Covina, April 06, 2023 (GLOBE NEWSWIRE) -- “According to the latest research study, the demand of Foie Gras Market accounted for US$ 1.3 billion in 2020 and is estimated to be US$ 1.5 billion by 2030 and is anticipated to register a CAGR of 2.0%.
Foie gras is a luxury food product that is made from the liver of a duck or goose that has been specially fattened. The process of producing foie gras involves force-feeding the birds to encourage the rapid growth of their livers, resulting in a rich and buttery flavor that is highly prized by chefs and food connoisseurs around the world.
Foie gras has a long history, with evidence of its consumption dating back to ancient Egypt and Rome. Today, the largest producers of foie gras are France, Hungary, and Spain, with smaller production centers in other countries including the United States and Canada. Despite its popularity among food enthusiasts, the production of foie gras has been subject to controversy and criticism, with animal rights activists arguing that the force-feeding process is inhumane and cruel. As a result, the production and sale of foie gras have been banned in several countries, including the United Kingdom, Germany, and several states in the United States.
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| Attribute | Details |
| Base year for estimation | 2020 |
| Forecast period | 2020 – 2030 |
| Market representation | Revenue in USD Million & CAGR from 2020 – 2030 |
| Report coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
Region Analysis:
In 2020, the European area led the global market, and this trend is projected to continue in the forecast future. It is followed by North America and the Asia Pacific region, which are predicted to grow rapidly throughout the forecast period due to growing urbanisation and industrialisation, as well as rising consumption and per capita income.
Key Highlights:
- In 2022, Controversial A Paris-based business has secured $10 million to produce a cruelty-free and lab-grown alternative to the French delicacy foie gras.
- In 2022, IntegriCulture, a Japanese startup, has acquired $7 million in funding to further develop its cell-growing platform and commercialize lab-grown foie gras. A cellular meat company would be a logical fit for foie gras. It is typically manufactured from the livers of force-fed ducks or geese, which raises concerns about animal cruelty. It's also frequently served as a pâté, which means it has a basic structure. Gourmey, a French start-up, raised $10 million last year to expand manufacturing of its own lab-grown foie gras.
Key Market Insights from the report:
Foie Gras Market accounted for US$ 1.3 billion in 2020 and is estimated to be US$ 1.5 billion by 2030 and is anticipated to register a CAGR of 2.0%. The global foie gras market report segments the market on the basis of type, application, and region.
- Based on Type, Global Foie Gras Market is segmented into Goose liver, and Duck liver.
- Based on Application, Global Foie Gras Market is segmented into Direct consumption, and Food processing industry (FPI).
- By Region, the Global Foie Gras Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Scope of the Report:
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restrains
- Market Opportunities
- Market Trends
- DR Impact Analysis
- PEST Analysis
- Porter’s Five Forces Analysis
- Opportunity Orbit
- Market Investment Feasibility Index
- Macroeconomic Factor Analysis
- Market Dynamics
- Foie Gras Market, By Type
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022 – 2032
- Y-o-Y Growth Analysis (%), 2022 – 2032
- Segment Trends
- Goose liver
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Duck liver
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Overview
- Foie Gras Market, By Application, 2022 – 2032, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022 – 2032
- Y-o-Y Growth Analysis (%), 2022 – 2032
- Segment Trends
- Direct consumption
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Food processing industry (FPI)
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Overview
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Competitive Landscape:
- 0x Genomics
- Agilent Technologies
- bioMerieux SA
- Bio-Rad Laboratories, Inc.
- F. Hoffmann-La Roche AG
- GenapSys, Inc.
- Illumina, Inc.
- New England Biolabs, Inc.
- NuGEN Technologies Inc.
- Oxford Nanopore Technologies Limited
Market Dynamics:
The foie gras market is influenced by a variety of factors, including supply and demand dynamics, changing consumer preferences, and regulatory developments. Here are some of the key market dynamics at play:
- Supply and demand: Foie gras production is constrained by the scarcity of appropriate ducks and the high expense of the labour-intensive procedure of force-feeding. As a result, when demand is strong, there may not be enough supply to meet the need.
- Consumer preferences: Foie gras has seen varying levels of popularity over time as a result of shifting consumer trends and tastes. Some customers are lured to the product's elegance and exclusivity, while others are turned off by the contentious manufacturing processes.
- Health concerns: Since foie gras is heavy in fat and calories, it may not be suitable for people who are concerned about their health. Additionally, the habit of force-feeding has sparked concerns about animal welfare, which may put off some customers.
- Regulatory developments: Around the world, there are many different legislative systems governing the production and sale of foie gras, with some nations outright prohibiting the practise. Regulation changes may affect the supply and price of foie gras in some markets.
- Competition from alternative products: Customers are turning more and more to plant-based and alternative protein products as worries about animal cruelty and environmental sustainability continue to increase. Future foie gras demand may be impacted by this tendency.
Overall, there are several variables that affect and complicate the foie gras market. Although there is still a sizable demand for the product among some customer groups, shifting perspectives on animal welfare and health issues may have an influence on the market's long-term survival.
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