South Korea exhibits a distinct social phenomenon regarding alcohol consumption. Compared to other countries, South Korea boasts a slightly higher per capita alcohol intake. This can be attributed, in part, to the deep integration of drinking into the country's social fabric. Alcoholic beverages are often seen as a crucial element of social interaction and are frequently encouraged during gatherings with friends, family, and even business associates.
An evolving consumer palate, with a marked shift towards premium and craft offerings, reflects a growing desire for more refined flavours, higher quality ingredients, and unique drinking experiences. This has spurred innovation within the market, with established brands expanding their premium ranges and a surge in the popularity of craft breweries and distilleries.
Furthermore, the South Korea alcoholic beverages market growth is benefitting from the diversification of consumer preferences. Health-conscious consumers are driving the demand for low- and no-alcohol options, while others seek out unique flavour profiles and imported brands. This presents exciting opportunities for both domestic and international players in the market.
Rising disposable income among consumers is fuelling a significant surge in demand for high-end and luxury alcoholic products. This shift in consumer preference, towards premium offerings, is further propelling the market expansion.
Heineken NV (OTCMKTS: HEINY), a leading global brewer, established a strong presence in South Korea with the founding of Heineken Korea. Headquartered in Seoul with five strategically located branches, Heineken Korea has played a pivotal role in shaping the domestic imported beer market. The company offers a diverse portfolio catering to a variety of consumer preferences. This includes regional and local specialities, allowing them to cater to a wider audience and adapt to evolving tastes.
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The major players in the South Korea alcoholic beverages market are 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., and Asahi Group Holdings Ltd, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Type |
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Breakup by End Use |
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Breakup by Distribution Channel |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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Vietnam
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