The global caviar market is projected to surge at a CAGR of 6.38% from a market value of USD209.573 million in 2019 to attain a market value of USD303.736 million by the end of 2025. 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 roe 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 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 at the international level, this includes illegal fishing as well. Hence, the market growth is projected to grow only in countries that are in compliance 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 the governments to ensure that the global trade of the 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 mostly from the farmed sturgeon. The expansion of premium and luxurious hotel and restaurant chains at the global level is augmenting the market growth in the forecast period. This is mainly due to the fact that the global caviar market is mainly utilized by the 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 at a significant pace 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 started increasing 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 the 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 for revising relevant national legislation for the implementation of CITES Resolution Conf. 12.7 (Rev. CoP17) fully, specifically, the universal caviar labeling system for the domestic trade.
- The CITES Management Authorities should put in place stringent requirements for the quality and design of the CITES caviar labels for ensuring 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 done to avoid the fraudulent production of labels. Additionally, a clearly defined lot identification number should be agreed upon so as to help in improving traceability and ensuring 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 for providing assistance 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 for checking whether the export permits are issued properly.
- The relevant enforcement authorities, particularly of the range States and countries that have been found to be on illegal trade routes should check that the caviar species, wild or bred in addition to the geographic origin of the caviar match to those as provided on the label/packaging for minimizing the risk of fraud and illegal trade.
- The relevant authorities are recommended for reviewing the findings relevant to their country and also to check that whether there is a discrepancy between what is legally reported as imported and what is actually 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 for preventing illegally sourced wild caviar from entering the European Union market.
- For aquaculture operations, it is required to help the relevant authorities to 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, the ensuring of better traceability of caviar commodities within the trade is recommended.
- The CITES Management Authorities, in co-operation with the relevant fisheries authorities, are motivated to register all the sturgeon aquaculture operations throughout the country, including the ones which are not currently required to be registered under CITES Resolution Conf. 12. 7(Rev. CoP17) in order to reduce the risk of fraudulent practices.
- For retailers, it is required to remain up to date on the CITES labeling requirements and not promoting caviar harvesting from the wild where it is illegal. Also, provision to consumers with relevant information for ensuring to act legally is recommended.
- The online retailers are required to provide detailed information of caviar species, in terms of source and origin, and on regulations related to export so as to ensure that they are in compliance with the CITES Resolution Conf. 12.7 and domestic legislation.
Global Caviar Market Scope:
| Market size value in 2019
|| US$209.573 million
| Market size value in 2025
|| US$303.736 million
| Growth Rate
|| CAGR of 6.38% from 2019 to 2025
| Base year
| Forecast period
| Forecast Unit (Value)
|| USD Million
| Segments covered
|| Sturgeon Species, End-User, And Regions
| Regions covered
|| North America, South America, Europe, Middle East and Africa, Asia Pacific
| Companies covered
|| Peter Pan Seafoods, OLMA IV Inc., Marky's, D'Artagnan, Volzhenka, Kolikof Caviar & Fine Foods, Caviar Blanc
| Customization scope
|| Free report customization with purchase
- By Sturgeon Species
- Siberian Sturgeon
- Kaluga/Shortnose Hybrid
- Russian Sturgeon
- White Sturgeon
- Beluga Sturgeon
- By End-User
- Retail Shops
- Exclusive Cruise Ships
- By Regions
- United States of America
- United Kingdom
Frequently Asked Questions (FAQs)
Q1. What will be the caviar market size by 2025?
A1. The global caviar market is projected to reach the market size of US$303.736 million by 2025.
Q2. What is the size of global caviar market?
A2. Caviar market was valued at US$209.573 million in 2019.
Q3. What are the growth prospects for caviar market?
A3. The caviar market is projected to surge at a CAGR of 6.38% over the forecast period.
Q4. How is the global caviar market segmented?
A4. The global caviar market has been segmented by sturgeon species, end-user, and regions.
Q5. What factors are anticipated to drive the caviar market growth?
A5. The expansion of premium and luxurious hotel and restaurant chains at the global level is augmenting the market growth in the forecast period.