Sake Market Size, Driving Growth, Rising Demand, Innovative Product Development And Forecast Report by 2033

The sake market size has grown strongly in recent years. It will grow from $9.28 billion in 2023 to $9.76 billion in 2024 at a compound annual growth rate (CAGR) of 5.1%. The growth in the historic period can be attributed to strong economic growth in emerging markets, expansion of online sales platforms and increasing consumer preference for beverages.

The sake market size is expected to see strong growth in the next few years. It will grow to $12.02 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%. The growth in the forecast period can be attributed to changes in health-conscious consumers and lifestyles, growing interest in japanese culture and cuisine and increasing government support. Major trends in the forecast period include evelop innovative products to meet the growing demand for sustainable products and reduce their environmental impact, focus on investments to increase production capacity and to sustain their position in the market, focus on advanced technologies to provide reliable products to their customers and strengthen their position in the market, focus on launching sake brewing projects for the sake industry.

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.

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Global Expansion And Rising Demand Driving Growth In The Sake Market
High demand for sake from several countries is expected to propel the growth of the sake market going forward. Sake refers to the Japanese alcohol brewed from different polished rice. In recent times, Japan's local drink has gained interest from various countries such as the USA, due to various factors such as increased awareness of sake's health benefits, which include stimulating blood alcohol metabolism, subduing blood pressure, and reducing cholesterol and blood triglycerides. For instance, in March 2022, according to the National Tax Agency, a Japan-based tax-collecting organization, in 2021, the export value of sake was around $302 million (JPY 40.2 billion), a rise of 66.4% from the previous year. Furthermore, according to the Japan Sake and Shochu Makers Association, a Japan-based association, the total volume of sake export in the USA was about 9,084 KL (kiloliter), a year-over-year increase of 102.9%, and in China was approximately ($10.89 billion) JPY 14.16 billion (137.8% increase year-over-year). Therefore, the high demand for sake from several countries drives the growth of the sake market.

Competitive Landscape -
Major companies operating in the sake market report are 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

Innovative Product Development Driving Growth In The Sake Market
Product innovations are a key trend gaining popularity in the sake market. Major companies in the sake market are focused on developing innovative products to strengthen their market position in the market. For instance, in December 2022, Fukuju Brewery, a Japan-based sake producer, launched Fukuju Junmai EcoZero, the world's first carbon-neutral sake with net zero emissions. The emissions are minimized by decreasing the rice polishing ratio from 70% to 80%, which thereby decreases the energy consumption during the milling process, and uses Kyokai dried yeast to shorten the brewing process by seven days.

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Key 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

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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