Pune, India, November 20, 2023 (GLOBE NEWSWIRE) – The World Wagyu beef market size He was 21.42 billion US dollars In 2021 it is expected to grow from 22.64 billion US dollars In 2022 to 34.87 billion US dollars By 2029, it will show a CAGR of 6.37% During the expected period 2022-2029.
The Wagyu beef market has witnessed significant growth and global recognition in recent years, driven by growing demand for premium, high-quality meat products. Wagyu beef, a premium beef available on the market, is derived exclusively from breeds of cattle indigenous to Japan, including Japanese Black, Japanese Brown, Japanese Flank, and Japanese Shorthorn. Japan’s geographical isolation and distinct regional climatic conditions have played a pivotal role in shaping these exceptional breeds of cattle. As a result, its genetic makeup has allowed it to develop high levels of fat within the muscle, resulting in a unique flavor that sets Wagyu beef apart from other breeds of cattle.
Fortune Business Insights™ This information is presented in a report entitled “Wagyu Beef Market, 2022-2029.
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The most prominent players in Wagyu meat market Research report:
- Blackmore Wagyu (Australia)
- Agri Beef Company (USA)
- Australian Agricultural Company Limited (Australia)
- Starzen Co., Ltd. (Japan)
- Stockyard Pty Ltd (Australia)
- Lone Mountain Wagyu, LLC (USA)
- Jack Crick (Australia)
- Sugar Mountain (United States)
- Stanbrook (Australia)
- Beefcorp Australia Pty Ltd (Australia)
Scope and breakdown of the report:
| Report attribute | details |
| Forecast period | 2022-2029 |
| Compound annual growth rate forecast | 6.37% |
| Value forecast 2029 | 34.87 billion US dollars |
| Wagyu Beef Market Size in 2022 | 22.64 billion US dollars |
| Historical data | 2018-2020 |
| number of pages | 207 |
| Report coverage | Revenue forecasts, company profiles, competitive landscape, growth factors and latest trends |
| Covered sectors | |
| Covered areas |
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| Wagyu Beef Market Drivers | Rising demand for animal protein among health-conscious consumers to drive market growth |
| Increased trade activities between countries are boosting Wagyu beef sales globally |
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Slices
Fullblood to dominate the market due to its rich flavor and distinct marble appearance
There are three types of Wagyu cow breeds available on the market: full-blooded, purebred, and cross-bred. The term full-blooded wagyu refers to cattle that are 100% bred with wagyu cattle and have not been crossbred with any other cattle breed.
The food service channel segment will remain dominant due to the high volume of product sales through this segment
By end use, the market is segmented into food service channels and retail channels. A large proportion of this beef is sold through food service channels such as restaurants, steakhouses and hotels.
Geographically, the market is segmented into North America, Europe, Asia Pacific, South America, and the Middle East and Africa.
Report coverage
The report provides a comprehensive study of the global market along with current trends and future forecasts for approximate investment gains. An in-depth analysis of any upcoming opportunities, threats, competitions or drivers is also included in the report. Step by step, a comprehensive regional analysis is presented. The impacts of Coronavirus (COVID-19) have been added to the report to help investors and business owners better understand the threats. The top market players are identified and their strategies to enhance the market growth are shared in the report.
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Driving factors
Increased international trade activities boost Wagyu beef sales globally
In order to trade beef, major producing countries have signed trade agreements with major consuming countries. Such trade agreements help developing countries expand their market presence and reach new markets. For example, Japan and the United States entered into a trade deal that included a lower tariff quota on imports of Japanese wagyu meat. These tariff quotas support increased Japanese beef exports to the United States
Regional insights
Asia Pacific dominates with the help of presence of major players
The Asia Pacific region accounted for the largest share of the Wagyu beef market. Japan and Australia are the leading producers of this beef in the region. There are other beef consuming countries in the region in addition to the producer market.
Increasing customer knowledge of the product and expanding consumer willingness to pay a premium for high quality, marbling meat are the key factors driving the North American market.
The industry’s impacts on the environment, economy and society have an impact on overall beef consumption in Europe. These variables are interconnected and have a significant impact on how European customers choose to purchase beef.
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Impact of COVID-19
Supply chain delays during the pandemic significantly impacted sales and production, limiting market growth
The pandemic has had a major impact on Japan, one of the largest producers of wagyu steak. Especially for expected tourists during the Summer Olympics, manufacturers produced large numbers of goods. Producers kept huge amounts of this meat in their storage facilities as the Olympics were postponed throughout the pandemic. The global supply chain has been damaged by its inability to export its goods to other countries.
Competitive scene
Announcing the launch of an innovative product by key players to boost the growth of the Wagyu beef market
Leading players are adopting several strategies to strengthen their market position as leading companies. One of these key strategies is to acquire companies to enhance brand value among users. Another essential strategy is to periodically launch innovative products with a detailed study of the market and target audience.
Detailed table of contents:
- introduction
- Search scope
- Market segmentation
- Research Methodology
- Definitions and assumptions
- Executive summary
- Market dynamics
- Market driving factors
- Market restrictions
- Market opportunities
- Market trends
- the main ideas
- Overview of parent/related markets
- Organizational analysis
- SWOT analysis of the industry
- Recent industry developments – policies, partnerships, new product launches, mergers and acquisitions
- Impact of Coronavirus on the Wagyu Beef Market Supply Chain
- Impact of COVID-19
- Supply chain challenges
- Potential opportunities due to Covid-19
- Global Wagyu Beef Market Analysis, Insights and Forecast, 2018-2029
- Main findings/summary
- Market size estimates and forecasts
- By type (value)
- Full blood wagyu
- Authentic Wagyu
- Wagyu hybrid
- By end use (value)
- Food service channels
- Retail channels
- By region (value)
- north america
- Europe
- Asia Pacific
- south america
- Middle East and Africa
- By type (value)
- North America Wagyu Beef Market Analysis, Insights and Forecast, 2018-2029
- Main findings/summary
- Market size estimates and forecasts
- By type (value)
- Full blood wagyu
- Authentic Wagyu
- Wagyu hybrid
- By end use (value)
- Food service channels
- Retail channels
- By country (value)
- we
- By type (value)
- Full blood wagyu
- Authentic Wagyu
- Wagyu hybrid
- By type (value)
- Canada
- By type (value)
- Full blood wagyu
- Authentic Wagyu
- Wagyu hybrid
- By type (value)
- Mexico
- By type (value)
- Full blood wagyu
- Authentic Wagyu
- Wagyu hybrid
- By type (value)
- we
- By type (value)
Follow the table of contents…!
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Main industry development
September 2021: Blackmore Wagyu, a well-known supplier of Australian Wagyu beef, has expanded its selection of this product to include a new grass-fed breed. Given the high demand for grass-fed beef from fine dining establishments in Australia, Blackmore will benefit from this introduction by seeing an increase in sales and revenue.
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