Wagyu Beef Market Size to Reach US$ 10850 Million by 2030: Industry Insights and Forecast 2024-2030

PUNE, India - May 7, 2024 - PRLog -- Wagyu beef, renowned for its exceptional marbling and tender texture, has garnered a global reputation as one of the most luxurious and sought-after beef varieties. Originating from Japan, Wagyu beef is now produced in several countries, including Australia, the United States, and others, where farmers meticulously raise Wagyu cattle to ensure the highest quality meat.

The global Wagyu beef market was valued at US$ 7500 million in 2023 and is projected to reach US$ 10850 million by 2030, with a CAGR of 5.3% during the forecast period 2024-2030.

This growth is attributed to the increasing recognition of Wagyu beef for its superior quality and flavor profile, leading to a growing consumer base seeking out this premium beef variety for its exceptional dining experience.

Key players in the Wagyu beef market include Itoham Foods Inc., Starzen Co., Ltd., Australian Agricultural Company (AACo), Snake River Farms, and others. These companies play a significant role in shaping the market dynamics and meeting the growing demand for Wagyu beef.

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Asia-Pacific is the largest market for Wagyu beef, accounting for about 89% market share. Other regions, including North America and Europe, are also experiencing growth in demand for Wagyu beef, driven by the increasing popularity of Japanese cuisine and the growing trend of gourmet cooking at home.

In conclusion, the global Wagyu beef market is poised for continued growth, driven by the increasing demand for high-quality beef products and the rising popularity of gourmet dining. With its exceptional quality and unique flavor profile, Wagyu beef is set to remain a premium choice in the global beef market.

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