New York, United States, Oct. 26, 2022 (GLOBE NEWSWIRE) -- According to a research report published by Spherical Insights & Consulting, the Global Wagyu Beef Market Size to grow from USD 2.21 billion in 2021 to USD 3.73 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 6% during the forecast period. The market for wagyu beef is expanding dramatically, supported by shifting customer preferences and an elevated level of life. The market for wagyu beef has a positive outlook, mostly supported by rising household affluence and beef consumption worldwide.
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The COVID-19 pandemic has made an adverse impact on credit portfolios. There has been an unprecedented rise in unemployment and disruption in economic activity, putting a strain on the solvency of customers and companies. Central banks have taken a proactive approach by injecting liquidity into the market by lowering interest rates and asset purchase programs. Managing and monitoring credit, market, liquidity, and operational risk across financial markets were hard enough with ongoing geopolitical tensions, international trade wars, and the occasional hurricanes and earthquakes. The current pandemic situation has forced chief risk officers and their teams to recalibrate old assumptions and models used to manage and monitor risk. COVID-19’s global impact has shown that interconnectedness plays an important role in international cooperation. As a result, many governments started rushing toward identifying, evaluating, and procuring reliable solutions powered by AI.
The Online delivery segment to account for the largest market size during the forecast period
Based on the distribution channel, the Wagyu Beef Market is categorized into Online delivery and Store-based Retail. The Online delivery segment accounts for the largest market size during the forecast period. Consumers are actively engaged in online buying and are increasingly spending an increasing amount of time online. Due to quick delivery options and extensive product selection at low rates, online businesses have gained popularity among customers. Players have been pushed to increase their online presence by rising internet usage, especially in developed North America and Europe. The major firms are collaborating with other well-known e-commerce websites to improve their total digital presence.
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A coronary organic segment to hold a higher CAGR during the forecast period
Based on nature, the Wagyu Beef Market is categorized as Organic and Conventional. A coronary organic segment to hold higher CAGR during the forecast period. A recent study that was published in the Journal of the Science of Food and Agriculture found that organic beef has higher levels of antioxidants, including 34% more Q10, 72% more taurine, and 53% more beta-carotene. With 17% less cholesterol, 32% less fat, 16% fewer fatty acids, and 24% fewer monounsaturated fatty acids, organic beef also showed a better-balanced lipid (fat) profile. Organic meat proved particularly advantageous, with 170% more heart-healthy linolenic acid than conventional beef.
The direct-to-human use segment is to hold a higher CAGR during the forecast period.
Based on the application, the Wagyu Beef Market is categorized as Direct to Human Use and Industrial Use. Almost all fungus, bacteria, and viruses that are present on the skin are eradicated by the procedure of direct-to-human use. Regarding the application, wagyu beef is used directly for human use as it contains a lot of nutrients which is beneficial for human health.
Asia-Pacific to hold a higher CAGR during the forecast period.
The Wagyu Beef market has been segmented into five major regions: Asia-Pacific, Europe, APAC, Latin America, and MEA. The Asia Pacific is estimated to account for the highest market share in 2022. Because Japan is the greatest producer and consumer of various forms of wagyu beef, the Asia-Pacific area now rules the wagyu beef market. In Japan, wagyu is regularly consumed by almost 80% of the population. The Japanese participate in intensive promotional operations to ensure high reach and value sales as the food service industry grows in their country. Australia, the United States, and Canada are anticipated to have rapid growth throughout the forecast period as they are the top three exporters of wagyu beef in the world.
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Key Companies & Recent Developments: The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Blackmore Wagyu, Itoham Foods Inc., Snake River Farms, Starzen Co. Ltd., DeBragga and Spitler, Sysco Corporation, Chicago Steak Company, Creek Bed Country Farmacy, LLC, Fairway Packing Company\The Butcher's Market, West Coast Prime Meat, American Grass Fed Beef, DrybagSTeak, LLC and Other Major Key Vendors from Global Market.
Global Wagyu Beef Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Japanese Breed, Australian Breed, Cross Breed, and Others), By Applications (Direct to Human Use and Industrial Use), By Nature (Organic, Conventional), By Distribution Channels (Online delivery and Store-based Retail), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030.
https://www.sphericalinsights.com/reports/wagyu-beef-market
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