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. 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.
Influence of Asian Cuisine on Global Trends Drive Market Growth
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.
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Rising Shift Towards Low-Alcohol Beverages Due to Health Benefits
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.
Rising Government Support Towards Local Rice Wine Industries
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’s sake.
Asia-Pacific Dominates Rice Wine Market
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, ‘Kyungtakju.’ 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 (2024–2031F)
1. 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. 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
“Rice Wine Market Assessment, Opportunities and Forecast, 2017–2031F”, 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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