The incessantly increasing young population across the world is considered to be the prime dynamics for the growth of the umeshu market. The global youth population aged 15-24, in 2017 was 1.2 billion and it is anticipated to reach 1.4 billion in 2050. Owing to the rapid growth in cultural globalization, the young populous are increasingly consuming alcoholic beverages such as umeshu or plum wine. They started enjoying umeshu as an aperitif or digestif at restaurants and even at homes. This is positively impacting the growth of the umeshu market. Additionally, health benefits associated with umeshu intake are creating an unprecedented demand in the market. Umeshu contains high amounts of citric acid and other essential minerals such as calcium, magnesium, iron, and potassium and moreover antioxidants. Because of the eminent constituents of the umeshu, it helps in exhaustion recovery and relives one from constipation, and prevents diarrhea.
The umeshu market was valued at 102.5 million in 2017. Furthermore, the demand for umeshu across the world is poised to propel at a standard CAR of 9.5% during the forecast period 2019-2025.
Umeshu Market Leveraging Asia-Pacific Region—
Geographically, Asia-Pacific is anticipated to provide lucrative growth opportunities for the growth of the umeshu market during the forecast period and it was responsible for 70% of the total revenues generated in 2018. The dominance of this region is attributed to the presence of huge consumer base in emerging countries such as Japan, India, and China. Umeshu is a traditional japanese liquor in made steeping fresh Japanese ume fruit in shochu or white liquor. It plays a prominent role in Japanese drinking and food culture. Moreover, the liqueur exports, which are primarily umeshu, increased from $18 million to $38 million between 2011 and 2016. Whereas, India and China, which have the world’s largest youth population, are providing immense opportunity for growth across alcoholic beverages such as umeshu. Furthermore, rapid urbanization, changing lifestyles, and increasing purchasing power has further contributed to umeshu’s popularity in the countries of the Asia-Pacific region. For instance, in India, in 2016, 33.1% of the total population was in urban areas and it has increased to 34% in 2018. This is just an attenuated representation of the rapid growth in urbanization in the region. The aforementioned factors have rendered Asia-Pacific with maximum market share.
Residential Sector Surfaces as Key End-User Segment of the Umeshu Market—
On the basis of end-user, the umeshu market is segmented into residential and commercial. Among these, the residential segment is expected to grow at the highest rate during the forecast period. This is due to the fact that umeshu can be easily prepared at home. One can make umeshu at their household without any need for government license for making alcoholic beverages from scratch. Moreover, many retail stores and supermarkets sell Do-It-Yourself (DIY) umeshu kits and one can simply buy it and prepare on his own at his residence. Therefore, the residential segment is anticipated to propel at a CAGR of 8.8% through to 2025.
Umeshu Market Key Companies’ Strategies—
Prominent companies that are striving to gain majority of the global umeshu market share are Choya Umeshu Co., Ltd., Suntory Beverage & Food Limited, Nakano, Creation Foods Company, Uisuki, Ozeki, Umenoyado Brewery Co., Ltd., Takara Sake USA Inc., Jinro Japan Inc., and Lotte Corp. These companies are investing heavily in R&D activities to develop wide varieties of umeshu products to meet the globally growing demand. Moreover, they are frequently adopting business strategies such as partnerships, collaborations, mergers, acquisitions, expansions to fortify their presence in the global market.