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Report
South Korea Beer Market Report and Forecast 2023-2028
Market Report I 2023-10-25 I 156 Pages I EMR Inc.
South Korea Beer Market Report and Forecast 2023-2028
Market Outlook
According to the report by Expert Market Research (EMR), the South Korea beer market reached a value of more than USD 19.32 billion in 2022. Aided by the growing consumer preference for premium and craft beers, along with the expanding brewery sector, the market is expected to grow at a CAGR of 4.6% between 2023 and 2028, reaching a value of USD 25.3 billion by 2028.
Beer, a popular alcoholic beverage globally, is made from fermented cereal grains, such as barley, wheat, corn, and rice, with hops providing the characteristic bitterness and flavour. South Korea, traditionally a soju-dominated market, has been seeing a gradual shift in alcohol preference with an increasing popularity of beer among the younger demographic.
The evolution of consumer preference is driving the South Korea beer market growth. Consumers are showing a shift from mass-market lagers to a more diverse range of beer styles, including ales, stouts, and IPAs. This shift is primarily due to the exposure to international beers, growing travel experiences, and an increasing interest in experiencing new tastes and flavours.
In addition, the rise of craft breweries in South Korea has significantly contributed to the South Korea beer market expansion. These breweries, with their small-scale operations, focus on quality, flavour, and traditional brewing methods. They offer an array of unique and innovative beers, ranging from classic Belgian-style ales to experimental brews, catering to the evolving consumer palette and the increasing demand for premium beers.
Moreover, the trend of pairing food with beer is also aiding in the South Korea beer market development. The tradition of "anju," or consuming food with alcohol, is deeply rooted in South Korean culture. With an increasing number of restaurants and pubs offering food pairings specifically designed for beer, this beverage is gaining further traction in the country.
Furthermore, the ease of accessibility to beer, with its wide availability in both on-trade and off-trade channels, is propelling the South Korea beer market. Supermarkets, convenience stores, online retail, pubs, and restaurants provide consumers with a variety of local and international beer brands. The growth of online sales channels, in particular, has made a wide range of beer styles and brands accessible to consumers across the country, even amidst the pandemic-induced restrictions.
Market Segmentation
The market can be divided based on packaging material, packaging type, and distribution channel.
Market Breakup by Packaging Material
- Glass
- Metal
- PET
Market Breakup by Packaging Type
- Bottle
- Can
- Others
Market Breakup by Distribution Channel
- Restaurants and Bars
- Retail
o Hypermarkets
o Convenience Stores
o Specialised Shops
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the South Korea beer companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Oriental Brewery
- Hite Brewery Company Limited
- Heineken N.V.
- Lotte Chilsung Beverage Co., LTD.
- LOTTE Asahi Co., Ltd.
- BK Co., Ltd.
- Magpie Brewing Co.
- Galmegi Brewing Co.
- Jeju Beer Co., 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 Beer Market Overview
8.1 Key Industry Highlights
8.2 South Korea Beer Historical Market (2018-2022)
8.3 South Korea Beer Market Forecast (2023-2028)
9 South Korea Beer Market by Packaging Material
9.1 Glass
9.1.1 Market Share
9.1.2 Historical Trend (2018-2022)
9.1.3 Forecast Trend (2023-2028)
9.2 Metal
9.2.1 Market Share
9.2.2 Historical Trend (2018-2022)
9.2.3 Forecast Trend (2023-2028)
9.3 PET
9.3.1 Market Share
9.3.2 Historical Trend (2018-2022)
9.3.3 Forecast Trend (2023-2028)
10 South Korea Beer Market by Packaging Type
10.1 Bottle
10.1.1 Market Share
10.1.2 Historical Trend (2018-2022)
10.1.3 Forecast Trend (2023-2028)
10.2 Can
10.2.1 Market Share
10.2.2 Historical Trend (2018-2022)
10.2.3 Forecast Trend (2023-2028)
10.3 Others
11 South Korea Beer Market by Distribution Channel
11.1 Restaurants and Bars
11.1.1 Market Share
11.1.2 Historical Trend (2018-2022)
11.1.3 Forecast Trend (2023-2028)
11.2 Retail
11.2.1 Market Share
11.2.2 Historical Trend (2018-2022)
11.2.3 Forecast Trend (2023-2028)
11.2.4 Breakup by Type
11.2.4.1 Hypermarkets
11.2.4.2 Convenience Stores
11.2.4.3 Specialised Shops
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 Value Chain Analysis
14 Trade Data Analysis (HS Code - 2203)
14.1 Major Importing Countries
14.1.1 By Volume
14.1.2 By Value
14.2 Major Exporting Countries
14.2.1 By Volume
14.2.2 By Value
15 Price Analysis
16 Regulatory Information
17 Competitive Landscape
17.1 Market Structure
17.2 Company Profiles
17.2.1 Oriental Brewery
17.2.1.1 Company Overview
17.2.1.2 Product Portfolio
17.2.1.3 Demographic Reach and Achievements
17.2.1.4 Certifications
17.2.2 Hite Brewery Company Limited
17.2.2.1 Company Overview
17.2.2.2 Product Portfolio
17.2.2.3 Demographic Reach and Achievements
17.2.2.4 Certifications
17.2.3 Heineken N.V.
17.2.3.1 Company Overview
17.2.3.2 Product Portfolio
17.2.3.3 Demographic Reach and Achievements
17.2.3.4 Certifications
17.2.4 Lotte Chilsung Beverage Co., LTD.
17.2.4.1 Company Overview
17.2.4.2 Product Portfolio
17.2.4.3 Demographic Reach and Achievements
17.2.4.4 Certifications
17.2.5 LOTTE Asahi Co., Ltd.
17.2.5.1 Company Overview
17.2.5.2 Product Portfolio
17.2.5.3 Demographic Reach and Achievements
17.2.5.4 Certifications
17.2.6 BK Co.,Ltd.
17.2.6.1 Company Overview
17.2.6.2 Product Portfolio
17.2.6.3 Demographic Reach and Achievements
17.2.6.4 Certifications
17.2.7 Magpie Brewing Co.
17.2.7.1 Company Overview
17.2.7.2 Product Portfolio
17.2.7.3 Demographic Reach and Achievements
17.2.7.4 Certifications
17.2.8 Galmegi Brewing Co.
17.2.8.1 Company Overview
17.2.8.2 Product Portfolio
17.2.8.3 Demographic Reach and Achievements
17.2.8.4 Certifications
17.2.9 Jeju Beer Co., Ltd.
17.2.9.1 Company Overview
17.2.9.2 Product Portfolio
17.2.9.3 Demographic Reach and Achievements
17.2.9.4 Certifications
17.2.10 Others
18 Key Trends and Developments in the Market
List of Key Figures and Tables
1. South Korea Beer Market: Key Industry Highlights, 2018 and 2028
2. South Korea Beer Historical Market: Breakup by Packaging Material, 2018-2022
3. South Korea Beer Market Forecast: Breakup by Packaging Material, 2023-2028
4. South Korea Beer Historical Market: Breakup by Packaging Type, 2018-2022
5. South Korea Beer Market Forecast: Breakup by Packaging Type, 2023-2028
6. South Korea Beer Historical Market: Breakup by Distribution Channel, 2018-2022
7. South Korea Beer Market Forecast: Breakup by Distribution Channel, 2023-2028
8. Major Importing Countries by Value
9. Major Exporting Countries by Value
10. Major Importing Countries by Volume
11. Major Exporting Countries by Volume
12. South Korea Beer Market Structure
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