Wagyu Beef Market Size, Share, Trends, Growth and Forecast 2032

Wagyu Beef Industry Prospective:

The global Wagyu beef market size was worth around USD 23.5 billion in 2023 and is predicted to grow to around USD 42.5 billion by 2032, with a compound annual growth rate (CAGR) of roughly 6.8% between 2024 and 2032.

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Wagyu Beef Market: Overview

The four main beef cow breeds in Japan are together referred to as wagyu. To generate all wagyu cattle, native Japanese cattle were mixed with foreign stock, primarily from Europe, during the beginning of the 20th century. One of the priciest meats in the world is wagyu beef. The fat threads that give red meat its moisture content, tenderness, and flavor are known as marbling. Depending on where it comes from, wagyu beef is frequently referred to by several names. In several Japanese prefectures, Wagyu beef is delivered under regional labels as Yonezawa beef, Ōmi beef, Matsusaka meat, and Kobe beef from Tajima cattle.

Key Insights

• As per the analysis shared by our research analyst, the global wagyu beef market is estimated to grow annually at a CAGR of around 6.8% over the forecast period (2024-2032).
• In terms of revenue, the global wagyu beef market size was valued at around USD 23.5 billion in 2023 and is projected to reach USD 42.5 billion by 2032.
• The increasing health consciousness among consumers is expected to drive the Wagyu beef market over the forecast period.
• Based on type, the full blood segment is expected to dominate the market over the forecast period.
• Based on the distribution channel, the foodservice segment is expected to hold the largest market share over the forecast period.
• Based on region, the Asia Pacific is expected to dominate the market during the forecast period.

Wagyu Beef Market: Growth Drivers

Health benefits of wagyu beef drives market growth

The health benefits of consuming it have been increasingly and efficiently traced and recorded, promoting a global shift in emphasis toward good health. The growing severity of chronic and infectious E. coli bacterial infections, cancers, and diseases associated with a lack of vitamins A and E, fatty acids, and omega-3s and omega-6s has attracted the interest of its creators. Companies that offer new and improved wagyu beef kinds and products on the worldwide market, which has increased demand for premium wagyu beef, are the most important drivers of global industry growth.

Furthermore, global demand for wagyu beef is rising as more people adopt premium cuts of beef. It is one of the most effective ways to maintain optimum health, resulting in global market growth. Numerous suppliers focusing on extensive R&D and introducing new, upgraded Wagyu beef products are expected to boost the global Wagyu business.

Wagyu Beef Market: Restraints

Low awareness and penetration in emerging nations hinder market growth

Markets in developing and expanding countries, such as India, France, Spain, New Zealand, Singapore, Argentina, Thailand, Brazil, South Africa, and others with low GDP, are notoriously tough to penetrate and boost sales due to constantly shifting consumer expectations. The performance of Wagyu beef-importing firms in these countries is regularly monitored as trade policies and political climates change.

Due to a lack of investment in marketing and supply chains, as well as the highly competitive nature of regional marketplaces, producers and importers in these countries require increased sales. In these countries, a lack of marketing investments and a strong level of competition have resulted in a shared awareness of wagyu beef's health benefits and penetration.

One of the most significant difficulties confronting the global Wagyu beef industry in growing regions is the need for increased government aid in most emerging and developing countries, where health is regarded as an underlying and neglected condition.

Wagyu Beef Market: Opportunities

Increasing partnership offers a lucrative opportunity for market growth

The increasing partnership is expected to offer a lucrative opportunity to the Wagyu beef market during the analysis period. For instance, in January 2024, ZIPAIR Tokyo partnered with JA ZEN-NOH Meat Foods Co., Ltd. and JAL Cargo Service Co., Ltd. to offer a new, exclusive service for consumers traveling to Singapore and/or the US to buy Japanese Wagyu beef. JAL Cargo has been collaborating with JA ZEN-NOH Group and Narita City Wholesale Market to establish a new commercial and commodity distribution channel for exporting goods from Japan, in line with the Ministry of Agriculture, Forestry, and Fisheries' objective of reaching 5 trillion yen in annual exports by 2030. The companies will offer an easy way to buy Japanese Wagyu beef on a few international flights run by ZIPAIR through this new agreement.

Wagyu Beef Market: Challenges

Premium price of wagyu beef poses a major challenge to market expansion

Wagyu cattle have unique nutritional requirements, long rearing times, and specialized care, which raises production costs. Wagyu beef's high price reflects these costs, which could discourage a wider range of consumers from purchasing it. Therefore, the premium price of wagyu beef poses a major challenge for the wagyu beef industry growth.

Wagyu Beef Market: Report Scope

Wagyu Beef Market: Segmentation

The global wagyu beef industry is segmented based on type, distribution channel, and region.

Based on the type, the global wagyu beef market is segmented into fullblood, purebred and crossbred. The fullblood segment is expected to dominate the market over the forecast period. The demand for fine, gourmet foods is growing worldwide, and people are prepared to spend more for real Fullblood Wagyu beef. This tendency is especially noticeable among gourmet customers looking for unusual culinary experiences and in high-end dining establishments.

Based on the distribution channel, the global Wagyu beef industry is bifurcated into foodservice, online retail, and offline retail. The foodservice segment is expected to hold the largest market share over the forecast period. The adoption of wagyu beef by the foodservice sector is indicative of a larger consumer preference for upscale and genuine eating experiences. Businesses that include wagyu beef in their menus are well-positioned to draw in and keep consumers looking for outstanding quality and flavor as the market grows.

Wagyu Beef Market: Regional Analysis

The Asia Pacific dominates the market over the projected period

The Asia Pacific is expected to dominate the global Wagyu beef market. The industry is expected to grow as a result of the presence of rapidly developing economies like China, Japan, Singapore, and Thailand. It is projected that favorable government regulations and a shift in Asia-Pacific consumer shopping habits toward e-commerce will drive future growth in the Wagyu beef market.

For instance, the ten-year national strategy, Made in China 2025, aims to make China a global manufacturing powerhouse. It is projected that this strategy will boost Chinese product exports, which will raise demand for wagyu meat as a marketing and customer service strategy. The Asia-Pacific wagyu beef industry is strengthened as several wagyu meat brands are brought to the market in China and Japan. The market is gaining from the steady increase in demand for healthful wagyu meat in Asia-Pacific. Consumers who are worried about the health benefits of premium beef no longer have to worry about nutrition due to new products in the market.

Food, a balanced diet, and the lack of negative effects like weight gain are the main topics of new product releases in the Asia-Pacific market today. The growing number of health-conscious customers who place a high value on eating meat in a way that promotes health and other advantages, such as preventing disease, is eventually driving the Asia-Pacific market.

Wagyu Beef Market: Competitive Analysis

The global wagyu beef market is dominated by players like:

• Agri Beef Co.
• Imperial Wagyu Beef LLC
• Australian Agricultural Company Limited
• Starzen Co. Ltd
• Blackmore Wagyu
• Stockyard Pty Ltd
• Lone Mountain Wagyu LLC
• Jack's Creek
• Black Hawk Farms
• Toriyama Umami Wagyu
• K.C. Cattle Company
• Ohmi Beef
• Mishima Reserve
• Holy Grail Steak Co.
• Wagyu Sekai

The global wagyu beef market is segmented as follows:

By Type

• Fullblood
• Purebred
• Crossbred

By Distribution Channel

• Foodservice
• Online Retail
• Offline Retail

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa