Wagyu Beef Global Market Report 2024

The wagyu beef market size has grown strongly in recent years. It will grow from $2.35 billion in 2023 to $2.53 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The expansion observed in the historical period can be ascribed to the fusion of cross-cultural culinary influences, heightened awareness and education in the culinary domain, the emergence of upscale retail establishments, the global dissemination of culinary trends, and the impactful role played by media and culinary influencers.

The wagyu beef market size is expected to see strong growth in the next few years. It will grow to $3.29 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The anticipated growth in the forecast period can be linked to the establishment of regulatory and quality standards, the implementation of educational campaigns, the flourishing of online retail, increased demand in the foodservice sector, and forays into new markets. Key trends expected in the forecast period encompass educational and experiential marketing, a surge in ethical and sustainable practices, emphasis on traceability and transparency, growing awareness of health and nutrition, and the expansion of premiumization and the luxury market.

The anticipated growth in the Wagyu beef market is expected to be propelled by the rapid expansion of the food and beverage industries. The term 'food and beverage industry' encompasses businesses involved in converting raw agricultural materials into consumer food products, offering food transportation services, managing catering businesses, and more. Wagyu beef finds its primary consumption in the food industry due to its high fat marbling, resulting in a rich flavor best enjoyed in small portions. For instance, data from April 2022, as reported by the Common Thread Collective, a US-based e-commerce growth agency, indicated global food and beverage sales reaching $506 billion in 2022, with an expected increase to $857 billion by 2025. Additionally, according to Statistics Sweden, a Sweden-based government agency, food and beverage sales in 2021 amounted to $30.74 billion (SEK 334 billion). Therefore, the swift growth of the food and beverage industries is a driving force behind the Wagyu beef market.

The increasing consciousness about health and fitness is poised to elevate the growth of the Wagyu beef market. Health and fitness, addressing overall well-being across physical, mental, and social dimensions, influence consumer choices towards high-quality protein sources such as Wagyu beef, appreciated for its marbling, tenderness, and perceived health benefits. As an example, a January 2022 survey report from Nutrisystem, a US-based provider of weight loss products, revealed that among 2,000 participants, 53% expressed their goal for 2022 as weight loss, with an average target of 14 pounds. Hence, the growing awareness of health and fitness is a driving factor for the Wagyu beef market.


Product innovation stands out as a prominent trend gaining traction in the Wagyu beef market. Key companies in the Wagyu beef sector are prioritizing the development of inventive products and solutions to maintain their market positions. For instance, in February 2023, Hall Farmstead, a US-based Wagyu beef producer, introduced purebred artisan Wagyu beef to the market, emphasizing sustainability and ethical practices in raising their products. This purebred artisan Wagyu beef is characterized by a high level of marbling, imparting a delicate, buttery flavor that distinguishes it from crossbred Wagyu varieties.

Major players in the Wagyu beef market are strategically introducing products such as grain-fed beef to cater to broader customer bases, stimulate sales, and boost revenue. Grain-fed beef involves feeding cattle a diet primarily composed of grains, such as corn, barley, and soy, in the final stages of their lives in the feedlot. For example, in October 2023, 1788 BEEF, a brand under the Jan Zandbergen Group based in the Netherlands, launched a series of Australian grain-fed Wagyu beef. This product line features Wagyu cattle subjected to a specialized diet, including natural supplements such as grain, grass, and corn, for a minimum of 300+ days. This unique feeding approach enhances not only the taste but also the healthiness and nutritional profile of the beef. With a minimum AUSMEAT marbling score of 6-7 achieved through this diet, customers can expect consistently high-quality products, ensuring the finest taste and texture with each purchase.

In March 2022, Wilders Wagyu, a US-based provider of farm-raised beef, acquired 249 Fullblood Wagyu from Double 8 Cattle Co. for an undisclosed amount. The acquisition, which included DECFS3086 Double 8 Cattle Double Down On X (ET), paves the way for Wilders Wagyu to implement plans such as a production sale, genetics production, Wagyu beef sales, and private agreements. Double 8 Cattle Co. is a US-based family-owned farm specializing in full-blood Wagyu beef products.

Major companies operating in the wagyu beef market report are Starzen Company Ltd., Itoham Foods Inc., Stanbroke, Australian Agricultural Company,West Coast Prime Meats, Masami Foods, Broadleaf, DeBragga & Spitler Inc., Middle East Fuji L.L.C., Westholme, Mishima Reserve,The Dorset Meat Company, Jack's Creek, Black Hawk Farms,Chicago Steak Company,Holy Grail Steak Co., KC Cattle Company,Lone Mountain Cattle Company, Nebraska Star Beef, Rangers Valley, Sher Wagyu, Snake River Farms,Tajimaya UK ltd., Morgan Ranch LLC, DrybagSteak LLC, Blackmore Wagyu, Darling Downs Wagyu, Toriyama Umami Wagyu.

Asia-Pacific was the largest region in the wagyu beef market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the wagyu beef market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the wagyu beef market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The primary categories of wagyu beef include wagyu and kobe, crossbreeding, and 100% full-blood wagyu. Wagyu denotes a specific Japanese breed of cattle, and the term 'Kobe' is associated with the meat from these animals. These distinct varieties of wagyu beef are made available through diverse distribution channels, encompassing online stores and retail outlets, catering to various applications such as direct consumption by consumers and industrial utilization.

The wagyu beef market research report is one of a series of new reports that provides wagyu beef market statistics, including wagyu beef industry global market size, regional shares, competitors with a wagyu beef market share, detailed wagyu beef market segments, market trends and opportunities, and any further data you may need to thrive in the wagyu beef industry. This wagyu beef market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The wagyu beef market consists of sales of fullblood wagyu, purebred wagyu, and crossbred wagyu. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).


The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.