The global sake market size was valued at USD 7.35 Billion in 2018 and is projected to reach USD 10.47 Billion by 2026, exhibiting a CAGR of 4.84% in the forecast period
One of the key factors driving the growth of the sake market is the increasing popularity of Japanese cuisine and culture around the world. As more consumers become interested in trying new and exotic foods and beverages, they are turning to sake as a way to experience the unique flavors and traditions of Japan.
In addition to rising consumer demand, the growth of the sake market is also being driven by the increasing availability of premium sake products in international markets. Japanese sake producers are increasingly exporting their products to other countries, and are focusing on promoting the unique characteristics of different varieties of sake to appeal to a wider audience.
Some of the major players in the global sake market include Asahi Group Holdings, Ltd., Gekkeikan Sake Co., Ltd., Takara Holdings Inc., and Ozeki Corporation, among others. These companies are investing in product development and marketing initiatives to expand their market share and appeal to a wider range of consumers.
Here’s a brief analysis of the global sake market:
Market Drivers: The increasing popularity of Japanese cuisine and culture around the world is one of the key drivers of the sake market. As more consumers become interested in trying new and exotic foods and beverages, they are turning to sake as a way to experience the unique flavors and traditions of Japan. Additionally, the increasing availability of premium sake products in international markets is driving market growth.
Market Challenges: One of the major challenges facing the sake market is competition from other alcoholic beverages, such as wine and beer. In addition, the COVID-19 pandemic has impacted the hospitality industry, which is a key market for sake, and has led to a decline in demand for alcoholic beverages.
Market Segmentation: The global sake market can be segmented by type (Junmai, Honjozo, Ginjo, Daiginjo, and others), by distribution channel (off-trade and on-trade), and by region (North America, Europe, Asia Pacific, and Rest of the World).
Key Players: Some of the major players in the global sake market include Asahi Group Holdings, Ltd., Gekkeikan Sake Co., Ltd., Takara Holdings Inc., and Ozeki Corporation, among others. These companies are investing in product development and marketing initiatives to expand their market share and appeal to a wider range of consumers.
Future Outlook: The global sake market is expected to continue growing in the coming years, driven by increasing consumer interest in Japanese cuisine and culture. The growing popularity of premium sake products in international markets is also expected to contribute to market growth. However, the market may face challenges due to competition from other alcoholic beverages and the impact of the COVID-19 pandemic on the hospitality industry.
Sake Market driver
One of the key drivers of the sake market is the increasing popularity of Japanese cuisine and culture around the world. As more consumers become interested in trying new and exotic foods and beverages, they are turning to sake as a way to experience the unique flavors and traditions of Japan.
Japanese cuisine has been gaining popularity around the world, with the rise of sushi, ramen, and other Japanese foods in international markets. As a result, more consumers are becoming familiar with Japanese sake and are interested in trying it. The unique flavor profile and variety of sake types also make it an appealing option for consumers looking to explore new tastes.
In addition, the increasing availability of premium sake products in international markets is also driving market growth. Japanese sake producers are increasingly exporting their products to other countries, and are focusing on promoting the unique characteristics of different varieties of sake to appeal to a wider audience. This has helped to increase consumer awareness of sake and make it more accessible to people outside of Japan.
