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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
South Korea Alcoholic Beverages Market Share
Wine contributes to the South Korea alcoholic beverages market growth as wine is progressively intertwining with South Korean social and dining customs, shaped by the emergence of wine-focused dining venues and wine festivals.
The demand for premium and high-quality wines is on the rise among South Korean consumers, who are willing to invest more for exceptional flavour and genuine quality. Moreover, wine is seen as a healthier option compared to other alcoholic drinks because of its lower alcohol content and potential health advantages, like the presence of antioxidants in red wine.
Traditional spirits like soju and makgeolli possess deep cultural significance in South Korea. Despite their traditional origins, there have been advancements in both the production and marketing of traditional spirits to accommodate shifting consumer preferences.
Pubs, bars, and restaurants drive growth in the South Korea alcoholic beverages market share by offering a diverse range of alcoholic beverages, including local and international beers, wines, spirits, and cocktails.
Numerous pubs, bars, and restaurants organise promotions, happy hours, and special events focused on alcoholic beverages. These activities draw in customers, boost foot traffic, and stimulate consumption, resulting in heightened sales and revenue.
Retail outlets offer convenience by providing one-stop shopping for alcoholic beverages along with other grocery and household items. Moreover, retailers seize the premiumization trend by providing a carefully curated array of upscale and speciality alcoholic beverages, catering to consumers seeking quality, craftsmanship, and distinctive drinking encounters.
South Korea Alcoholic Beverages Market Report Snapshots
South Korea Alcoholic Beverages Market Size
South Korea Alcoholic Beverages Market Growth
South Korea Alcoholic Beverages Market Trends
South Korea Alcoholic Beverages Market Share
South Korea Alcoholic Beverages Manufacturers
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market was valued at USD 26.42 billion in 2023.
The market is projected to grow at a CAGR of 4.8 % between 2024 and 2032.
The revenue generated from the South Korea alcoholic beverages market is expected to reach USD 40.31 billion in 2032.
The market is categorised according to the type, which includes beer, traditional spirits, whiskey, white spirits, wine, rum, tequila and mescal, liqueurs, and brandy and cognac.
The market key players are Diageo Plc, Lotte Chilsung Beverage Co., Ltd., Casillero del Diablo, Pernod Richard S.A., Anheuser-Busch InBev NV, HiteJinro Co., Ltd, Heineken NV, Oriental Brewery Co., Anheuser-Busch InBev SA/NV, Carlsberg A/S, Jeju Beer Co., Ltd., Beam Suntory Inc, Muhak Co Ltd, Molson Coors Beverage Company, and Asahi Group Holdings Ltd, among others.
Based on the end-use, the market is divided into pubs, bars, restaurants, and retail.
Based on the distribution channel, the market is divided into hypermarkets and supermarkets, convenience stores, speciality stores, department stores and others.
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United States (Head Office)
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Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124