CORRECTED - CORRECTED-UPDATE 5-Japan's Suntory considering merger with Kirin

(Corrects paragraph 10 to show the percentage refers to Kirin and Suntory's share in Japan's market, not global market)

* Deal would create food/drinks giant with $41 bln sales

* Merged entity would control half of Japan's beer market

* Merger could hit regulatory approval snags -analyst

* Could trigger consolidation in Japan, acquisitions abroad

* Kirin up 7.8 pct, other brewers also rise (Updates share price, adds background)

By Mayumi Negishi and Nathan Layne

TOKYO, July 13 (Reuters) - Japanese brewer Suntory Holdings Ltd said on Monday it was considering a merger with larger rival Kirin Holdings Co 2503.T in a deal that would create one of the world's largest beverage and food firms.

The news sent shares of Kirin soaring 7.8 percent to a nine-month high and lifted shares of other brewers amid speculation that a deal would trigger consolidation in the sector.