Wasabi Market size to increase by USD 466.1 million between 2023 to 2028; The growth of the Sauce Type segment will be significant during the forecast period - Technavio

NEW YORK, Dec. 12, 2023 /PRNewswire/ -- The wasabi market size is expected to grow by USD 466.1 million from 2023 to 2028, according to Technavio. In addition, the growth momentum of the market will progress at a CAGR of 10.68% during the forecast period. Rising awareness about the health benefits of wasabi is notably driving the wasabi market. However, factors such as Side effects of overuse of wasabi may impede the market growth. The market is segmented by Type (Sauce and Powder), Application (Food and beverages and Medical and nutraceuticals), and Geography (APAC, North America, Europe, South America, and Middle East and Africa).

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

Key Segment Analysis

The sauce segment will be significant during the forecast period. Mountain View Wasabi., MUSO Co., Ltd. and Oregon Coast Wasabi are some of the major players in the market for conventional wasabi sauces. Consumers are showing interest in different cuisines from various cultures across the globe and thus are including wasabi in their cuisines, which can boost the growth of the global wasabi market. Raw fish dishes, such as sushi and sashimi are the most popular dishes to eat with wasabi. Zaru soba (cold buckwheat noodles), yakiniku, and yakitori are also good to be paired with wasabi. To know additional highlights and key points on various market segments and their impact in coming years, View a PDF Sample Report.

Geographical Market Analysis 

APAC will contribute 47% to the growth of the global market during the forecast period. Japan, followed by China is the leading country in terms of consumption of wasabi in the region. The region has high growth potential due to the presence of several untapped markets. The rising disposable income of consumers and the strong economic growth of countries such as India and China will factor in driving the regional market growth for wasabi in APAC during the forecast period.

Company Insights 

The wasabi 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:
Beaverton Foods Inc., Clearspring Ltd., Connors Greens LLC, Eden Foods Inc., Half Moon Bay Wasabi Co., J.R. Kelly Co., Kelchner Food Products, Kikkoman Sales USA Inc., KINJIRUSHI Co. Ltd., McCormick and Co. Inc., Mountain View Wasabi, MUSO Co., Ltd., Oregon Coast Wasabi, Pacific Coast Wasabi Ltd., Real Wasabi LLC, S and B Foods Inc., Shima Wasabi, Tamaruya Honten Co. Ltd., TasFoods Ltd., The Good Bean Inc., The Wasabi Co., ZHUHAI KINGZEST FOOD CO. LTD.

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

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Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Type

Market Segmentation by Application

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 focuses on emerging market trends and provides 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