Global Wasabi Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028

"Global Wasabi Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global wasabi market report has been segmented on basis of application, and region.

Global Wasabi Market: Overview

Wasabi is also known as Japanese horseradish or sushi, is a plant of the Brassicaceae family. The plant is mostly founded grown naturally along stream beds in mountain river valleys in Japan. There are many different variety of sushi and the two main cultivars in the marketplace are namely, E. japonicum Daruma and Mazuma. The whole plant is used to serve various purposes in food and beverages sector. Leaves of wasabi can be eaten directly and have spicy flavour. Wasabi is normally consumed in very small quantities and the major constituents are carbohydrates, water, and fat. The health benefits of wasabi include helps in lowering risk of cancer and heart disease, anti-inflammatory properties aids in joints and muscles relief, act as shield against bacterial infections especially in the mouth, and reduces the irritating effects of seasonal allergies. Wasabi have a strong, spicy taste, different from the taste of capsaicin.

Global Wasabi Market: Dynamics

Increasing demand of wasabi from Japanese cuisine is a major factor expected to drive growth revenue in the global market over the next 10 years. In addition, increasing awareness about various health benefits of wasabi, rising demand for nutritious foods, higher adoption of wasabi as flavouring agent, dressings of salads, cheese, mustards, and potato chips are among some of the other factors expected to drive the growth of the global wasabi market. Furthermore, increasing customer inclination towards unique taste and flavour of wasabi, rising per capita income, and rapidly growing food and beverages sector are some other factors expected to boost the demand for wasabi in various applications. 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.

Global Wasabi Market: Segment Analysis

Among the application segments, the food and beverages segment is projected to register a higher growth in terms of revenue in the global market and is expected to maintain its dominance over the forecast period. This is due to, growing food and beverages expenditure of people around the world and increasing demand for multi-cuisine food worldwide.  The nutraceutical and medical segment is expected to register a significant market share, owing to increasing awareness regarding the medical and health benefits of wasabi.

Global Wasabi Market: Trends and Opportunities

Various research and development activities are carried out in order to develop alternatives flavour with low sugar content that can be consumed by patients suffering from chronic diseases such as diabetes, obesity, etc. In addition, major key players are focusing on mergers & acquisitions, joint ventures, and expansion of plants and facilities to provide biotech chemicals for various applications, and in order to strengthen market presence and create revenue growth opportunities.

Ongoing trend witnessed in the target market is giant commercial food chain restaurants such as McDonald’s or Starbucks are demanding for– wasabi– one of the cuisine’s key ingredients, owing to increasing consumer demand for multi cousin’s food products.

Global Wasabi Market: Region Analysis

The market in Asia Pacific is projected to register for highest revenue share in the global market, followed by the market in North America and Europe. This is due to, growing food and beverage industry is a key factor driving the growth of target market in countries in this region. In addition, growing popularity of Asian food in western cultures is expected to drive the growth of the global wasabi market over the forecoming years.

Global Wasabi Market Segmentation

Segmentation by application:

• Food and Beverages
• Medical
• Nutraceuticals

Segmentation by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa