Global Sake Market Size 2024, Forecast To 2033
11 Mar, 2024
The sake market has exhibited strong growth, climbing from $9.28 billion in 2023 to $9.76 billion in 2024, reflecting a compound annual growth rate (CAGR) of 5.1%. The growth in the historic period is attributed to robust economic growth in emerging markets, the expansion of online sales platforms, and increasing consumer preferences for beverages. Envisioning strong growth in the forthcoming years, the market is projected to reach $12.02 billion in 2028, with a CAGR of 5.4%. The anticipated growth is linked to changes in health-conscious consumers and lifestyles, a growing interest in Japanese culture and cuisine, and increasing government support. Key trends in this period include the development of innovative products to meet the demand for sustainability, a reduction in environmental impact, increased investments to enhance production capacity and maintain market position, the application of advanced technologies to provide reliable products, and the launch of sake brewing projects for the sake industry.
Global Sake Market Key Driver
The sake market is set to grow, propelled by the high demand for sake from various countries. Sake, a Japanese alcohol brewed from polished rice, has gained popularity globally due to factors like increased awareness of its health benefits, including metabolic stimulation, blood pressure reduction, and cholesterol control. In March 2022, the National Tax Agency reported a 66.4% increase in the export value of sake to approximately $302 million (JPY 40.2 billion) in 2021. Additionally, the Japan Sake and Shochu Makers Association noted a year-over-year increase of 102.9% in the total volume of sake exports to the USA, reaching about 9,084 KL, and a 137.8% increase in exports to China, amounting to ($10.89 billion) JPY 14.16 billion. Therefore, the high demand for sake from various countries becomes a driving force for the growth of the sake market, with market sizes in 2023, 2024, and 2028 playing a crucial role in shaping its trajectory.
Get A Free Sample Of The Global Sake Market ReportGlobal Sake Market Segments
The sake market covered in this report is segmented –
1) By Type: Ordinary sake, Junmai, Honjozo, Junmai Ginjo, Ginjo, Junmai Daiginjo
2) By Age Group: 20-40 Years Old, 40-60 Years Old, Above 60 Years Old
3) By Range: Premium, Medium, Low
4) By Application: Commercial Use, Home Use
By Geography:The regions covered in the sake market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
North America was the largest region in the sake market in 2023. The regions covered in the sake market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Sake Industry Players
Gekkeikan Sake Co Ltd, Takara Holdings Inc, Tatsuuma-Honke Brewing Co. Ltd, SakeOne, Ozeki Sake,Asahishuzo CO. Ltd. (Dassai), Homare Sake Brewery Co. Ltd., Hananomai Brewing Co. Ltd., Shiragiku Shuzo Co. Ltd., Blue Current Brewery, Hakkaisan Brewery, Dewazakura Sake Brewery, Tatenokawa, Kokuryu Brewery, Beijing Shipuller Co, Dojima Sake Brewery, Daisekkei Sake Brewing Co.,Ltd, Tosatsuru Sake Brewing Co.,Ltd, Sohomare Sake Brewery Co.,Ltd, HASHIMOTO INDUSTRY Co. Ltd., Azuma Kirin, NØGNE, Les Larmes du Levant, Wakaze Saké, European Drinks S.A, AMBRA Group, Zaklady Tluszczowe Kruszwica,, Setting Sun Sake Brewing Company, Ontario Spring Water Sake Company, Bruce Ashley Group, Artisan SakeMaker, YK3 Sake Producer, Aurora, Ikigai-shu, Shaoxing Rice Wine Dubai, Matsuse Sake Brewery Co, Ltd
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Sake Market Overview
Sake is a Japanese alcoholic beverage made from fermented rice. It is a light-colored sweet noncarbonated drink with about 14 to 16 percent alcohol. The main ingredients of sake are rice from particular strains finely processed to remove the outer layers, shrinking the grain to between 50% and 70% of its original size, water, and koji or Aspergillus oryzae fungus that converts the rice starch to fermentable sugars.
Sake Global Market Report 2023 provides data on the global sake market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The sake market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.