Sake Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Product Type ; and Range

The global sake market was valued at US$ 9,290. 16 million in 2019 and is projected to reach US$ 13,146. 68 million by 2027; it is expected to grow at a CAGR of 4. 7% from 2020 to 2027. Sake is an alcoholic beverage prepared by fermenting rice, which has been polished to remove the bran.

New York, Oct. 20, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Sake Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Product Type ; and Range" - https://www.reportlinker.com/p05978101/?utm_source=GNW
Sake is also known as Japanese rice wine.

Sake is known as Japanese wine and prepared from fermented rice.Unlike wine, in which alcohol is prepared by fermenting sugar that is naturally present in fruit (typically grapes), sake, and indeed any East Asian rice wine (such as huangjiu and cheongju), is mainly produced by a brewing process, which is more akin to that of beer, where starch is basically converted into sugars which ferment into alcohol.

The brewing process for sake basically differs from the process for beer, where the conversion from starch to sugar and from sugar to alcohol occurs in two distinct steps.Like other rice wines, when sake is brewed, these conversions occur simultaneously.

In Japan, sake is often served with a special ceremony, where it is gently warmed in a small earthenware or porcelain bottle and then sipped from a small porcelain cup called a sakazuki. Undiluted sake has an ABV of about 18%-20%. If sake is diluted with water prior to it is bottled, the ABV will be around 15%.
Based on range, the sake market is segmented into premium, medium, and low.The low segment accounted for the largest share in market in 2019, and the premium segment is expected to register the fastest CAGR during 2019–2027.

At present, around 70%–80% of the sake produced is non-premium or low priced Futsushu, also called as regular ‘table Sake’ or Sanzoshu.Sanzoshuis called as triple sake; referring to the 3-fold increase in yield the addition of raw ethanol can deliver the cost-conscious brewer.

These types are typically brewed for maximum yield and value, using cheaper rice grades that are generally less polished under 30% removed and then brewed with significant amounts of distilled alcohol and sometimes other additives.The growing use of ordinary sake into culinary uses especially in foodservice industries is expected to drive the growth of this segment.

Also high appreciation for Japanese food and rising trend of pairing cuisine varieties with sake is expected to boost the demand for low grade sake during the forecast period.

Based on geography, the global sake market is segmented into North America, Europe, AsiaPacific, South America, and the Middle East and Africa. In 2019, North Americaheld the largest share in the global market, followed by Europe and AsiaPacific.The US is dominating the sake market in North America, followed by Canada and Mexico. Several sake breweries have a strong foothold in the North American region. Takara Sake USA Inc., Gekkeikan Sake, and Ozeki Sake are among the key market players present in the North America sake market. These breweries are constantly working toward innovation and development of different varieties of sake with improved tastes and qualities to attract new consumers and widen the consumer base in the region. The export of sake to several countries across North America will contribute to the rise in demand for sake in the region. Innovative programs aimed at marketing the product across North America will constitute to increase the demand for sake in North America.

The COVID-19 outbreak, which began in Wuhan (China) duringDecember 2019, has spread across the world at a fast pace.As of August 2020, the US, Russia, India, Brazil, Mexico, and South Africa are among the worst-affected countries in terms of positive cases and reported deaths.

According to the WHO figures updated in September 2020, ~29,444,198 confirmed cases and ~931,321 total deaths have been reported globally.The outbreak has affected economies and industries due to lockdowns, travel bans, and business shutdowns.

Food & beverage processing is one the world’s major industries facing serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns as a result of this pandemic.Although, China is the global manufacturing hub and is the largest raw material supplier for various industries, it is also one of the worst-affected countries by the COVID-19 pandemic.

The lockdown of various plants and factories in China is affecting the global supply chains and adversely impacting the manufacturing and sales of various types of sake. The overall market collapse due to COVID-19 is also affecting the sake market growth due to shutting down of factories, obstacle in supply chain, and downturn in world economy.

Aramasa Co, Ltd.;Asahishuzo CO., Ltd.; Blue; Current Brewery;Gekkeikan Sake Co., Ltd;Hakutsuru Sake Brewing Co., Ltd;Kanpai London Craft Sake;Ozeki Corporation; Sun Masamune Pty Limited; Takara Sake USA Inc.;and Tatsuuma-Honke Brewing Co. Ltd.are among the key players present in the global sake market.

The overall size of the global sake market has been derived using primary and secondary sources.The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the global sake market.

Also, multiple primary interviews were conducted with industry participants and commentators in order to validate and analyze the data. The participants who take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the global sake market.
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