Japanese Sake Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019-2029
Sake is a traditional rice-based alcoholic drink, and has gathered groundswell of interest across breweries in Japan for several generations. Strides made by rice production in Japan have supported the momentum to a large extent. Lately, Japanese sake has been gathering steam among people outside the country. Particularly, breweries brands based in the U.S. have begun appreciating the consumer prospects of Japanese sake. The alcohol content of Japanese sake is around 15 percent, and may increase to 17% in typical preparations. The sake finds use in numerous food recipes, and is also considered as a cultural drink for the Japanese population.
A number of Japanese sake varieties with varying flavors and taste have hit the market, in order to meet the changing consumer preferences. Makers adopt sake making processes for preserving particular flavors and aromas. Aside from the ordinary Japanese sake, key product types in the market are junmai, honjozo, junmai ginjo, and ginjo. Of all, junmai ginjo is likely to serve a prominent share in the global sake market.
Worldwide, people are developing a palate for traditional alcoholic beverages. This has been a key driving factor for the evolution of the Japanese sake market, globally. Sake newbies have been even eager to try variation in taste and flavor in this rice-based alcoholic beverage, expanding the potential of demands in indigenous Japan. Advances in brewing techniques have helped Japanese sake makers cater to the changing consumer preferences.
Advent of new trade shows promoting Japanese sake in international markets has helped makers see new, potential opportunities. Over the past few years, stores serving alcoholic beverages in developed nations see a new, exciting opportunity in Japanese sake. However, product recalls can be a significant challenge for players looking to consolidate their stakes in the market. On the other hand, such instances can serve as a clarion call for manufacturers to improve their production systems, further highlighting the need for robust supply and distribution chain.
In recent years, breweries in Japan have been leveraging the synergy of large-scale tasting events and international trade shows for promoting several brands of sake. A recent one was held in New York in January 2020, and was hosted by a U.S. company looking to import sake varieties. As many as 300 of wholesalers and food industry members were present in the event. Among the 16 breweries who attended the event were Asabiraki Co. in Iwate Prefecture, Kobe Shu-Shin-Kan Breweries Ltd., and Sake Brewer Co. A few food industry consultants showed substantial interest in the production methods used by brewery brands making Japanese sake. Such shows play crucial role in unlocking new market prospects in the Japanese sake market. In recent years, U.S.-based food companies are inking partnership deals and collaborations with Japanese breweries and chefs. Furthermore, there are tasting events in new markets. Some of the promising players in the Japanese sake market have intensified their efforts toward this.
Japan undoubtedly is the major market among all key geographies. The country has been a hotbed of opportunities for breweries capitalizing on the cultural connect that various verities of sake seem to promote. The region has seen a plethora of consumer habits picking up, including the ways of Japanese sake tasting in vogue. Connoisseurs are particularly interested in their own way of consuming Japanese sake, bolstering its sales. The wide variety of production being imported to other countries of Asia Pacific is making them open to new revenue streams. The popularity of the Japanese sake has nudged indigenous makers to promote their products in international events and trade shows, particularly the U.S. which is considered as a potentially lucrative market.
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