Market Overview

Global Wasabi Market is usually served as a condiment with sushi or noodles in Japanese cuisines. Popular for its pungent and hot taste, wasabi is obtained by grating stalk or stem of a typical Japanese plant, known as rhizome or Wasabi Japonica. Due to several medicinal properties that wasabi offers, such as anti-inflammatory, antibacterial, and other properties, this condiment is loved across the globe. The vast market prominence that wasabi has garnered over the years is predominantly increasing its market size.

Wasabi can help in countering foodborne illnesses/food poisoning. Its antibacterial effects can fight against H. pylori, a bacterium that infects the stomach & small intestine, that can lead to peptic ulcers which may further cause stomach cancer & inflammation of the stomach lining. Naturally occurring compounds in wasabi are called as ITCs and have been shown to exhibit anti-inflammatory effects and prevent the formation & growth of fat cells.

Major Players

Highly competitive, the wasabi market appears to be fragmented with the presence of several large and small-scale players. Players incorporate strategic initiatives such as mergers & acquisition, innovation, and brand reinforcement to remain competitive in the market. They strive to develop a unique manufacturing process that can not only reduce manufacturing cost but also the downtime and increase the shelf life to the product.

Players leading the global Wasabi Market, include Oregon Coast Wasabi (US), Wingreens Farms Pvt. Ltd. (India), Real Wasabi, LLC (US), Pacific Coast Wasabi Ltd. (US), Kinjirushi CO., Ltd (US), S&B Foods Inc. (Japan), Clearspring Ltd. (US), Eden Foods, Inc. (US), and World Wasabi Inc. (New Zealand), among others.

Industry/ Innovation/ Related News

April 03, 2019 - The H. J. Heinz Company/ Heinz (the US), a leading global food processing company, introduced Kranch Sauce, a new condiment that combines ketchup and ranch. The debut of this mayo-less condiment is bound to be a hit with ranch dressing lovers.

Also, the Kraft Heinz Company, an American food company, which is the merger of Kraft Foods and Heinz, announced its partnership with St. Louis-based restaurant Twisted Ranch to sell five of its ranch dressing flavors nationwide. The sauce varieties, which are produced via this partnership, include Black Pepper Parmesan, Cheesy Smoked Bacon, Garlic Smashed Buffalo, Mango Spiked Habanero, and Honey Dipped Wasabi.

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Regional Analysis

The Asia Pacific region would continue with its dominance over the global wasabi market throughout the forecast period, witnessing the high consumption. Also, higher-level production in countries such as India, China, and Japan, is a key driving force behind the growth of the regional market. Besides, factors such as the increasing popularity and changing lifestyles of people are some of the factors acting as key tailwinds pushing up the growth of the regional market.