Press release
Foie Gras Market to Record Sturdy Growth by 2025
Foie gras is a luxury food item prepared from the liver of duck/goose. The animals are force fed with the help of a feeding tube to fatten their liver. Ducks and goose are fed for approximately 15 days to fatten their liver and then slaughtered after approximately 100 days. Duck is more commonly used for the production of foie gras as compared to the goose. Foie gras production is based on the idea that some water birds have the ability to expand their esophagus especially their liver in preparation for migration. Ducks and goose have cropped in their alimentary canal that makes them suitable for being used in the production of foie gras.
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Foie gras market is majorly concentrated in the European region, U.S., and China. But the increasing availability of foie gras has made it a popular dish in many other parts of the world. Foie gras is a gourmet luxury dish, though the foie gras produced by duck liver is slightly cheaper than that produced by goose liver. The increasing consumption of the foie gras demonstrates the increasing attractiveness of the foie gras market over the forecast period.
Global Foie Gras: Market Segmentation
The global foie gras market is segmented on the basis of source type, preparation methods, distribution channel, and region. The foie gras market is segmented on the basis of source types such as ducks and goose. The global foie gras market is segmented on the basis of distribution channels such as supermarket and hypermarket, HoReCa (hotels/restaurants/cafes), online stores, and other retail formats. The other type of segmentation of foie gras market can be done on the basis of preparation methods such as cold preparation and hot preparation.
Global Foie Gras Market: Regional Outlook
Geographically, the global foie gras market can be divided into major regions which include North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Globally, among all regions, Europe is the dominant region in global foie gras market followed by North America and Asia Pacific. In Europe, France is the leading producer of foie gras produced from duck liver and contributes approximately three-fourth of the total foie gras produced worldwide from duck liver. On the other hand, Hungary is the largest producer of foie gras produced from goose liver and accounted for more than three fourth of the total foie gras produced worldwide from goose liver.
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Global Foie Gras Market: Growth Drivers
The global foie gras market driving factors are growing expatriate population and increasing preferences for leisure dining. Other factors that can drive the growth of the foie gras market is the disposable income. Foie gras is a luxurious food item and not everyone can afford it but increasing disposable income have led towards increasing consumer spending for the better lifestyle and luxurious food products like foie gras. Other driving factors expected to boost the foie gras market growth is the increasing number of non-vegetarian population in the Middle East, Africa, and Asian region.
Increase in the number of retail outlets, HoReCa (Hotel /Restaurant /Café) and super markets offering foie gras is also projected to increase the growth of the foie gras market. Growing expatriate population for business and job purpose have led to an introduction of foie gras products in a multi-cuisine restaurant; which is leading TOWARDS INCREASING Hence, the global foie gras market is expected to observe robust growth over the forecast period.
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Global Foie Gras Market: Key Players
Some of the key players identified across the value chain of the global foie gras market include Hudson Valley Foie Gras LLC., Comtesse Du Barry, Ducs de Gascogne, Euralis, Sanrougey, AVIS, and others. The companies are expected to expand their business by enhancing their product portfolio in global foie gras market. The companies are projected to frame certain strategies in future in order to gain the competitive advantage in global foie gras market.
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