Global Rice Wine Market Size To Exceed USD 7.4 Billion By 2033 | CAGR of 4.53%
Category: Food & BeveragesGlobal Rice Wine Market Size To Exceed USD 7.4 Billion By 2033
According to a research report published by Spherical Insights & Consulting, Global Rice Wine Market Size is Expected to Grow from 4.75 Billion in 2023 to USD 7.4 Billion by 2033, at a CAGR of 4.53% during the forecast period 2023-2033.
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Browse key industry insights spread across 256 pages with 93 Market data tables and figures & charts from the report on the "Global Rice Wine Market Size, Share, and COVID-19 Impact Analysis, By Product (Sake Wine and Huangjiu Wine), By Distribution Channel (Offline and Online), 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/rice-wine-market
The rice wine market encompasses the business and industry related to producing, distributing, and consuming rice wine. This market includes handcrafted goods, modern inventions, organic options, and traditional rice wines (like sake and huangjiu). Additionally, the growing global appeal of Asian cuisine, especially with the introduction of rice wines, has had a big impact on drinking patterns. As more people search for authentic Asian dining experiences, rice wine and other drinks that complement Asian cuisine are becoming more and more popular worldwide. The sector is also rising as a result of Western countries' increasing demand for rice wine. The market for rice wine is being driven by changing lifestyles and rising disposable income. The rising expenditure of emerging market consumers on non-essential items like food and beverages is driving the demand for luxury rice wine, including foreign varieties. Furthermore, each person uses 3.3 liters of wine globally (260 million liters and 7.9 billion people). This high level of wine consumption indicates that there is a significant demand for various types of wine on a global scale. Customers' increasing interest in a range of alcoholic beverages will benefit the global rice-wine sector. However, wine and beer in particular have had a significant impact on the rice wine business. The sophisticated appearance and diverse range of flavors of wine, especially fruity varieties, have overwhelmed rice wine and attracted younger consumers.
The sake wine segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe.
Based on product, the global rice wine market is categorized as sake wine and huangjiu wine. Among these, the sake wine segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe. Sake wine's worldwide recognition, cultural significance, and steady export development are the main reasons it leads the rice wine market. Sake has established a solid reputation in both domestic and international markets as the signature product of Japan's lengthy history of brewing. According to the Japan Sake and Shochu Makers Association, sake exports hit a record high of 40.2 billion yen (USD 294 million) in 2021, marking the 12th consecutive year of growth.
The online segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe.
Based on the distribution channel, the global rice wine market is categorized as online and offline. Among these, the online segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe. The proliferation of e-commerce and changing consumer preferences are two of the key factors driving the rapid expansion of rice wine's online distribution channel. Customers who utilize digital devices and shop online have easy access to a wider variety of rice wines, such as sake, makgeolli, and huangjiu.
North America is projected to hold the largest share of the global rice wine market over the forecast period.
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North America is projected to hold the largest share of the global rice wine market over the forecast period. The increasing use of rice wine in cocktails and other beverages is driving the industry's growth. As Asian cuisine becomes more popular in the United States, there is an increasing demand for rice wine, which is often used as a beverage or as a component in cooking. Additionally, the demand for rice wine, which is viewed as a better alternative to other alcoholic beverages, has increased due to consumers' growing health concerns.
Asia Pacific is expected to grow at the fastest CAGR growth of the global rice wine market during the forecast period. The rich cultural significance and culinary traditions of rice wine in countries such as China, Japan, Korea, and Thailand. The growing middle classes in these countries have also increased demand because they have more discretionary income and a preference for upscale foods and beverages. For rice wine producers, the South East Asian region presents an even more attractive opportunity.
Major vendors in the global rice wine market are Asahi Shuzo Co., Ltd., Dewazakura Sake Brewery Co., Ltd., China Shaoxing Yellow Rice Wine Group Co., Ltd., Hiro Sake LLC., Kokuryu, Kooksoondang Brewery Co. Ltd, Kuaijishan Shaoxing Wine Co., Ltd., Ozeki Sake (U.S.A.), Inc., Takara Holdings Inc, Yaegaki Corporation of USA, and others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Developments
- In October 2024, Asahi Shuzo Co., Ltd. opened its first foreign brewery in upstate New York with the goal of expanding the consumption of its popular Dassai sake globally. In order to appeal to American consumers, particularly wine and champagne connoisseurs, the new Dassai Blue Sake Brewery offered sake with a lower alcohol concentration than typical varieties, focusing on a premium "junmai daiginjo."
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global rice wine market based on the below-mentioned segments:
Global Rice Wine Market, By Product
- Sake Wine
- Huangjiu Wine
Global Rice Wine Market, By Distribution Channel
- Offline
- Online
Global Rice Wine Market, By Regional
- 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
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