Sake Market to Grow at a CAGR of 4.7% to reach US$13,146.68 million from 2020 to 2027

The sake market was valued at US$ 9,290.16 million in 2019 and is projected to reach US$ 13,146.68 million by 2027; it is expected to grow at a CAGR of 4.7% from 2020 to 2027.

Sake is a Japanese alcoholic beverage that is made from fermented rice and is referred to as a rice wine. Sake is generally brewed using polished sake mai rice, a mold known as Aspergillus oryzae, water, and yeast. Fine sakes are aged for more than a year and most of the variations have an alcohol by volume content of between 15% and 20%.

The sake market in North America is expected to grow at the highest CAGR during the forecast period. The growth of the sake market in this region is mainly attributed to the rising consumption of alcoholic beverages in North America. The growing demand for alcoholic beverages including sake, has been catered by the rise in the number of breweries and distilleries in the region. The rising demand for sake in North America has attracted the manufacturers to establish their presence in the region, which has further fueled the growth of the sake market in North America. The presence of established companies such as Takara Sake USA Inc., Gekkeikan Sake, and Ozeki Sake are providing growth opportunities for the sake market in North America.  

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Sake Market: Strategic Insights

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Impact of COVID-19 Pandemic on Sake Market

The COVID-19 outbreak adversely affects economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Food and beverages are among the significant industries suffering from severe disruptions such as restrictions on the supply chain and shutdown of production plants. The shutdown of different plants and factories in various countries disrupts the global supply chains and negatively impacts the manufacturing activities, delivery schedules, and multiple goods sales. The COVID pandemic initially disrupted the demand for alcohol due to the shutdown of restaurants, food service providers, liquor shops, hotels, and bars which had a negative impact on the sake market. The shutdown of the local shops and pubs has generated opportunities for the online service providers which has steadied the demand for alcoholic beverages in the period of pandemic which has had a positive impact on the sake market. Thus, initially COVID 19 had a negative impact on the sake market but slowly and steadily as the demand for alcohol increased, leading to an increased demand for sake.

Market Insights

Increase in Export of Sake

The decrease in demand of sake in Japan as well as in Asia Pacific countries has led to an increase in export of sake. Due to the high consumption of alcohol along with a high inclination of people towards traditional styled drinks in the US has led to an increase in export of sake to the US. The increasing growth in the number of Japanese restaurants across region such as Europe, North America has led to an increase in demand for sake. The high appreciation as well as a rising trend of pairing cuisine varieties with sake is leading to an increase in export of sake to various countries.

Product Type Insights

Based on product type, the sake market is bifurcated into Ordinary Sake, Junmai, Honjozo, Junmai Ginjo, Ginjo, and Junmai Daiginjo. The ordinary sake segment accounted for the largest share of the market in 2019; whereas, the Junmai sake segment is expected to register the highest CAGR during 2020–2027. Ordinary sake is also called Futsū-shu which is an equivalent of a table wine and also accounts for the majority of the sake produced. According to Takara Sake, ordinary sake comprises of approximately two-thirds of the worldwide sake production having a mild tase and body with a subdued sweet palate and little-to-no acidity. The rice that is used to make the ordinary sake is most polished to 70% and may or may not contain added brewer’s alcohol.

Range Insights

Based on range, the sake market is segmented into premium, medium, and low. The low segment accounted for the largest share in market in 2019, and the premium segment is expected to register the fastest CAGR during 2020–2027. The low-price range segment of sake is brewed for obtaining maximum yield and value as well as using cheaper rice grade which are mostly polished under 30%. Most of the sake that is produced lies under the low range segment.

A few players operating in the sake market are Aramasa Co, Ltd.; Asahishuzo CO., Ltd.; Blue Current Brewery; Gekkeikan Sake Co., Ltd; Hakutsuru Sake Brewing Co., Ltd; Kanpai London; Craft Sake; Ozeki Corporation; Sun Masamune Pty Limited; Takara Sake USA Inc.; Tatsuuma-Honke Brewing Co. Ltd. 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.

Sake Market Regional Insights

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

Sake Market Report Scope

Sake Market Players Density: Understanding Its Impact on Business Dynamics

The Sake Market 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 Sake Market are:

1. BLUE CURRENT BREWERY
2. GEKKEIKAN SAKE CO., LTD
3. ARAMASA CO, LTD.
4. HAKUTSURU SAKE BREWING CO., LTD.
5. SUN MASAMUNE PTY LIMITED

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

Report Spotlights 

• Progressive industry trends in the global sake market to help players develop effective long-term strategies
• Business growth strategies adopted by developed and developing markets
• Quantitative analysis of the global sake market from 2017 to 2027
• Estimation of global sake demand across various industries
• PEST analysis to illustrate the efficacy of buyers and suppliers operating in the industry
• Recent developments to understand the competitive market scenario and global sake demand
• Market trends and outlook as well as factors driving and restraining the growth of the global sake market
• Decision-making process by understanding strategies that underpin commercial interest with regard to the market growth.

• Global sake market size at various nodes of market
• Detailed overview and segmentation of the global sake market, as well as its industry dynamics
• Global sake market size in various regions with promising growth opportunities

Sake Market- by Product Type

• Ordinary Sake
• Junmai
• Honjozo
• Junmai Ginjo
• Ginjo
• Junmai Daiginjo

Sake Market- by Range

• Premium
• Medium
• Low

Company Profiles

• Aramasa Co, Ltd.;
• Asahishuzo CO., Ltd.
• Blue Current Brewery
• Gekkeikan Sake Co., Ltd
• Hakutsuru Sake Brewing Co., Ltd
• Kanpai London Craft Sake
• Ozeki Corporation
• Sun Masamune Pty Limited
• Takara Sake USA Inc.
• Tatsuuma-Honke Brewing Co. Ltd.