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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
South Korea Coffee Market Growth
Busy Lifestyle and the Availability of a Variety of Instant Coffees to aid the Growth of the South Korea Coffee Market
Coffee consumption is linked with productivity. To cope with the workload and stress, people drink coffee daily. It also promotes creativity and concentration and provides instant energy. Due to hectic lifestyles, people are increasingly using quick and easy-to-make coffee options like coffee pods, capsules, and instant coffee to make quality coffee at home in less time which boosts the South Korea coffee market demand. Roasters and other home brewing tools are only two examples of the many innovative inventions in the coffee industry today. Due to their constant search for new restaurants and bars, millennials and Generation Z make an excellent demographic target.
Koreans have a remarkable taste for specialty coffee, as evidenced by award-winning baristas, which have also boomed the popularity among people. As the number of specialty coffee shops increases, the demand for premium coffee increases, which further boosts the growth of the South Korea coffee market. Customers are willing to pay for the high-quality coffee that has become a medium for socialising, supporting the rise of local and international franchise coffee shops. Coffee shops like Starbucks, Costa, and Café Coffee Day prosper as a result.
South Korea Coffee Report Snapshots
South Korea Coffee Market Size
South Korea Coffee Market Growth
South Korea Coffee Market Trends
South Korea Coffee Market Analysis
*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
During 2018-2023, the coffee market attained a value of nearly USD 12.46 billion.
The South Korea coffee market is projected to grow at a CAGR of 9.7% between 2024 and 2032.
Busy lifestyles, increasing health awareness, celebrity influence, social media, and access to ready-to-drink coffee are the major drivers.
The inclination toward organic and sustainable coffee and technological innovation are the key industry trends.
The dominant type of coffee in the industry are Arabica and Robusta.
The leading distribution channels in the market are Hypermarkets/Supermarkets, convenience Stores, speciality stores, and online stores among others.
The major players in the South Korea coffee industry are Dong Suh Companies Inc., Namyang Dairy Products Co. Ltd, LOTTE-Nestlé Korea Co., Ltd, Starbucks Corporation, Ediya Co., Ltd., and LUIGI LAVAZZA SPA among others.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 28.7 billion by 2032.
COVID-19 slowed down the growth of the market.
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