Wagyu Beef Market - The Growth of Luxury And Versatile Breed at a CAGR of 5.9% Owing to Luxury Hospitality Industry
The global Wagyu beef market was valued at USD 12,638 million in 2021. It is projected to reach USD 21,310 million by 2030, growing at a CAGR of 5.9% during the forecast period (2022–2030). Asia-Pacific accounts for the largest market share and is estimated to grow at a CAGR of 7.5% during the forecast period.
New York, United States, Aug. 25, 2022 (GLOBE NEWSWIRE) -- Wagyu beef can help reduce the risk of various chronic diseases like heart disease, diabetes, and cancer. Wagyu beef is quickly becoming popular among health-conscious consumers because it contains multiple nutrients such as *protein*, *folate*, *zinc*, and *fiber*. These nutrients, particularly fiber, help to sustain good health. The global Wagyu beef industry is rapidly expanding due to numerous advantages such as *protein-rich* and *premium red meat*, *health benefits*, and *disease control advantages*. Furthermore, the worldwide Wagyu beef industry is likely to be driven by an increasing customer population seeking healthy meat alternatives.
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*Flourishing Luxury Hospitality Industry Spurs the Global Wagyu Beef Market *
While the retail consumer sector is the mainstay of the mass meat business, Wagyu beef brands focus on and thrive on institutional consumers such as hotels, hotel chains, and high-end restaurant brands. According to our research, approximately 85 percent of Wagyu beef sales are institutional B2B customers. Many Wagyu beef companies have formed alliances with hotel groups, restaurant chains, and specialized eateries with a presence in airports, premium malls, superstores, and metropolitan areas. Wagyu beef companies are also present in retail through various B2C distribution methods. The sales approach is heavily influenced by B2B and restaurant food chains, but companies also target high-end superstores and online retail platforms.
Hotel chains, restaurants, airports, and internet retailers are the top four segments in developing and rising countries. The guests in a luxury hotel or a high-end fine dining establishment are smart and knowledgeable about the advantages of Wagyu beef over other beef categories. As a result, they are the natural market for quality Wagyu beef. The middle-class population's perception of premium Wagyu beef and its health benefits is slowly changing. People no longer regard Wagyu beef as a luxury item but as a necessity for good health. When the experience is combined with great eating, it influences consumer interest in conventional meat and beef selections.
*Increasing Adoption of E-commerce Website to Create New Opportunities for the Global Wagyu Beef Market*
Online stores are a highly successful technique for players in practically all types of markets to market and sell their items in the twenty-first century. Similarly, online sales are a popular marketing method and selling items in the global Wagyu beef business. Specific audience targeting is one of the most valuable elements of the global Wagyu beef market participants' online sales and e-commerce websites. In the global Wagyu beef business, a massive audience on one platform also drives online sales. People have begun to order Wagyu beef and other products through e-commerce and internet portals, which has increased the worldwide Wagyu beef market. E-commerce websites and businesses rapidly expand in developed, developing, and emerging markets, increasing global demand for Wagyu beef products.
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*Report Scope*
*Report Metric* *Details*
*Market Size* USD 21.31 billion by 2030
*CAGR* 5.9% (2022-2030)
*Historical Data* 2019-2020
*Base Year* 2021
*Forecast Period* 2022-2030
*Forecast Units* Value (USD Billion )
*Report Coverage* Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
*Segments Covered* Nature, Type, Distribution Channel, Region
*Geographies Covered* North America, Europe, Asia-Pacific, LAME and Rest of the World
*Key Companies Profiled/Vendors* Blackmore Wagyu, Itoham Foods Inc., Snake River Farms, Starzen Co. Ltd., DeBragga and Spitler, Sysco Corporation, Chicago Steak Company, Creek Bed Country Farmacy, LLC, Fairway Packing Company, The Butcher's Market, West Coast Prime Meat, American Grass Fed Beef, DrybagSTeak LLC
*Key Market Opportunities* Rise in the demand for premium food products
*Key Market Drivers* Increased importance for high nutritional value food
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*Regional Insights*
Asia-Pacific accounts for the largest market share and is estimated to grow at a *CAGR of 7.5%* during the forecast period. This is attributed to the fast-rising economies such as Japan, China, Singapore, and Thailand. Changing product purchasing habits in Asia-Pacific and favorable government policies are expected to boost the expansion of the Wagyu beef market. Made in China 2025, for example, is a ten-year national plan aimed at transforming China into a worldwide manufacturing force, which is predicted to promote product exports from China, ultimately increasing demand for Wagyu beef as a marketing and customer service approach. Japan and China are at the forefront of product improvements, with numerous Wagyu beef brands entering the market, bolstering the Asia-Pacific Wagyu beef industry.
North America is the second-largest region and is estimated to reach an expected value of USD 4,237 million at a *CAGR of 4.6%* by 2030. This is attributed to the increasing consumption and adoption of Wagyu beef products among upper and middle-class families in North America. Technological breakthroughs, clever marketing, and rising consumer knowledge of the benefits of eating Wagyu beef are some of the primary reasons driving the regional market. The widespread consumption of Wagyu beef in North America, particularly in the United States, contributes to the market's overall expansion. The presence of globally known Wagyu beef product manufacturers and importers in North America supports the market's growth.
Europe is one of the most appealing markets for Wagyu beef. The presence of important market participants in the region, along with strong marketing methods used by manufacturers and importers to attract customers drive the European Wagyu beef market. Rapidly changing lifestyle patterns, adopting the Western culture and eating habits, and increasing knowledge of Wagyu beef are some primary factors driving increased demand in Europe. Furthermore, the expanding competitive edge in the European market and producers controlling the competitive edge through efficient tactics are likely to cause the European Wagyu beef market even further.
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*Key Highlights*
· The global Wagyu beef market size was valued at *USD 12,638 million in 2021*. It is projected to reach USD 21,310 million by 2030, growing at a *CAGR of 5.9%* during the forecast period (2022–2030).
· *Based on type*, the global Wagyu beef market is segmented into Cows & Heifers, Steers, and Bulls. Steers account for the largest market share and are estimated to grow at a *CAGR of 6.1%* during the forecast period.
· *Based on breed type*, the global Wagyu beef market is segmented into Japanese Breed, Australian Breed, and Others. Japanese Breed accounts for the largest market share and is estimated to grow at a *CAGR of 6.1%* during the forecast period.
· *Based on distribution channels*, the global Wagyu beef market is segmented into Store-Based Retail, Hypermarkets & Supermarkets, Restaurants & Food Chain, and Online. Store-Based Retail accounts for the largest market share and is estimated to grow at a *CAGR of 6.4%* during the forecast period.
· *By region*, the global Wagyu beef market is segmented into North America, Europe, Asia-Pacific, South America, and the Middle East and Africa. Asia-Pacific holds dominion in the global market.
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*Competitive Analysis *
· Blackmore Wagyu, Itoham Foods Inc.
· Snake River Farms
· Starzen Co. Ltd.
· DeBragga and Spitler
· Sysco Corporation
· Chicago Steak Company
· Creek Bed Country Farmacy, LLC
· Fairway Packing Company
· The Butcher's Market
· West Coast Prime Meat
· American Grass Fed Beef
· DrybagSTeak, LLC
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*Global Wagyu Beef Market: Segmentation*
*By Type *
· Cows & Heifers
· Steers
· Bulls
*By Breed Type *
· Japanese Breed
· Australian Breed
· Others
*By Distribution Channel*
· Store-Based Retail
· Hypermarkets & Supermarkets
· Restaurants & Food Chain
· Online
*By Regions*
· North America
· Europe
· Asia-Pacific
· South America
· The Middle East and Africa
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*TABLE OF CONTENT*
*1 Introduction*
1.1 Market Definition
1.2 Market Scope
*2 Research Methodology*
2.1 Primary Research
2.2 Research Methodology
2.3 Assumptions & Exclusions
2.4 Secondary Data Sources
*3 Executive Summary*
*4 Market Overview*
4.1 Report Segmentation & Scope
4.2 Value Chain Analysis: *Wagyu Beef Market*
4.2.1 Vendor Matrix
4.3 Key Market Trends
4.3.1 Drivers
4.3.2 Restraints
4.3.3 Opportunities
4.4 Porter’s Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 COVID-19 Impact Analysis
4.5.1 Pre and Post COVID-19 Market Scenario Analysis
4.5.2 Market Recovery Timeline and Challenge
4.6 Environment & Regulatory Landscape
4.7 Forecast Factors & Relevance of Impact
4.8 Macro-Economic & Geopolitical Scenario
4.9 Parent Market Overview
4.10 Technology Landscape
4.11 Market Share Analysis
4.12 Potential Venture Analysis
4.13 Regional Price Trends
4.14 Raw Material Trends
4.15 Cost Structure Analysis
4.15.1 Labor Cost
4.15.2 Consumables
4.15.3 Maintenance Cost
*5 Nature Overview*
5.1 Introduction
5.1.1 Market Size & Forecast (Value & Volume)
5.2 Organic
5.2.1 Market Size & Forecast (Value & Volume)
5.3 Conventional
5.3.1 Market Size & Forecast (Value & Volume)
*6 Type Overview*
6.1 Introduction
6.1.1 Market Size & Forecast (Value & Volume)
6.2 Wagyu & Kobe
6.2.1 Market Size & Forecast (Value & Volume)
6.3 Crossbreeding
6.3.1 Market Size & Forecast (Value & Volume)
6.4 100% Fullblood Wagyu
6.4.1 Market Size & Forecast (Value & Volume)
*7 Distribution Channel Overview*
7.1 Introduction
7.1.1 Market Size & Forecast (Value & Volume)
7.2 B2B
7.2.1 Market Size & Forecast (Value & Volume)
7.3 B2C
7.3.1 Market Size & Forecast (Value & Volume)
7.3.2 Store Based Retail
7.3.2.1 Market Size & Forecast (Value & Volume)
7.3.3 Hypermarkets & Supermarkets
7.3.3.1 Market Size & Forecast (Value & Volume)
7.3.4 Restaurants
7.3.4.1 Market Size & Forecast (Value & Volume)
7.3.5 Food Chain
7.3.5.1 Market Size & Forecast (Value & Volume)
7.3.6 Others
7.3.6.1 Market Size & Forecast (Value & Volume)
7.4 Online Retail
7.4.1 Market Size & Forecast (Value & Volume)
*8 Regional Overview*
*8.1 Introduction*
8.1.1 Market Size & Forecast (Value & Volume)
*8.2 North America*
8.2.1 Economic Overview
8.2.2 Market Scenario
8.2.3 The U.S.
8.2.3.1 By Nature
8.2.3.2 By Type
8.2.3.3 By Distribution Channel
8.2.4 Canada
8.2.4.1 By Nature
8.2.4.2 By Type
8.2.4.3 By Distribution Channel
8.2.5 Mexico
8.2.5.1 By Nature
8.2.5.2 By Type
8.2.5.3 By Distribution Channel
*8.3 Central and South America and the Caribbean*
8.3.1 Economic Overview
8.3.2 Market Scenario
8.3.3 Brazil
8.3.3.1 By Nature
8.3.3.2 By Type
8.3.3.3 By Distribution Channel
8.3.4 Argentina
8.3.4.1 By Nature
8.3.4.2 By Type
8.3.4.3 By Distribution Channel
8.3.5 Colombia
8.3.5.1 By Nature
8.3.5.2 By Type
8.3.5.3 By Distribution Channel
8.3.6 The Rest of Central and South America and the Caribbean
8.3.6.1 By Nature
8.3.6.2 By Type
8.3.6.3 By Distribution Channel
*8.4 Europe*
8.4.1 Economic Overview
8.4.2 Market Scenario
8.4.3 Germany
8.4.3.1 By Nature
8.4.3.2 By Type
8.4.3.3 By Distribution Channel
8.4.4 France
8.4.4.1 By Nature
8.4.4.2 By Type
8.4.4.3 By Distribution Channel
8.4.5 The U.K.
8.4.5.1 By Nature
8.4.5.2 By Type
8.4.5.3 By Distribution Channel
8.4.6 Italy
8.4.6.1 By Nature
8.4.6.2 By Type
8.4.6.3 By Distribution Channel
8.4.7 The Rest of Europe
8.4.7.1 By Nature
8.4.7.2 By Type
8.4.7.3 By Distribution Channel
*8.5 Asia-Pacific (APAC)*
8.5.1 Economic Overview
8.5.2 Market Scenario
8.5.3 China
8.5.3.1 By Nature
8.5.3.2 By Type
8.5.3.3 By Distribution Channel
8.5.4 Japan
8.5.4.1 By Nature
8.5.4.2 By Type
8.5.4.3 By Distribution Channel
8.5.5 India
8.5.5.1 By Nature
8.5.5.2 By Type
8.5.5.3 By Distribution Channel
8.5.6 Australia
8.5.6.1 By Nature
8.5.6.2 By Type
8.5.6.3 By Distribution Channel
8.5.7 South Korea
8.5.7.1 By Nature
8.5.7.2 By Type
8.5.7.3 By Distribution Channel
8.5.8 The Rest of APAC
8.5.8.1 By Nature
8.5.8.2 By Type
8.5.8.3 By Distribution Channel
*8.6 The Middle East*
8.6.1 Economic Overview
8.6.2 Market Scenario
8.6.3 Saudi Arabia
8.6.3.1 By Nature
8.6.3.2 By Type
8.6.3.3 By Distribution Channel
8.6.4 The UAE
8.6.4.1 By Nature
8.6.4.2 By Type
8.6.4.3 By Distribution Channel
8.6.5 Qatar
8.6.5.1 By Nature
8.6.5.2 By Type
8.6.5.3 By Distribution Channel
8.6.6 Oman
8.6.6.1 By Nature
8.6.6.2 By Type
8.6.6.3 By Distribution Channel
8.6.7 Turkey
8.6.7.1 By Nature
8.6.7.2 By Type
8.6.7.3 By Distribution Channel
8.6.8 The Rest of the Middle East
8.6.8.1 By Nature
8.6.8.2 By Type
8.6.8.3 By Distribution Channel
*8.7 Africa*
8.7.1 Economic Overview
8.7.2 Market Scenario
8.7.3 Nigeria
8.7.3.1 By Nature
8.7.3.2 By Type
8.7.3.3 By Distribution Channel
8.7.4 South Africa
8.7.4.1 By Nature
8.7.4.2 By Type
8.7.4.3 By Distribution Channel
8.7.5 The Rest of Africa
8.7.5.1 By Nature
8.7.5.2 By Type
8.7.5.3 By Distribution Channel
*9 Competitive Landscape — Manufacturers & Suppliers*
*9.1 Competition Dashboard*
*9.2 Industry Structure*
*9.3 Blackmore Wagyu*
9.3.1 Business Overview
9.3.2 Financial Performance
9.3.3 Recent Developments
9.3.4 Product Portfolio
*9.4 Itoham Foods Inc.*
9.4.1 Business Overview
9.4.2 Financial Performance
9.4.3 Recent Developments
9.4.4 Product Portfolio
*9.5 Snake River Farms*
9.5.1 Business Overview
9.5.2 Financial Performance
9.5.3 Recent Developments
9.5.4 Product Portfolio
*9.6 Starzen Co. Ltd.*
9.6.1 Business Overview
9.6.2 Financial Performance
9.6.3 Recent Developments
9.6.4 Product Portfolio
*9.7 DeBragga and Spitler*
9.7.1 Business Overview
9.7.2 Financial Performance
9.7.3 Recent Developments
9.7.4 Product Portfolio
*9.8 Sysco Corporation*
9.8.1 Business Overview
9.8.2 Financial Performance
9.8.3 Recent Developments
9.8.4 Product Portfolio
*9.9 Chicago Steak Company*
9.9.1 Business Overview
9.9.2 Financial Performance
9.9.3 Recent Developments
9.9.4 Product Portfolio
*9.10 Creek Bed Country Farmacy, LLC*
9.10.1 Business Overview
9.10.2 Financial Performance
9.10.3 Recent Developments
9.10.4 Product Portfolio
*9.11 Fairway Packing Company *
9.11.1 Business Overview
9.11.2 Financial Performance
9.11.3 Recent Developments
9.11.4 Product Portfolio
*9.12 West Coast Prime Meat*
9.12.1 Business Overview
9.12.2 Financial Performance
9.12.3 Recent Developments
9.12.4 Product Portfolio
*10 Conclusion & Recommendation*
*11 Acronyms & Abbreviations*
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*Table of Content and Figure @ **https://straitsresearch.com/report/wagyu-beef-market/toc*
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*Market News*
· *In July 2022*, the finest beef cuts were shared by the Chicago Steak Company, which ideally became chefs' favorites in steakhouses across America. The company is home to the finest USDA Prime Beef, and it is well-known among Americans who take pleasure in its position as a Midwestern company specializing in hand-cut beef.
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*News Media*
*Asia-Pacific to Grab the Lion’s Share in the Wagyu Beef Market*
*Asia-Pacific Pegged to Record the Fastest Growth in the Global Dry Aging Beef Market, Led by China and India*
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*Have a Look at the Related Research Report *
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*Dry Ageing Beef Market*: Information by Nature (Organic, Conventional), Grade (Prime Beef, Wagyu Beef, Choice Beef), Distribution Channel (B2B, B2C), and Region — Forecast till 2029
*Traditional Meat and Meat Products Market*: Information by Types (Ground Beef, Steak, Ground Pork, Bacon, Ham, Brats, Chorizo, Ground Chicken, Ground Turkey, Shrimp)—Forecast Till 2026
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