Foie Gras Market Report Overview
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The global Foie Gras Market size was USD 781.83 million in 2021 and is expected to reach USD 1084.07 million by 2027, exhibiting a CAGR of 5.6% during the forecast period. The COVID-19 pandemic has been unprecedented and staggering, with the Foie Gras Market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels.
To put it simply, foie gras is fatty liver. Force-feeding corn to ducks or geese to fatten their livers is a common method used to produce upscale cuisine. Using feeding tubes called gavage, this forceful feeding process is carried out. Duck or goose liver is used to make the delicacy dish known as foie gras. After around 100 days of feeding to help them put in weight, ducks and geese are killed. Compared to the goose, the duck is more commonly utilised to make foie gras. The narrow food storage system in the alimentary canal of ducks and geese makes them perfect for making foie gras.
The advent of new cutting-edge electrical technology and ongoing unique inventions both contribute to the foie gras market growth. The market for foie gras is also expanding as a result of the tremendous advancement in animal husbandry, which includes automated feeders.
COVID-19 Impact: Pandemic Led To A Decline in the Market Growth
The COVID-19 pandemic and the global lockdown guidelines had an impact on a number of commercial enterprises. Additionally, COVID-19 made it more difficult for people to mobilize for employment, especially farmers. People's incomes and purchasing power have declined as a result. Food insecurity and the number of undernourished people increase as a result of rising food prices. Due to the increased demand for foie gras products following the outbreak, the foie gras industry would grow.
Latest Trends
"Agreement Toward Sustainable Land Management To Increase Agricultural Productivity"
The development of production houses and their incorporation are promoting market expansion. Additionally, the market is expanding due to the consumption rate, which is rising quickly along with recurring demands. Over the years, European nations have consistently dominated the foie gras industry, and this tendency is likely to continue in the years to come. The major Foie Gras producer is France.
Foie Gras Market Segmentation
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- By Type Analysis
By Type, the market is fragmented into Conventional and Organic amongst which Conventional is the leading segment.
- By Application Analysis
By Application, the market is bifurcated into Food and Beverages, Personal Care, Pharmaceuticals, Animal Feed, Other amongst which Food and Beverages is the leading segment.
Driving Factors
"Rising Disposable Income of Consumers to Amplify Market Growth"
The foie gras market share is primarily driven by the rising emigrant population and the need for high-quality, delectable food. Expandable income and a rising non-vegetarian population are two additional significant variables driving the market's expansion. Foie Gras byproducts, such as foie gras meal for animal grazing, are in high demand right now. Due to the products' high nutritional value, consumers found them more appealing, which is growing the market. Demand for byproducts of foie gras was increased by consumers' higher discretionary income in industrialized nations and their improved Foie Gras productivity.
"Rising Animal Feed Consumption to Boost Market Growth"
In nations that are fast developing, like China, the demand for animal protein increased, as did the demand for high-protein animal feedstuffs like foie gras meal. Production of foie gras is in higher demand as long-term growth rates surpass increases in yield per land unit. Foie Gras meal is therefore used both as food for humans and as animal feed. Demand for protein-enriched meals is rising as a result of the advantages they offer in terms of health and the expansion of livestock, cattle, ruminants, and other animals on the market worldwide.
Restraining Factors
"Lack of Regulatory Standards and High Cost of the Product to Be a Major Restraint"
The artificial manufacture of fatty livers for foie gras raises the important question of animal welfare and impedes market expansion. Lack of regulatory standards is among the major issues limiting the growth of the foie gras meal industry. This trend is far more pervasive in nations where national farm safety standards are governed by frameworks based on scientific risk.
Foie Gras Market Regional Insights
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"Asia Pacific to Dominate the Market Owing to the Product's High Demand "
Asia Pacific is predicted to account for the majority of demand in the upcoming years because to its sizable population, emerging economies where more and more people are choosing nutrient-dense foods, and the growing awareness of foie gras' high protein content. The region's market for foie gras is growing owing to the animal feed industry and nutraceuticals.
Key Industry Players
"Market Players to Employ Tactics In Order to Amplify Market Position"
Key market players in the foie gras market share are entering into strategic partnerships and collaborations to expand their product portfolios, enhance their market presence, and cater to a broader customer base. Companies are focusing on continuous product innovation to meet evolving customer demands. Customization options, such as design, fixtures, and materials, provide a competitive advantage in the market. Market players are expanding their geographical presence through acquisitions, mergers, and establishing manufacturing facilities in new regions. This enables them to cater to the increasing demand for prefabricated bathroom pods across different markets.
List of Market Players Profiled
- Hudson Valley (U.S.)
- Comtesse Du Barry (France)
- Labeyrie-group (France)
- Jiajia (China)
- Euralis (France)
Report Coverage
This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.
| REPORT COVERAGE | DETAILS |
|---|---|
Market Size Value In |
US$ 781.83 Million in 2021 |
Market Size Value By |
US$ 1084.07 Million by 2027 |
Growth Rate |
CAGR of 5.6% from 2021 to 2027 |
Forecast Period |
2022-2027 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the global foie gras market expected to touch by 2027?
The global foie gras market is expected to reach USD 1084.07 million by the year 2027.
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What CAGR is the global foie gras market expected to exhibit by 2027?
The global foie gras market is anticipated to exhibit a CAGR of 5.6% by the year 2027.
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What are the driving factors of the foie gras market?
Rising disposable income and high animal feed consumption are the major driving factors of the foie gras market.
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Which are the key players or most dominating companies functioning in the foie gras market?
The major market players in the foie gras industry are Hudson Valley (U.S.), Comtesse Du Barry(France), Labeyrie-group (France), Jiajia (China), and Euralis (France).
