The new report by Expert Market Research titled, ‘Global Sake Market Growth, Share, Report and Forecast 2023-2028’, gives an in-depth analysis of the global sake market, assessing the market based on its segments like product types, age groups, distribution channels, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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Sake Market Size, Share, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2023-2028)
• Forecast CAGR (2023-2028): 4.8%
The increasing popularity of sake in international markets is anticipated to drive the growth of the global sake market. Sake has become more and more well-liked over time in countries, like China and the United States. The global sake market is predicted to grow as a result of growing international interest in sake.
The sake market has enormous potential for growth in various Asian, European, and North American regions, where Japanese cuisine is well-liked and eating out at Japanese restaurants is a common occurrence. Promotional initiatives and events are other factors in the expansion of the sake market.
Due to the growing demand for the goods, there are more export activities taking place for it in other nations. This is propelling the growth of the sake market.
Sake Industry Definition and Major Segments
Japanese alcoholic drink called sake is created by allowing rice to ferment for a very long time. The beverage’s starches are first converted into sugar, which is then transformed into alcohol. The drink is generally taken for relaxation and other purposes, and it has a moderate alcohol content.
By product type, the market is segmented into:
• Ordinary Sake
• Junmai Ginjo
Based on age group, the market is classified into:
• 20-40 Years Old
• 40-60 Years Old
• Above 60 Years Old
The several distribution channels of the market are:
• Hypermarkets and Supermarkets
• Speciality Stores
• Online Channels
On the basis of region, the market is segmented into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
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Sake Market Trends
The factors such as the development of sake-infused products and increasing demand for organic products across the globe are estimated to propel the growth of the global sake market.
Other significant factors which play a significant role in driving the sake market are increasing health consciousness amongst the consumers, which increases demands for healthy organic and plant-based products and the focus of various key players on the development of varieties for improvement in taste and quality. In addition, the growing appreciation of Japanese food and culture across the globe might generate significant opportunities for the overall growth of the market.
Key Market Players
The major players in the market are:
- AsahiShuzo Co Ltd.
- Tatsuuma-Honke Brewing Co. Ltd.
- Gekkeikan Sake Co., Ltd
- Hakutsuru Sake Brewing Co., Ltd.
- ARAMASA Shuzo
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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