Market Research Future (Food and Beverages) Wasabi Market Research Report | Page 3

Wasabi Market Research Report - Forecast till 2024
2 Market Overview
The processed food industry is growing worldwide due to changing consumer preferences and increasing purchasing
power. The growing influence of social media has led to consumers becoming more aware of the different cuisines
around the world. A variety of wasabi products with different characteristics and forms have been introduced by
companies to cater to the demand for enhanced flavor and texture. This is expected to drive the demand for wasabi
across the world.
The global wasabi market has been segmented by product type, packaging type, distribution channel, and region.
Based on product type, the global wasabi market has been segmented into powder, paste and sauces, and others.
The paste segment is projected to be the largest during the forecast period. The taste of wasabi is hot and pungent.
However, it is different from chilies, and the hotness of wasabi dissipates in the mouth, with a mild aftertaste. Wasabi
paste is used as an accompaniment to various Japanese dishes such as sushi and sashimi and is also used in
cocktails. The segment is also expected to register the highest growth rate during the review period owing to the
increasing popularity of Japanese cuisine across the globe.
Regional Analysis:
The global wasabi market has been segmented, on the basis of region, into North America, Europe, Asia-Pacific,
and the rest of the world.
Asia-Pacific is expected to dominate the global wasabi market owing to the high consumption of wasabi products in
the countries of the region. Wasabi is used in various cuisines to enhance taste, flavor, and appeal.
The market in North America is expected to be the fastest-growing due to the expanding food & beverage industry
and changing consumer eating patterns in the region.
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