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

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
  • Category : Food and Beverages
  • Status : Published
  • No. of Pages : 135
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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.

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Sake Market: Strategic Insights

sake-market
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
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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.
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Product Type ; and Range

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Israel, Italy, Japan, Mexico, Nigeria, Russian Federation, South Africa, South Korea, United Arab Emirates, United Kingdom, United States

The List of Companies - Sake Market

  1. BLUE CURRENT BREWERY
  2. GEKKEIKAN SAKE CO., LTD
  3. ARAMASA CO, LTD.
  4. HAKUTSURU SAKE BREWING CO., LTD.
  5. SUN MASAMUNE PTY LIMITED
  6. TATSUUMA-HONKE BREWING CO. LTD.
  7. ASAHISHUZO CO., LTD.
  8. TAKARA SAKE USA INC.
  9. KANPAI LONDON CRAFT SAKE
  10. OZEKI CORPORATION

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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