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Report
South Korea Alcoholic Beverages Market Report and Forecast 2024-2032
Market Report I 2023-11-24 I 131 Pages I EMR Inc.
South Korea Alcoholic Beverages Market Report and Forecast 2024-2032
Market Outlook
According to the report by Expert Market Research (EMR), the South Korea alcoholic beverages market is projected to grow at a CAGR of 4.8% between 2024 and 2032. Aided by the evolving drinking culture, the thriving tourism sector, and innovative product launches, the market is expected to grow significantly by 2032.
South Korea's rich and diverse history is replete with traditional alcoholic beverages like Soju, Makgeolli, and Cheongju. In contemporary times, while these traditional drinks continue to be deeply embedded in South Korean society, there is an increasing inclination towards international spirits, craft beers, and wines, leading to an exciting fusion of local and global tastes.
Soju, in particular, holds a unique position in South Korea's alcoholic beverages market. As one of the best-selling spirits worldwide, soju is not only a drink of choice for many South Koreans but also forms an integral part of social rituals, gatherings, and celebrations. Its versatile nature, often used in cocktails and culinary dishes, further underpins its dominance in the market.
However, beyond traditional favourites, South Korea is witnessing a surge in the popularity of wines and craft beers. The increasing global exposure, paired with a more extensive range of international and local choices available, has resulted in a diversified alcoholic palette among consumers. This shift is particularly noticeable among the younger generation, who often prefer experimenting with new and varied alcoholic concoctions.
According to the South Korean alcoholic beverages market analysis, the burgeoning tourism sector in South Korea significantly contributes to the alcoholic beverages market growth. As international tourists immerse themselves in South Korean culture, there's an uptick in the demand for local alcoholic specialties, further propelling the market forward.
Innovation remains at the forefront of the market's evolution. Brewers and distillers are continually experimenting, resulting in the introduction of new flavours, brewing techniques, and sustainable packaging solutions. This innovation extends beyond the product itself, with themed bars, tasting events, and brewery tours offering consumers unique and immersive drinking experiences.
Additionally, health and wellness trends have influenced the South Korean alcoholic beverages market outlook. There's an increasing demand for low-alcohol and alcohol-free beverages, as well as products infused with natural ingredients. The market players are responding by producing drinks that cater to these health-conscious consumers, ensuring that they do not compromise on flavour or quality.
Moreover, the expansion of e-commerce platforms and online retail channels has revolutionised the way consumers shop for alcoholic beverages. The convenience of online shopping, combined with a wide variety of choices and often attractive discounts, has further spurred the South Korean alcoholic beverages market growth.
Market Segmentation
The market can be divided based on type, end use, and distribution channel.
Market Breakup by Type
- Beer
o Further breakup by packaging type
- Bottle
- Can
- Traditional Spirits
o Further breakup by type
- Shochu/soju
- Maesilju
- Others
- Whiskey
- White Spirits
o Further breakup by type
- Vodka
- Gin
- Wine
o Further breakup by type
- Red Wine
- White Wine
- Sparkling Wine
- Rum
- Tequila and Mescal
- Liqueurs
- Brandy and Cognac
Market Breakup by End Use
- Pub, Bars, and Restaurants
- Retail
Market Breakup by Distribution Channel
- Hypermarkets and Supermarkets
- Convenience Stores
- Speciality Stores
- Department Stores
- Others
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the South Korea alcoholic beverages market. Some of the major players explored in the report by Expert Market Research are as follows:
- Anheuser-Busch InBev NV
- HiteJinro Co., Ltd
- Heineken NV
- Oriental Brewery Co.
- Lotte Chilsung Beverage Co., Ltd
- Casillero del Diablo
- Anheuser-Busch InBev SA/NV
- Carlsberg A/S
- Jeju Beer Co., Ltd.
- Beam Suntory Inc
- Muhak Co Ltd
- Diageo Plc
- Molson Coors Beverage Company
- Pernod Richard S.A.
- Asahi Group Holdings Ltd
- Others
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
1 Preface
2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 South Korea Alcoholic Beverages Market Overview
8.1 Key Industry Highlights
8.2 South Korea Alcoholic Beverages Historical Market (2018-2023)
8.3 South Korea Alcoholic Beverages Market Forecast (2024-2032)
9 South Korea Alcoholic Beverages Market by Type
9.1 Beer
9.1.1 Market Share
9.1.2 Historical Trend (2018-2023)
9.1.3 Forecast Trend (2024-2032)
9.1.4 Breakup by Packaging Type
9.1.4.1 Bottle
9.1.4.2 Can
9.2 Traditional Spirits
9.2.1 Market Share
9.2.2 Historical Trend (2018-2023)
9.2.3 Forecast Trend (2024-2032)
9.2.4 Breakup by Type
9.2.4.1 Shochu/soju
9.2.4.2 Maesilju
9.2.4.3 Others
9.3 Whiskey
9.3.1 Market Share
9.3.2 Historical Trend (2018-2023)
9.3.3 Forecast Trend (2024-2032)
9.4 White Spirits
9.4.1 Market Share
9.4.2 Historical Trend (2018-2023)
9.4.3 Forecast Trend (2024-2032)
9.4.4 Breakup by Type
9.4.4.1 Vodka
9.4.4.2 Gin
9.5 Wine
9.5.1 Market Share
9.5.2 Historical Trend (2018-2023)
9.5.3 Forecast Trend (2024-2032)
9.5.4 Breakup by Type
9.5.4.1 Red Wine
9.5.4.2 White Wine
9.5.4.3 Sparkling Wine
9.6 Rum
9.6.1 Market Share
9.6.2 Historical Trend (2018-2023)
9.6.3 Forecast Trend (2024-2032)
9.7 Tequila and Mescal
9.7.1 Market Share
9.7.2 Historical Trend (2018-2023)
9.7.3 Forecast Trend (2024-2032)
9.8 Liqueurs
9.8.1 Market Share
9.8.2 Historical Trend (2018-2023)
9.8.3 Forecast Trend (2024-2032)
9.9 Brandy and Cognac
9.9.1 Market Share
9.9.2 Historical Trend (2018-2023)
9.9.3 Forecast Trend (2024-2032)
10 South Korea Alcoholic Beverages Market by End Use
10.1 Pub, Bars, and Restaurants
10.1.1 Market Share
10.1.2 Historical Trend (2018-2023)
10.1.3 Forecast Trend (2024-2032)
10.2 Retail
10.2.1 Market Share
10.2.2 Historical Trend (2018-2023)
10.2.3 Forecast Trend (2024-2032)
11 South Korea Alcoholic Beverages Market by Distribution Channel
11.1 Hypermarkets and Supermarkets
11.1.1 Market Share
11.1.2 Historical Trend (2018-2023)
11.1.3 Forecast Trend (2024-2032)
11.2 Convenience Stores
11.2.1 Market Share
11.2.2 Historical Trend (2018-2023)
11.2.3 Forecast Trend (2024-2032)
11.3 Speciality Stores
11.3.1 Market Share
11.3.2 Historical Trend (2018-2023)
11.3.3 Forecast Trend (2024-2032)
11.4 Department Stores
11.4.1 Market Share
11.4.2 Historical Trend (2018-2023)
11.4.3 Forecast Trend (2024-2032)
11.5 Others
12 Market Dynamics
12.1 SWOT Analysis
12.1.1 Strengths
12.1.2 Weaknesses
12.1.3 Opportunities
12.1.4 Threats
12.2 Porter's Five Forces Analysis
12.2.1 Supplier's Power
12.2.2 Buyer's Power
12.2.3 Threat of New Entrants
12.2.4 Degree of Rivalry
12.2.5 Threat of Substitutes
12.3 Key Indicators for Demand
12.4 Key Indicators for Price
13 Competitive Landscape
13.1 Market Structure
13.2 Company Profiles
13.2.1 Anheuser-Busch InBev NV
13.2.1.1 Company Overview
13.2.1.2 Product Portfolio
13.2.1.3 Demographic Reach and Achievements
13.2.1.4 Certifications
13.2.2 HiteJinro Co., Ltd
13.2.2.1 Company Overview
13.2.2.2 Product Portfolio
13.2.2.3 Demographic Reach and Achievements
13.2.2.4 Certifications
13.2.3 Heineken NV
13.2.3.1 Company Overview
13.2.3.2 Product Portfolio
13.2.3.3 Demographic Reach and Achievements
13.2.3.4 Certifications
13.2.4 Oriental Brewery Co.
13.2.4.1 Company Overview
13.2.4.2 Product Portfolio
13.2.4.3 Demographic Reach and Achievements
13.2.4.4 Certifications
13.2.5 Lotte Chilsung Beverage Co., Ltd
13.2.5.1 Company Overview
13.2.5.2 Product Portfolio
13.2.5.3 Demographic Reach and Achievements
13.2.5.4 Certifications
13.2.6 Casillero del Diablo
13.2.6.1 Company Overview
13.2.6.2 Product Portfolio
13.2.6.3 Demographic Reach and Achievements
13.2.6.4 Certifications
13.2.7 Anheuser-Busch InBev SA/NV
13.2.7.1 Company Overview
13.2.7.2 Product Portfolio
13.2.7.3 Demographic Reach and Achievements
13.2.7.4 Certifications
13.2.8 Carlsberg A/S
13.2.8.1 Company Overview
13.2.8.2 Product Portfolio
13.2.8.3 Demographic Reach and Achievements
13.2.8.4 Certifications
13.2.9 Jeju Beer Co., Ltd.
13.2.9.1 Company Overview
13.2.9.2 Product Portfolio
13.2.9.3 Demographic Reach and Achievements
13.2.9.4 Certifications
13.2.10 Beam Suntory Inc
13.2.10.1 Company Overview
13.2.10.2 Product Portfolio
13.2.10.3 Demographic Reach and Achievements
13.2.10.4 Certifications
13.2.11 Muhak Co Ltd
13.2.11.1 Company Overview
13.2.11.2 Product Portfolio
13.2.11.3 Demographic Reach and Achievements
13.2.11.4 Certifications
13.2.12 Diageo Plc
13.2.12.1 Company Overview
13.2.12.2 Product Portfolio
13.2.12.3 Demographic Reach and Achievements
13.2.12.4 Certifications
13.2.13 Molson Coors Beverage Company
13.2.13.1 Company Overview
13.2.13.2 Product Portfolio
13.2.13.3 Demographic Reach and Achievements
13.2.13.4 Certifications
13.2.14 Pernod Richard S.A.
13.2.14.1 Company Overview
13.2.14.2 Product Portfolio
13.2.14.3 Demographic Reach and Achievements
13.2.14.4 Certifications
13.2.15 Asahi Group Holdings Ltd
13.2.15.1 Company Overview
13.2.15.2 Product Portfolio
13.2.15.3 Demographic Reach and Achievements
13.2.15.4 Certifications
13.2.16 Others
14 Key Trends and Developments in the Market
List of Key Figures and Tables
1. South Korea Alcoholic Beverages Market: Key Industry Highlights, 2018 and 2032
2. South Korea Alcoholic Beverages Historical Market: Breakup by Type (USD Million), 2018-2023
3. South Korea Alcoholic Beverages Market Forecast: Breakup by Type (USD Million), 2024-2032
4. South Korea Alcoholic Beverages Historical Market: Breakup by End Use (USD Million), 2018-2023
5. South Korea Alcoholic Beverages Market Forecast: Breakup by End Use (USD Million), 2024-2032
6. South Korea Alcoholic Beverages Historical Market: Breakup by Distribution Channel (USD Million), 2018-2023
7. South Korea Alcoholic Beverages Market Forecast: Breakup by Distribution Channel (USD Million), 2024-2032
8. South Korea Alcoholic Beverages Market Structure
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