Global Rice Wine Market Assessment, By Application [Beverages, Cooking], By Distribution Channel [Supermarkets/Hypermarkets, Convenience Stores, Specialty Stores, Online Retail], By Region, Opportunities and Forecast, 2017-2031F

Global rice wine market is projected to witness a CAGR of 4.1 % during the forecast period 2024-2031, growing from USD 5.1 billion in 2023 to USD 7.03 billion in 2031.

Rice Wine Market Size, Industry Share, Forecast 2031

Global rice wine market is projected to witness a&nbsp;CAGR of 4.1 %&nbsp;during the forecast period 2024-2031, growing from&nbsp;USD 5.1 billion&nbsp;in 2023 to&nbsp;USD 7.03 billion&nbsp;in 2031. The market has experienced medium to high growth in the past few years. The rising shift towards low-alcohol beverages due to health benefits and the support provided by the government towards the local wine industries helps fuel the demand for rice wines, driving the market growth.
Rice wine falls under the category of alcoholic beverages, which have low alcohol content and are made from fermented rice with yeast, which turns the natural sugar of rice into alcohol. The process of fermentation gives the wine a unique taste and aroma. It is often used in cooking and mixed with other beverages or as a drink. Rice wines vary in taste from sweet and mild to strong and dry, depending upon its fermentation and aging process. It is mainly popular in Asian Countries such as Korea, Japan, and China.
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<h2 style="text-align: justify;">Influence of Asian Cuisine on Global Trends Drive Market Growth</h2>
Asian cuisine has impacted global culinary trends, whether in traditional dishes or beverages. Rice wine is popular in Asian countries including Japan, China, and Korea. In recent years, the rise of Asian fusion cuisine has further propelled the popularity of rice wine as chefs are further experimenting and incorporating non-traditional dishes and creating innovative flavor combinations. Furthermore, the rising interest in traditional Asian cooking methods has increased the demand for genuine and original rice wine varieties leading to its broader availability in the international markets. In addition, rice wine is associated with health benefits due to its antioxidant properties and benefits related to digestion, contributing to its demand among health-related consumers and driving the growth of the market.
<h2 style="text-align: justify;">Rising Shift Towards Low-Alcohol Beverages Due to Health Benefits</h2>
The rising shift towards low-alcohol beverages due to health benefits has increased consumers' interest and is a feasible option for health-conscious consumers. Furthermore, rice wine is perceived as a more natural and traditional choice, attracting consumers who want a traditional and authentic touch to their drinking experience. In January 2023, WHO published a statement in The Lancet Public Health stating that, when it comes to alcohol consumption, there is no same amount which does not affect health. In addition, rice wine has certain health benefits, such as containing probiotics and being gluten-free, which is fueling its demand among health-conscious consumer segment.
According to an article published by Forbes in June 2023, in the past few years, one of the macro trends that have grown inherently is linked to the rise of health and wellness and mindfulness drinking with the NoLo movement, which stands for no and low alcohol among millennials and Gen-Z. The non-alcoholic category is expected to grow by 25% between 2022 and 2026.
<h2 style="text-align: justify;">Rising Government Support Towards Local Rice Wine Industries</h2>
Rising government support towards local wine industries, including rice wine, shows a growing recognition of these industries' economic and cultural importance. Governments may offer various forms of support, such as financial incentives, research and development funding, or promotional campaigns to boost production, improve quality, and expand market reach.
In the case of rice wine, government support includes subsidies for rice farmers, grants for small-scale producers to invest in equipment and facilities, or assistance with marketing and export initiatives. In addition, governments implement policies to protect and promote traditional brewing methods and regional specialties, helping to preserve cultural heritage and promote tourism. Government stimulates economic growth and strengthens rural communities by supporting the local rice wine industry. Moreover, increased visibility and accessibility of rice wine can enhance trade and cultural exchange, fostering market growth.
For instance, in February 2024, Japanese government hosted a Sake alcobev appreciation and business launch event, promoting India entry and expansion of Japan premium brands of fine rice wine&rsquo;s sake.
<h2 style="text-align: justify;">Asia-Pacific Dominates Rice Wine Market</h2>
Asia-Pacific dominates the global rice wine market because of the easy availability of products and increased customer base and the presence of major global producers of rice wine in the region. Countries such as South Korea, China, Southeast Asian nations, and Japan are the major consumers and producers of rice wine. The region offers significant potential due to its large consumer base and favorable climatic condition for brewing of rice wine, especially in China and Japan. Also, the advancement in production and distribution techniques allowed the producers to supply their products domestically as well as internationally.
According to an article published by The Korea Herald in February 2024, South Korean singer Si-kyung launched a Korean rice wine under his new liquor brand Kyung, &lsquo;Kyungtakju.&rsquo; This traditional fermented drink is crafted from rice. The entry of Korean celebrities into the liquor market aligns with a trend in the entertainment industry.
Future Market Scenario (2024 &ndash; 2031F)
1.&nbsp;Working on production cost and providing customized solutions based on their preference and to the consumers drives the demand for rice wine in the market.
2.&nbsp;Continued product innovation, such as introduction of blends, new flavors, and packaging option can attract new customers segments and diversify the consumer base. For instance, Pagod Shaoxing rice wine blended with cheese and added a creamy texture and salty cheese flavor. In addition, this wine is blended with almond, honey, and vanilla flavors.
Report Scope
&ldquo;Rice Wine Market Assessment, Opportunities and Forecast, 2017-2031F&rdquo;,&nbsp;is a comprehensive report by Markets and Data, providing in-depth analysis and qualitative and quantitative assessment of the current state of global rice wine market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, opportunities, and forecast between 2024 and 2031. Additionally, the report profiles the leading players in the industry mentioning their respective market share, business model, competitive intelligence, etc.
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Report Attribute
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Details
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Base Year of the Analysis
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2023
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Historical Period
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2017-2022
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Forecast Period
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2024-2031
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Projected Growth Rate
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CAGR of 4.1% between 2024 and 2031
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Revenue Forecast in 2031
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USD 7.03 billion
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Segments Covered
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Application, Distribution Channel
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Regions Covered
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North America, Europe, South America, Asia-Pacific, Middle East and Africa
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Key Companies Profile
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Ozeki Sake USA Inc., Asahi Shuzo Co., Ltd., Kokuryu Sake Brewing Corporation, Shanghai, Jinfeng Wine Co.,Ltd, Zhejiang Shanhao Wine Co.,Ltd, DEWAZAKURA SAKE BREWERY CORP., YAEGAKI Corporation of USA, Hakkaisan Brewey Co., Blue Current Brewery, and China Shaoxing Yellow Rice Wine Group Co., Ltd.
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Customization Scope
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15% free report customization with purchase
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Pricing and Purchase Options
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Avail the customized purchase options to fulfill your precise research needs
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Delivery Format
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PDF and Excel through email (subject to the license purchased)
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In the report,&nbsp;global rice wine market&nbsp;has been segmented into the following categories:&nbsp;
<ul style="text-align: justify;">
<li>By Application
<ul>
<li>Beverages</li>
<li>Cooking</li>
</ul>
</li>
<li>By Distribution Channel
<ul>
<li>Supermarkets/Hypermarkets</li>
<li>Convenience Stores</li>
<li>Specialty Stores</li>
<li>Online Retail</li>
</ul>
</li>
<li>By Region
<ul>
<li>North America</li>
<li>Europe</li>
<li>Asia-Pacific</li>
<li>South America</li>
<li>Middle East and Africa</li>
</ul>
</li>
</ul>
Key Players Landscape and Outlook
Key participants in the global rice wine market are doing continuous innovation, characterizing the landscape, as these companies compete to outperform one another in terms of taste and type. The market prognosis remains positive with the rising adoption of partnership by key players, the market is expected to rise over the projected horizon. Rice Wine manufacturers are concerned with supply chain resilience, product quality, and variety which will likely define the industry's future. Collaborations and developing technologies are projected to increase competition in this fast-paced market.
For instance, in October 2023, Total Wine &amp; More acquired Lukas Fine Wine &amp; Spirits Stateline store. The Stateline store will operate under the Total Wine &amp; More brand name and remain open while it undergoes renovations expected to be completed in 2024. The acquisition aims to climate-controlled wine cellar for high-end wines and rare selections plus a &lsquo;wine education center.&rsquo;
For instance, in December 2023, Spirit of Gallo, a spirit supplier in the United States, partnered with LOTTE Chilsung Beverage Co.Ltd. to add a new category &lsquo;Soju&rsquo; to its fast-growing spirits portfolio.
Key Players Operating in global rice wine market are:
<ul style="text-align: justify;">
<li>Ozeki Sake USA Inc.</li>
<li>Asahi Shuzo Co., Ltd.</li>
<li>Kokuryu Sake Brewing Corporation</li>
<li>Shanghai Jinfeng Wine Co. Ltd</li>
<li>Zhejiang Shanhao Wine Co. Ltd</li>
<li>DEWAZAKURA SAKE BREWERY CORP.</li>
<li>YAEGAKI Corporation of USA</li>
<li>Hakkaisan Brewey Co.</li>
<li>Blue Current Brewery</li>
<li>China Shaoxing Yellow Rice Wine Group Co., Ltd.</li>
</ul>
Markets and Data&rsquo;s reports answer the following questions:
<ul style="text-align: justify;">
<li>What is the current and future market size of the product/service in question globally or specific to different countries?</li>
<li>How are the markets divided into different product/service segments and the market size and growth of each segment?</li>
<li>What is the market potential of different product segments and their investment case?</li>
<li>How are the markets predicted to develop in the future and what factors will drive or inhibit growth?</li>
<li>What is the business environment and regulatory landscape specific to the product/service?</li>
</ul>
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Global Rice Wine Market Assessment, Opportunities and Forecast, 2017-2031F

Global rice wine market is expected to experience growth due to rising shift towards low-alcohol beverages due to health benefits.

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