Global Wagyu Beef Jerky Market Overview
Wagyu Beef Jerky Market Size was valued at USD 2.5 Billion in 2022. The wagyu beef jerky market industry is projected to grow from USD 2.66 Billion in 2023 to USD 4.443 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.60% during the forecast period (2024 - 2032). The rising demand for gourmet foods, the rise in culinary tourism, and the expanding knowledge of Wagyu's health advantages are the main market drivers propelling the Wagyu beef jerky industry.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The population's growing disposable income is mostly driven by two major factors: the world's rapid urbanization and the rise in the number of individuals working in the formal economy. Moreover, shifts in consumer dietary habits have an impact on the consumption of animal protein in a number of nations, including China and Indonesia. As a result, in these marketplaces, the demand for beef products is rising quickly, driving the market CAGR. Additionally, global demand for premium beef cuts has increased, which has been positively impacted by the overall growth in protein consumption. A sizable portion of the public is willing to spend money on health-related products. Thus, customers' desire for high-end goods is growing. In addition, it is well-known for its tasty characteristics, distinct flavor, and health advantages. Customers who are concerned about their health should consider it because it is healthier than typical beef products. The high quantities of omega-3 and omega-6 fatty acids in Japanese beef contribute to its low LDL concentration. It also appeals to customers who like flavorful, healthful meat because of this. Wagyu beef jerky is becoming more and more popular because, despite its premium price, customer demand for these products has been steadily rising worldwide.
Ever since ancient times, Wagyu beef jerky has been linked to fine dining experiences and cuisine. It's a preferred choice for elite restaurants that serve food to exacting standards because of its remarkable marbling, melt-in-your-mouth texture, and unparalleled flavor. Wagyu beef jerky has become a mainstay on gourmet menus, captivating customers with its excellent flavor and luxurious presentation, whether it is served in Michelin-starred restaurants or those run by celebrity chefs. The demand for wagyu beef jerky in these environments is only going to increase as more people look for genuinely upgraded dining experiences.
Wagyu beef jerky consumption may rise and the gap between supply and demand may close throughout the forecast period, propelling the market. The production of Wagyu has increased as a result of government initiatives that support it. In May 2020, the Japanese government introduced the Beef Livestock Stabilization Program, or Marukin, to give support payments to Wagyu beef cow breeders. The government will reimburse Wagyu cattle farmers for 90% of the monthly discrepancy between their revised production costs and income as part of this effort. These policies will shape the market and influence the output of Wagyu beef jerky during the projection period. Thus, driving the wagyu beef jerky market revenue.
The Wagyu Beef Jerky Market segmentation, based on distribution channel, includes Offline and Online. The online segment dominated the market. Both the amount of time spent online and the volume of purchases made by consumers are growing. Customers have come to choose internet businesses because of their affordable prices, wide assortment of products, and speedy delivery options. The growing use of the internet, particularly in developed North America and Europe, has forced players to expand their online footprint.
The Wagyu Beef Jerky Market segmentation, based on product, includes Japanese Breed, Australian Breed, and Others. The Japanese breed category generated the most income. Globally, Japanese Wagyu beef is renowned for its marbling and softness. This department in Japan has some of the best Wagyu meat around. Within the complex and unique classification system are the breeds of Kobe and Matsusaka. Around the world, high-end eateries and gourmet enthusiasts favor Japanese Wagyu beef due to its lavish dining experience.
Figure 1: Wagyu Beef Jerky Market , by Product, 2023 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
By region, the study provides the market insights into North America, Europe, Asia-Pacific and the Rest of the World. The North American wagyu beef jerky market area will dominate this market. Wagyu beef jerky is becoming more and more popular in North America due to the growing significance of high-nutrient foods and the growing demand for upscale culinary goods. The USA and Canada are probably going to dominate the wagyu beef jerky market over the projection period. The region has witnessed a rise in beef consumption in recent times due to improved supply chain management and the growth of the meat industry.
Further, the major countries studied in the market report are the US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: WAGYU BEEF JERKY MARKET SHARE BY REGION 2023 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe wagyu beef jerky market accounts for the second-largest market share. The European Wagyu beef jerky market is driven by the presence of major market players in the area as well as by the aggressive marketing strategies used by importers and manufacturers to draw customers. Increasingly changing living patterns, the adoption of Western culture and eating habits, and growing awareness of Wagyu beef are some of the major factors driving increased demand in Europe. Further, the German wagyu beef jerky market held the largest market share, and the UK wagyu beef jerky market was the fastest growing market in the European region.
The Asia-Pacific Wagyu Beef Jerky Market is expected to grow at the fastest CAGR from 2024 to 2032 since Japan is the country that produces and consumes the most different kinds of wagyu beef jerky. Almost 80% of people in Japan regularly eat wagyu. In order to guarantee high reach and value sales as the food service industry grows, the Japanese undertake massive promotional campaigns. Moreover, China’s wagyu beef jerky market held the largest market share, and the Indian wagyu beef jerky market was the fastest growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the wagyu beef jerky market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, wagyu beef jerky industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global wagyu beef jerky industry to benefit clients and increase the market sector. In recent years, the wagyu beef jerky industry has offered some of the most significant advantages to medicine. Major players in the wagyu beef jerky market are attempting to increase market demand by investing in research and development operations, including Agri Beef Co., Australian Agricultural Co. Ltd., Dolan Foods Inc., GRAND WESTERN, Black Hawk Farms, Blackmore Wagyu, Havel Wagyu GbR, Chicago Steak Co., DEBRAGGA Inc., Holy Grail Steak Co., Lone Mountain Wagyu LLC, WAGYU MASTER Europe GmbH, Stockyard Pty Ltd, and Starzen Co. Ltd.
Situated on 216 acres in South Beloit, Illinois, Blackhawk Farms is a 1.95-mile private circuit racetrack with seven turns. The track is located on the Wisconsin–Illinois border, 90 miles from Chicago and Milwaukee, two significant metropolises, and just minutes from Interstate 90. Numerous regional and national race groups consider the track to be their favorite. Its layout prioritizes safety while enabling clubs and racing organizations to offer the best possible on-track experience.
In 1973, Stockyard Pty Ltd was established. The company's operations include running slaughterhouses and factories that package meat. In order to continuously surpass client expectations, Stockyard aims to deliver the best possible product and customer service. Additionally, Stockyard specializes in producing grain-fed beef, especially premium Angus and Wagyu cuts. Its product is available in countries including Saudi Arabia, Japan, Korea, Kuwait, Jordan, Hong Kong, Singapore, USA, Indonesia, Europe, Taiwan, UAE, Bahrain, Thailand, and Australia, thanks to solid partnerships with exclusive importers, wholesalers, and retailers.
Wagyu Beef Jerky Industry Developments
In 2023, Brooklyn Beef Jerky introduced their Wagyu beef jerky line, highlighting its unique marbling and flavor profile. This product aimed to offer a premium jerky experience with the rich taste of Wagyu beef.
In 2022, The Wagyu Shop launched their new Wagyu beef jerky, which was noted for its high-quality ingredients and artisanal preparation. The jerky was marketed as a luxury snack, emphasizing the superior taste of Wagyu beef.
Wagyu Beef Jerky Market Segmentation
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 2.5 Billion |
| Market Size 2023 | USD 2.66 Billion |
| Market Size 2032 | USD 4.443 Billion |
| Compound Annual Growth Rate (CAGR) | 6.60% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2019-2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Distribution Channel, Product, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Agri Beef Co., Australian Agricultural Co Ltd, Dolan Foods Inc., GRAND WESTERN, Black Hawk Farms, Blackmore Wagyu, Havel Wagyu GbR, Chicago Steak Co., DEBRAGGA Inc., Holy Grail Steak Co., Lone Mountain Wagyu LLC, WAGYU MASTER Europe GmbH, Stockyard Pty Ltd, and Starzen Co. Ltd |
| Key Market Opportunities | Wagyu beef jerky industry premiumization on a worldwide scale |
| Key Market Dynamics | Wagyu beef jerky enhanced health advantages Using an Omni channel distribution approach to boost sales |
Frequently Asked Questions (FAQ) :
The Wagyu Beef Jerky Market size was valued at USD 2.66 Billion in 2023.
The global market is projected to grow at a CAGR of 6.60% during the forecast period, 2024-2032.
North America had the largest share in the global market
The key players in the market are Agri Beef Co., Australian Agricultural Co Ltd, Dolan Foods Inc., GRAND WESTERN, Black Hawk Farms, Blackmore Wagyu, Havel Wagyu GbR, Chicago Steak Co., DEBRAGGA Inc., Holy Grail Steak Co., Lone Mountain Wagyu LLC, WAGYU MASTER Europe GmbH, Stockyard Pty Ltd, and Starzen Co. Ltd.
The Japanese breed category dominated the market in 2023.
The online category had the largest share in the global market.
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