Wagyu Beef Market to grow by USD 3.59 billion from 2022 to 2027, Increasing production and trade of wagyu beef to drive market growth - Technavio

NEW YORK, Jan. 5, 2024 /PRNewswire/ -- The wagyu beef market is expected to grow by USD 3.59 billion from 2022 to 2027, according to Technavio. In addition, the growth momentum of the market will progress at a CAGR of 7.04% during the forecast period. Increasing production and trade of wagyu beef is notably driving the wagyu beef market. However, factors such as the premium price of wagyu beef may impede market growth. The market is segmented by distribution channel (offline and online), product (Japanese breed, Australian breed, and others), and geography (APAC, North America, Europe, Middle East and Africa, and South America). 

Technavio provides a comprehensive report summary describing the market size and forecast along with research methodology. The Free sample report is available in PDF format 

Key Segment Analysis

• The market share growth by the offline segment will be significant during the forecast period. Hypermarkets, supermarkets, specialty shops, large discounters, and convenience stores are typical of offline distribution. Retailers have adopted promotional and marketing strategies, including branding with signs or discounts, on the packages of products in their stores. The popularity of retail outlets may be a contributing factor to growth in the world consumer goods sector. The large discounts offered by hypermarkets and supermarkets, combined with their use of attractive storage units to display different kinds of meat, are attracting consumers. Moreover, as a result of an increasing level of vaccination throughout the world, social distancing restrictions have been lifted thereby restoring supply chains to wagyu beef via offline channels.

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Geographical Market Analysis 

• APAC is estimated to contribute 74% to the growth of the global market during the forecast period. The increased consumption of wagyu beef in countries such as Japan has primarily contributed to the APAC regional market. The main driver for the regional market is also a large volume of wagyu beef trade. The main producers and exporters of wagyu beef are Japan and Australia within the APAC region. Hong Kong, Taiwan, and Singapore are the major importers. The growing food service industry is an important driver of growth in the APAC Wagyu beef market.  

Company Insights 

The wagyu beef market is fragmented, and the companies are deploying organic and inorganic growth strategies to compete in the market. The report analyzes the market's competitive landscape and offers information on several market companies, including Agri Beef Co., Australian Agricultural Co Ltd, Black Hawk Farms, Blackmore Wagyu, Chicago Steak Co., DEBRAGGA Inc., Dolan Foods Inc., GRAND WESTERN, Havel Wagyu GbR, Holy Grail Steak Co., Japan PREMIUM BEEF Inc., JBS SA, Lone Mountain Wagyu LLC, Masami Cattle Ranch Inc., Morgan Ranch Inc., Starzen Co. Ltd., Stockyard Pty Ltd, Sugar Mountain, WAGYU MASTER Europe GmbH, and Wagyu World

View the Free PDF Sample Report to find additional highlights on the growth strategies adopted by companies and their product offerings.

Related Reports:

The fresh meat packaging market size is estimated to grow at a CAGR of 3.19% between 2023 and 2028. The market size is forecast to increase by USD 473.65 million. 

The US - beef market size is estimated to grow at a CAGR of 3.12% between 2022 and 2027. The market size is forecast to increase by USD 7.69 billion. 

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Distribution Channel

Market Segmentation by Product

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio