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

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Sake Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Product Type (Ordinary Sake, Junmai, Honjozo, Junmai Ginjo, Ginjo, Junmai Daiginjo); and Range (Premium, Medium, Low)

Publication Month: Sep 2020 | Report Code: TIPRE00011083 | No. of Pages: 135 | Category: Food and Beverages | Status: Published

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.  

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.

Sake Market

Sake Market

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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.

Sake Market, by Application– 2019 and 2027

Sake Market, by Application– 2019 and 2027

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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.

Strategic Insights

Report Coverage - Sake Market
Report CoverageDetails
Market Size Value inUS$ 9,290.16 Million in 2019
Market Size Value byUS$ 13,146.68 Million by 2027
Growth rateCAGR of 4.7% from 2020-2027
Forecast Period2020-2027
Base Year2020
No. of Pages135
No. of Tables58
No. of Charts & Figures75
Historical data availableYes
Segments coveredProduct Type ; and Range
Regional scopeNorth America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country scopeUS, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Report coverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends
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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.

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.

The List of Companies - Sake Market

  • Highlights key business priorities in order to assist companies to realign their business strategies.

  • The key findings and recommendations highlight crucial progressive industry trends in the global sakemarket, thereby allowing players to develop effective long term strategies.

  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.

  • Scrutinize in-depth the market trends and outlook coupled with the factors driving the market, as well as those hindering it.

  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.
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