Global demand for Sake and Plum Wine is expected to reach a market valuation of USD 4 Billion by the end of the year 2023, accelerating at a CAGR of 3% over the forecast period (2023 to 2033).
The Sake and Plum Wine market is relatively niche and is experiencing utmost and rapid growth, especially in Japan, as Sake and plum wine is a popular alcoholic beverage in Japan. The market for these products has been growing in recent years due to increasing consumer demand and the popularity of authentic Japanese culture and cuisine. The market is supported by:
North America, followed by Europe, is the major market for Sake and Plum Wine, owing to the increasing popularity of Japanese cuisine and the rise of premium and artisanal drinks.
The USA is the largest market for Sake and Plum Wine in the region, followed by Canada, owing to advances in wine industry and related practices. Apart from North America, Asia-Pacific is the largest market for Sake and Plum Wine, due to the popularity of Japanese culture and cuisine, and the high consumption of sake in countries such as Japan, China, and South Korea.
Key producers are working on manufacturing Sake and Plum Wine in order to gain a greater market share. Domestic and international companies are investing in technology to grow their operations and gain a large share of the market revenue.
Some of these companies include Asahi Group Holdings, Kikkoman Corporation, Suntory Holdings Limited, Gekkeikan Sake Company, Ozeki Corporation, Tedorigawa, Takara Sake USA Inc., Ty Ku Sake & Spirits, Hakutsuru Sake Brewing Co. Ltd., and Nakamura Brewery Co., Ltd.
The market for Sake and Plum Wine is highly competitive, with many companies vying for market share. These companies have a strong presence in the market and are implementing various strategies to gain an advantage, such as emphasizing product quality and pricing, developing new Sake and Plum Wine products, and building a strong brand reputation and distribution network.
Competition in the market is fierce, with companies competing to offer better product quality, lower prices, stronger brand reputation, and wider distribution network.
For instance, in November 2022, Toku Saké launched its debut product, Junmai Daiginjo, a super premium saké. The saké is brewed in Asahikawa, Hokkaido, Japan, using techniques developed by one of the region's oldest breweries over 120 years. Grace Hunt, head of advocacy at Toku Saké, sees huge potential for contemporary, super premium saké, especially with the increasing popularity of Japanese food and drink, such as Japanese whisky.
Toku represents the blending of Japanese cutting-edge technology and ancient cultural heritage. The goal is to bring a versatile saké to a Western audience. The long and cold winters of Asahikawa provide an ideal climate for brewing saké.
Plum wine is a popular Japanese alcoholic beverage that is prepared by soaking alcohol and sugar in unripe fruit solution. Multiple plum wine varieties are available with whole ume fruits in the bottle, and are easily prepared at home. Plum wine is served at different temperatures such as chilled, room temperature, or even warm in the winter. The delicious taste of plum wine is imparted by the presence of citric acid in the fruit.
Besides, plum wine contains acids which are succinic and malic.Sake wine is also a Japanese alcoholic beverage made from fermented rice, thus in some countries it is called and considered rice wine. Certain ingredients needed for sake preparation include yeast, water and Koji-kin. Exports of sake and plum wine from Japan to various countries in Southeast Asia as well as in Western Asia have risen significantly in recent years.
The Sake wine and plum wine market in Japan have witnessed decline in recent years. The global market is projected to gain market share in the coming years due to a growing awareness among consumers of sake and plum wine and its increased availability in restaurants and shops.
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Sake and plum wine are no longer just a Japanese treat, but it's made its way into foreign countries like China, the USA, South East Asia and others. Shrinking Japanese market has resulted in increased exports of sake and plum wine, especially premium-grade wine to countries where people like to pair the drink with food.
The Sake and plum wine of sales to North America has increased several times over the past couple of years, and some of the main contributors to it are exceptional sensory characteristics of drinking and high propensity of states citizens towards traditionally styled drinks.
Significant growth in the number of Japanese restaurants across foreign countries is another major contributor to the growth of global sake and plum wine market. Food service industry is also one of the important factors, which driving the growth of the global sake and plum wine market.
In addition, continued efforts by plum wine producers to reinforce distribution channels and expand purchase channels such as online stores & convenience stores are expected to boost market growth. Increased penetration by global manufacturers in emerging economies such as India and China is also expected to provide significant opportunities for market growth due to changes in lifestyle and consumer habits.
Some of the prominent players driving the growth of sake and plum wine market globally includes,
A couple of key players primarily focus on baseline expansion strategy to remain dominant in the regional market, as well as making plenty of the profit. Another main market participant strategy is to increase the product line for consumers of a wide variety of sake and plum wine varieties.
The Sake and plum wine market are undergoing intense restructuring in Japan, while competition for sake and plum wine is increasing significantly in the other countries and key players are implementing creative marketing strategies for selling their goods. Key players in Japan are supporting product reshaping by increasing the percentage of alcohol.
Europe is projected to grow at a significant rate due to increased product demand in countries such as Germany, the United Kingdom, France and others. The UK & Germany are emerging as a significant sake and plum wine export destination.
There has also been a growing trend of start-ups of small sake and plum breweries of Europe with a rise in imports of sake and plum wine, which is expected to drive the Europe sake and plum wine market growth.
The research report presents a comprehensive assessment of the sake and plum wine market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data.
It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as product type, category, packaging, price range, distribution channel & region.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Sake and Plum Wine Market
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