Market research

Caviar substitutes market in Iceland

Release date: Mar 28, 2026

Submission: 15 minutes after payment

Research period: 2017-2025

Report language:

Report language:

Submission method: to your account

File format: docx, xlsx

Single Report

$500

Instant access to detailed data on one specific market
Ideal for one-off tasks: niche assessments, presentations, investment decisions
Available in Excel and Word in 15 minutes after purchase
Cheaper than subscription, but each market requires a separate purchase

Best if you know exactly what you need

Buy a single report

Platform Subscription

from$600

Complete and unlimited data access across products and regions
Includes continuous data updates during subscription period
Download reports instantly in Word, and Excel formats
More cost-effective for multiple markets or regular analysis

Ideal for regular data users

View pricing plans

Earlier Report Observations

The market size for caviar substitutes in Iceland fluctuated between 2018 and 2024, starting at 474 thousand USD in 2018 and falling to a low of 275 thousand USD in 2021. This sharp decline in 2021 occurred alongside the introduction of comprehensive fisheries management laws for the 2021/2022 season, which regulated fishing activities and likely affected the availability of fish eggs used in production.

Market recovery began in 2022, reaching 447 thousand USD, and continued to grow to 611 thousand USD by 2024. During this period, new regulations came into effect: Act No. 46/2023 in June 2023 impacted fishing and aquaculture matters related to raw materials, while Acts No. 87/2024 and 54/2024 in mid-2024 focused on nature conservation and marine resource utilization. These legislative measures aimed to ensure sustainable sourcing, potentially influencing production costs and market dynamics.

In 2025, further regulatory updates were implemented, including new catch limits for the 2025/2026 fishing year and revisions to marine spatial planning. The Food Fund opened applications to support innovation in food production, including seafood and caviar substitutes, while industry players advanced processing technologies. Consumer behavior also shifted towards greater emphasis on sustainability and quality in seafood products.

Table of content

1. Disclaimer
2. Terms of use of the report
3. Product codes in the statistical classifications used in the report
4. Key Market Indicators and Trends
1. 4.1. Key Market Indicators
  1. 4.1.1. In value
    1. 4.1.1.1. Production, 2018-2024
    2. 4.1.1.2. Imports, 2018-2025
    3. 4.1.1.3. Exports, 2018-2025
    4. 4.1.1.4. Market size, 2018-2024
2. 4.2. Market Trends and Factors
5. Production
1. 5.1. Production in Iceland
  1. 5.1.1. In kind, 2018-2024, t
  2. 5.1.2. In value, 2018-2024, K $ US
2. 5.2. Production in the EU, 2018-2024
  1. 5.2.1. In kind, 2018-2024, t
  2. 5.2.2. In value, 2018-2024, K $ US
6. Imports
1. 6.1. Imports (Direct Data)
  1. 6.1.1. Imports - Total information
  2. 6.1.2. Imports in kind, t
    1. 6.1.2.1. Annual dynamics of product's imports to Iceland in kind, 2018-2025, t
    2. 6.1.2.2. Dynamics of product's imports in kind to Iceland by countries, 2018-2025, t
    3. 6.1.2.3. Structure of product's imports in kind by countries, 2018-2025
  3. 6.1.3. Imports in value, K $ US
    1. 6.1.3.1. Annual dynamics of product's imports to Iceland in value, 2018-2025, K $ US
    2. 6.1.3.2. Dynamics of product's imports in value to Iceland by countries, 2018-2025, K $ US
    3. 6.1.3.3. Structure of product's imports in value by countries, 2018-2025
  4. 6.1.4. Average price of product's imports, $ US/kg
    1. 6.1.4.1. Annual dynamics of average price of product's imports to Iceland, 2018-2025, $ US/kg
    2. 6.1.4.2. Dynamics of average price of product's imports to Iceland by countries, 2018-2025, $ US/kg
2. 6.2. Imports (Mirror Data)
  1. 6.2.1. Imports - Total information
  2. 6.2.2. Imports in kind, t
    1. 6.2.2.1. Annual dynamics of product's imports to Iceland in kind, 2018-2025, t
    2. 6.2.2.2. Dynamics of product's imports in kind to Iceland by countries, 2018-2025, t
    3. 6.2.2.3. Structure of product's imports in kind by countries, 2018-2025
  3. 6.2.3. Imports in value, K $ US
    1. 6.2.3.1. Annual dynamics of product's imports to Iceland in value, 2018-2025, K $ US
    2. 6.2.3.2. Dynamics of product's imports in value to Iceland by countries, 2018-2025, K $ US
    3. 6.2.3.3. Structure of product's imports in value by countries, 2018-2025
  4. 6.2.4. Average price of product's imports, $ US/kg
    1. 6.2.4.1. Annual dynamics of average price of product's imports to Iceland, 2018-2025, $ US/kg
    2. 6.2.4.2. Dynamics of average price of product's imports to Iceland by countries, 2018-2025, $ US/kg
7. Exports
1. 7.1. Exports (Direct Data)
  1. 7.1.1. Exports - Total information
  2. 7.1.2. Exports in kind, t
    1. 7.1.2.1. Annual dynamics of product's exports from Iceland in kind, 2018-2025, t
    2. 7.1.2.2. Dynamics of product's exports in kind from Iceland by countries, 2018-2025, t
    3. 7.1.2.3. Structure of product's exports in kind by countries, 2018-2025
  3. 7.1.3. Exports in value, K $ US
    1. 7.1.3.1. Annual dynamics of product's exports from Iceland in value, 2018-2025, K $ US
    2. 7.1.3.2. Dynamics of product's exports in value from Iceland by countries, 2018-2025, K $ US
    3. 7.1.3.3. Structure of product's exports in value by countries, 2018-2025
  4. 7.1.4. Average price of product's exports, $ US/kg
    1. 7.1.4.1. Annual dynamics of average price of product's exports from Iceland, 2018-2025, $ US/kg
    2. 7.1.4.2. Dynamics of average price of product's exports from Iceland by countries, 2018-2025, $ US/kg
2. 7.2. Exports (Mirror Data)
  1. 7.2.1. Exports - Total information
  2. 7.2.2. Exports in kind, t
    1. 7.2.2.1. Annual dynamics of product's exports from Iceland in kind, 2018-2025, t
    2. 7.2.2.2. Dynamics of product's exports in kind from Iceland by countries, 2018-2025, t
    3. 7.2.2.3. Structure of product's exports in kind by countries, 2018-2025
  3. 7.2.3. Exports in value, K $ US
    1. 7.2.3.1. Annual dynamics of product's exports from Iceland in value, 2018-2025, K $ US
    2. 7.2.3.2. Dynamics of product's exports in value from Iceland by countries, 2018-2025, K $ US
    3. 7.2.3.3. Structure of product's exports in value by countries, 2018-2025
  4. 7.2.4. Average price of product's exports, $ US/kg
    1. 7.2.4.1. Annual dynamics of average price of product's exports from Iceland, 2018-2025, $ US/kg
    2. 7.2.4.2. Dynamics of average price of product's exports from Iceland by countries, 2018-2025, $ US/kg
8. Trade balance
1. 8.1. Trade balance (Direct Data)
  1. 8.1.1. In kind, t
  2. 8.1.2. In value, K $ US
2. 8.2. Trade balance (Mirror Data)
  1. 8.2.1. In kind, t
  2. 8.2.2. In value, K $ US
9. Top buying and selling countries, 2018-2025
1. 9.1. Direct Data
  1. 9.1.1. Import in Value by Countries-buyers
  2. 9.1.2. Export in Value by Countries-suppliers
2. 9.2. Mirror Data
  1. 9.2.1. Import in Value by Countries-buyers
  2. 9.2.2. Export in Value by Countries-suppliers

Production caviar substitutes in Iceland

In value, 2018-2021, K $ US

In 2021, Iceland's output of caviar substitutes was valued at 11 659 K $ US, marking a strong 13.8% increase compared to 2020. Over the period from 2018 to 2021, production decreased by 11.3%, with a compound annual growth rate of 3.9%. The maximum value was recorded in 2019 at 15 106 K $ US, while the minimum was in 2020 at 10 246 K $ US. The largest increase occurred in 2019 with a 14.9% rise, and the largest decline was in 2020 with a 32.2% drop.

Annual dynamics of production in Iceland in value, 2018-2021, K $ US

Parameter		2019	2020	2021	CAGR
1	Change from last year	14.9%	(32.2%)	13.8%	(3.9%)

Source: SHEV.io

In kind, 2018-2021, t

In 2021, Iceland produced 673 tonnes of caviar substitutes, which is 17.7% higher than in 2020. From 2018 to 2021, production decreased by 24.8%, with a compound annual growth rate of 9.1%. The maximum volume was recorded in 2019 at 1 033 tonnes, and the minimum was in 2020 at 572 tonnes. The largest decline was observed in 2020 with a 44.6% decrease.

Annual dynamics of production in Iceland in kind, 2018-2021, t

Parameter		2019	2020	2021	CAGR
1	Change from last year	15.2%	(44.6%)	17.7%	(9.1%)

Source: SHEV.io

Exports caviar substitutes from Iceland

Exports in kind, t

Exports of caviar substitutes from Iceland declined for the second consecutive year. In 2021, exports amounted to 441 tonnes, showing a robust 22.8% fall compared to 2020. Between 2018 and 2021, exports decreased by 50.8%, equating to an annualized rate of 21.0%. The maximum volume was recorded in 2019 at 1 033 tonnes. The largest increase occurred in 2019 with a 15.3% rise, while the largest decline was in 2020 with a 44.6% drop.

Annual dynamics of product's exports from Iceland in kind, 2018-2021, t

Parameter		2019	2020	2021	CAGR
1	Change from last year	15.3%	(44.6%)	(22.8%)	(21.0%)

Source: SHEV.io

From 2018 to 2021, France, the United States, and the Netherlands were the top buyers of caviar substitutes from Iceland in terms of volume. France accounted for 50.5% of exports, the United States for 14.9%, and the Netherlands for 9.1%. Together, these three countries comprised 74.6% of total exports in kind.

Structure of product's exports in kind by countries, 2018-2021

Source: SHEV.io

World map of product's exports from Iceland in kind, 2018-2021

Source: SHEV.io

Exports in value, K $ US

In 2021, Iceland exported 11 583 K $ US worth of caviar substitutes, indicating a 13.3% uptick from 2020. Over the period from 2018 to 2021, exports decreased by 12%, with a compound annual growth rate of 4.2%. The maximum value was recorded in 2019 at 15 102 K $ US, and the minimum was in 2020 at 10 223 K $ US. The largest increase occurred in 2019 with a 14.7% rise, and the largest decline was in 2020 with a 32.3% drop.

Annual dynamics of product's exports from Iceland in value, 2018-2021, K $ US

Parameter		2019	2020	2021	CAGR
1	Change from last year	14.7%	(32.3%)	13.3%	(4.2%)

Source: SHEV.io

From 2018 to 2021, France, the United States, and the Netherlands were the main buyers of caviar substitutes from Iceland in value terms. France held a 55.4% share of exports, the United States 13.3%, and the Netherlands 8.5%. Combined, these three countries accounted for 77.3% of total exports in value.

Structure of product's exports in value by countries, 2018-2021

Source: SHEV.io

World map of product's exports from Iceland in value, 2018-2021

Source: SHEV.io

Imports caviar substitutes to Iceland

Imports in kind, t

Imports of caviar substitutes into Iceland declined for the third consecutive year. In 2021, imports totalled 10 tonnes, equivalent to a steep 81.8% loss relative to the prior year. Over the period from 2018 to 2021, imports decreased by 86.6%, with a compound annual growth rate of 48.8%.

Annual dynamics of product's imports to Iceland in kind, 2018-2021, t

Parameter		2019	2020	2021	CAGR
1	Change from last year	(15.4%)	(12.8%)	(81.8%)	(48.8%)

Source: SHEV.io

From 2018 to 2021, Norway consistently accounted for 80.3% of Iceland's total imports of caviar substitutes in kind, indicating a high concentration on this market. The remaining volume was shared among other countries.

Structure of product's imports in kind by countries, 2018-2021

Source: SHEV.io

World map of product's imports to Iceland in kind, 2018-2021

Source: SHEV.io

Imports in value, K $ US

Iceland's imports of caviar substitutes declined for the third consecutive year. In 2021, Iceland imported 200 K $ US worth of caviar substitutes, down by 47.3% from a year earlier. Between 2018 and 2021, imports decreased by 59.3%, equating to an annualized rate of 25.9%.

Annual dynamics of product's imports to Iceland in value, 2018-2021, K $ US

Parameter		2019	2020	2021	CAGR
1	Change from last year	(20.3%)	(3.1%)	(47.3%)	(25.9%)

Source: SHEV.io

From 2018 to 2021, Norway remained the main market for Iceland's imports of caviar substitutes in value terms, with a share of 78.6% of total flows. The rest of the volume was fragmented across numerous other destinations.

Structure of product's imports in value by countries, 2018-2021

Source: SHEV.io

World map of product's imports to Iceland in value, 2018-2021

Source: SHEV.io