{"id":6916,"date":"2023-05-12T11:35:50","date_gmt":"2023-05-12T16:35:50","guid":{"rendered":"https:\/\/danilodiaz-granados.com\/?p=6916"},"modified":"2023-06-21T11:38:29","modified_gmt":"2023-06-21T16:38:29","slug":"high-steaks-wagyu-beef-market-continues-to-grow","status":"publish","type":"post","link":"https:\/\/danilodiaz-granados.com\/en\/high-steaks-wagyu-beef-market-continues-to-grow\/","title":{"rendered":"High steaks: Wagyu beef market continues to grow"},"content":{"rendered":"

Wagyu beef is growing in popularity and there are few signs of it slowing. In 2021, the global Wagyu market was worth more than\u00a0$11 billion<\/a>. This was a banner year as Japan\u00a0exported around 8,000 tons<\/a>\u00a0of the gourmet beef cut. Now, the global market is expected to grow by a compound annual growth rate of 6 percent\u2013making it worth an estimated $16 billion by 2028.<\/p>\n

The food industry is being impacted by inflation, supply chain issues, and climate change, but Wagyu appears to be weathering the storm. From steak to high-priced burgers, the revered protein is becoming more commonly consumed. Here are the factors driving Wagyu\u2019s popularity:<\/p>\n

The luxury hospitality sector<\/strong><\/p>\n

Known for its tenderness and buttery, umami flavor, Wagyu has been a fine-dining favorite since the 2010s\u2013when Japan\u00a0lifted its export ban<\/a>\u00a0to the United States and European countries. Luxury establishments like restaurants and hotels are still fueling the Wagyu beef market today.<\/p>\n

While some lucky customers can find Wagyu in high-end grocery and specialty stores, the market is sustained by a business-to-business model\u2013particularly with fine dining<\/a>. A large majority,\u00a085 percent<\/a>, of Wagyu sales are B2B. As a testament to the importance of B2B commerce, it\u2019s not uncommon for a Wagyu brand to partner with luxury hotels and restaurants in major cities.<\/p>\n

The changing consumer<\/strong><\/p>\n

Although Wagyu is linked to luxury (due to its marbling, high price, and costs associated with breeding and raising cattle), it\u2019s becoming a favorite across income levels. Wagyu is growing into a household name as its lure, flavor, and health benefits become more widely known.<\/p>\n

Today\u2019s consumers<\/a>\u00a0are more health conscious and have more disposable income, which is proving to be a winning combination for the Wagyu beef market. Regardless of inflation, customers are willing to spend more on quality products, like premium meats. A recent study showed\u00a085 percent<\/a>\u00a0of those who consume meat considered health benefits, animal treatment, sustainability, or social responsibility when buying meat products\u2013despite currently high prices.<\/p>\n

As Daniel Levine, director at Avant Guide Institute told the\u00a0Food Institute<\/a>, \u201cThe popularity of Wagyu will continue to grow in the next few years due to a powerful one-two punch of rising palates and fatter wallets.\u201d<\/p>\n

The growing availability<\/strong><\/p>\n

Given Wagyu\u2019s Japanese origin, it\u2019s become synonymous with the Asian island. (In fact, \u201cwagyu\u201d translates to \u201cJapanese cow.\u201d) Thanks to a\u00a0push by the Japanese government<\/a>, this premium beef cut is now enjoyed globally.<\/p>\n

While Japan and the rest of the Asian-Pacific region are still the home of Wagyu, accounting for\u00a077 percent<\/a>\u00a0of its forecasted growth through 2026, other countries are raising homegrown luxury cattle.<\/p>\n

In the United States,\u00a0ranchers are cross-breeding<\/a>\u00a0to give consumers a similar-tasting, lower-priced premium cut. Some fine-dining restaurant groups have also\u00a0raised their own Wagyu breeds<\/a>\u00a0to stand out from other establishments while serving their quality-conscious guests. Japanese breeds continue to dominate the market, but the crossbreed sector is expected to grow substantially in the next\u00a0five years<\/a>.<\/p>\n

As Wagyu seeps from the high-end dining world into the mainstream, the food industry has the opportunity to capture new consumers. Ironically the\u00a0high price of Wagyu<\/a>, which is around three times more expensive than other beef types, might be one of its challenges with expansion. However, with breeding innovations and more consumers willing to spend top dollar for top-tier products, expect to see Wagyu emerge as the next premium food trend.<\/p>\n","protected":false},"excerpt":{"rendered":"

Wagyu beef is growing in popularity and there are few signs of it slowing. In 2021, the global Wagyu market was worth more than\u00a0$11 billion. This was a banner year as Japan\u00a0exported around 8,000 tons\u00a0of the gourmet beef cut. Now, the global market is expected to grow by a compound annual growth rate of 6 percent\u2013making it worth an estimated $16 billion by 2028. The food industry is being impacted by inflation, supply chain issues, and climate change, but Wagyu appears to be weathering the storm. From steak to high-priced burgers, the revered protein is becoming more commonly consumed. Here are the factors driving Wagyu\u2019s popularity: The luxury hospitality sector Known for its tenderness and buttery, umami flavor, Wagyu has been a fine-dining favorite since the 2010s\u2013when Japan\u00a0lifted its export ban\u00a0to the United States and European countries. Luxury establishments like restaurants and hotels are still fueling the Wagyu beef market today. While some lucky customers can find Wagyu in high-end grocery and specialty stores, the market is sustained by a business-to-business model\u2013particularly with fine dining. A large majority,\u00a085 percent, of Wagyu sales are B2B. As a testament to the importance of B2B commerce, it\u2019s not uncommon for a Wagyu brand […]<\/p>\n","protected":false},"author":7,"featured_media":6917,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"inline_featured_image":false,"_monsterinsights_skip_tracking":false,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[224],"tags":[823,805,746,654,792,824],"class_list":["post-6916","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-beef","tag-danilo-diazganados","tag-fine-dining","tag-food-industry","tag-restaurant-industry","tag-wagyu-en"],"yoast_head":"\nHigh steaks: Wagyu beef market continues to grow - Danilo D\u00edazgranados Manglano<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/danilodiaz-granados.com\/en\/high-steaks-wagyu-beef-market-continues-to-grow\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"High steaks: Wagyu beef market continues to grow - Danilo D\u00edazgranados Manglano\" \/>\n<meta property=\"og:description\" content=\"Wagyu beef is growing in popularity and there are few signs of it slowing. In 2021, the global Wagyu market was worth more than\u00a0$11 billion. This was a banner year as Japan\u00a0exported around 8,000 tons\u00a0of the gourmet beef cut. Now, the global market is expected to grow by a compound annual growth rate of 6 percent\u2013making it worth an estimated $16 billion by 2028. The food industry is being impacted by inflation, supply chain issues, and climate change, but Wagyu appears to be weathering the storm. From steak to high-priced burgers, the revered protein is becoming more commonly consumed. Here are the factors driving Wagyu\u2019s popularity: The luxury hospitality sector Known for its tenderness and buttery, umami flavor, Wagyu has been a fine-dining favorite since the 2010s\u2013when Japan\u00a0lifted its export ban\u00a0to the United States and European countries. Luxury establishments like restaurants and hotels are still fueling the Wagyu beef market today. While some lucky customers can find Wagyu in high-end grocery and specialty stores, the market is sustained by a business-to-business model\u2013particularly with fine dining. A large majority,\u00a085 percent, of Wagyu sales are B2B. As a testament to the importance of B2B commerce, it\u2019s not uncommon for a Wagyu brand […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/danilodiaz-granados.com\/en\/high-steaks-wagyu-beef-market-continues-to-grow\/\" \/>\n<meta property=\"og:site_name\" content=\"Danilo D\u00edazgranados Manglano\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-12T16:35:50+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-06-21T16:38:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/danilodiaz-granados.com\/wp-content\/uploads\/2023\/06\/1_ujONJ-p9k69Mszt4MIJ1AA-1.webp\" \/>\n\t<meta property=\"og:image:width\" content=\"1100\" \/>\n\t<meta property=\"og:image:height\" content=\"733\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/webp\" \/>\n<meta name=\"author\" content=\"Danilo Diazgranados\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Danilo Diazgranados\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/danilodiaz-granados.com\\\/en\\\/high-steaks-wagyu-beef-market-continues-to-grow\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/danilodiaz-granados.com\\\/en\\\/high-steaks-wagyu-beef-market-continues-to-grow\\\/\"},\"author\":{\"name\":\"Danilo Diazgranados\",\"@id\":\"https:\\\/\\\/danilodiaz-granados.com\\\/en\\\/#\\\/schema\\\/person\\\/39af1122d5562bece5428f56fd21909a\"},\"headline\":\"High steaks: Wagyu beef market continues to grow\",\"datePublished\":\"2023-05-12T16:35:50+00:00\",\"dateModified\":\"2023-06-21T16:38:29+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/danilodiaz-granados.com\\\/en\\\/high-steaks-wagyu-beef-market-continues-to-grow\\\/\"},\"wordCount\":576,\"publisher\":{\"@id\":\"https:\\\/\\\/danilodiaz-granados.com\\\/en\\\/#\\\/schema\\\/person\\\/39af1122d5562bece5428f56fd21909a\"},\"image\":{\"@id\":\"https:\\\/\\\/danilodiaz-granados.com\\\/en\\\/high-steaks-wagyu-beef-market-continues-to-grow\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/danilodiaz-granados.com\\\/wp-content\\\/uploads\\\/2023\\\/06\\\/1_ujONJ-p9k69Mszt4MIJ1AA-1.webp\",\"keywords\":[\"Beef\",\"Danilo D\u00edazganados\",\"Fine Dining\",\"food industry\",\"Restaurant Industry\",\"Wagyu\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/danilodiaz-granados.com\\\/en\\\/high-steaks-wagyu-beef-market-continues-to-grow\\\/\",\"url\":\"https:\\\/\\\/danilodiaz-granados.com\\\/en\\\/high-steaks-wagyu-beef-market-continues-to-grow\\\/\",\"name\":\"High steaks: Wagyu beef market continues to grow - 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In 2021, the global Wagyu market was worth more than\u00a0$11 billion. This was a banner year as Japan\u00a0exported around 8,000 tons\u00a0of the gourmet beef cut. Now, the global market is expected to grow by a compound annual growth rate of 6 percent\u2013making it worth an estimated $16 billion by 2028. The food industry is being impacted by inflation, supply chain issues, and climate change, but Wagyu appears to be weathering the storm. From steak to high-priced burgers, the revered protein is becoming more commonly consumed. Here are the factors driving Wagyu\u2019s popularity: The luxury hospitality sector Known for its tenderness and buttery, umami flavor, Wagyu has been a fine-dining favorite since the 2010s\u2013when Japan\u00a0lifted its export ban\u00a0to the United States and European countries. Luxury establishments like restaurants and hotels are still fueling the Wagyu beef market today. 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