Date : June 15, 2023
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Japanese Sake is a new-age drink gaining popularity around the world. - Bonafide Research

Japanese Sake is a new-age drink gaining popularity around the world.  - Bonafide Research

Sake, which typically has an alcohol content of between 15% and 17%, is still often referred to as the national drink of Japan. Thankfully for Japan's more than 1,100 sake breweries, there is one shining light - continuing strong overseas sales. Exports of sake in 2021 totalled 40.2bn yen ($294m; ?243m), according to the Japan Sake and Shochu Makers Association. The wine communities around the world are the most susceptible and appreciative of works of art craft sake brewing. To help make sakes more wine-like, a number of producers are even bringing on board former winemakers. Tatenokawa is working with a new sake producer called Heavensake, which is a Franco-Japanese business. Its founder Regis Camus was previously head winemaker at champagne house Piper Heidsieck. While Heavensake's sakes are still, quality sparkling sake is available and increasingly growing in popularity. Another former champagne big wig, Richard Geoffroy, previously of Dom Perignon, also now makes sake. Heavensake is also said to benefit from champagne's decades of marketing and advertising know-how.

Lighter, fruitier sakes are the ones that are really flying at the moment on the international market, They are more accessible for people used to wine, who can appreciate them more easily than some of the more traditional sakes. Exports of Japanese alcoholic beverages are expanding, helped by the yen's depreciation and the growing popularity of Japanese cuisine overseas, but they have a long way to establish a big global presence. To lift exports further, Japan needs to make domestic brewers more competitive by lowering barriers to market entry and cutting red tape. Asahi Shuzo began exporting its Dassai brand of sake in the first half of the 2000s. The brand now accounts for more than 10% of Japan's sake exports by value. In September 2022, Sake startup Rice Wine has raised 300 MIllion Yen in fresh capital to bolster sales in China, Taiwan & other Asian Markets where its sweeter offerings in sleek, stylish bottles are drawing young women as fans.

According to the research report, “Global Sake Market Outlook, 2028” published by Bonafide Research, the market is anticipated to cross USD 11.50 Billion market size, increasing from USD 8.81 Billion in 2022. The market is expected to grow with 4.91% CAGR by 2023-28. The global sake market is experiencing steady growth, with an increasing appreciation for Japanese cuisine and culture around the world. The versatility of sake opens up opportunities for its utilization in various industries, showcasing its cultural significance and potential beyond the traditional sake-drinking experience. It is used in cooking, food & beverage, beauty products. The development of a dining and social culture in China has also contributed to the rising demand for sake. Sake is increasingly being recognized as an upscale and sophisticated beverage choice, fitting well with the growing dining scene and social gatherings. Asia-Pacific region leads the sake market due to Japans lion share in sake producing and exporting. South America is the second fastest growing market for sake as Brazil has significant drinkers for sake, influenced by their culture, eating & drinking habits.

The rise of sake's popularity can be attributed to various factors. Firstly, the increasing interest in Japanese culture and cuisine has spurred consumers to explore traditional beverages like sake, seeking authentic experiences. Sake's ability to complement a wide range of cuisines, from Japanese delicacies to international dishes, has made it a favorite among food enthusiasts and chefs alike. Furthermore, the sake industry has made significant strides in education and promotion efforts. Sake sommeliers, educators, and industry professionals have organized tastings, seminars, and events, fostering a deeper understanding and appreciation for sake among consumers. These initiatives have helped demystify sake and showcase its diverse styles and production methods.

The market has witnessed the emergence of premium and craft sake, enticing discerning consumers who value quality and craftsmanship. Junmai sake, known for its pure rice content, has experienced high demand, while Junmai Ginjo sake, with its refined and delicate flavors, has gained popularity among aficionados seeking elevated drinking experiences. As the global sake industry continues to evolve, producers are committed to maintaining the traditional essence of sake while embracing innovation. Sustainable practices, technological advancements in production, and experimentation with unique ingredients are shaping the future of sake, promising even more diverse offerings for consumers to enjoy. With the global sake market poised for sustained growth, stakeholders in the industry are excited about the prospects ahead. They remain dedicated to sharing the rich heritage and exquisite flavors of sake with enthusiasts worldwide, ensuring that this beloved beverage remains an integral part of global drinking culture.

One of the key drivers behind the sake industry's success is the growing popularity of sake outside of its home country, Japan. Traditional sake-producing countries, including Japan, have seen a surge in exports, with the United States emerging as the second-largest market for sake consumption. Additionally, Europe have witnessed remarkable growth, positioning themselves as major players in the global sake market. Brazil had been considered one of the growing markets for sake consumption and was often mentioned as one of the significant markets outside of Asia. Japan is the birthplace and largest producer of sake. The sake industry in Japan is deeply rooted in tradition, craftsmanship, and cultural heritage. Sake is an integral part of Japanese cuisine and is consumed widely across the country. South Korea & China have their own versions of rice wine, and lately with the popularity around the world, they have been experimenting with sake. While the global sake industry basks in its achievements, it recognizes the need to address challenges and seize new opportunities. Expanding into untapped markets, such as Africa and other regions with limited sake exposure, could unlock new avenues for growth. Collaborations between sake breweries and international food and beverage establishments can further promote sake as a unique and exciting beverage choice.

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Japanese Sake is a new-age drink gaining popularity around the world. - Bonafide Research

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