Market Research Report
Wasabi Market to 2027 - Global Analysis and Forecasts by Product Type ; Packaging Type ; Distribution Channel ; Application
|Published by||The Insight Partners||Product code||913827|
|Published||Content info||182 Pages
Delivery time: 1-2 business days
|Wasabi Market to 2027 - Global Analysis and Forecasts by Product Type ; Packaging Type ; Distribution Channel ; Application|
|Published: September 30, 2019||Content info: 182 Pages||
The global wasabi market was valued at US$ 279.7 Mn in 2018 and is expected to reach US$ 590.8 Mn by 2027 with a CAGR growth rate of 8.7% in the forecast period from 2019 to 2027.
The rising demand of wasabi owing to the increasing popularity of Japanese cuisine worldwide and its diverse health benefits, it is now grown in various parts of China, North America, Korea, and New Zealand among other places with suitable climatic conditions. Wasabi is an important condiment that is used in sushi, noodles and other Japanese dishes. Growing proliferation of Japanese cuisine across the world and increasing awareness of health benefits of wasabi are some of the factors driving the scope of wasabi market. The food & beverage industry is expected to drive the demand for wasabi worldwide owing to increase in the number of restaurants serving Japanese cuisines.
The wasabi market is experiencing a rise in both order intake and revenues. Driving factors such as growing proliferation of Japanese cuisine across the world and increasing awareness of health benefits of wasabi are anticipated to have a huge impact on the development of wasabi market in the coming years. Further, high price of Wasabia japonica pertaining to increased production complexities is expected to hinder the market growth in the coming years and have a high impact on the wasabi market in the shorter term.
In the global wasabi market, North America is anticipated to grow with the highest CAGR during the forecast period. Whereas, Asia Pacific holds the highest market share in the wasabi market. The economic growth in the developing countries of Asia-Pacific is quite impressive and these countries are expected to offer ample growth opportunities for the wasabi market.
The wasabi market globally is segmented by packaging type into bottles, tubes, pouches & sachets, and others. Geographically, the wasabi market is divided into five regions, including North America, Europe, Asia-Pacific, and the Middle East & Africa, and South America.
The overall wasabi market size has been derived using both primary and secondary sources. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the wasabi market. Also, multiple primary interviews were conducted with industry participants and commentators to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the wasabi industry.
Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global wasabi market
Highlights key business priorities in order to assist companies to realign their business strategies
The key findings and recommendations highlight crucial progressive industry trends in the global in wasabi market, thereby allowing players across the value chain to develop effective long-term strategies
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution