Eating caviar is the latest status symbol for millennials and Gen Z.
Caviar has become more affordable and accessible in recent years, with a small serving costing $20 at some New York City bars, reported The New York Times (June 7).
Caviar “bumps” – in which a dollop of the fish roe is eaten off the back of one’s hand – have become popular at restaurants and bars across Manhattan, such as Temple Bar, a retro lounge in NoHo.
“It’s decadence on decadence but not unapproachable,” Sam Ross, a bartender and bar owner, who is one of Temple’s partners, told The New York Times. “It’s the high-low thing you see at restaurants right now.”
Meanwhile, over in Greenwich Village, Tokyo Record Bar offers an off-the-menu caviar bump and sake combo deal for $20. A new caviar bar even opened in Charleston, South Carolina, dedicated to all things fish roe, and quickly became one of the most coveted reservations in town, reported Forbes (June 9).
INDUSTRY REACTION
The demand for caviar has been a welcome surprise to those in the industry.
“We have regulars coming in once a week now which is great, but also a very pleasant surprise,” Zero George General Manager Simon Stilwell told Forbes. “Another surprise has been the high demand.”
The Food Institute spoke to Myra Tallerico and Jeff Sedacca from Sterling Caviar at Specialty Food Association’s Summer Fancy Food Show and got a chance to ask them about the trend and what they thought of it.
“It’s a very luxe thing,” said Sedacca. “It seems to be something that just started happening…it’s become a big bar thing.” He noted that the company is expecting to see their sales go up as the trend continues.
MARKET OUTLOOK
Ariel Arce, who also sells a brand of caviar called CaviAIR, told The New York Times that the growing popularity of caviar in general is the result of improved farming techniques, which have made the product more affordable.
“Wild caviar is completely unaffordable, but now China, Netherlands, France, Uruguay and the United States have nailed the farming practices,” Arce said. “Caviar now can be approachable and affordable.”
Because of the affordability, among other factors, the caviar market is estimated to reach over $512.3 million by the end of 2030, growing at a CAGR of over 5.98%, according to Market Research Future.
