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Wasabi Market by Application and Geography - Forecast and Analysis 2021-2025

  • Published: Nov 2021
  • Pages: 120
  • SKU: IRTNTR40482
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The wasabi market share is expected to increase by USD 328.78 million from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 10.11%.

This wasabi market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers wasabi market segmentation by application (food and beverages and medical and nutraceuticals) and geography (APAC, North America, Europe, South America, and MEA). The wasabi market report also offers information on several market vendors, including Clearspring Ltd., Connors Greens LLC , Eden Foods Inc., Health Logics Laboratories Inc., KINJIRUSHI Co. Ltd., Oregon Coast Wasabi, Pacific Coast Wasabi Ltd., Real Wasabi LLC, S and B Foods Inc., and The Wasabi Co. among others.

What will the Wasabi Market Size be During the Forecast Period?

Wasabi Market Size

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Wasabi Market: Key Drivers and Trends

Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The rising awareness about the health benefits of wasabi is notably driving the wasabi sauce market growth, although factors such as side effects of wasabi may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the wasabi industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Wasabi Market Driver

One of the key factors driving growth in the wasabi market is the rising awareness about the health benefits of wasabi. Several types of research and studies have been conducted on wasabi to understand its medicinal benefits. An increasing number of people across the world have started using wasabi and wasabi extracts in food preparations such as soups and noodles because of their anti-microbial and anti-inflammatory effects. The strong peppery smell of wasabi is attributed to the presence of high levels of allyl isothiocyanate and several other isothiocyanate compounds. These isothiocyanate chemicals have several health benefits, such as cancer prevention, protecting the heart, treating arthritis, killing harmful food-borne bacteria, treating respiratory conditions, and improving gut health. Due to all these health benefits, wasabi is used in the medical and nutraceutical industries.

Key Wasabi Market Challenge

The side effects of wasabi will be a major challenge for the wasabi market during the forecast period. Wasabi is sought after for its pungent flavor and health benefits, but it is not palatable for everyone, especially people with digestive and respiratory problems. Wasabi contains some compounds that make it spicy. Therefore, the consumption of wasabi may lead to side effects on the digestive and respiratory systems and can affect the blood coagulation process. These side effects may restrict the growth of the global wasabi market. Some of the major side effects of wasabi include gastritis issues, severe damage to the liver, and slow blood coagulation making it bad for hemorrhoids.

This wasabi market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Who are the Major Wasabi Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • Clearspring Ltd.
  • Connors Greens LLC 
  • Eden Foods Inc.
  • Health Logics Laboratories Inc.
  • KINJIRUSHI Co. Ltd.
  • Oregon Coast Wasabi
  • Pacific Coast Wasabi Ltd.  
  • Real Wasabi LLC
  • S and B Foods Inc.
  • The Wasabi Co.

 

This statistical study of the wasabi market encompasses successful business strategies deployed by the key vendors. The wasabi sauce market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The wasabi market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Wasabi Market?

Wasabi Market Market segmentation by region

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73% of the market's growth will originate from APAC during the forecast period. Japan, China, and South Korea (Republic of Korea) are the key markets for wasabi in APAC. Market growth in APAC will be faster than the growth of the market in other regions.

The rising disposable income of consumers and the strong economic growth of countries such as India and China will facilitate the wasabi market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Application Segments in the Wasabi Market?

Wasabi Market Segmentation

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The wasabi market share growth by the food and beverages segment will be significant during the forecast period. Wasabi has recently become available in the nutraceutical industry in capsule forms. It effectively reduces the microbial counts of many bacteria in foodborne illnesses such as E. coli, Salmonella typhimurium, and others. This will be a key driver for this segment. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the wasabi sauce market size and actionable market insights on post COVID-19 impact on each segment.

 

Wasabi Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 10.11%

Market growth 2021-2025

$ 328.78 million

Market structure

Fragmented

YoY growth (%)

10.44

Regional analysis

APAC, North America, Europe, South America, and MEA

Performing market contribution

APAC at 73%

Key consumer countries

Japan, US, China, UK, and South Korea (Republic of Korea)

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Clearspring Ltd., Connors Greens LLC, Eden Foods Inc., Health Logics Laboratories Inc., KINJIRUSHI Co. Ltd., Oregon Coast Wasabi, Pacific Coast Wasabi Ltd., Real Wasabi LLC, S and B Foods Inc., and The Wasabi Co.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

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What are the Key Data Covered in this Wasabi Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive wasabi market growth during the next five years
  • Precise estimation of the wasabi market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the wasabi industry across APAC, North America, Europe, South America, and MEA
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of wasabi market vendors

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2020
    • Market outlook: Forecast for 2020 - 2025

    Five Forces Analysis

    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Application

    • Market segments
    • Comparison by Application
    • Food and beverages - Market size and forecast 2020-2025
    • Medical and nutraceuticals - Market size and forecast 2020-2025
    • Market opportunity by Application

    Customer landscape

      Geographic Landscape

      • Geographic segmentation
      • Geographic comparison
      • APAC - Market size and forecast 2020-2025
      • North America - Market size and forecast 2020-2025
      • Europe - Market size and forecast 2020-2025
      • South America - Market size and forecast 2020-2025
      • MEA - Market size and forecast 2020-2025
      • Key leading countries
      • Market opportunity by geography
      • Market drivers
      • Market challenges
      • Market trends

      Vendor Landscape

      • Overview
      • Landscape disruption

      Vendor Analysis

      • Vendors covered
      • Market positioning of vendors
      • Clearspring Ltd.
      • Connors Greens LLC 
      • Eden Foods Inc.
      • Health Logics Laboratories Inc.
      • KINJIRUSHI Co. Ltd.
      • Oregon Coast Wasabi
      • Pacific Coast Wasabi Ltd.  
      • Real Wasabi LLC
      • S and B Foods Inc.
      • The Wasabi Co.

      Appendix

      • Scope of the report
      • Currency conversion rates for US$
      • Research methodology
      • List of abbreviations

      Research Framework

      Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

      TechnavioINFORMATION SOURCES

      Primary sources

      • Manufacturers and suppliers
      • Channel partners
      • Industry experts
      • Strategic decision makers

      Secondary sources

      • Industry journals and periodicals
      • Government data
      • Financial reports of key industry players
      • Historical data
      • Press releases
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      TechnavioDATA ANALYSIS

      Data Synthesis

      • Collation of data
      • Estimation of key figures
      • Analysis of derived insights

      Data Validation

      • Triangulation with data models
      • Reference against proprietary databases
      • Corroboration with industry experts
      Technavio

      TechnavioREPORT WRITING

      Qualitative

      • Market drivers
      • Market challenges
      • Market trends
      • Five forces analysis

      Quantitative

      • Market size and forecast
      • Market segmentation
      • Geographical insights
      • Competitive landscape
      Interested in this report?
      Get your sample now!
      Wasabi market growth will increase by $328.78 million during 2020-2025.
      The wasabi market is expected to grow at a CAGR of 10.11% during 2020-2025.
      Technavio has segmented the wasabi market by application (Food and beverages and Medical and nutraceuticals) and geographic (APAC, North America, Europe, South America, and MEA).
      Clearspring Ltd., Connors Greens LLC , Eden Foods Inc., Health Logics Laboratories Inc., KINJIRUSHI Co. Ltd., Oregon Coast Wasabi, Pacific Coast Wasabi Ltd.  , Real Wasabi LLC, S and B Foods Inc., The Wasabi Co. are a few of the key vendors in the wasabi market.
      APAC will register the highest growth rate of 73.20% among the other regions. Therefore, the wasabi market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
      • Japan
      • US
      • China
      • UK
      • South Korea (Republic of Korea)
      The key factors driving the wasabi market growth are:
      • Rising awareness about health benefits of wasabi
      • Increasing use of natural gas in the transportation sector
      The wasabi market vendors should focus on grabbing business opportunities from the food and beverages segment as it accounted for the largest market share in the base year.
      • What are the key global market and the regional market share?
      • What are the revenue-generating key market segments?
      • What are the key factors driving and challenging this market’s growth?
      • Who are the key market vendors and their growth strategies?
      • What are the latest trends influencing the growth of this market?
      • What are the variables influencing the market growth in the primary regions?
      • What are the factors influencing the growth of the parent market?
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      • Covid-19 impact and recovery analysis
      • Data on revenue-generating market segments
      • Details on the market shares of various regions
      • Five-force market analysis

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