Sake is a Japanese alcoholic beverage made from fermented rice. It is a light-colored sweet noncarbonated drink with about 14% to 16% of 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 mold called koji or Aspergillus oryzae fungus, that converts the rice starch to fermentable sugars.
The sake market consists of sales, by entities (organizations, sole traders and partnerships), of sake products that are made up of fermented rice.
The global sake market was valued at $7,980.0 million in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 2.0%.
Expansion Of Online Sales Platforms
During the historic period, the expansion of online sales platforms propelled the growth of the sake market. An online sales platform, also known as an e-commerce platform, is a digital or web-based platform that allows businesses and individuals to sell their products or services over the Internet. Online sales platforms can play a significant role in helping products, by making it easier for consumers to purchase sake and find the best prices on sake. In addition, it can help increase the popularity of sake and attract new consumers to sake drinks. According to Tidio Sp. z o.o., a US-based software company, the number of digital shoppers increased from 268.2 million in 2022, to 274.7 million in the US. Moreover, global digital buyers increased from 2.14 billion in 2021, to 2.30 billion in 2022 and 4.4% of online shopping increased between 2020 and 2021. Therefore, the expansion of online sales platforms drove the sake market.
Increasing Investments In Sake Products To Increase Production Capacity
Companies operating in the sake market are focused on increasing their investments to increase production capacity and to strengthen their position in the market. For instance, in May 2023, Ontario Spring Water Sake Company (OSWS), a Canada-based sake producer, announced a strategic investment by Takara Shuzo International Co., Ltd., a Japan-based company that produces and distributes alcoholic beverages. The investment will help Ontario Spring Water Sake Company expand its production capacity and distribution network and introduce its sake products to a wider audience. Furthermore, in September 2022, Cool Japan Fund (CJF), a Japan-based government-backed investment fund, invested in Wine Gallery Pty Ltd, an Australia-based online retailer solving the product discovery problem for wine through the retail brand "Good Pair Days (GPD) in Australia and the United Kingdom, which is part of CJF's broader strategy to promote Japanese culture and creativity around the world. The investment is made to expand distribution of japanese sake in Australia and the UK.
The global sake market is highly fragmented, with a large number of players operating in the market. The top ten competitors in the market made up to 3.76% of the total market in 2022.
Sake Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global sake market as it emerges from the COVID-19 shut down.
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Where is the largest and fastest-growing market for sake? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The sake market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider sake market; and compares it with other markets.
The report covers the following chapters
- Introduction and Market Characteristics- Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by type, by age group, by range and by application.
- Key Trends- Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario- The report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the sake market.
- Global Market Size And Growth- Global historic (2018-2023) and forecast (2023-2028, 2033F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional And Country Analysis- Historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison by region and country.
- Market Segmentation- Contains the market values (2018-2023) (2023-2028, 2033F) and analysis for each segment by type, by age group, by range and by application in the market. Historic (2018-2023) and forecast (2023-2028) and (2028-2033) market values and growth and market share comparison by region market.
- Regional Market Size and Growth- Regional market size (2023), historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Other Major And Innovative Companies- Details on the company profiles of other major and innovative companies.
- Competitive Benchmarking- Briefs on the financials comparison between major players in the market.
- Competitive Dashboard- Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions- Information on recent mergers and acquisitions in the market is covered in the report. This section gives key financial details of mergers and acquisitions which have shaped the market in recent years.
- Market Opportunities And Strategies- Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions And Recommendations- This section includes recommendations for sake providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
- 1) By Type: Ordinary Sake; Junmai; Honjozo; Junmai Ginjo; Ginjo; Junmai Daiginjo
- 2) By Range: Premium; Medium; Low
- 3) By Application: Commercial Use; Home Use
- 4) By Age Group: 20-40 Years Old; 40-60 Years Old; Above 60 Years Old
- Companies Mentioned: Takara Holdings Inc.; Gekkeikan Sake Co. Ltd.; Tatsuuma-Honke Brewing Co. Ltd.; Hakutsuru Sake Brewing Co. Ltd.; Konishi Brewery Co. Ltd.
- Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Canada; Brazil; France; Germany; Italy; Spain; UK; Russia
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time-series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; sake indicators comparison.
- Data segmentations: country and regional historic and forecast data; market share of competitors; market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.