Wasabi Market Growth, Analysis, and Forecast by 2027

Historic Data: 2016-2017   |   Base Year: 2018   |   Forecast Period: 2019-2027

Wasabi Market to 2027 - Global Analysis and Forecasts by Product Type (Powder, Paste & Sauces, and Others); Packaging Type (Bottles, Tubes, Pouches & Sachets, and Others); Distribution Channel (Store based and Non-Store based); Application (Food & Beverages, Medical, and Nutraceutical)

  • Report Date : Sep 2019
  • Report Code : TIPRE00005910
  • Category : Food and Beverages
  • Status : Published
  • Available Report Formats : pdf-format excel-format
  • No. of Pages : 182

The Wasabi market was valued at US$ 279.7 million in 2018 and is projected to reach US$ 590.8 million by 2027; it is expected to grow at a CAGR of 8.7% from 2019 to 2027.

Wasabi has a distinct flavor that stems from sulfur compounds known as isothiocyanates (ITCs). When plant tissues are injured, ITCs are formed from the precursor glucosinolates (GSLs). Wasabi's ITCs help in the treatment of inflammatory disorders such as anaphylaxis and asthma. As a result, increased awareness of wasabi's qualities is projected to propel the worldwide wasabi market forward in the coming years. In addition, the shifting taste preferences, particularly in the West, are also driving the market. The addition of hot and spicy spices in Western cuisine has inspired food and beverage makers to develop wasabi-containing products. Because of the improved taste and flavor, there is a growing demand for lighter mayonnaises and sauces, including wasabi, because of the enhanced taste and flavor.

The Wasabi market in Asia Pacific is expected to grow at the highest CAGR during the forecast period. The growth of the market in this region is mainly attributed to the rising disposable income, increasing upper middle class, changing lifestyles, and evolving food habits are some of the factors that are anticipated to drive the demand of wasabi based products in Asia Pacific countries. In addition to this, the increasing risks of lifestyle diseases related to cardiovascular, digestive and respiratory systems are leading to increased consumer attention towards the importance of a balanced diet and nutrient rich foods. The temperate and tropical climates in most of the Asia Pacific countries favor the cultivation of a large variety of crops. Hence, the availability of fertile and rich organic soil in many Asian countries presents a significant opportunity for wasabi cultivation.

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Wasabi Market: Strategic Insights

wasabi-market
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Market Insights

Rising Awareness Of Health Benefits Of Wasabi Is Expected to Fuel Wasabi Market Growth

Wasabi is a cruciferous vegetable that naturally grows typically along the streambeds in the mountain river valleys. Some compounds in wasabi, including isothiocyanates (ITCs), are responsible for the pungent flavor of wasabi that is associated with several health benefits such as antibacterial properties, anti-inflammatory properties, might promote fat loss, wasabi for cancer suppression, and other benefits. The growing awareness of these health benefits is supplementing the production of wasabi across the world and is propelling the growth of the market.

Product Type Insights

Based on product type, the wasabi market is bifurcated into powder and paste & sauces. The powder segment accounted for a larger market share in 2018. The wasabi is available in powder form and is freeze-dried, helps in retaining isothiocyanate (ITC) content and contains no additives. The wasabi powder mostly has a longer shelf life. The powder wasabi is relatively less expensive than paste available in a squeeze tube. The wasabi powder is offered in a sealed package; however, in case it is provided in a plastic bag, then it might have lost some flavors. Also, these powders are stored in the freezer to maintain the quality and taste of wasabi. Thus, all are expected to propel the demand for the wasabi during the forecast period.

Packaging Type Insights

Based on packaging type, the wasabi market is segmented into bottles, tubes, pouches & sachets, and others. The bottles segment accounted for the largest market share in 2018. The wasabi in the form of paste, beads, and capsules are offered in a bottle type of packaging. Owing to the highly susceptible nature of sauces, spreads, and soups, a requirement for packaging materials which retains the freshness and quality of a product are rising. The products mentioned above are exposed to oxidation and flavor loss in case of improper packaging; therefore, the manufacturers are reverting to glass jars and bottles from plastic packaging which is expected to increase the market growth.

A few players operating in the wasabi market 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., and Silver Spring Foods, Inc among many others. The key companies implement the mergers and acquisitions, and research and development strategies to expand customer base and gain significant share in the global market, which also allows them to maintain their brand name globally.

Report Spotlights

  • Progressive industry trends in the wasabi market to help players develop effective long-term strategies
  • Business growth strategies adopted by developed and developing markets
  • Quantitative analysis of the wasabi market from 2019 to 2027
  • Estimation of global demand for Wasabi
  • PEST analysis to illustrate the efficacy of buyers and suppliers operating in the industry
  • Recent developments to understand the competitive market scenario
  • Market trends and outlook as well as factors driving and restraining the growth of the wasabi market
  • Assistance in decision-making process by highlighting market strategies that underpin commercial interest, leading to the market growth
  • The size of the wasabi market size at various nodes
  • Detailed overview and segmentation of the market, as well as the wasabi industry dynamics
  • Size of the wasabi market in various regions with promising growth opportunities

Wasabi Market Regional Insights

The regional trends and factors influencing the Wasabi Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Wasabi Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

wasabi-market-global-geography
  • Get the Regional Specific Data for Wasabi Market

Wasabi Market Report Scope

Report Attribute Details
Market size in 2018 US$ 279.7 Million
Market Size by 2027 US$ 590.8 Million
Global CAGR (2018 - 2027) 8.7%
Historical Data 2016-2017
Forecast period 2019-2027
Segments Covered By Product Type
  • Powder
  • Paste & Sauces
By Packaging Type
  • Bottles
  • Tubes
  • Pouches & Sachets
By Distribution Channel
  • Store based and Non-Store based
By Application
  • Food & Beverages
  • Medical
  • Nutraceutical
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • 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.

  • Wasabi Market Players Density: Understanding Its Impact on Business Dynamics

    The Wasabi Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

    Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

    Major Companies operating in the Wasabi Market are:

    1. World Wasabi Inc.
    2. Clearspring Ltd.
    3. Eden Foods
    4. KINJIRUSHI Co., Ltd.
    5. Oregon Coast Wasabi

    Disclaimer: The companies listed above are not ranked in any particular order.


    wasabi-market-cagr

    • Get the Wasabi Market top key players overview

    Wasabi Market- by Product Type

    • Powder
    • Paste & Sauces
    • Others

    Wasabi Market – by Packaging Type

    • Bottles
    • Tubes
    • Pouches and Sachets
    • Others


    Wasabi Market – by Distribution Channel

    • Store based
    • Non-Store based


    Wasabi Market- by Application

    • Food & Beverages
    • Medical
    • Nutraceutical

    Company Profiles

    • 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.
    Shejal Jamdade
    Shejal Jamdade
    Associate Vice President,
    Market Research & Consulting

    With over 12 years of experience in managing custom research projects, Shejal is a seasoned research professional with deep cross-sector expertise spanning Chemicals & Materials, Food & Beverages, Biotechnology, and Consumer Goods. She excels in end-to-end project management, advanced data modelling, and providing strategic support to clients.

    Shejal has successfully led a wide range of high-impact research engagements, consistently guiding clients through complex business challenges and enabling informed decision-making. Her ability to blend analytical rigor with industry knowledge has made her a trusted advisor for clients seeking data-driven strategies and actionable insights. Dedicated to excellence and precision, Shejal continues to play a pivotal role in transforming business objectives into research-driven outcomes.

    • Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
    • PEST and SWOT Analysis
    • Market Size Value / Volume - Global, Regional, Country
    • Industry and Competitive Landscape
    • Excel Dataset

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    Our Clients

    The List of Companies

    1. World Wasabi Inc.
    2. Clearspring Ltd.
    3. Eden Foods
    4. KINJIRUSHI Co., Ltd.
    5. Oregon Coast Wasabi
    6. Real Wasabi, LLC
    7. Wingreens Farms
    8. Wasabi Essentials Ltd.
    9. S&B Foods Inc.
    10. Silver Spring Foods, Inc.
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