The caviar market - Italy (2024)

1.2 World Market

The value of the global caviar market is expected to grow steadily from **** to ****. Starting from $*.* billion in ****, it is expected to increase steadily to $*.** billion in ****. This upward trend reflects an overall increase of **.* percent over the period.

Caviar market value World, ****-****, US$ billion Market Data Forecast

Analysis of the value of caviar production in Europe between **** and **** shows a downward trend. In ****, the value was **.** billion euros, peaking in **** at **.** billion euros. Since ****, however, there has been a sharp decline, starting with a significant drop to **.** billion euros and continuing to decline to **.** billion euros in ****. This represents a decline of **.* percent from the initial value in ****.

Caviar production value Europe, ****-****, Mld EU€ Eurostat

1.3 Italian Caviar Market

According to data released by Api (***)[***].

Through careful research of the major caviar producers and analysis of their turnover, data reflecting the value of the caviar market in Italy from **** to **** was aggregated. The market shows significant growth from ****, with a value of **,*** million euros, to **,*** million euros in ****, marking an overall increase of **.* percent. The highest growth occurred between **** and ****, with an increase of **.* percent, indicating vigorous market expansion during that period. From **** to ****, the increase was smaller, at *.* percent.

Caviar Market Value Italy, ****-****, ML EU€ Company Register, Businesscoot elaboration

The companies that were taken into account are: Cru Caviar, Ars Italica, Royal Food Caviar, Cavalier Caviar Club, Calvisius, Adamas Caviar, Re Caviale

1.4 Imports and Exports

In the following analysis, we present three graphs describing the dynamics of the caviar market in Italy, based on data provided by the main producers. These graphs provide a comprehensive view of market trends, international positioning, and the evolution of caviar in Italy.

To analyze Italian caviar trade flows, the following dimensions are considered:

Import-export trends over the past * years Main export source countries in **** Main source countries of imports in ****

Export and Import of Caviar Italy, ****-****, in ML of US$ UN Comtrade Analysis of data on caviar exports and imports in Italy from **** to **** reveals a substantial increase in exports, with a growth of **.** percent from **** to ****, from US$**.** million to US$**.** million. As for imports, more volatility is observed with a peak of $*.** million in ****, followed by a decline to $*.** million in ****. This **.** percent decline from the previous year suggests changes in availability or consumption preferences in the domestic market. The coverage ratio, which indicates the ratio of the value of exports to the value of imports, showed a downward trend over the observed period, starting at **.** in **** and falling to **.** in ****.

Italian caviar exports indicate a varied distribution among different international markets, with particularly high interest from ...

1.5 The impact of recent geopolitical events

A two-year analysis of consumer prices of fish and fish products since the beginning of the Russian invasion of Ukraine into Italy shows a gradual growth followed by a stabilization phase toward the end of the period studied.

Development of consumer prices fish and fish products Italy, ****-****, in numbers Istat

consumer price trends for fish and fish products in Italy from January **** to December **** show a generally increasing trend. It starts from an index of ***.* in January **** to ***.* in December ****. This indicates an overall increase of **.* percent over the observed period. The peak is reached in August **** with an index of ***.*.

Trends in producer prices:

An analysis of data on price trends for the fish, shellfish and mollusc processing and preservation industry in Italy between January **** and December **** shows an overall increase in prices.

Price trends at the fish, shellfish and mollusc processing and preservation industry Italy, ****-****, in numbers Istat

Starting with an index of ***.* in January ****, there is an increase to reach ***.* in December ****. This corresponds to an increase of **.* percent over the two-year period. We note an upward trend, with peaks and slight fluctuations, as evidenced by the high of ***.* in October ****.

2.1 Evolution of Italian average income

There is a correlation between the increase in average income and the demand for caviar, which can be explained through the concept of luxury good and changes in consumer preferences

Caviar is considered a luxury and prestigious food in many cultures. it is often associated with high lifestyles, special occasions, and social status. When the average income of a population rises, people may have more financial means to indulge in luxury products such as caviar. Consequently, an increase inaverage income may lead to an increase in demand for caviar, as people are more inclined to spend on exclusive products.

In addition, increased income could also influence consumer preferences. As people earn more, more sophisticated and luxury-oriented tastes may develop. This could lead to increased interest in products such as caviar, as people may seek to experience the high quality and exclusivity associated with such products.

Average net household income, by area Italy, ****-****, in euros Source: ****

The graph shows data on average net household income for different zones in Italy for the years **** and ****. in ****, the average net household income was highest in the Northeast, with **,*** euros, followed by the Northwest with **,*** euros. The Center had a median net family income ...

2.2 Interest registered online

In the following analysis we understand how the online interest of caviar in Italy varies in recent years.

Interest in caviar online in Italy over time Italy,****-****, in numbers Google Trends, Businesscoot elaboration

starting from a value of **.* in January ****, interest peaks in December **** with **.**, then declines and closes the period considered with a value of **.** in April ****. This indicates an increase in interest of *.** percent between the initial point and the last recorded period. it is important to note the two significant peaks in December **** and December ****.

In the table below it is possible to view the interest for each Italian region on the online caviar search. The values are calculated on a scale from * to ***, where *** indicates the location with the highest search frequency as a proportion of total searches in that location and the value ** indicates a location with half of the searches. The value *, on the other hand, indicates a locality for which insufficient data were collected.

2.3 Geographical distribution of demand

The following map represent the geografical distribution of the avarage monthly expenditure in fish and seafood for household in Italy.

For more precision, let's analyze spending by Macro Region of Coicop code *****, which contains more narrowly fish eggs.

2.4 Sustainable innovations in caviar harvesting

A German company called Vivace goes a step further and claims it can sustainably grow good-tasting caviar without killing the fish. Vivace claims that once the farmed sturgeons have grown to maturity, the eggs can be massaged by the ready-to-lay females. Angela Köhler, the German scientist who developed the process, was inspired after witnessing the waste associated with caviar production during a visit to a sturgeon farm in Iran. In an interview with NPR, Köhler says her new massage method could help reduce black market demand for caviar and save endangered wild sturgeons (***).

In America, on the other hand, the California Caviar Company has launched the world's first sustainable caviar company. From the beginning, it has been true to its core mission: sustainability, innovation and education. By linking old-world traditions with the new world of sustainable aquaculture and culinary innovation, CCC has become a world leader in the production of high-quality, sustainably raised caviar, sought after by star chefs, discerning connoisseurs, and those who are discovering the pleasures of caviar(***).

3.1 Caviar companies

Companies producing caviar are registered under the following ateco code: **.**.* "the production of fish, crustacean and mollusc products: fish fillets, eggs, caviar, caviar substitutes, etc."

From istat data it is possible to know the number of companies, along with their legal breakdown and turnover, that are part of the following ateco code **.**.*

Number of companies active in the production of fish, shellfish and mollusc products: fish fillets, eggs, caviar, caviar substitutes, etc. Italy, ****-****, in absolute value Source: ****

starting with *** companies in ****, there was a marginal increase in the first years until reaching *** in ****. After a slight decrease in **** to *** companies, a significant increase was observed in ****, bringing the number to ***. Thereafter, the number decreased slightly, stabilizing at *** in ****. This represents an increase of *.** percent compared to ****.

The following analysis shows in detail how Italian enterprises are divided in the sector. Legal form of enterprises active in the in the production of fish, crustacean and shellfish products: fish fillets, eggs, caviar, caviar substitutes, etc. Italy, ****, as a percentage of firms Istat The graph shows a predominance of limited liability companies, which account for **.** percent of the total. Sole proprietorships, which include individual entrepreneurs, freelancers and the self-employed, make up **.** percent. General ...

3.2 The value chain

The value chain in the caviar market includes several key stages from breeding to final sale to the consumer. Here is a description of typical steps in the value chain for the caviar industry:

Breedingand Incubation: This is the initial stage in which sturgeons, the fish species that produce caviar, are bred and hatched. The health and genetics of the fish are crucial at this stage, as they influence the quality and quantity of caviar that can be harvested later. Aquaculture: After hatching, young sturgeon are reared in aquaculture systems. This stage is vital to the growth of the fish until they are mature to produce eggs. Companies like Agroittica focus on sustainable aquaculture practices to ensure fish health and minimize environmental impact. Harvesting: Once sturgeons reach maturity, the caviar (***) is harvested. This process must be carefully managed to ensure that the quality of the eggs is not compromised. Processing and Refining: After harvesting, the caviar is processed, which includes cleaning, salting and packaging the eggs. This step is critical as it directly affects the taste, texture and shelf life of the caviar. Packaging: Innovations in packaging are significant in the caviar industry, especially with regard to sustainability. New biodegradable and ...

3.3 Distribution channels

In Italy, caviar is distributed through various channels, including:

Luxury restaurants and high-class hotels: Gourmet restaurants and luxury hotels often include caviar on their menus, offering customers exclusive dining experiences. These places tend to attract customers with high purchasing power who seek fine dining experiences. High-end grocery stores: Some specialty grocery stores, such as those located in upscale neighborhoods or metropolitan areas, may offer caviar in their upscale produce department. These stores often cater to a clientele looking for delicious ingredients for cooking at home. Websites and online stores: There are online stores that offer caviar of various types and origins, allowing consumers to purchase it from the comfort of home. These shops can also provide detailed information on the provenance and characteristics of the caviar. The major players have updated their strategies through sites , also specializing in online sales of their products through quick delivery for example Caviar House with shipping under **h and Caviar Shop Online in **h. Specialized fairs and markets: Some food fairs and food markets may feature vendors offering caviar to visitors. These events can serve as opportunities to expose caviar to a wider and more diverse audience. Such as the **** Summer Fancy Food Show, to ...

3.4 The main market players

From our analysis, the following Italian caviar companies could be identified:

Cavalier Caviar Club: This company is a renowned Italian caviar producer, known for its wide range of high-quality caviar products, including low-salt "Malossol" variants. Their production emphasizes the importance of quality and preparation techniques that enhance the caviar's organoleptic profiles. Cavalier Caviar Club also offers a line of smoked products, using fine woods for the smoking process. Ars Italica: This caviar company is known for its excellence and sustainability, producing high-quality caviar in the Ticino Park, an area recognized for its controlled production. Ars Italica offers several varieties of caviar, including Oscietra Classic, Royal and Imperial, Da Vinci and Sevruga. Cru Caviar is a renowned Italian caviar producer, known to be one of the largest producers of Beluga caviar in Italy and internationally. Their experience in the industry spans over ** years in distribution and ** years in direct caviar production. They own four farms in Italy, located between the regions of Veneto and Lombardy. Adamas Caviar stands out in the Italian caviar scene for its exclusivity and attention to quality. Located in Pandino, Lombardy, the company takes advantage of crystal-clear waters from the Alps and natural aquifers to raise sturgeon, providing ...

4.1 Types of caviar produced in Italy

Main varieties of caviar:

Beluga Caviar: It is the most expensive and valuable caviar ever because of its rarity. Produced from the sturgeon Acipenser Huso Huso, commonly known as "Beluga." The color shimmers in shades from light gray to anthracite. Beluga caviar is finely creamy and melts gently on the tongue, giving our palate tasty notes of fresh, buttery, nuttiness and nuttiness.

Osetra Caviar: Unlike beluga which is much milder, osetra caviar (***).

Sevruga caviar: It comes from Arcipenser stellatus which produces smaller and generally darker eggs than osetra but very similar, so much so that the lighter variety (***) is often confused. However, sevruga caviar remains a popular caviar because of its strong distinct flavor.

Kaluga caviar:Comes from the eggs of the female Huso Dauricus and the male Acipenser Schrenkii that have always inhabited the waters of the Amur River on the China-Russia border. It is a newer but much sought-after hybrid. Very similar to the sometimes confused beluga caviar, it has a distinctive color that shimmers light green and gold in the light (***).

Almas caviar:This type of caviar, also known as albino caviar, is very difficult to find. Almas beluga from the Caspian Sea is the most luxurious, rarest ...

4.2 Prices of the various types

The diagram shows the trend of the consumer price index for a food category by highlighting price changes.

Average consumer price index for the whole community for fish and fish products Italy, ****-****, in numbers Istat

The graph shown indicates steady growth from **** to ****. Starting from a value of ***.* in ****, the index increased to ***.* in ****. This represents an overall increase of **.* percent over this seven-year period. The most significant growth occurred between **** and ****, where the index rose from ***.* to ***.*

4.3 Current and future trends

Possible new regulations

The situation internationally could change because of a regulation that has a good chance of being passed in the U.S. that would ban the marketing of caviar from species other than those that naturally occur in California (***). "The goal is to protect sturgeon but there is no difference between wild and farmed." A vision that could have devastating effects on the market[***].

What's new: the **k Albino Caviar

Albino caviar is extremely valuable, inimitable for its golden coloring. A true connoisseur's rarity, so much so that in ancient times it was reserved exclusively for Shahs and Czars. Its eggs are small in size, and this sturgeon is extremely vulnerable and requires a waiting time of no less than *. After a long wait of eight years, spent entirely on the farm located within the nature reserve of the Lombard Ticino Valley Park, this year Ars Italica **K caviar obtained from the sterlet sturgeon in the albino variety is finally ready. Extremely exclusive, and with a price tag of €*,***.**/kg[***].

Price reversal

In times of economic uncertainty, luxury items tend to increase in popularity. Perhaps this is due to the fact that high-income people delay buying big-ticket items but ...

5.1 Regulation

Decree May *, ****: Marking system for primary and secondary containers of caviar and registration of firms producing or repackaging caviar

For the purposes of this decree, the following definitions are adopted:

caviar: processed eggs of species belonging to the order Acipenseriformes (***), as listed in Annex * of this Decree; batch identification number: a number corresponding to theinformation of the traceability system of the caviar, used by theproduction and repackaging facilities; non-reusable label: a label or marking that cannotcan be removed without being damaged and which cannotbe transferred to another container, with the characteristics set forth inarticle *(***); pressed caviar: caviar composed of eggs of one or morespecies belonging to the order Acipenseriformes, remaining after theprocessing and preparation of a caviar of higher quality'; primary container: jars, cans or other containers

in direct contact with the caviar;

production facility: structure present in the country of caviar production of species belonging to the order Acipenseriformes, responsible for the initial processing of caviar and its packaging in a primary container; processing and packaging facility: facility thatreceives the caviar in order to repackage it, including following possibletreatment, into new primary containers; secondary container: container in which theprimary containers; source code: code corresponding to the origin of thespecimens from ...

6.1 Segmentation

Italian Caviar Manufacturers

International Caviar Manufacturing Companies

• Petrossian
• Caviar Import Srl
• Italian Caviar S.r.l
• Kaluga Queen
• Cavalier Caviar Club
• Adamas Caviar
• Calvisius
• Royal Food Caviar
• Premium Caviar
• Caviar Giaveri
• Sterling Caviar
• California Caviar Company
• Caviar House & Prunier
• Sturgeon AquaFarms