The Sake Global Market Report 2023 by The Business Research Company, provides sake market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Sake Global Market Report 2023, the market size is expected to grow from$8.81 billion in 2022 to $9.26 billion in 2023 at a compound annual growth rate (CAGR) of 5.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global sake market is expected to reach $11.13 billion in 2027 at a CAGR of 4.7%.
High demand for the 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.
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The sake market is segmented:
1) By Type: 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
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.
The sake market report table of contents includes:
1. Executive Summary
2. Sake Market Characteristics
3. Sake Market Trends And Strategies
4. Sake Market – Macro Economic Scenario
5. Sake Market Size And Growth
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26. Africa Sake Market
27. Sake Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Sake Market
29. Sake Market Future Outlook and Potential Analysis
30. Appendix
Top Major Players:
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