Wagyu Beef Market Size to Grow by USD 3.57 bn, Growing Inventory of Wagyu Beef in Japan to Drive Growth – Technavio – QNT Press Release


NEW YORK, Oct. 6, 2022 /PRNewswire/ — The wagyu beef market will be driven by factors such as the growing inventory of wagyu beef in Japan.In May 2020under the Beef Livestock Stabilization Program called Marukin, the Government of Japan announced that it would issue support payments to cattle producers of wagyu beef. Under this program, the government will pay the producers of wagyu cattle 90% of the difference between revenue and production costs, which is recalculated per month. Such initiatives will drive the market during the forecast period.

The wagyu beef market size is anticipated to grow by USD 3.57 billion. In addition, the growth momentum of the market will accelerate at a CAGR of 7.4% during the forecast period, according to Technavio.

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Company Profiles

Some of the companies covered in this report are Agri Beef Co., Australian Agricultural Co Ltd, Black Hawk Farms, Blackmore Wagyu, Chicago Steak Co., Dolan Foods Inc., GWB LLC, Havel Wagyu GbR, Holy Grail Steak Co., ITOHAM FOODS Inc., JAPAN PREMIUM BEEF Inc., JBS SA, K and K International Inc., Lone Mountain Wagyu LLC, Masami Foods Inc., Morgan Ranch Inc., Starzen Co. Ltd., Sugar Mountain, WAGYU MASTER Europe GmbH, and Wagyu World. The key Offerings of a few of these vendors are listed below:

  • Agri Beef Co. – The company offers wagyu beef such as Denver Steak, Bone in New York Strip, New York Strip, and Filet Mignon.
  • Australian Agricultural Co Ltd – The company offers wagyu beef under the brand Westholme.
  • Black Hawk Farms – The company offers wagyu beef such as Black Label and Reserve Label.
  • Blackmore Wagyu – The company offers wagyu beef, which is highly marbled and the muscles are finely interspersed with monounsaturated fat.
  • Chicago Steak Co. – The company offers wagyu beef such as Wagyu Kobe Steaks and Wet Aged Wagyu Ribeye.

Learn about key strategic initiatives used by vendors, along with key news and the latest developments. View our FREE PDF Sample Report Now

Competitive Analysis

The report includes competitive analysis, which is a proprietary tool that analyzes and evaluates the position of companies based on their market performance score and industry position score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are growth strategies, financial performance over the last three years, new product launches, innovation score, growth in market share, and investments.

Market Segmentation
  • By product, the market has been classified into Japanese breed, Australian breed, and others. The Japanese breed segment will be the largest contributor to market growth during the forecast period. The consumption of wagyu beef has increased owing to promotional activities by authorities in Japan. The food service industry is a key consumer of Japanese wagyu beef. Premium Japanese wagyu beef products such as Kobe beef are popular among several fine dining and Michelin Star restaurants globally.
  • By geography, the market has been classified into APAC, North America, Europethe Middle East and Africaand South America. APAC will have the largest share of the market. The region will account for 77% of the market’s growth during the forecast period. This growth is attributed to factors such as the growth of the food service sector and the high consumption of wagyu beef in countries such as Japan.

Learn about the contribution of each segment summarized in concise infographics and thorough descriptions. View a FREE PDF Sample Report

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Wagyu Beef Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 7.4%

Market growth 2022-2026

USD 3.57 billion

Market structure

Fragmented

YoY growth (%)

6.52

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