, Asia-Pacific is predicted to witness a higher CAGR over the forecast period. This is mainly due to the prevalence of leading players. For instance, Xiamen Qilei Industrial Co., Ltd., Jiamusi Import, and Export Corp. China and Azuma Trading Co., Ltd. are some of the major producers of this product with robust existence in the market. Furthermore, health benefits associated with the product, increasing spending capabilities of the consumers, and expansion of distribution channel has driven the growth of caviar industry.
Caviar Market’s leading Manufacturers:
- Azuma Trading Co., Ltd.
- Xiamen Qilei Industrial Co., Ltd.
- Shassetra
- VOLZHENKA CAVIAR
- Gourmanoff Artisan Bakery
- Jiamusi Import and Export Corp. China
- Focus Technology Co., Ltd.
- Marky’s
- VOLZHENKA CAVIAR
- Gourmanoff Artisan Bakery
Caviar Market Segmentation:
Segmentation by Source
- Kaluga/ Shortnose Hybrid
- Russian Sturgeaon
- Siberian Sturgeon
- White Sturgeaon
- Beluga Sturgeon
- Other
Segmentation by Product
- Sevruga
- Osetra
Segmentation by Form
- Fresh
- Dried
- Preserved & Frozen
Segmentation by Application
- Restaurants
- Household
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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