Wagyu Beef Market Size, Share, Outlook

The global Wagyu Beef Market Size stood at $10.3 billion in 2022 and is poised to register 6.39% growth over the forecast period from 2023 to 2030.

Key market driving forces including increasing investments in marketing and promotion activities, continuous new product launches, robust demand from the foodservice industry, and promotion through online sales channels are identified among the main market dynamics

 

Wagyu Beef Market Analysis

Wagyu beef is considered among the best grades of beef worldwide. Accordingly, food service industries are increasingly offering dishes made from wagyu beef. The potential health benefits, superior taste, and flavor profile of Wagyu beef compared to other beef products are presenting robust export opportunities for producers. In addition, Japanese and Australian traders are investing significantly in marketing and promotion activities. Further, government incentives to promote the consumption of Wagyu beef support the long-term market outlook.

A strong adoption of the Wagyu breed by producers worldwide is observed, owing to the steady growth in Wagyu beef. Four grades of Wagyu beef, based on the breed are marketed from Japan- Black, Brown, Shorthorn, and Polled breeds.

The high profitability of Wagyu beef production is encouraging small and medium-scale companies to foray into the industry. In addition to Japan, several companies are producing Wagyu beef in Australia and the US, owing to robust demand growth from households and restaurants.

 

Market Dynamics

Market Driver- Investment in Marketing and Promotion Activities

The superior eating qualities unique to the Wagyu breed are encouraging its adoption across consumer segments. Several Japanese and Australian companies are focusing on marketing the products to markets across the world. However, the need for aggressive marketing activities is widely observed. Despite the highly nutritious and healthy profile of Wagyu beef, promotion activities play a major role in widening exports.

Accordingly, companies are opting for story-based marketing, obtaining halal certifications for their slaughterhouses to export to Muslim countries, concluding agreements with several governments, and other initiatives.

Currently, Japan and Australia are the leading exporters of Wagyu beef while the imports are predominantly destined for Hong Kong, Cambodia, Singapore, the US, and Taiwan.

 

Market Restraint- Growing popularity of Vegan diet

The proportion of young people not eating or limiting their meat intake acts as a deterrent for Wagyu beef sales. Social media promotion, Netflix, and other OTT platforms signing petitions, creating educational resources, and event organizations are among the main initiatives to support vegan businesses.

Countries across the globe are witnessing compassion towards animals and the environment, and concerns regarding personal health and overall well-being. Animal activists, celebrities, and governments are supporting actions against animal cruelty. In addition to significant health benefits gained by avoiding animal meat, vegan food takers support the fight against animal cruelty in the meat, dairy, and poultry industries.

Worldwide animal welfare organizations such as CAFT, Animal Aid, Hunt Saboteurs Association, PETA, Uncaged Campaigns, Vegetarian Society, Vegan Society, World Society for Protection of Animals, and other organizations continue to launch promotional activities supporting vegan foods.

 

Market Segmentation

The global Wagyu Beef Market is segmented into Types, Applications, and Countries.

Australian Wagyu Beef market is growing at the highest CAGR during the forecast period

Australian wagyu beef is from cattle bred, fed, grown, and processed in Australia. Over 95% of Australian Wagyu cattle are crossbred with other breeds. The Australian Wagyu bloodlines come from the Japanese provinces of Tajima, Tottori, Shimane, and Okayama.

Manufacturers offer products in three forms: F1 (cross-bred 50/50, similar to American Wagyu), purebred (93.75% Wagyu genetics or higher), and full blood (100% traceable Wagyu genetics). Strong government support for boosting exports presents robust demand for Australian Wagyu beef. The product type is likely to witness the fastest growth rate over the forecast period.

The majority of Wagyu production is exported to global markets, in particular, to China, the US, and other major consuming markets. Restrictions on the import of Japanese beef products offer significant potential for Australian companies.

 

Food Service Channels account for the highest market size for the period 2023 to 2030

The rapid growth in the food service industry is driving the market for Wagyu beef. In particular, the fine dining segment is the key driver of Wagyu beef sales. Hospitality and food service industries across regions are introducing Wagyu beef-based dishes. Restaurants, steakhouses, and hotels remain the key buyers of Wagyu beef. Further, Quick service restaurants are also gaining robust demand, which supports the overall market outlook.

Key brands such as Matsusaka Ushi, Kobe Beef, and Ohmi Beef are widely used in dishes marketed in food service channels. Imports are an important source of meat for restaurant and food service sectors, and accordingly are subject to price fluctuations.

With recovering market conditions in the food service channels, the demand for wagyu beef in the forecast period remains robust.

 

By Region, the Asia Pacific market contributed 73.4% to the global markets in 2022

Asia Pacific is the largest market for Wagyu Beef, predominantly driven by adoption among the domestic Japanese consumers. Growing consumer interest in health, variety, and enjoyment of food, coupled with a strong demand for high-quality red meat creates opportunities for the growth of Wagyu meat in the country.

In traditional Japanese cooking, highly marbled beef is highly preferred, supporting wagyu beef sales from households and food service channels. In Japanese cuisine, tender and tasty beef with much intramuscular fat and bright red color is widely preferred.  Dishes such as Shabu-shabu, Sukiyaki, Nikujaga, and others use Wagyu beef to support the domestic market demand from households.

The government exercises stringent control over the grading of wagyu beef for sale in domestic and export markets. In Japan, Wagyu cattle include four Japanese breeds: Black, Brown, Shorthorn, and Polled. Only A3 to A5 Wagyu is certified for sale in Japan. In addition, the government is offering financial incentives to introduce breeding cows.

Around 2.4 million cattle are raised for beef production in Japan. Challenges related to the high costs of imported feed push the prices upwards. Japanese beef production stood at around 330,000 tonnes (boneless cut equivalent) per year, with half of the production being Wagyu. The country exports a very small quantity of premium beef of around 6 tonnes swt, most of which is Wagyu.

 

Segmentation

By Type

• Japanese Breed
• Australian Breed
• Others

 

By Sales Channel

• Food Service Channels
• Offline Retail
• Online Retail

 

By Region

• North America (United States, Canada, Mexico)
• Europe (Germany, France, United Kingdom, Spain, Italy, Others)
• Asia Pacific (China, India, Japan, South Korea, Australia, Others)
• Latin America (Brazil, Argentina, Others)
• Middle East and Africa (Saudi Arabia, UAE, Kuwait, Other Middle East, South Africa, Nigeria, Other Africa)

 

Key Players

• Starzen Co., Ltd.
• Australian Agricultural Company Limited
• Agri Beef Co.
• Blackmore Wagyu
• Stanbroke
• Beefcorp Australia Pty Ltd.
• Lone Mountain Wagyu LLC.
• Stockyard Pvt Ltd.
• Jack’s Creek
• Sugar Mountain

 

Wagyu Beef Market Outlook 2023

1 Market Overview

1.1 Introduction to Wagyu Beef Market

1.2 Scope of the Study

1.3 Research Objective

1.3.1 Key Market Scope and Segments

1.3.2 Players Covered

1.3.3 Years Considered

 

2 Executive Summary

2.1 2023 Wagyu Beef Industry- Market Statistics

3 Market Dynamics

3.1 Market Drivers

3.2 Market Challenges

3.3 Market Opportunities

3.4 Market Trends

 

4 Market Factor Analysis

4.1 Porter’s Five Forces

4.2 Market Entropy

4.2.1 Global Wagyu Beef Market Companies with Area Served

4.2.2 Products Offerings Global Wagyu Beef Market

5 COVID-19 Impact Analysis and Outlook Scenarios

5.1.1 Covid-19 Impact Analysis

5.1.2 Post-COVID-19 Scenario- Low Growth Case

5.1.3 Post-COVID-19 Scenario- Reference Growth Case

5.1.4 Post-COVID-19 Scenario- Low Growth Case

 

6 Global Wagyu Beef Market Trends

6.1 Global Wagyu Beef Revenue (USD Million) and CAGR (%) by Type (2018-2028)

6.2 Global Wagyu Beef Revenue (USD Million) and CAGR (%) by Applications (2018-2028)

6.3 Global Wagyu Beef Revenue (USD Million) and CAGR (%) by Regions (2018-2028)

 

7 Global Wagyu Beef Market Revenue (USD Million) by Type, and Applications (2018-2022)

7.1 Global Wagyu Beef Revenue (USD Million) by Type (2018-2022)

7.1.1 Global Wagyu Beef Revenue (USD Million), Market Share (%) by Type (2018-2022)

7.2 Global Wagyu Beef Revenue (USD Million) by Applications (2018-2022)

7.2.1 Global Wagyu Beef Revenue (USD Million), Market Share (%) by Applications (2018-2022)

 

8 Global Wagyu Beef Development Regional Status and Outlook

8.1 Global Wagyu Beef Revenue (USD Million) By Regions (2018-2022)

8.2 North America Wagyu Beef Revenue (USD Million) by Type, and Application (2018-2022)

8.2.1 North America Wagyu Beef Revenue (USD Million) by Country (2018-2022)

8.2.2 North America Wagyu Beef Revenue (USD Million) by Type (2018-2022)

8.2.3 North America Wagyu Beef Revenue (USD Million) by Applications (2018-2022)

8.3 Europe Wagyu Beef Revenue (USD Million), by Type, and Applications (USD Million) (2018-2022)

8.3.1 Europe Wagyu Beef Revenue (USD Million), by Country (2018-2022)

8.3.2 Europe Wagyu Beef Revenue (USD Million) by Type (2018-2022)

8.3.3 Europe Wagyu Beef Revenue (USD Million) by Applications (2018-2022)

8.4 Asia Pacific Wagyu Beef Revenue (USD Million), and Revenue (USD Million) by Type, and Applications (2018-2022)

8.4.1 Asia Pacific Wagyu Beef Revenue (USD Million) by Country (2018-2022)

8.4.2 Asia Pacific Wagyu Beef Revenue (USD Million) by Type (2018-2022)

8.4.3 Asia Pacific Wagyu Beef Revenue (USD Million) by Applications (2018-2022)

8.5 South America Wagyu Beef Revenue (USD Million), by Type, and Applications (2018-2022)

8.5.1 South America Wagyu Beef Revenue (USD Million), by Country (2018-2022)

8.5.2 South America Wagyu Beef Revenue (USD Million) by Type (2018-2022)

8.5.3 South America Wagyu Beef Revenue (USD Million) by Applications (2018-2022)

8.6 Middle East and Africa Wagyu Beef Revenue (USD Million), by Type, Technology, Application, Thickness (2018-2022)

8.6.1 Middle East and Africa Wagyu Beef Revenue (USD Million) by Country (2018-2022)

8.6.2 Middle East and Africa Wagyu Beef Revenue (USD Million) by Type (2018-2022)

8.6.3 Middle East and Africa Wagyu Beef Revenue (USD Million) by Applications (2018-2022)

 

9 Company Profiles

 

10 Global Wagyu Beef Market Revenue (USD Million), by Type, and Applications (2023-2028)

10.1 Global Wagyu Beef Revenue (USD Million) and Market Share (%) by Type (2023-2028)

10.1.1 Global Wagyu Beef Revenue (USD Million), and Market Share (%) by Type (2023-2028)

10.2 Global Wagyu Beef Revenue (USD Million) and Market Share (%) by Applications (2023-2028)

10.2.1 Global Wagyu Beef Revenue (USD Million), and Market Share (%) by Applications (2023-2028)

11 Global Wagyu Beef Development Regional Status and Outlook Forecast

11.1 Global Wagyu Beef Revenue (USD Million) By Regions (2023-2028)

11.2 North America Wagyu Beef Revenue (USD Million) by Type, and Applications (2023-2028)

11.2.1 North America Wagyu Beef Revenue (USD) Million by Country (2023-2028)

11.2.2 North America Wagyu Beef Revenue (USD Million), by Type (2023-2028)

11.2.3 North America Wagyu Beef Revenue (USD Million), Market Share (%) by Applications (2023-2028)

11.3 Europe Wagyu Beef Revenue (USD Million), by Type, and Applications (2023-2028)

11.3.1 Europe Wagyu Beef Revenue (USD Million), by Country (2023-2028)

11.3.2 Europe Wagyu Beef Revenue (USD Million), by Type (2023-2028)

11.3.3 Europe Wagyu Beef Revenue (USD Million), by Applications (2023-2028)

11.4 Asia Pacific Wagyu Beef Revenue (USD Million) by Type, and Applications (2023-2028)

11.4.1 Asia Pacific Wagyu Beef Revenue (USD Million), by Country (2023-2028)

11.4.2 Asia Pacific Wagyu Beef Revenue (USD Million), by Type (2023-2028)

11.4.3 Asia Pacific Wagyu Beef Revenue (USD Million), by Applications (2023-2028)

11.5 South America Wagyu Beef Revenue (USD Million), by Type, and Applications (2023-2028)

11.5.1 South America Wagyu Beef Revenue (USD Million), by Country (2023-2028)

11.5.2 South America Wagyu Beef Revenue (USD Million), by Type (2023-2028)

11.5.3 South America Wagyu Beef Revenue (USD Million), by Applications (2023-2028)

11.6 Middle East and Africa Wagyu Beef Revenue (USD Million), by Type, and Applications (2023-2028)

11.6.1 Middle East and Africa Wagyu Beef Revenue (USD Million), by Region (2023-2028)

11.6.2 Middle East and Africa Wagyu Beef Revenue (USD Million), by Type (2023-2028)

11.6.3 Middle East and Africa Wagyu Beef Revenue (USD Million), by Applications (2023-2028)

 

12 Methodology and Data Sources

12.1 Methodology/Research Approach

12.1.1 Research Programs/Design

12.1.2 Market Size Estimation

12.1.3 Market Breakdown and Data Triangulation

12.2 Data Sources

12.2.1 Secondary Sources

12.2.2 Primary Sources

12.3 Disclaimer

 

List Of Tables

Table 1 Market Segmentation Analysis

Table 2 Global Wagyu Beef Market Companies with Areas Served

Table 3 Products Offerings Global Wagyu Beef Market

Table 4 Low Growth Scenario Forecasts

Table 5 Reference Case Growth Scenario

Table 6 High Growth Case Scenario

Table 7 Global Wagyu Beef Revenue (USD Million) And CAGR (%) By Type (2018-2028)

Table 8 Global Wagyu Beef Revenue (USD Million) And CAGR (%) By Applications (2018-2028)

Table 9 Global Wagyu Beef Revenue (USD Million) And CAGR (%) By Regions (2018-2028)

Table 10 Global Wagyu Beef Revenue (USD Million) By Type (2018-2022)

Table 11 Global Wagyu Beef Revenue Market Share (%) By Type (2018-2022)

Table 12 Global Wagyu Beef Revenue (USD Million) By Applications (2018-2022)

Table 13 Global Wagyu Beef Revenue Market Share (%) By Applications (2018-2022)

Table 14 Global Wagyu Beef Market Revenue (USD Million) By Regions (2018-2022)

Table 15 Global Wagyu Beef Market Share (%) By Regions (2018-2022)

Table 16 North America Wagyu Beef Revenue (USD Million) By Country (2018-2022)

Table 17 North America Wagyu Beef Revenue (USD Million) By Type (2018-2022)

Table 18 North America Wagyu Beef Revenue (USD Million) By Applications (2018-2022)

Table 19 Europe Wagyu Beef Revenue (USD Million) By Country (2018-2022)

Table 20 Europe Wagyu Beef Revenue (USD Million) By Type (2018-2022)

Table 21 Europe Wagyu Beef Revenue (USD Million) By Applications (2018-2022)

Table 22 Asia Pacific Wagyu Beef Revenue (USD Million) By Country (2018-2022)

Table 23 Asia Pacific Wagyu Beef Revenue (USD Million) By Type (2018-2022)

Table 24 Asia Pacific Wagyu Beef Revenue (USD Million) By Applications (2018-2022)

Table 25 South America Wagyu Beef Revenue (USD Million) By Country (2018-2022)

Table 26 South America Wagyu Beef Revenue (USD Million) By Type (2018-2022)

Table 27 South America Wagyu Beef Revenue (USD Million) By Applications (2018-2022)

Table 28 Middle East and Africa Wagyu Beef Revenue (USD Million) By Region (2018-2022)

Table 29 Middle East and Africa Wagyu Beef Revenue (USD Million) By Type (2018-2022)

Table 30 Middle East and Africa Wagyu Beef Revenue (USD Million) By Applications (2018-2022)

 

Table 31 Financial Analysis

Table 32 Global Wagyu Beef Revenue (USD Million) By Type (2023-2028)

Table 33 Global Wagyu Beef Revenue Market Share (%) By Type (2023-2028)

Table 34 Global Wagyu Beef Revenue (USD Million) By Applications (2023-2028)

Table 35 Global Wagyu Beef Revenue Market Share (%) By Applications (2023-2028)

Table 36 Global Wagyu Beef Market Revenue (USD Million), And Revenue (USD Million) By Regions (2023-2028)

Table 37 North America Wagyu Beef Revenue (USD)By Country (2023-2028)

Table 38 North America Wagyu Beef Revenue (USD Million) By Type (2023-2028)

Table 39 North America Wagyu Beef Revenue (USD Million) By Applications (2023-2028)

Table 40 Europe Wagyu Beef Revenue (USD Million) By Country (2023-2028)

Table 41 Europe Wagyu Beef Revenue (USD Million) By Type (2023-2028)

Table 42 Europe Wagyu Beef Revenue (USD Million) By Applications (2023-2028)

Table 43 Asia Pacific Wagyu Beef Revenue (USD Million) By Country (2023-2028)

Table 44 Asia Pacific Wagyu Beef Revenue (USD Million) By Type (2023-2028)

Table 45 Asia Pacific Wagyu Beef Revenue (USD Million) By Applications (2023-2028)

Table 46 South America Wagyu Beef Revenue (USD Million) By Country (2023-2028)

Table 47 South America Wagyu Beef Revenue (USD Million) By Type (2023-2028)

Table 48 South America Wagyu Beef Revenue (USD Million) By Applications (2023-2028)

Table 49 Middle East and Africa Wagyu Beef Revenue (USD Million) By Region (2023-2028)

Table 50 Middle East and Africa Wagyu Beef Revenue (USD Million) By Region (2023-2028)

Table 51 Middle East and Africa Wagyu Beef Revenue (USD Million) By Type (2023-2028)

Table 52 Middle East and Africa Wagyu Beef Revenue (USD Million) By Applications (2023-2028)

Table 53 Research Programs/Design for This Report

Table 54 Key Data Information from Secondary Sources

Table 55 Key Data Information from Primary Sources

 

 

List Of Figures

Figure 1 Market Scope

Figure 2 Porter’s Five Forces

Figure 3 Global Wagyu Beef Revenue (USD Million) By Type (2018-2022)

Figure 4 Global Wagyu Beef Revenue Market Share (%) By Type (2022)

Figure 5 Global Wagyu Beef Revenue (USD Million) By Applications (2018-2022)

Figure 6 Global Wagyu Beef Revenue Market Share (%) By Applications (2022)

Figure 7 Global Wagyu Beef Market Revenue (USD Million) By Regions (2018-2022)

Figure 8 Global Wagyu Beef Market Share (%) By Regions (2022)

Figure 9 North America Wagyu Beef Revenue (USD Million) By Country (2018-2022)

Figure 10 North America Wagyu Beef Revenue (USD Million) By Type (2018-2022)

Figure 11 North America Wagyu Beef Revenue (USD Million) By Applications (2018-2022)

Figure 12 Europe Wagyu Beef Revenue (USD Million) By Country (2018-2022)

Figure 13 Europe Wagyu Beef Revenue (USD Million) By Type (2018-2022)

Figure 14 Europe Wagyu Beef Revenue (USD Million) By Applications (2018-2022)

Figure 15 Asia Pacific Wagyu Beef Revenue (USD Million) By Country (2018-2022)

Figure 16 Asia Pacific Wagyu Beef Revenue (USD Million) By Type (2018-2022)

Figure 17 Asia Pacific Wagyu Beef Revenue (USD Million) By Applications (2018-2022)

Figure 18 South America Wagyu Beef Revenue (USD Million) By Country (2018-2022)

Figure 19 South America Wagyu Beef Revenue (USD Million) By Type (2018-2022)

Figure 20 South America Wagyu Beef Revenue (USD Million) By Applications (2018-2022)

Figure 21 Middle East and Africa Wagyu Beef Revenue (USD Million) By Region (2018-2022)

Figure 22 Middle East and Africa Wagyu Beef Revenue (USD Million) By Type (2018-2022)

Figure 23 Middle East and Africa Wagyu Beef Revenue (USD Million) By Applications (2018-2022)

Figure 24 Global Wagyu Beef Revenue (USD Million) By Type (2023-2028)

Figure 25 Global Wagyu Beef Revenue Market Share (%) By Type (2028)

Figure 26 Global Wagyu Beef Revenue (USD Million) By Applications (2023-2028)

Figure 27 Global Wagyu Beef Revenue Market Share (%) By Applications (2028)

Figure 28 Global Wagyu Beef Market Revenue (USD Million) By Regions (2023-2028)

Figure 29 North America Wagyu Beef Revenue (USD Million) By Country (2023-2028)

Figure 30 North America Wagyu Beef Revenue (USD Million) By Type (2023-2028)

Figure 31 North America Wagyu Beef Revenue (USD Million) By Applications (2023-2028)

Figure 32 Europe Wagyu Beef Revenue (USD Million) By Country (2023-2028)

Figure 33 Europe Wagyu Beef Revenue (USD Million) By Type (2023-2028)

Figure 34 Europe Wagyu Beef Revenue (USD Million) By Applications (2023-2028)

Figure 35 Asia Pacific Wagyu Beef Revenue (USD Million) By Country (2023-2028)

Figure 36 Asia Pacific Wagyu Beef Revenue (USD Million) By Type (2023-2028)

Figure 37 Asia Pacific Wagyu Beef Revenue (USD Million) By Applications (2023-2028)

Figure 38 South America Wagyu Beef Revenue (USD Million) By Country (2023-2028)

Figure 39 South America Wagyu Beef Revenue (USD Million) By Type (2023-2028)

Figure 40 South America Wagyu Beef Revenue (USD Million) By Applications (2023-2028)

Figure 41 Middle East and Africa Wagyu Beef Revenue (USD Million) By Region (2023-2028)

Figure 42 Middle East and Africa Wagyu Beef Revenue (USD Million) By Region (2023-2028)

Figure 43 Middle East and Africa Wagyu Beef Revenue (USD Million) By Type (2023-2028)

Figure 44 Middle East and Africa Wagyu Beef Revenue (USD Million) By Applications (2023-2028)

Figure 45 Bottom-Up and Top-Down Approaches For This Report

Figure 46 Data Triangulation