Global Mirin Market Size To Worth USD 743.42 Million By 2033 | CAGR of 5.43%
Category: HealthcareGlobal Mirin Market Size To Worth USD 743.42 Million By 2033
According to a research report published by Spherical Insights & Consulting, the Global Mirin Market Size is to Grow from USD 438.21 Million in 2023 to USD 743.42 Million by 2033, at a Compound Annual Growth Rate (CAGR) of 5.43% during the projected period.
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Browse key industry insights spread across 241 pages with 110 Market data tables and figures & charts from the report on the "Global Mirin Market Size, Share, and COVID-19 Impact Analysis, By Type (Aji-mirin, Hon-mirin and Shio mirin), By Application (Residential and Commercial), By Distribution Channel (Hypermarkets & Supermarkets, Convenience stores, Online, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here:https://www.sphericalinsights.com/reports/mirin-market
Mirin is a rice wine that imparts incredible flavor to Japanese cuisine. Because of its high sugar content, it perfectly complements the salty flavor of soy sauce, another traditional Japanese condiment. Its syrupy nature makes it an essential element in Japanese glazes that include teriyaki sauce. Mirin, similar to saké, has approximately 14 percent alcohol (compared to 18 to 20 percent for saké) and is heavy in sugar. The global mirin market is seeing substantial expansion because of increasing customer demand for versatile culinary ingredients and a growing interest in genuine Japanese cuisine. Mirin, a naturally fermented rice wine, is gaining popularity due to customers' increasing health consciousness and preference for food made with natural and less processed ingredients. Furthermore, several of the obstacles are expected to impede the mirin market's expansion. Variations in the price of raw materials, primarily rice, have an impact on the cost of producing mirin, making it difficult for market players to remain profitable.
The aji-mirin segment accounted for the largest revenue share of the mirin market during the projected timeframe.
Based on the type, the mirin market is divided into aji-mirin, hon-mirin, and shio mirin. Among these, the aji-mirin segment accounted for the largest revenue share of the mirin market during the projected timeframe. Compared to other sweeteners and flavour enhancers, aji-mirin is said to be a healthier option. Its natural and traditional ingredients appeal to health-conscious consumers since it contains antioxidants and amino acids.
The commercial segment holds the highest market share of the mirin market during the projected timeframe.
Based on the application, the mirin market is divided into residential and commercial. Among these, the commercial segment holds the highest market share of the mirin market during the projected timeframe. Due to its crucial position in Japanese and Asian cuisine, a large amount of mirin consumption is driven by commercial use, which includes restaurants, hotels, and food service operations. Since mirin is a common component in many professional kitchens and is used to enhance flavours in a wide variety of foods, the demand from these industries is constant.
The hypermarkets & supermarkets segment is anticipated to grow at the fastest CAGR of the mirin market during the projected timeframe.
Based on the distribution channel, the mirin market is divided into hypermarkets & supermarkets, convenience stores, online, and others. Among these, the hypermarkets & supermarkets segment is anticipated to grow at the fastest CAGR of the mirin market during the projected timeframe. These retail formats are the preferred option for customers seeking convenience and variety since they provide a wide range of food products, including mirin. Supermarkets and hypermarkets' wide distribution and well-established infrastructure ensure that mirin is highly visible and easily accessible, thereby securing its dominant position in the market.
Asia Pacific is expected to hold the largest share of the mirin market over the forecast period.
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Asia Pacific is expected to hold the largest share of the mirin market over the forecast period. China, South Korea, Thailand, and Japan are among the countries in this region with similar cultures and cuisines. This shared culture has led to a greater recognition and respect for drugs such as mirin. The area's strong culinary heritage and its abundance of Japanese eateries and food products are major contributors to its dominant position.
Europe is predicted to grow at the fastest pace in the mirin market during the projected timeframe. The growing demand for Japanese cuisine is attributed to the rise in popularity of Japanese eateries, cooking classes, and food festivals around Europe. Through these venues, European consumers are introduced to real Japanese products such as mirin, increasing their knowledge and use of this versatile ingredient.
Major vendors in the mirin market are Kikkoman Corporation, Eden Foods, Mizkan Holdings, Sakura Foods Corporation, Higashimaru Shoyu Co., Ltd., Takara Sake, Yutaka, Kankyo Shuzo, Urban Platter, Soeos, Marukin Shoyu Co., Ltd., Suzuya Co., Ltd., Shoda Shoyu Co., Ltd., Shinkichi Kogyo Co., Ltd., and others.
Recent Developments
- In June 2024, Kikkoman unveiled a new strategy to expand its mirin product line, with a focus on organic and low-sugar substitutes. This approach is in line with the growing consumer desire for ingredients that are healthier and more natural and aims to capture a larger share of the premium mirin market.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the mirin market based on the below-mentioned segments:
Global Mirin Market, By Type
- Aji-mirin
- Hon-mirin
- Shio mirin
Global Mirin Market, By Application
- Residential
- Commercial
Global Mirin Market, By Distribution Channel
- Hypermarkets & Supermarkets
- Convenience stores
- Online
- Others
Global Mirin Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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