Global Wasabi Market is valued approximately USD 303.27 Million in 2019 and is anticipated to grow with a healthy growth rate of more than 8.70% over the forecast period 2019-2026. Wasabi is also known as Sushi or Japanese horseradish. It is a plant of the Brassicaceae family. The sushi are of various kinds and the two main cultivars in the marketplace are namely, E. Japonicum Daruma and Mazuma. Its plants caries various health efficient things in it such as carbohydrates, water, and fat. The health benefit of wasabi includes anti-inflammatory properties aids in joints and muscles relief, lowering risk of cancer and heart disease, act as shield against bacterial infections especially in the mouth, and reduces the irritating effects of seasonal allergies. The global breakdown of COVID-19 impacts adversely to the production and import-export of wasabi. As many countries announced lockdown and shut down of various manufacturing industries which results in slower growth of wasabi market. Whereas, increasing prevalence of chronic diseases and commendable role of wasabi in cure or prevention of such diseases due to its favorable health offering is driving the growth of market over the forecast years. For instance: According to the World Health Organization, it is projected that till 2020, chronic disease will accounts for almost three-quarters of all deaths worldwide that includes 71% of deaths due to ischemic heart disease, 75% of death due to stroke and 70% of deaths due to diabetes etc. In addition, rapid growth in food and beverage industries across the globe is the factor creating a lucrative thrust to the growth of market over the forecast years. However, sudden climatic condition may affect the crop and is a factor expected to restraint the growth of the target market to a significant extent.
The regional analysis of global Wasabi market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the rapid growth in chronic diseases across the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2026. Factors such rising demand for wasabi in other economies of the region along with lucrative growth in food and beverage industries would create lucrative growth prospects for the Wasabi market across Asia-Pacific region.
Major market player included in this report are:
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 objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Application offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Application:
Food and Beverage
Medical
Nutraceuticals
By Region:
North America
U.S.
Canada
Europe
UK
Germany
Asia Pacific
China
India
Japan
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017, 2018
Base year – 2019
Forecast period – 2020 to 2026
Target Audience of the Global Wasabi Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
