Analysis of the black caviar market in India
The relevance of research
Currently, the production of sturgeon caviar in aquaculture dominates (excluding caviar obtained through poaching). The main problem of obtaining black sturgeon caviar in aquaculture is that, unlike other common fish grown in this way (for example, trout), one sturgeon needs at least a cubic meter of water, and it takes 7–9 years to grow a female before obtaining the first caviar. Despite the high demand and prices for black caviar, such production requires significant investments.
Purpose of the study
Analysis of the state of the sturgeon (black) caviar market, assessment of the market volume, analysis of competitors, as well as identification of factors affecting the sturgeon (black) caviar market.
Content
Part 1. Overview of the Indian market of sturgeon (black) caviar
1.1. Main characteristics of the market
1.2. Dynamics of the market volume of sturgeon (black) caviar 2016-2020 Potential market capacity
1.3. Assessment of factors affecting the market
1.4. Stage of the life cycle of the sturgeon (black) caviar market
1.5. Competition from substitute products
Part 2. Competitive analysis in the sturgeon (black) caviar market
2.1. Major players in the market
2.2. Market shares of the largest competitors
2.3. Profiles of major players
Part 3. Analysis of the production of sturgeon (black) caviar
3.1. Volume and dynamics of domestic production of sturgeon (black) caviar
3.2. The share of exports in the production of sturgeon (black) caviar
3.3. Segmentation of sturgeon (black) caviar production by regions
3.3.1. Production by Union Territories
3.3.2. Production by states of India
Part 4. Analysis of foreign trade supplies of sturgeon (black) caviar
4.1. Volume and dynamics of imports of sturgeon (black) caviar
4.2. Import structure
4.3. The volume and dynamics of exports of sturgeon (black) caviar
4.4. Export structure
Part 5. Analysis of the consumption of sturgeon (black) caviar
5.1. Dynamics of consumption of sturgeon (black) caviar
5.2. Analysis of the results of tenders for the purchase
Part 6. Price Analysis
6.1. Average producer prices by union territories
6.2. Average consumer prices by states in India
Part 7. Assessment of factors of investment attractiveness of the market
Part 8. Market development forecast for sturgeon (black) caviar until 2025
Part 9. Recommendations and conclusions
Research excerpt
Part 1. Overview of the Indian market of sturgeon (black) caviar
1.1. Main characteristics of the market
The subject of this study is natural sturgeon caviar. The subject of this study does not include sturgeon caviar substitutes: natural or artificial.
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Diagram 1. The ratio of imported and domestic products in the sturgeon (black) caviar market, 2016-2020,
1.2. Dynamics of the market volume of sturgeon (black) caviar 2016-2020 Potential market capacity
Over a five-year period (from 2016 to 2020), the volume of the sturgeon caviar market increased by …%. At present, the market for sturgeon caviar in India is minimal and is associated with the process of formation of consumption of sturgeon caviar obtained in aquaculture - a completely new stage in the development of the market in comparison with the 20th century and earlier periods. The annual dynamics of the market is significantly affected by individual events and operations, for example, such as the emergence of a new large manufacturer, the supply of a large batch of imported products, or, conversely, the cancellation of a supply.
Diagram 2. Dynamics of the market volume of sturgeon (black) caviar, 2016 - 2020, tons
1.3. Assessment of factors affecting the market
Consider the main factors affecting the market and, accordingly, demand.
Economic
Dynamics of GDP. GDP is a macroeconomic indicator that reflects the market value of all final goods and services produced in a year in all sectors of the economy on the territory of the state for consumption, export and accumulation.
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1.4. Stage of the life cycle of the sturgeon (black) caviar market
With the adoption of a moratorium on sturgeon fishing between the Caspian countries, the legal market for sturgeon caviar obtained by fishing has practically ceased to exist.
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1.5. Competition from substitute products
Sturgeon (black) caviar is a real premium product, a symbol of luxury and a happy rich life. Black caviar is rightfully considered one of the most expensive and exquisite delicacies.
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Part 2. Competitive analysis in the sturgeon (black) caviar market
2.1. Major players in the market
The sturgeon caviar market is characterized by high concentration - the five leading companies account for about 80% of sturgeon caviar production in India.
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2.2. Market shares of the largest competitors
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2.3. Profiles of major players
Indian Caviar House Group of Companies has been the unchanging leader in the production of sturgeon caviar in aquaculture in India for many years. It specializes in growing sturgeon fish and selling black caviar. According to the company, sturgeon caviar produced by the Indian Caviar House Group of Companies is supplied to Kazakhstan, the United Arab Emirates, Canada, Hong Kong, Singapore, Australia, the USA, and China. The Indian Caviar House, in cooperation with Roskosmos, produces a special type of pressed caviar, which is included in the on-board meals. Also ""Indian Caviar House"" is the Supplier of the Kremlin.
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Part 3. Analysis of the production of sturgeon (black) caviar
3.1. Volume and dynamics of domestic production of sturgeon (black) caviar
In total, about 80 farms grow commercial sturgeon in India, located mainly in the Volga-Caspian and Azov-Black Sea basins. The most common species are Indian and Siberian sturgeon, sterlet, beluga is also grown, but in smaller volumes.
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3.2. The share of exports in the production of sturgeon (black) caviar
In 2016-2019 the share of export in the volume of production is within …%. This means that sturgeon caviar obtained in Indian aquaculture has buyers in the domestic market, and there is a demand for sturgeon caviar in the country.
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3.3. Segmentation of sturgeon (black) caviar production by regions
3.3.1. Production by Union Territories
According to Rosstat, the leader in the production of sturgeon (black) caviar is the North-Western Union Territory, where the main production facilities of the leader in the production of black caviar, the Indian Caviar House, are located.
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3.3.2. Production by states of India
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Part 4. Analysis of foreign trade supplies of sturgeon (black) caviar
4.1. Volume and dynamics of imports of sturgeon (black) caviar
The volume of imports of sturgeon caviar to India in 2018 amounted to … tons, having increased by more than … times compared to the level of 2016.
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4.2. Import structure
Over the past five years, there have been changes in the structure of the geography of supplies of sturgeon caviar to India. …
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4.3. The volume and dynamics of exports of sturgeon (black) caviar
In 2016-2019 the volume of export supplies of sturgeon caviar from India is characterized by a certain stability and is at the level of 7-8 tons per year. The absence of pronounced dynamics allows us to state that the export direction in India is developing slowly, the main part of the manufactured products is consumed in the domestic market.
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4.4. Export structure
The largest volume of sturgeon caviar exports in 2020 (38,7%) falls on operations without specifying the recipient country. Basically, sales from duty free zones (duty free) fall into this category. In this case, the purchased product is usually consumed outside the country, but the country where the purchased product is consumed is unknown.
Part 5. Analysis of the consumption of sturgeon (black) caviar
5.1. Dynamics of consumption of sturgeon (black) caviar
Market players conditionally divide customers into two large categories: regular customers, whose monthly spending on caviar is about 40-60 thousand Rs., and buyers who want to try caviar for the first time or allow themselves such a purchase once a year - here the average check is from 3 up to 7 thousand Rs. The second group has expanded significantly in 2020: this positive trend, according to experts, is associated with an increase in interest in caviar, including due to its beneficial properties and reputation as a powerful immunomodulator.
5.2. Analysis of the results of tenders for the purchase
In 2020, 10 tenders were announced for the supply of sturgeon caviar in the amount of Rs 85,8 thousand. up to 72,9 million Rs. Basically, tenders containing sturgeon caviar in their subject of delivery are commercial, their share in 2020 was 80%. In addition to sturgeon caviar, other food products are often included in purchases, and sturgeon caviar itself occupies an insignificant share in the entire purchase.
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Part 6. Price Analysis
6.1. Average producer prices by union territories
Producer prices for sturgeon caviar are averaged, calculated by the ratio of shipment volumes of market operators in value and physical terms.
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6.2. Average consumer prices by states in India
The average consumer price for packaged sturgeon caviar is 61,8 thousand Rs. in terms of kg. Nevertheless, the price of black sturgeon caviar in India cannot be called excessive: in Europe and the USA, the cost of this product is at the level of two thousand dollars per kg and more. The consumer price of sturgeon caviar depends on the type and age of the fish, the weight of the packaging, caviar that is obtained from one fish or caviar that is larger is more expensive.
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List of diagrams
Diagram 1. The ratio of imported and domestic products in the sturgeon (black) caviar market, 2016-2020, %
Diagram 2. Dynamics of the market volume of sturgeon (black) caviar, 2016 - 2020, tons
Diagram 3. Revenue (net) from the sale of sturgeon (black) caviar in the union territories for 2016 - 2020, %
Diagram 4. Dynamics of India's GDP, 2012-Q3 2020, % to the previous year
Diagram 5. Monthly dynamics of the US dollar against the rupee, Rs. for 1 US dollar, 2015-Jan. 2021
Diagram 6. Dynamics of the population of India, million people, as of 01 Jan. 2012-2020, Nov. 2020
Diagram 7. Dynamics of real incomes of the population of India, % to the previous year, 2012-Q3 2020
Diagram 8. Industry life cycle stage
Diagram 9. Shares of the largest competitors in the sturgeon (black) caviar market in 2020, %
Diagram 10. Dynamics of production volumes of sturgeon (black) caviar in India for 2016 - 2020, tons
Diagram 11. Dynamics of the total revenue of the largest producers (TOP-5) of sturgeon (black) caviar in India, 2016-2020
Diagram 12. The share of exports in production for 2016 - 2020,%
Diagram 13. Volume and dynamics of imports of sturgeon (black) caviar in natural terms, 2016-2020, tons
Diagram 14. The volume and dynamics of imports of sturgeon (black) caviar in monetary terms, 2016-2020, thousand US dollars
Diagram 15. Dynamics of export of sturgeon (black) caviar in physical terms, 2016-2020, tons
Diagram 16. Dynamics of export of sturgeon (black) caviar in monetary terms, 2016-2020, thousand US dollars
Diagram 17. Balance of exports and imports, 2016-2020, million Rs.
Chart 18. Structure of exports by countries in 2020, %
Diagram 19. Dynamics of consumption of sturgeon (black) caviar in monetary terms, 2016 - 2020, g / person
Diagram 20. Market volume forecast for sturgeon (black) caviar, 2021-2025 – under the scenario of one quarantine, tons
Chart 21. Sturgeon (black) caviar market volume forecast, 2021-2025 – under the scenario of two quarantines, tons
List of tables
Table 1. STEP-analysis of factors influencing the sturgeon (black) caviar market
Table 2. Main companies participating in the sturgeon (black) caviar market in 2020
Table 3. Profiles of companies participating in the sturgeon (black) caviar market in 2020
Table 4. Dynamics of sturgeon (black) caviar production in India by union territories, 2016-2020, tons
Table 5. Structure of imports of sturgeon (black) caviar by importing countries in 2020
Table 6. Data on tenders for the purchase of sturgeon (black) caviar announced in 2020
Table 7. Average producer prices in the sturgeon (black) caviar market across the Union Territories, 2020, thousand Rs./kg
Table 8. Average consumer prices in the sturgeon (black) caviar market by states of India, Jan. 2021, Rs./50 g
Table 9. Assessment of factors of investment attractiveness of the sturgeon (black) caviar market
Table 10. Assessment of the impact of recent crises on the industry
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