Press Release

Global Sake Market to Grow at a CAGR of 4.8% During the Period 2024-2032, Driven by Rising International Popularity of Sake

Global Sake Market

According to a new report by EMR titled, ‘Global Sake Market Report and Forecast 2024-2032’, the global Sake market is expected to grow at a CAGR of 4.8% during the period 2024-2032, led by increasing consumer awareness.

The global sake market is expected to be driven by rising popularity of sake in international markets. Over the years, sake has been gaining popularity in markets like USA and China. Rising international interest in sake is expected to boost the global sake market. Majority of sake exports are towards Asian nations such as Taiwan, China, Hong Kong, and Singapore. Trends suggest that rising demand for sake outside Japan exceeds supply. There also is strong potential of growth in Europe.  North America, Europe and Asia Pacific are likely to be key markets.

 

North America is a key market for high-end Japanese sake. The USA accounts for nearly one-fourth of the global market; Canada accounts for nearly three per cent. China, Europe and UK are expected to be markets where consumption would likely rise. Japanese sake is a growing alcoholic beverage category internationally and is expected to continue to grow during the forecast period. With growing consumer awareness, trends indicate growing inclination towards more expensive, premium sake. These aspects are likely to boost the global sake market.

 

Sake is a key element of Japan’s cultural and culinary heritage, and is increasingly gaining appreciation internationally. Sake is a complex drink and its quality depends on the rice used and the extent of rice polishing or filtration carried out during the manufacturing process. Owing to its distinct subtle flavours well-matched to seafood and fine dining, sake is becoming increasingly in prestigious restaurants across the globe. Breweries today pay greater attention to regionality and seek to experiment with new styles and production techniques; the development of sparkling sake is an example of the trend.

 

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In terms of its elements, sake is made of four components - water, rice, yeast and fermentation-spurring mould called koji-kin. Sake is served hot as well as cold, filtered as well as unfiltered, dry as well as sweet. As Sushi increasingly becomes a part of the mainstream American diet, Sake is gaining much recognition and acceptance, driving the global sake market.

 

The international market is vital to the growth of sake; the number of international sake breweries has been increasing steadily in countries like Mexico, England, Spain and New Zealand.

 

Key Findings of the Report:

  • Rising popularity of sake internationally is expected to drive the global sake market. 
  • Growing consumer awareness indicates an inclination towards expensive, premium sake. 
  • North America, Europe and Asia Pacific are projected to be key market.

 

Market Analysis by Product Type, Age Group, Distribution Channel, and Region:

  • By product type, the market is segmented into Ordinary Sake, Junmai, Honjozo, Junmai Ginjo, Ginjo, and Others.
  • By age group, the market is classified into 20-40 Years Old, 40-60 Years Old, and Above 60 Years Old.
  • By distribution channel, the market is divided into Hypermarkets and Supermarkets, Specialty Stores, Online Channels, and Others.
  • By region, the market is classified into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.

 

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