Global Wagyu Beef Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Wagyu Beef Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Market Overview:

The latest research study on the global Wagyu Beef market finds that the global Wagyu Beef market reached a value of USD 4709.88 million in 2022. It’s expected that the market will achieve USD 6973.67 million by 2028, exhibiting a CAGR of 6.76% during the forecast period.

The epidemic has dealt a heavy blow to the global wagyu industry.

The COVID-19 epidemic has dealt a heavy blow to the Wagyu industry. Workers' cluster infections continue to expand, and meat processing plants have been closed one after another. In addition, farmers' cattle cannot be sold, and their business conditions are rapidly deteriorating. According to statistics from the Centers for Disease Control and Prevention (CDC) in the United States, 115 factories in 19 states in the United States had outbreaks, with about 5,000 infections and 20 deaths. Because the operating distance of the meat processing plant is very close, the risk of infection is high.

This crisis is not limited to livestock farmers. With the closure of global restaurants and the continuous expansion of logistics chaos, the demand for Wagyu beef has fallen sharply. Many countries have begun to explore restarting economic activities, but whether demand and logistics can return to previous levels will depend on the development of the epidemic and the development of vaccines. However, as far as the current situation is concerned, COVID-19 has indeed brought a greater restriction to the overall development of Wagyu in the industry.

Healthy benefits of Wagyu Beef.

Wagyu is rich in fatty acids such as conjugated linoleic acid (CLA), which makes it tenderer and more flavorful than other types of beef. Secondly, beef fat has better flavor and lower melting point than ordinary beef fat. In addition, it also contains oleic acid, which is considered to be good for the heart, and has the lowest cholesterol level compared to other red meat, fish and chicken. Therefore, for those who want to work out and change their lifestyle, Wagyu is a better beef choice. As a result, awareness of the various health benefits of Wagyu beef will drive demand growth over the forecast period.

Wagyu breeding costs are high.

Raising wagyu cattle is very strict with feed and quality control, and each wagyu has a birth certificate to prove its pedigree. From birth, wagyu cattle are raised on milk, grass and protein-containing feed. Some ranches will also hire someone to massage and drink beer for the cattle to make the meat more tender. Even on Australian farms, it is being raised with high quality red wine. In this respect, the consumption of breeding cost increases the cost of the whole wagyu cattle by a large margin, which is not so friendly to big consumers and is not conducive to the development of the broad consumer market. At the same time, high breeding costs will put pressure on producers.

Region Overview:

In 2021, the share of the Wagyu Beef market in Asia Pacific stood at 65.44%.

Company Overview:

Australian Agricultural Company (AACo) is one of the major players operating in the Wagyu Beef market, holding a share of 4.89% in 2022.

Australian Agricultural Company (AACo)

Australian Agricultural Company Ltd. breeds, fattens and sells commercial beef cattle. The Company also breeds stud cattle, grows sheep and wool and produces grain crops. All operations are located in the Northern Territory, Queensland and New South Wales, Australia.

Blackmore Wagyu Wagyu Beef

Blackmore Wagyu is an award winning and internationally recognised producer of 100% Fullblood Wagyu beef, cattle that are not diluted with any other breed.

Founder, David Blackmore pioneered the production of 100% Fullblood Wagyu beef in Australia, having imported more than 80% of the Wagyu genetics into Australia between 1992 and 2004. Blackmore Wagyu is a family owned and run business having been in operation for over 30 years. Their premium Wagyu product is marketed to gourmet butchers and high end restaurants domestically and exported to 14 countries.

Segmentation Overview:

By type, Japanese breed segment accounted for the largest share of market in 2021.

Application Overview:

The market's largest segment by application is the segment Retail, with a market share of 62.87% in 2021.

Key Companies in the global Wagyu Beef market covered in Chapter 3:

Blackmore Wagyu
ITOHAM FOODS Inc.
Snake River Farms
Australian Agricultural Company (AACo)
Starzen Co., Ltd.

In Chapter 4 and Chapter 14.2, on the basis of types, the Wagyu Beef market from 2018 to 2029 is primarily split into:

Japanese Breed
Australian Breed

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Wagyu Beef market from 2018 to 2029 covers:

Retail
Foodservice

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)