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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. The global market in terms of volume is projected to witness a negative growth trend due to declining volume consumption by the aging population in Japan.
Sake is a Japanese alcoholic beverage prepared by fermented rice, hence it is considered and termed as rice wine in some countries where it is exported. Other ingredients required to prepare sake are water, yeast, and koji-kin (an enzyme secreting mold). Sake, which is also referred to as “Saki” and “Nihonshu” has an alcohol content of approximately 15-18%. Sake usually has a sweet flavor and is light in color.
Sake, which is also commonly referred to as Nihonshu or Nihonshu's's sake in Japan is witnessing rapid recognition, which is leading to increased demand for sake across the globe. The export of sake from Japan to various western as well as Southeast Asian countries has increased crucially in the past few years, however, the market for the sake of Japan witnessed a gradual decline in recent years. The global market is projected to gain momentum in the forthcoming years, due to increasing knowledge about sake among consumers and its growing availability at specialty stores and restaurants.
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The launch of programs by sake breweries and sake educators to spread knowledge about sake, its brewing history, and its quality is expected to aid the interest of consumers in exploring various sake varieties available in the market.
“Overseas Sake Exports – Increase in export of sake across countries or regions where demand for the product is growing rapidly”
Sake is no longer only a drink of Japan, but it has strongly made its way across foreign countries such as the U.S., China, and others. The shrinking sake market in Japan has led to increased export of sake, especially of premium grade to countries where people like to pair the drink with food. The sake of exports to the U.S. has grown multiple times in the past few years, and some of the reasons attributed to it are extraordinary sensory characteristics of the drink and the high inclination of people of the states towards traditionally styled drinks. Along with sake exports, sake brewers from Japan are setting up their manufacturing units across foreign countries to make most of the profit as well as to expand in this market globally.
Significant growth in the number of Japanese restaurants across foreign countries is another major contributor to the growth of the global market. The foodservice industry is a major distribution channel for sake across foreign countries, hence the growth in the number of Japanese restaurants and food joints overseas will have a positive impact on the sake of sales. Furthermore, high appreciation for Japanese food and the rising trend of pairing cuisine varieties with sake is anticipated to boost the demand for sake across various regions and countries during the forecast period.
“Development of Sake-Infused Products can Offer Growth Opportunities to the Global Market”
The trend of infusing sake with ingredients and beverages, such as chocolate and beer is growing rapidly as they form an exotic combination and hold the potential to gain customer’s attention. Kitkat Japan has already launched an alcohol-inspired sake Kitkat in the country, that has gained immense popularity since its launch. The idea of the development of sake-infused consumables and drinks is witnessing rapid demand growth due to its novel nature and extraordinary characteristics.
“Junmai Sake Grade to Emerge as a Fastest-growing Category”
The Junmai sake, which falls under the premium sake category with rice polishing lying in between 70-55% is the most desirable sake variety across the globe. Junmai sake being rich in umami flavor, lightly sweet in taste, and high in acidity, is the most desirable option for consumers when they are looking to combine it with food. The sake variety is widely available across specialty stores and restaurants due to its high demand among consumers. Other sake varieties that are anticipated to grow at a decent pace during the foreseeable years are Ginjo and Junmai Daiginjo.
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“People belonging to the age group of 40-60 Years Old are the major consumers of sake”
The popularity of sake among the middle-aged population is comparatively higher than other age groups.People belonging to the age group of 40-60 years form a major consumer base for sake. The price of sake is usually higher than regular wine and beer, as a result of which per capita income and affordability have a direct relation with the consumption of sake worldwide. People belonging to the middle-age group are more inclined towards traditional and luxury drinks, hence their contribution to the growth of global sake market share is projected to be higher during the forecast years.
“Japan is the Leading Market for Sake and EU Sake Market is Projected to Witness Fastest Growth”
Japan is at the forefront of the sake market and is the major producer and consumer of sake across the globe, however, the increased inclination of the Japanese population towards western-style drinks and the growing aging population within the country has impacted the sake market of Japan negatively. The demand for sake is witnessing immense growth across the United States due to the high per capita income of the people across the country, coupled with the expansion of production bases of sake in the country. Europe generated a revenue of USD 92.29 Million in 2018 and is anticipated to grow decently in the global sake market during the forecast period.
The EU is anticipated to rise at a rapid pace attributed to the increasing demand for the product across countries such as the U.K., Germany, France, and others. The U.K. is emerging as a major export destination for Japanese sake. Along with an increase in sake imports, there has been an emerging trend of start-ups of small sake breweries in the EU, which is expected to drive the EU sake market growth.
Europe Sake Market Size, 2018
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The sake market in Europe and the U.S. is expected to grow at a considerable pace due to the increasing interest of consumers in light alcoholic, umami-rich beverages. Rising participation of Japan-based, U.S., and Europe's sake brewers in stepping up production capacities of sake is estimated to have a positive influence on the sake sales across the countries of Europe and North America. Furthermore, the presence of an organized distribution channel for sake across the country is another major growth propelling factor for the U.S. and Europe sake markets.
“Effective Marketing Strategies, Expansion of Production Bases in Other Countries are Key Strategies of Global Sake Industry Players”
The sake market is witnessing intensive reformation across Japan, while in other countries the demand for sake is growing continuously and market players are adopting innovative marketing techniques to sell their products. In Japan, key market players are adopting reformulation of the product by changing/reducing its alcohol % content, changing the packaging styles of sake, and making it more sophisticated (in order to make it more popular among youths). Across other countries and regions, such as the EU and Australia the market players are focusing on developing authentic sake across their countries/regions by using high-quality raw materials.
A number of key market players are focusing on base expansion strategy to remain prominent in the regional or country market, along with making most of the profit. The other significant strategy of key market players is the enhancement of the product portfolio to offer customers a wide range of sake varieties.
An Infographic Representation of Sake Market
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The increasing consumption of sake and its growing export is a significant growth engine of this market. Sake consumption is widely practiced in Japan, however, in countries and regions, such as Hong Kong, U.S., the EU, and others, the sake market revenue is projected to flourish significantly during the projected period.
The report provides qualitative and quantitative insights on the sake industry and a detailed analysis of sake market size and growth rate for all possible segments in the market. this market is segmented by type, age group, and geography. Based on type, the global market is categorized into ordinary sake, Junami, Honjozo, Junmai Ginjo, Ginjo, and Junmai Daiginjo. The global market is also segmented by age group into 20-40 years old, 40-60 years old, and above 60 years old. Geographically, the global market is segmented into Japan, U.S., EU, Australia, and the Rest of the World.
Along with this, the report provides an elaborative analysis of the sake of market dynamics and competitive landscape. Various key insights provided in the report are the overview of related markets, recent industry developments such as mergers & acquisitions, the regulatory scenario in key countries, and key industry trends.
Value (USD Million)
Volume (Million Litres)
By Age Group
Fortune Business Insights says that the sake market was valued at USD 7.35 Billion in 2018 and is projected to reach US$ 10.47 Billion by 2026.
In 2018, the Sake Market was valued at US$ 7.35 Billion.
Growing at a CAGR of 4.84%, the sake market will exhibit steady growth in the forecast period (2019-2026)
Junmai segment is expected to be the leading segment in sake market during the forecast period.
Increasing demand and export of sake across the overseas market is driving the growth of the Sake Market.
Takara Holdings Inc., Ozeki Sake, and Asahishuzo Co., Ltd. are few of the key players in Sake Market.
Japan is expected to hold the highest market share in the Sake Market.
People belonging to 40-60 years old forms the leading consumer base for sake.
Product innovations, partnerships & agreements are the key market trends that are driving the global sake market.
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