Latest Report Titled on “Wasabi Market to 2027 – Global Analysis and Forecasts by Product Type (Powder, Paste and Sauces, Others); Packaging Type (Bottles, Tubes, Pouches and Sachets, Others); Distribution Channel (Stored Based, Non-Stored Based) and Geography”
Global Wasabi Market Research Report analyses the industry status, size, share, trends, growth opportunity, compsetition landscape and forecast to 2027. This report also provides data on patterns, improvements, target business sectors, limits and advancements. Furthermore, this research report categorizes the market by companies, region, type and end-use industry. An exclusive data offered in this report is collected by The Insight Partner’s dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
Top Leading Players:
- World Wasabi Inc.
- Clearspring Ltd.
- Eden Foods
- KINJIRUSHI Co., Ltd.
- Oregon Coast Wasabi
- Real Wasabi, LLC
- Wingreens Farms
- Wasabi Essentials Ltd.
- S&B Foods Inc.
- Silver Spring Foods, Inc.
The global wasabi market accounted to US$ 279.7 Mn in 2018 and is expected to grow at a CAGR of 8.7% during the forecast period 2019 – 2027, to account to US$ 590.8 Mn by 2027.
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Increasing awareness of health benefits of wasabi
Wasabi is a cruciferous vegetable that naturally grows typically along the streambeds in the mountain river valleys. Owing to its some of the medicinal properties such as anti-inflammatory properties, antibacterial properties, fat loss, cancer suppression, and healing muscle pain, wasabi is gainig high potential in the market. Thus, use of wasabi in the form of paste, powder is expected to be the main driving factor of the wasabi market.
Emergence of fusion cuisine
Many of the chefs are experimenting with fusion cuisine are finding new uses for wasabi. For instance, wasabi now finds its usage with steak, ice cream, and even for beer brewing. The growing usage of wasabi with steak and roast beef is opportunistic for the growth of the market. Other combinations of wasabi including chocolate bars, sweets, starch, popcorn, rice, and salad among others are estimated to bolster the market demand for wasabi at a global level across varied demographics of population and choices. Therefore, this factor will positively impact the growth of wasabi market.
Product Type Insights
The global wasabi market by prtoduct type is segmented into powder, paste & sauces, and others. The powder segment dominates the wasabi market heavily and is expected to continue its dominance throughout the forecast period from 2019 – 2027. The wasabi powder is offered in a sealed package. The wasabi powder is stored in the freezer to maintain the quality and taste of wasabi.
Distribution Channel Insights
The global wasabi market by distribution channel is segmented into store-based and non store-based. The store-based segment dominates the wasabi market heavily and is expected to continue its dominance throughout the forecast period from 2019 – 2027. Due to high price and scarcity of wasabi, the products of wasabi are available in specialty shop, as these shops deal in marketing of specific products only.
Packaging Type Insights
The global wasabi market by packaging type is segmented into bottles, tubes, pouches & sachets, and others. The bottles dominates the wasabi market heavily and is expected to continue its dominance throughout the forecast period from 2019 – 2027. The bottle packaging helps in maintaining the quality and shelf-life of wasabi.
The wasabi market by application is further segmented into food & beverage, medical, and nutraceutical. The food & beverage of the wasabi market dominate the application segment and is expected to continue its dominance throughout the forecast period from 2019 – 2027. With an increase in the number of Japanese restaurants, demand for authentic wasabi is also booming. Around 5-10% of restaurants serve wasabi which is made from the actual plant outside Japan, whereas, remaining hotels and restaurants uses imitation of wasabi made up from horseradish, green color flavoring, mustard, and others.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the Wasabi market based on various segments. The Wasabi market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
Regional Analysis covers: North America, Europe, APAC, MEA and South & Central America
The reports cover key developments in the Wasabi market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market payers from Wasabi market are anticipated to lucrative growth opportunities in the future with the rising demand for Wasabi in the global market.
Table of Contents included in Wasabi Market Report – Introduction, Key Takeways, Research Methodology, Wasabi Market Landscape, Wasabi Market – Key Market Dynamics, Wasabi Market – Global Market Analysis, Wasabi Market – Revenue And Forecasts To 2027 – Product Type, Wasabi Market – Revenue And Forecasts To 2027 – Industry, Industry Landscape, Wasabi Market, Key Company Profiles, Appendix.
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This post was originally published on Trading Herald