News Summary

• The firm projects that the Wagyu beef market's compound annual growth rate (CAGR) will be around 7.04%, bringing in over $3.59 billion in value from 2022 to 2027.According to the report, the Wagyu beef market is growing due to an increase in production and trade..
• The Wagyu beef market is expected to grow by $3.59 billion by 2027, a market research firm predicts.The research report, which was compiled by Technavio, was released on Friday..
• "However, factors such as the premium price of Wagyu beef may impede market growth," Technavio said in a press release..
• "The increased consumption of Wagyu beef in countries such as Japan has primarily contributed to the APAC regional market," the press release explained..
• "The main driver for the regional market is also a large volume of Wagyu beef trade..
• (Gina Ferazzi / Los Angeles Times via Getty Images / Getty Images)The Asia-Pacific region is expected to contribute to 74% of the market's growth during the forecast period..