The global Sake Market is likely to derive growth form the increasing number of export activities for the product across the world. According to a report published by Fortune Business Insights, the Sake Market was valued USD 7.35 Billion in 2018 and is projected to reach USD 10.47 Billion by 2026, exhibiting a CAGR of 4.84% in the forecast period.
Sake is a Japanese alcoholic beverage that is developed through fermentation of rice for a long time. The starches in the drink are firstly converted into a sugar, which later turns into alcohol. The drink contains a moderate percentage of alcohol and is consumed mostly for relaxation and other purposes.
The global demand for sake is increasing by the years. The popularity gained by this drink has resulted from a variety of factors such as the taste, product variations, and content of the beverage. The product which was already popularity in Japan, is witnessing a huge demand from around the world. The demand for sake and excellent trading activities associated with beverages across the world, will contribute to a high adoption of the product in the coming years.
The report provides a detailed analysis of the global Sake Market. It includes insights into the latest industry trends and products that are currently witnessing the highest adoption. Several varieties of products are studied closely and the product that have witnessed the highest demand has been labelled on a regional basis. In addition to the leading product types, the report segments the global Sake Market based on age group and regional demographics.
North America is Set to Witness a High Growth Rate
Although sake is manufactured in Japan, the popularity of the drink has gown down in recent years. Resulting from the decreasing adoption, Asia Pacific will witness a declining trend in the sake growth rate. The export of sake to several countries across North America will contribute to the demand for the product in this region. Additionally, informative programs aimed at marketing the product in the US will constitute to an increase in the Sake Market size in North America.
Fortune Business Insights states that the Sake Market in U.S. was valued at USD 495.49 Million in 2018. The increasing demand and popularity for sake will lead to an increase in the North America Sake Market value in the coming years.
List of leading companies that are operating in the global Sake Market are:
Takara Holdings Inc.
Asahishuzo CO., Ltd.
Tatsuuma-Honke Brewing Co. Ltd.
Gekkeikan Sake Co., Ltd
Hakutsuru Sake Brewing Co., Ltd.
Sun Masamune Pty Limited
KANPAI London Craft Sake
Blue Current Brewery
Aramasa Shuzo Co.
Increasing Sake Exports Will Influence Sake Market Growth
The high demand for sake from several countries across the world will lead to an increase in the global Sake Market growth rate in the coming years. With the declining trend for the Sake Market in Asia Pacific, the companies operating in that region have shifted their focus on promoting the drink in other parts of the world. In some Asian countries, Europe, and North America where Japanese food is highly appreciated and dining out at Japanese food joints and restaurants is a part of regular life, there is an immense scope of expansion for the Sake Market.
Activities such as promotional programs, events, and other activities have all contributed to Sake Market growth. As a result of high product demand, there is an increase in the number of export activities for the product across several countries.
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