DUBLIN--(BUSINESS WIRE)--The "Wasabi Market to 2027 - Global Analysis and Forecasts by Product Type; Packaging Type; Distribution Channel; Application" report has been added to ResearchAndMarkets.com's offering.
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.
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- 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.
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