Wagyu Beef Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Wagyu Beef Market
The wagyu beef market size was valued at USD 23.94 billion in 2023, and the market is now projected to grow from USD 25.34 billion in 2024 to USD 42.69 billion by 2032, exhibiting a CAGR of 6.74% during the forecast period of 2023-2030.
The wagyu beef market experienced an awful negative impact by the COVID-19 pandemic. Closure of shops and restaurants as well as restrictions reduced the demand, thereby leading to disruption in supply chain and liquidity issues for producers. Higher-end dining establishments, where Wagyu beef is usually the main dish, were forced to limit their gatherings and events, and this, in its turn, reduced sales even more. Furthermore, export markets received negative impact due to global economic slowdowns as well as transport obstacles.
Wagyu beef market remains a dynamic market with an impressive growth globally driven by higher consumers’ demand for high-quality meats and a growing understanding of features such as marbling, tenderness, and mouthwatering taste. Furthermore, affluent lifestyles, advanced culinary trends based on quality rather than quantity and expanding food sector contribute to the market expansion. Additionally, wagyu beef market growth is accelerated by the prevalence of the high-end dining, culinary tourism, and the perception of Wagyu as a sign of luxury.
The wagyu beef market is witnessing several notable trends, with consumers looking more and more for the exclusive marbling and taste. Consumers are now interested in higher quality products and ethical sources, which makes producers direct their efforts towards sustainable practices and temptation of the ancient varieties. Health-oriented trends continue to play a role in the market with the heavier focus on leaner cuts and grass-fed products. Strategies that are innovative such as emphasizing the unique attributes and heritage attract the educated consumers.
Comprehensive Analysis of Wagyu Beef Market
The wagyu beef industry is rising at an exponential rate due to its market segmentation. These segmentations are methodically segregated by type and by distribution channel. Based on type, market is divided into fullblood, purebred, and crossbred. Based on distribution channel, market is divided into foodservice, offline retail, and online retail.
The Asia Pacific holds leading position in wagyu beef market share by benefitting a market size of USD 11.82 billion in 2023 due to Japan's age-old culture and practice of breeding and farming Wagyu livestock. Famous for the unmatched marbling, tenderness, and rich taste, Wagyu beef is the most expensive type of meat in this region. The increasing demand for luxury meat products together with the fact that consumers have started recognizing the exclusive features that comes with Wagyu further pushes the market in this region.
The top players in the market play a crucial role in the healthcare industry assuring industrial prospectus growth and setting market standards. These players include, Imperial Wagyu Beef, LLC (U.S.), Agri Beef Co. (U.S.), Australian Agricultural Company Limited (Australia), Starzen Co., Ltd (Japan), Blackmore Wagyu (Australia), Stockyard Pty Ltd (Australia), Lone Mountain Wagyu, LLC (U.S.), Jack's Creek (Australia), Sugar Mountain (U.S.), Stanbroke (Australia), Beefcorp Australia Pty Ltd (Australia), Super Prime Beef Inc. (U.S.). These market players provide a level-playing competitive landscape.
June 2022: Matilda 159 Domain, an American restaurant, introduced a limited-edition Wagyu food item to the menu named Blackmore Wagyu tomahawk steak.
Segmentation Table
Global Wagyu Beef Market Scope
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 6.74% from 2024 to 2032
Unit Value (USD Billion)
Segmentation By Type
Fullblood
Purebred
Crossbred
By Distribution Channel
Foodservice
Online Retail
Offline Retail
By Region
North America (By Type, End-use, and Country)
- U.S. (By Type)
- Canada (By Type)
- Mexico (By Type)
Europe (By Type, End-use, and Country)
- U.K. (By Type)
- France (By Type)
- Germany (By Type)
- Italy (By Type)
- Spain (By Type)
- Rest of Europe (By Type)
Asia Pacific (By Type, End-use, and Country)
- China (By Type)
- Indonesia (By Type)
- Japan (By Type)
- Australia (By Type)
- Singapore (By Type)
- Rest of Asia Pacific (By Type)
South America (By Type, End-use, and Country)
- Brazil (By Type)
- Argentina (By Type)
- Rest of South America (By Type)
Middle East & Africa (By Type, End-use, and Country)
- South Africa (By Type)
- UAE (By Type)
Rest of the Middle East & Africa (By Type)
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- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 3.4. Market Trends
- 4. Key Insights
- 4.1. Overview on the Parent Market
- 4.2. Regulatory Analysis
- 4.3. Industry SWOT Analysis
- 4.4. Wagyu Beef Value & Supply Chain
- 4.5. E-Commerce Sales Analysis
- 4.6. Recent Industry Developments - Policies, Mergers & Acquisitions, and New Product Launches
- 4.7. Market Analysis and Insights (in Relation with COVID-19)
- 5. Global Wagyu Beef Market Analysis, Insights and Forecast, 2019-2032
- 5.1. Key Findings / Summary
- 5.2. Market Size Estimates and Forecast
- 5.2.1. By Type (Value)
- 5.2.1.1. Fullblood Wagyu
- 5.2.1.2. Crossbred Wagyu
- 5.2.1.3. Purebred Wagyu
- 5.2.2. By Distribution Channel (Value)
- 5.2.2.1. Foodservice
- 5.2.2.2. Offline Retail
- 5.2.2.3. Online Retail
- 5.2.3. By Region (Value)
- 5.2.3.1. North America
- 5.2.3.2. Europe
- 5.2.3.3. Asia Pacific
- 5.2.3.4. South America
- 5.2.3.5. Middle East & Africa
- 6. North America Hot Sauce Market Analysis, Insights and Forecast, 2019-2032
- 6.1. Key Findings / Summary
- 6.2. Market Size Estimates and Forecast
- 6.2.1. By Type (Value)
- 6.2.1.1. Fullblood Wagyu
- 6.2.1.2. Crossbred Wagyu
- 6.2.1.3. Purebred Wagyu
- 6.2.2. By Distribution Channel (Value)
- 6.2.2.1. Foodservice
- 6.2.2.2. Offline Retail
- 6.2.2.3. Online Retail
- 6.2.3. By Country (Value)
- 6.2.3.1. U.S.
- 6.2.3.1.1. By Type (Value)
- 6.2.3.1.1.1. Fullblood Wagyu
- 6.2.3.1.1.2. Crossbred Wagyu
- 6.2.3.1.1.3. Purebred Wagyu
- 6.2.3.2. Canada
- 6.2.3.2.1. By Type (Value)
- 6.2.3.2.1.1. Fullblood Wagyu
- 6.2.3.2.1.2. Crossbred Wagyu
- 6.2.3.2.1.3. Purebred Wagyu
- 6.2.3.3. Mexico
- 6.2.3.3.1. By Type (Value)
- 6.2.3.3.1.1. Fullblood Wagyu
- 6.2.3.3.1.2. Crossbred Wagyu
- 6.2.3.3.1.3. Purebred Wagyu
- 7. Europe Hot Sauce Market Analysis, Insights and Forecast, 2019-2032
- 7.1. Key Findings / Summary
- 7.2. Market Size Estimates and Forecast
- 7.2.1. By Type (Value)
- 7.2.1.1. Fullblood Wagyu
- 7.2.1.2. Crossbred Wagyu
- 7.2.1.3. Purebred Wagyu
- 7.2.2. By Distribution Channel (Value)
- 7.2.2.1. Foodservice
- 7.2.2.2. Offline Retail
- 7.2.2.3. Online Retail
- 7.2.3. By Country (Value)
- 7.2.3.1. Germany
- 7.2.3.1.1. By Type (Value)
- 7.2.3.1.1.1. Fullblood Wagyu
- 7.2.3.1.1.2. Crossbred Wagyu
- 7.2.3.1.1.3. Purebred Wagyu
- 7.2.3.2. France
- 7.2.3.2.1. By Type (Value)
- 7.2.3.2.1.1. Fullblood Wagyu
- 7.2.3.2.1.2. Crossbred Wagyu
- 7.2.3.2.1.3. Purebred Wagyu
- 7.2.3.3. Italy
- 7.2.3.3.1. By Type (Value)
- 7.2.3.3.1.1. Fullblood Wagyu
- 7.2.3.3.1.2. Crossbred Wagyu
- 7.2.3.3.1.3. Purebred Wagyu
- 7.2.3.4. Spain
- 7.2.3.4.1. By Type (Value)
- 7.2.3.4.1.1. Fullblood Wagyu
- 7.2.3.4.1.2. Crossbred Wagyu
- 7.2.3.4.1.3. Purebred Wagyu
- 7.2.3.5. The U.K.
- 7.2.3.5.1. By Type (Value)
- 7.2.3.5.1.1. Fullblood Wagyu
- 7.2.3.5.1.2. Crossbred Wagyu
- 7.2.3.5.1.3. Purebred Wagyu
- 7.2.3.6. Rest of Europe
- 7.2.4. By Type (Value)
- 7.2.4.1. Fullblood Wagyu
- 7.2.4.2. Crossbred Wagyu
- 7.2.4.3. Purebred Wagyu
- 8. Asia Pacific Hot Sauce Market Analysis, Insights and Forecast, 2019-2032
- 8.1. Key Findings / Summary
- 8.1.1. By Type (Value)
- 8.1.1.1. Fullblood Wagyu
- 8.1.1.2. Crossbred Wagyu
- 8.1.1.3. Purebred Wagyu
- 8.1.2. By Distribution Channel (Value)
- 8.1.2.1. Foodservice
- 8.1.2.2. Offline Retail
- 8.1.2.3. Online Retail
- 8.1.3. By Country (Value)
- 8.1.3.1. China
- 8.1.3.1.1. By Type (Value)
- 8.1.3.1.1.1. Fullblood Wagyu
- 8.1.3.1.1.2. Crossbred Wagyu
- 8.1.3.1.1.3. Purebred Wagyu
- 8.1.3.2. Japan
- 8.1.3.2.1. By Type (Value)
- 8.1.3.2.1.1. Fullblood Wagyu
- 8.1.3.2.1.2. Crossbred Wagyu
- 8.1.3.2.1.3. Purebred Wagyu
- 8.1.3.3. Australia
- 8.1.3.3.1. By Type (Value)
- 8.1.3.3.1.1. Fullblood Wagyu
- 8.1.3.3.1.2. Crossbred Wagyu
- 8.1.3.3.1.3. Purebred Wagyu
- 8.1.3.4. Singapore
- 8.1.3.4.1. By Type (Value)
- 8.1.3.4.1.1. Fullblood Wagyu
- 8.1.3.4.1.2. Crossbred Wagyu
- 8.1.3.4.1.3. Purebred Wagyu
- 8.1.3.5. Indonesia
- 8.1.3.5.1. By Type (Value)
- 8.1.3.5.1.1. Fullblood Wagyu
- 8.1.3.5.1.2. Crossbred Wagyu
- 8.1.3.5.1.3. Purebred Wagyu
- 8.1.3.6. Rest of APAC
- 8.1.3.6.1. By Type (Value)
- 8.1.3.6.1.1. Fullblood Wagyu
- 8.1.3.6.1.2. Crossbred Wagyu
- 8.1.3.6.1.3. Purebred Wagyu
- 9. South America Hot Sauce Market Analysis, Insights and Forecast, 2019-2032
- 9.1. Key Findings / Summary
- 9.1.1. By Type (Value)
- 9.1.1.1. Fullblood Wagyu
- 9.1.1.2. Crossbred Wagyu
- 9.1.1.3. Purebred Wagyu
- 9.1.2. By Distribution Channel (Value)
- 9.1.2.1. Foodservice
- 9.1.2.2. Offline Retail
- 9.1.2.3. Online Retail
- 9.1.3. By Country (Value)
- 9.1.3.1. Brazil
- 9.1.3.1.1. By Type (Value)
- 9.1.3.1.1.1. Fullblood Wagyu
- 9.1.3.1.1.2. Crossbred Wagyu
- 9.1.3.1.1.3. Purebred Wagyu
- 9.1.3.2. Argentina
- 9.1.3.2.1. By Type (Value)
- 9.1.3.2.1.1. Fullblood Wagyu
- 9.1.3.2.1.2. Crossbred Wagyu
- 9.1.3.2.1.3. Purebred Wagyu
- 9.1.3.3. Rest of South America
- 9.1.3.3.1. By Type (Value)
- 9.1.3.3.1.1. Fullblood Wagyu
- 9.1.3.3.1.2. Crossbred Wagyu
- 9.1.3.3.1.3. Purebred Wagyu
- 10. Middle East and Africa Hot Sauce Market Analysis, Insights and Forecast, 2019-2032
- 10.1. Key Findings / Summary
- 10.1.1. By Type (Value)
- 10.1.1.1. Fullblood Wagyu
- 10.1.1.2. Crossbred Wagyu
- 10.1.1.3. Purebred Wagyu
- 10.1.2. By Distribution Channel (Value)
- 10.1.2.1. Foodservice
- 10.1.2.2. Offline Retail
- 10.1.2.3. Online Retail
- 10.1.3. By Country (Value)
- 10.1.3.1. South Africa
- 10.1.3.1.1. By Type (Value)
- 10.1.3.1.1.1. Fullblood Wagyu
- 10.1.3.1.1.2. Crossbred Wagyu
- 10.1.3.1.1.3. Purebred Wagyu
- 10.1.3.2. UAE
- 10.1.3.2.1. By Type (Value)
- 10.1.3.2.1.1. Fullblood Wagyu
- 10.1.3.2.1.2. Crossbred Wagyu
- 10.1.3.3. Rest of ME&A
- 10.1.3.3.1. By Type (Value)
- 10.1.3.3.1.1. Fullblood Wagyu
- 10.1.3.3.1.2. Crossbred Wagyu
- 10.1.3.3.1.3. Purebred Wagyu
- 11. Competitive Matrix
- 11.1. Business Strategies Adopted by Leading Players
- 11.2. Global Hot Sauce Market Revenue Share/Ranking Analysis, By Key Manufacturer, 2023
- 12. Company Profiles
- 12.1. Imperial Wagyu
- 12.1.1. Overview
- 12.1.2. Description
- 12.1.3. Type Portfolio
- 12.1.4. Financials (Data as available in public domain and/or on paid databases)
- 12.1.5. Recent Developments
- 12.2. Super Prime Beef Inc.
- 12.2.1. Overview
- 12.2.2. Description
- 12.2.3. Type Portfolio
- 12.2.4. Financials (Data as available in public domain and/or on paid databases)
- 12.2.5. Recent Developments
- 12.3. Blackmore Wagyu
- 12.3.1. Overview
- 12.3.2. Description
- 12.3.3. Type Portfolio
- 12.3.4. Financials (Data as available in public domain and/or on paid databases)
- 12.3.5. Recent Developments
- 12.4. Agri Beef Co.
- 12.4.1. Overview
- 12.4.2. Description
- 12.4.3. Type Portfolio
- 12.4.4. Financials (Data as available in public domain and/or on paid databases)
- 12.4.5. Recent Developments
- 12.5. Australian Agricultural Company Limited
- 12.5.1. Overview
- 12.5.2. Description
- 12.5.3. Type Portfolio
- 12.5.4. Financials (Data as available in public domain and/or on paid databases)
- 12.5.5. Recent Developments
- 12.6. Starzen Co., Ltd
- 12.6.1. Overview
- 12.6.2. Description
- 12.6.3. Type Portfolio
- 12.6.4. Financials (Data as available in public domain and/or on paid databases)
- 12.6.5. Recent Developments
- 12.7. Stockyard Pty Ltd.
- 12.7.1. Overview
- 12.7.2. Description
- 12.7.3. Type Portfolio
- 12.7.4. Financials (Data as available in public domain and/or on paid databases)
- 12.7.5. Recent Developments
- 12.8. Lone Mountain Wagyu, LLC
- 12.8.1. Overview
- 12.8.2. Description
- 12.8.3. Type Portfolio
- 12.8.4. Financials (Data as available in public domain and/or on paid databases)
- 12.8.5. Recent Developments
- 12.9. Jack's Creek
- 12.9.1. Overview
- 12.9.2. Description
- 12.9.3. Type Portfolio
- 12.9.4. Financials (Data as available in public domain and/or on paid databases)
- 12.9.5. Recent Developments
- 12.10. Sugar Mountain
- 12.10.1. Overview
- 12.10.2. Description
- 12.10.3. Type Portfolio
- 12.10.4. Financials (Data as available in public domain and/or on paid databases)
- 12.10.5. Recent Developments
- 12.11. Stanbroke
- 12.11.1. Overview
- 12.11.2. Description
- 12.11.3. Type Portfolio
- 12.11.4. Financials (Data as available in public domain and/or on paid databases)
- 12.11.5. Recent Developments
- 12.12. Beefcorp Australia Pty Ltd
- 12.12.1. Overview
- 12.12.2. Description
- 12.12.3. Type Portfolio
- 12.12.4. Financials (Data as available in public domain and/or on paid databases)
- 12.12.5. Recent Developments
- 13. Strategic Recommendations
- 14. Appendix
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