The global Caviar Market size is expected to reach USD 496.3 million by 2025, according to a new report by Grand View Research, Inc., progressing at a CAGR of 8.7% over the forecast period. Increasing use of caviar as seasoning or to sprinkle it on various food items such as pizza, burgers, sandwiches, ice cream, along with associated health benefits, is expected to propel the market demand over the forecast period.
Asia
Pacific has been the fastest growing regional market in the world owing to
increase in imports and exports, rapidly developing economies, and availability
of a variety of fishes in the region. The market in Asia Pacific is anticipated
to gain momentum due to high demand from developing countries like Japan and
China.
The
industry is witnessing rapid growth as caviar and related products have found
wide applications in different sectors. The profitability aspects and rising
demand from the consumers to compensate for their nutrient deficiencies are
likely to attract new players and eventually benefit the market expansion.
Use
of caviar in cosmetic products and health supplements is the latest trend in
the market, which enables custom manufacturers to meet the desired product
specifications by the customers. Restaurants has been the largest application
segment for this product, wherein caviar is used in different food items, which
not just improves taste but also makes them healthy.
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Caviar
Market Report Highlights
- Europe is expected to expand at a CAGR
of 8.2% from 2019 to 2025, owing to high spending ability of the consumers
and rise in health consciousness
- In China, sevruga accounted for the
largest share of 27.8% in 2018 on account of their high imports and
exports. This product is used as a seasoning agent, health supplement, and
consumed as a premium delicacy
- The Caviar market in the U.S. is
projected to exhibit a CAGR of 8.8% from 2019 to 2025, wherein the major
share is held by The Caviar Co., California Caviar Corp., and few other
companies
- Restaurants accounted for 72.2% share in
Germany with a revenue of USD 19.3 million in 2018
- Product innovation, along with formation
of alliances with distributors located in the developing economies
including China and India, is projected to provide the competitive edge to
the manufacturers in the near future
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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