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South Korea Alcoholic Beverages Market

South Korea Alcoholic Beverages Market Share, Size, Growth: By Type: Beer, Traditional Spirits, Whiskey, White Spirits, Wine, Rum, Tequila and Mescal, Liqueurs, Brandy and Cognac; By End Use: Pub, Bars, and Restaurants, Retail; By Distribution Channel: Hypermarkets and Supermarkets, Others; Competitive Landscape; 2024-2032

South Korea Alcoholic Beverages Market Outlook

The South Korea alcoholic beverages market size reached a value of more than USD 26.42 billion in 2023. The South Korea alcoholic beverages industry is expected to grow at a CAGR of 4.8% between 2024 and 2032, reaching a value of USD 40.31 billion by 2032.

 

south korea alcoholic beverages market

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Key Trends in the South Korea Alcoholic Beverages Market

Any fermented beverage that contains the intoxicating ingredient ethanol (CH3CH2OH), such as beer, wine, or distilled spirits, is considered to be an alcoholic beverage. Drinking, or the intake of alcoholic beverages, has a significant social significance in Korean culture.

 

Rising Demand for Premium Alcoholic Beverages to Boost the Market Growth in South Korea

The rise in the number of young adults throughout the world, the rise in disposable income, high living standards, and the rise in demand for a premium or high-end alcoholic beverages are what are fueling the expansion of the alcoholic beverage market in South Korea. Furthermore, millennials and generation Z consumers try to taste and experience new flavours and unique products which will also aid the market growth. The market development is anticipated to be constrained by the growing demand for non-alcoholic drinks, which is driven by rising health concerns.

 

Craft Beer is Gaining Traction While Soju Continues to Hold its Dominance in South Korea

The rising popularity of craft beer has led to the emergence of numerous craft breweries in the country, offering a wide range of styles and flavours to customers. Many international players have also entered the market, making the alcoholic beverage market quite competitive in South Korea. Apart from beer, one of the most consumed alcoholic beverages in South Korea is soju, a traditional Korean alcohol that is widely consumed by the old generation as well as the young generation. Variants such as fruit-flavoured soju and low-alcohol beer are also gaining traction in the country.

 

Market Analysis

 

south korea alcoholic beverages market by segments

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Based on type, the South Korea alcoholic beverages market is segmented into beer, traditional spirits, whiskey, white spirits, wine, rum, tequila and mescal, liqueurs, and brandy and cognac. The traditional spirits segment is sub segmented into Shochu/soju and maesilju, among others. The white spirits segment is sub-divided into vodka and gin. The wine segment if further classified into red wine, white wine, and sparkling wine. On the basis of distribution channel, the alcoholic beverages market is bifurcated into hypermarkets and supermarkets, convenience stores, specialty stores, and department stores, among others. 

 

  • 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

 

Market Share by Type

The increasing disposable income, government regulations, and changing consumer behaviour are shaping the alcoholic drinks market in South Korea.  The demand for unique, flavoured, premium and healthier variants will continue to propel during the forecast period. Soju, which is a distilled spirit, has alcoholic content ranging from 16%-53% and holds a significant market share followed by beer. Some of the most prominent brands are Hite, OB, and Cass, among others. Other alcoholic drinks such as brandy, whiskey, and wine are also available in South Korea but they're very costly and less popular than beer and soju. However, bars and restaurants offer various mixed drinks and cocktails which are also in vogue among the young generation in South Korea.

 

Market Share by Distribution Channel

Alcohol is easily available at offline retail stores such as supermarkets, convenience stores, department stores, among others. Several producers of sell the alcoholic beverages directly to the consumers via their offline and online stores. Existing alcoholic beverage businesses are continuously developing plans to either introduce their own craft beer line or buy out rival brands or labels. They now have access to various marketing strategies and small brewers' distribution networks. Producers of alcoholic beverages are enhancing their sales and distribution methods, including online and retail shops. This has a large positive impact on the market for alcoholic beverages.

 

south korea alcoholic beverages market report

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Competitive Landscape

Heineken NV- Dutch brewing business Heineken N.V. is headquartered in Amsterdam. Heineken is the world's second-largest beer manufacturer and Gerard Adriaan founded it in the year 1864. Around 170 beer brands, including Heineken, Tiger Beer, Strongbow, Amstel, Zagorka, and Dos Equis, are owned by Heineken International.

 

Asahi Group Holdings Ltd- The Osaka Beer Company, the predecessor to Asahi, was established in Osaka in 1889. Alcoholic beverages, soft drinks, and food items are produced, marketed, and sold by Asahi Group Holdings Ltd. Whiskey, tea, spirits, wine, ready-to-drink (RTD) beverages, coffee, beer, water, carbonated drinks, and fruit drinks are among the company's product offerings. The business sells its goods both domestically and abroad.

 

Key Highlights of the Report

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:

  • Type
  • End Use
  • Distribution Channel
Breakup by Type
  • Beer
  • Traditional Spirits
  • Whiskey
  • White Spirits
  • Wine
  • Rum
  • Tequila and Mescal
  • Liqueurs
  • Brandy and Cognac
Breakup by End Use
  • Pub, Bars, and Restaurants
  • Retail
Breakup by Distribution Channel
  • Hypermarkets and Supermarkets
  • Convenience Stores
  • Speciality Stores
  • Department Stores
  • Others
Market Dynamics
  • SWOT Analysis 
  • Porter's Five Forces Analysis 
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • 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

 

*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.

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    Historical Trend (2018-2023)
        9.1.2    Forecast Trend (2024-2032)
        9.1.3    Breakup by Packaging Type
            9.1.3.1    Bottle
            9.1.3.2    Can
    9.2    Traditional Spirits
        9.2.1    Historical Trend (2018-2023)
        9.2.2    Forecast Trend (2024-2032)
        9.2.3    Breakup by Type
            9.2.3.1    Shochu/soju
            9.2.3.2    Maesilju
            9.2.3.3    Others
    9.3    Whiskey
        9.3.1    Historical Trend (2018-2023)
        9.3.2    Forecast Trend (2024-2032)
    9.4    White Spirits
        9.4.1    Historical Trend (2018-2023)
        9.4.2    Forecast Trend (2024-2032)
        9.4.3    Breakup by Type
            9.4.3.1    Vodka
            9.4.3.2    Gin
    9.5    Wine
        9.5.1    Historical Trend (2018-2023)
        9.5.2    Forecast Trend (2024-2032)
        9.5.3    Breakup by Type
            9.5.3.1    Red Wine
            9.5.3.2    White Wine
            9.5.3.3    Sparkling Wine
    9.6    Rum
        9.6.1    Historical Trend (2018-2023)
        9.6.2    Forecast Trend (2024-2032)
    9.7    Tequila and Mescal
        9.7.1    Historical Trend (2018-2023)
        9.7.2    Forecast Trend (2024-2032)
    9.8    Liqueurs
        9.8.1    Historical Trend (2018-2023)
        9.8.2    Forecast Trend (2024-2032)
    9.9    Brandy and Cognac
        9.9.1    Historical Trend (2018-2023)
        9.9.2    Forecast Trend (2024-2032)
10    South Korea Alcoholic Beverages Market by End Use
    10.1    Pub, Bars, and Restaurants
        10.1.1    Historical Trend (2018-2023)
        10.1.2    Forecast Trend (2024-2032)
    10.2    Retail
        10.2.1    Historical Trend (2018-2023)
        10.2.2    Forecast Trend (2024-2032)
11    South Korea Alcoholic Beverages Market by Distribution Channel
    11.1    Hypermarkets and Supermarkets
        11.1.1    Historical Trend (2018-2023)
        11.1.2    Forecast Trend (2024-2032)
    11.2    Convenience Stores
        11.2.1    Historical Trend (2018-2023)
        11.2.2    Forecast Trend (2024-2032)
    11.3    Speciality Stores
        11.3.1    Historical Trend (2018-2023)
        11.3.2    Forecast Trend (2024-2032)
    11.4    Department Stores
        11.4.1    Historical Trend (2018-2023)
        11.4.2    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

Key Questions Answered in the Report

In 2023, the South Korea alcoholic beverages market attained a value of nearly USD 26.42 billion.

The market is projected to grow at a CAGR of 4.8% between 2024 and 2032.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 40.31 billion by 2032.

The increasing disposable income, changing consumer behaviour, high living standards, government regulations, and the launch of new flavours and unique products are the major industry drivers.

The rising popularity of craft beer, rise in demand for a premium or high-end alcoholic beverages, and high preference for soju and beer are the key trends of the South Korea alcoholic beverages market.

The dominant type of alcoholic beverages in the industry are beer, traditional spirits, whiskey, white spirits, wine, rum, tequila and mescal, liqueurs, and brandy and cognac.

The leading distribution channels in the market are hypermarkets and supermarkets, convenience stores, specialty stores, and department stores, among others.

The major players in the industry 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.

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