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New product developments and trends of Global Japanese Sake Market during 2019-2024
Global Japanese Sake Market
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Market Insights
Growth Drivers – Japanese Sake Market
Growing Demand of Sake in the United States
In the United States, the demand for Japanese sake is increasing at an alarming rate, due to which Japan’s sake export for the United States has just doubled in the past years. According to Japanese government data, the value of Japan's sake exports expanded 20% in 2017 from a year earlier, which was recorded to be about USD 170 Million, out of which the maximum shipments were made to the United States. Further, the rising popularity of sake in the United States is expected to drive the growth of the Japanese sake market over the forecast period.
Segmentation Analysis
The Japanese sake product type market is segmented into junmai, honjozo, junmai ginjo, and other. In this segment, the global Japanese sake market for honjozo segment will contribute a market share of 14.4% in 2018. Global japanese sake market for honjozo segment was totaled at USD 370.1 Million in 2018 and is predicted to thrive at a CAGR of 2.7% from 2019 to 2024. In terms of volume, the global market for honjozo Japanese sake segment was calculated at 82,922.5 Thousand Liters in 2018.
In the age segment, the Japanese sake market is sub-segmented into 60 Years Old. In this segment,
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