Wagyu Beef Market Report 2024

(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Aug. 28, 2024 (GLOBE NEWSWIRE) -- The "Global Wagyu Beef market by Nature (Conventional, Organic), Product Type (Crossbred, Fullblood, Purebred), Distribution channel - Forecast 2024-2030" report has been added to ResearchAndMarkets.com's offering.
The Wagyu Beef Market grew from USD 17.57 billion in 2023 to USD 18.95 billion in 2024. It is expected to continue growing at a CAGR of 8.05%, reaching USD 30.22 billion by 2030.

An increase in disposable income and consumer demand for high-quality meat products and global culinary trends emphasizing unique dining experiences and exotic flavors increases the adoption of wagyu beef. However, the specific breeding, feeding, and care required for Wagyu cattle result in higher prices compared to other beef, which may limit the market expansion. Nevertheless, developing new Wagyu-based products to cater to different consumer preferences and implementing online sales platforms to reach consumers directly is expected to create potential opportunities for market growth.
Regional Insights
The wagyu beef market is evolving in the Americas owing to several initiatives, including crossbreeding programs to produce American Wagyu, combining the quality traits of Japanese Wagyu with local breeds. Investment in this sector is strong, with a notable rise in small-scale artisanal producers and large-scale operations that supply Wagyu beef to major retailers. The Asia-Pacific region is witnessing the Wagyu beef market growth due to its strong cultural heritage and longstanding consumption pattern.

Furthermore, governments in the area have invested in maintaining the pedigree and quality of Wagyu to protect and leverage its status as a luxury good, and investments in local farming practices and recent patent filings suggest a focus on improving the quality of meat and expanding Wagyu cattle herds in Asia-Pacific region. The demand for Wagyu beef in the European Union is growing, driven by a sophisticated consumer base that appreciates gourmet and high-end food products.

Several EU countries are also adopting traceability and quality assurance measures to ensure the authenticity of Wagyu imports and foster domestic production under controlled appellations. On the other hand, in the Middle East, investment in luxury dining experiences has led to a surge in demand for premium meat products such as Wagyu. This region's affluent consumers and premium hotels favor Wagyu beef for its exclusivity and status symbol.
Recent Developments

Hancock Agriculture Expands Wagyu Operations with Split Rock Dairy Acquisition
Hancock Agriculture, an Australian agribusiness, significantly bolstered its Wagyu beef operations by acquiring Split Rock Dairy. This strategic business move serves as an expansion that enhances Hancock's production capabilities and underpins its commitment to meeting the rising global demand for high-quality Wagyu beef.
1788 Beef Introduces New Wagyu Line
Jan Zandbergen Group, a player in the European meat industry, introduced a new Wagyu beef line under their well-regarded brand, '1788 Beef'. With the launch of this new line, Jan Zandbergen Group aims to cater to the evolving desires of epicureans across Europe, offering an exquisite experience rooted in tradition yet innovative in its delivery.
Finnebrogue Partnership to Create Cultivated Wagyu Beef Burgers
Finnebrogue Artisan announced a strategic collaboration with Roslin Technologies to craft a groundbreaking product - cultivated Wagyu beef burgers. This venture aims to meet the rising consumer demand for sustainable yet high-quality meat options.

Key Attributes:

Report Attribute	Details
No. of Pages	186
Forecast Period	2024 - 2030
Estimated Market Value (USD) in 2024	$18.95 Billion
Forecasted Market Value (USD) by 2030	$30.22 Billion
Compound Annual Growth Rate	8.0%
Regions Covered	Global

Market Dynamics

Market Segmentation Analysis

• Nature: Burgeoning utilization of organic wagyu beef owing to its quality and flavor of the meat
• Product Type: Increasing adoption of fullblood wagyu beef due to its high-quality
• Distribution Channel: Evolving online distribution channel for Wagyu beef

Market Drivers

• Increasing meat consumption and demand for protein foods
• Health benefits associated with consumption of wagyu beef
• Growing trend of exotic meals and prevalence of five-star restaurants

Market Restraints

• High cost of production and increasing consumer prices

Market Opportunities

• Rising e-commerce and availability of quality products online
• Potential of grass-fed beef and grazing feeding system and new technologies in Wagyu

Market Challenges

• Issues of disposing untreated excrement and food security risks from viral diseases of imported feed

Industry Insights

• Market Disruption Analysis
• Porter's Five Forces Analysis
• Value Chain & Critical Path Analysis
• Pricing Analysis
• Technology Analysis
• Patent Analysis
• Trade Analysis
• Regulatory Framework Analysis

Key Company Profiles

• Agri Beef Co.
• Arrowhead Beef
• Australian Agricultural Company Limited
• Black Hawk Farms
• Blackmore Wagyu
• Chicago Steak Company
• Dolan Foods Inc.
• Havel Wagyu GbR
• Hiro Wagyu Ltd.
• Holy Grail Steak Co.
• JAPAN PREMIUM BEEF Inc.
• K and K International Inc.
• King River Ag Pty Ltd.
• Lone Mountain Wagyu
• Masami Foods Inc.
• Morgan Ranch Inc.
• Nikusho Tanaka
• OSAWA ENTERPRISES
• Ovoka Farm
• Remesis Australia
• Starzen Co. Ltd.
• Stockyard Pty Ltd.
• WAGYU MASTER Europe GmbH

Market Segmentation & Coverage
Nature

• Conventional
• Organic

Product Type

• Crossbred
• Fullblood
• Purebred

Distribution Channel

• Offline
• Online

Region

Americas

• Argentina
• Brazil
• Canada
• Mexico
• United States
• California
• Florida
• Illinois
• New York
• Ohio
• Pennsylvania
• Texas

Asia-Pacific

• Australia
• China
• India
• Indonesia
• Japan
• Malaysia
• Philippines
• Singapore
• South Korea
• Taiwan
• Thailand
• Vietnam

Europe, Middle East & Africa

• Denmark
• Egypt
• Finland
• France
• Germany
• Israel
• Italy
• Netherlands
• Nigeria
• Norway
• Poland
• Qatar
• Russia
• Saudi Arabia
• South Africa
• Spain
• Sweden
• Switzerland
• Turkey
• United Arab Emirates
• United Kingdom

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Attachment

• Global Wagyu Beef Market

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