Authored By: Sarah
11 Jul 2024

 Rice Wine Market Size to grow by USD 3.00 billion between 2024-2028

According to a research report “ Rice Wine Market” by Type (Sake wine, Makgeolli wine, Others) Distribution Channel (Offline, Online) Geography (APAC, Europe, North America, Middle East and Africa, South America)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 3.00 billion, at a CAGR of  4.36% during the forecast period. The global rice wine market is poised for significant expansion over the forecast period, driven in part by the increasing preference for online shopping among consumers. The convenience and wide range of options available through Internet retailers and specialty stores catering to rice wine have made online channels a popular choice for consumers. Price comparison and the comfort of shopping from the convenience of one's home further enhance the appeal. Key players in the market, such as The Liquor Store and others, are strengthening their online distribution channels to capitalize on this trend and fuel the growth of online rice wine sales.

Browse market data tables, figures, and in-depth TOC on “Rice Wine Market” by Type (Sake wine, Makgeolli wine, Others) Distribution Channel (Offline, Online) Geography (APAC, Europe, North America, Middle East and Africa, South America) Global Forecast to 2028. Download Free Sample

 

By Type, the Sake wine segment is projected to dominate the market size in 2024

The rice wine market's offline sector generates substantial revenue through sales in specialty stores, on-trade establishments (bars, pubs, and restaurants), hypermarkets, supermarkets, convenience stores, clubhouse stores, and department stores. Rice wine retailers and vendors are expanding their presence in local and regional markets, primarily through offline channels. They distribute their products via specialty stores and various retail formats, leading to heightened competition. In response, retailers employ innovative business strategies, such as competitive pricing and expanded product offerings, to maintain market share and address the dwindling appeal of offline shopping.

By Distribution Channel, Offline  segment is expected to hold the largest market size for the year 2024

In the global rice wine market, sake, a quintessential Japanese alcoholic beverage, held the largest market share in 2023. Sake, also recognized as Japanese rice wine, is meticulously crafted through the fermentation process of polished rice, resulting in a translucent, sweet, carbonation-free beverage with an alcohol content of 14-16% by volume. Sake is deeply rooted in Japanese culture and is served with reverence in a traditional ceremony. The beverage is warmed in a tokkuri and served in a sakazuki, a tiny porcelain cup, for sipping. Sake's unique production methods and cultural significance make it a valuable asset in the rice wine market.

APAC is forecasted to hold the largest market size by region in 2024

The Asia Pacific (APAC) region holds the largest market share in the global rice wine market, accounting for approximately 60% of the total consumption in 2023. Key contributors to this growth include China, Japan, Taiwan, South Korea, and India, where the traditional beverage is deeply rooted in cultural traditions. In China, the younger demographic is driving demand due to the affordability and accessibility of rice wine, with the increasing number of supermarkets and convenience stores facilitating its distribution. The Chinese market is significant due to the large ethnic Chinese population and government initiatives to promote traditional beverages, making China a major producer and consumer of rice wine worldwide.

The Rice Wine Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • Asahi Shuzo Co. Ltd.
  • DEWAZAKURA SAKE BREWERY CORP.
  • Forbul Co. Ltd. 
  • Gekkeikan Sake Co. Ltd.
  • HAKKAISAN CO. LTD.
  • Hana Makgeolli
  • KOKURYU SAKE BREWING CORP.
  • Kooksoondang Brewery Co. Ltd. 
  • Kuaijishan Shaoxing Wine Co. Ltd.
  • Lotte Chilsung Beverage Co. Ltd.
  • Luzhou Laojiao
  • Otokoyama Co. Ltd.
  • Ozeki Sake Inc.
  • SakeOne
  • Shaanxi Xifeng Wine Co. Ltd.
  • SUDOHONKE CO. LTD.
  • Takagi Sake Brewery Co. Ltd.
  • Takara Holdings Inc.
  • YAEGAKI Corporation of USA
  • Zhejiang Guyue Longshan Shaoxing Wine Co. Ltd.
.

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Research Analysis Overview

The Rice Wine Market is a niche segment of the Alcoholic Beverage Market, known for its Unusual Tastes and Unique Flavor Profiles. Unlike traditional alcoholic beverages like beer made from grapes or wine, rice wine is fermented from Rice Starches using specific Mold Strains and Yeast. This results in a distinct Aroma and Taste that is both sweet and savory, making it a popular choice in Asian Fusion Cuisine and Beverage Businesses. Rice wine comes in various types, including low-alcohol and sparkling versions. Its Flavor Profiles range from subtle and delicate to bold and complex, making it a versatile ingredient in Cooking and Beverage Production. Rice wine offers numerous Health Benefits, including the presence of Minerals, Vitamins, Sugars, and Amino Acids, making it a Nutritional Powerhouse. Some popular types of rice wine include Yogurt Sake, which has a tangy and slightly sweet taste, and various types of fermented rice-based drinks. The Rice Wine Market is growing in popularity, with consumers seeking out new and exciting flavors in the Alcoholic Beverage Market. While rice wine may not be as well-known as traditional alcoholic beverages like Rose Wine, Red Wine, or Beer, its unique taste and nutritional properties make it a worthwhile addition to any Beverage Business.

Market Research Overview

The Rice Wine Market is a niche yet thriving sector in the Alcoholic Beverage Market, known for its inventive flavor profiles and careful fermentation procedures. This market showcases a wide range of Rice Types, each bringing unique flavor profiles to Fermented Rice-Based Drinks. From the traditional Vanilla, Honey, Almond, and Cheese flavors to New Blends and Unusual Tastes, the Rice Wine Market caters to diverse consumer preferences. Rice Farmers employ Organic Farming Practices to produce high-quality Rice Varieties, ensuring the Rice Starches are rich in Minerals, Vitamins, Sugars, and Amino Acids. Traditional Brewing Methods, often passed down through generations, add to the Cultural Heritage of Rice Wine. The NoLo (No or Low Alcohol) Movement and Health-conscious Consumers have led to the growth of the Non-Alcoholic Category in the Rice Wine Market. These beverages offer Digestion Benefits and Acidity, making them a popular choice for those seeking healthier alternatives. The Rice Wine Market's tourism potential is significant, as it provides an opportunity to explore the rich history and traditions behind this ancient beverage. Asian Cooking Methods and Asian Fusion Cuisine often incorporate Rice Wine, adding depth to the Aroma and Taste of dishes. The Beverage Business continues to innovate, with new Flavor Combinations and Sparkling Wine varieties, such as Yogurt Sake, adding excitement to the market. Rice Wine's Nutritional Properties, including its Umami Flavor and Antioxidant Properties, make it a standout in the Alcoholic Beverage Market. While Grapes dominate the Wine Market, Rice Wine offers a unique alternative, with its distinct flavors and brewing methods. The market's potential for growth is vast, as it continues to captivate consumers with its rich history, cultural significance, and health benefits.

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Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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