Global Caviar Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Sturgeon Species (Siberian Sturgeon, Kaluga/Shortnose Hybrid, Russian Sturgeon, White Sturgeon, Beluga Sturgeon, Other), By End-User (Restaurants/Hotels, Retail Shops, Airliners, Exclusive Cruise Ships), And By Geography- Forecasts From 2022 To 2027

The global caviar market is projected to surge at a CAGR of 6.74% from a market value of US$214.959 million in 2020 to attain a market value of US$339.247 million by the end of 2027. 

Caviar is referred to as salted eggs (roe) from the species of fish sturgeons. Traditionally, these fish species were harvested in the Caspian Sea, and their role was sold as caviar. These were mainly done by Russia and Iran. The well-known, highly-priced caviar variety includes Beluga from Beluga Sturgeon, Osetra from Russian Sturgeon, and Sevruga from Starry Surgeon. The origination of these species is from the Eurasia region, in the Caspian Sea, Black Sea, and the connected rivers.

The caviar availability in the market differs in size and price and is graded as classic, royal, or imperial. The classification is based on the caviar pearl's appearance in terms of size and color. Common varieties of caviar occur from White Sturgeon, Shortnose Sturgeon, Siberian Sturgeon, and Kaluga Sturgeon. However, due to habitat degradation and overexploitation or overfishing, Sturgeon and paddlefish populations have declined internationally. This includes illegal fishing as well.

Hence, the market growth is projected to grow only in countries that comply with CITES documents granted by CITES authorities. CITES is referred to as the Convention on International Trade in Endangered Species of Wild Fauna and Flora. It is an international agreement among governments to ensure that the global trade of specimens of wild animals and plants does not threaten their survival.

Hence, compliance with CITES requirements will fuel the market demand in a particular region. Today, caviars available in the market are harvested chiefly from the farmed sturgeon. Expanding premium and luxurious hotel and restaurant chains at the global level is augmenting the market growth in the forecast period. This is mainly since the global caviar market is mainly utilized by high-end segments, including premium hotels and restaurants, airliners, and exclusive cruise ships.

Also, with the growing expansion of retail shops, the market is projected to grow significantly in the forecast period. According to the FAO, the harvest reported from aquaculture in 1984 was around 150 tonnes, the harvest increased gradually to the beginning of 2000, and then it increased rapidly every year. In 2015 and 2016, the global aquaculture production of the sturgeon was recorded to be around 105 tonnes, respectively.

Major Sturgeon-producing countries or regions in the world include China, Armenia, the Russian Federation, the EU, Iran, the United States of America, and Vietnam. The estimated production of caviar increased from 290 tonnes to 340 tonnes from 2014 to 2016 (Source: World Sturgeon Conservation Society, WSCS, and TRAFFIC and WWF joint report 2018).

The presence of stringent CITES guidelines for the prevention of endangered species of Sturgeons is allowing market growth in those regions that are in compliance with CITES mandates, thus preventing overexploitation of the species and illegal trade.

Following are the recommendations listed below:

• For CITES Management Authorities, the authorities in countries that are not yet implementing the CITES caviar labeling provisions for domestic trade are recommended to revise relevant national legislation for implementing CITES Resolution Conf. 12.7 (Rev. CoP17) fully, specifically, the universal caviar labeling system for domestic trade.
• The CITES Management Authorities should place stringent requirements for the quality and design of the CITES caviar labels to ensure that the labels provide visual evidence in case of any opening and are non-reusable. Also, the CITES code is readable and easy to locate. The application of Universal security features can be made to avoid the fraudulent production of labels. Additionally, a clearly defined lot identification number should be agreed upon to help in improving traceability and ensure consistency across the producers and repackagers.
• It is essential for the CITES Management Authorities of the Parties exporting wild-sourced caviar to set and publish national export quotas for exporting wild-sourced caviar each year to assist in the regulation and monitoring of the international caviar trade.
• For enforcement authorities, it is recommended that the enforcement authorities of the consumer and transit countries or territories are required to pay attention to wild-sourced caviar and to get in contact with the exporting countries to check whether the export permits are issued properly.
• The relevant enforcement authorities, particularly of the range States and countries that are on illegal trade routes, should check that the caviar species, wild or bred, in addition to the geographic origin of the caviar, match those as provided on the label/packaging for minimizing the risk of fraud and illegal trade.
• The relevant authorities are recommended to review the findings relevant to their country and check whether there is a discrepancy between what is legally reported as imported and what is found in the market for sale. This information is further to be utilized for informing their border control targeting and risk assessments.
• Also, the enforcement authorities in the European Union should target caviar in large amounts moving across the EU borders overland for sturgeon and paddlefish range states like Russia, Ukraine, Azerbaijan, Kazakhstan, and Iran to prevent illegally sourced wild caviar from entering the European Union market.
• For aquaculture operations, it is required to help the relevant authorities strengthen the implementation of CITES legislation and labeling, for example, the registration of facilities, fulfillment of the requirements, or the quality and design of CITES labels. Also, ensuring better traceability of caviar commodities within the trade is recommended.
• The CITES Management Authorities, in cooperation with the relevant fisheries authorities, are motivated to register all the sturgeon aquaculture operations throughout the country, including those not currently required to be registered under CITES Resolution Conf. 12. 7(Rev. CoP17) to reduce the risk of fraudulent practices.
• Retailers are required to remain up-to-date on the CITES labeling requirements and not promote caviar harvesting from the wild, where it is illegal. Also, providing consumers with relevant information for ensuring to act legally is recommended.
• The online retailers are required to provide detailed information on caviar species, in terms of source and origin, and on regulations related to export to ensure that they comply with the CITES Resolution Conf. 12.7 and domestic legislation.

Key Developments

• April 2022: Georgian Fish and Caviar, a producer of local and clean fish species, has announced its plan to expand its reach into the global market, through new investments, innovation in technology, and increased production.
• July 2021: Berg Hospitality has announced the release of its special reserve Royal White Sturgeon caviar. The caviar will be available at B&B Butchers & Restaurants and a few other Berg Hospitality establishments. Each restaurant will provide a distinctive caviar presentation and match, available in 1oz jars for US$95 each.

Impact of the COVID-19 pandemic on the Caviar Market

The COVID-19 pandemic resulted in a global economic slowdown, owing to the suspension of essential industrial processes and commercial activities. The caviar market also suffered significantly during the pandemic, owing to the disruptions in supply and production lines. China being the largest producer of caviar, the world's caviar trade suffered since China was severely hit by the pandemic. Data from EUROSTAT-COMEXT show that in 2018, there were 61.6 tons of caviar traded inside the EU; in 2020, there were 48.4 tons. However, as most countries have started to relax their COVID-19 protocols, the market is expected to increase in demand in the forecasted period.

Global Caviar Market Scope:

Segmentation:

• By Sturgeon Species
  • Siberian Sturgeon
  • Kaluga/Shortnose Hybrid
  • Russian Sturgeon
  • White Sturgeon
  • Beluga Sturgeon
  • Other
• By End-User
  • Restaurants/Hotels
  • Retail Shops
  • Airliners
  • Exclusive Cruise Ships
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Argentina
    • Brazil
    • Others
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Others
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Taiwan
    • Thailand
    • Indonesia
    • Others