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South Korea Beer Market Share, Size, Growth, Analysis, Forecast: By Packaging Material: Glass, Metal, PET; By Packaging Type: Bottle, Can, Others; By Distribution Channel: Restaurants and Bars, Retail; Market Dynamics: SWOT Analysis; Value Chain Analysis; Competitive Landscape; Key Trends and Developments in the Market; 2023-2028

South Korea Beer Market Outlook

The South Korea beer market size reached a value of more than USD 20.21 billion in 2022. The South Korea beer industry is expected to grow at a CAGR of 4.6% between 2023 and 2028, reaching a value of USD 26.48 billion by 2028.

 

Key Trends in the South Korea Beer Market

Beer is an alcoholic beverage with a frothy texture and a flavour of malt. Beer is the alcoholic beverage that is most often consumed worldwide, and it is also said to be the oldest. By fermenting a grain, typically barley or wheat, and adding hops or any other flavours, brewers create beer.

 

One of Asia's biggest beer markets is said to be the Korean market. Given the country's population and reputation for soju consumption, this may come as a surprise. But when it comes to beer consumption, Korea is among the top 20 countries, and it is the most popular alcoholic beverage, followed by soju.

 

Drink Culture and Work Gatherings Propels the Growth of South Korea Beer Market

In South Korea, drinking is a significant aspect of daily life. Alcohol is consumed regularly as well as on special occasions in a private setting. This culture has always been ingrained in Korean society, and especially in professional settings, alcohol is consumed very frequently. Coworkers go out frequently as people go for meals and beverages after work. It is thought to be a crucial component in team building and forming bonds with fellow coworkers. People in Korea work around 12 hours a day. Employees, therefore, spend more time at work than at home. Additionally, the corporate culture in Korea is considered to be quite hierarchical, and consuming alcohol during after-hours work gatherings may loosen up these rigid top-down networks, which aids in bolstering the beer market in South Korea.

 

Craft Beer is Gaining Traction Among the Younger Population Due to the Expansion of Microbreweries in South Korea

Koreans are encouraged to drink expensive beer by well-known beer companies and craft beer startups. Craft beers may generate more revenue than conventional beers. Due to the enormous potential, craft beer businesses in South Korea have been steadily growing. In addition, there are now more microbreweries in South Korea. These smaller companies are making some of the most intriguing and distinctive craft beers, and they are gradually becoming successful. People's willingness to try new things is another factor. Customers may explore a huge variety of beer styles and flavour nuances with craft beer. Additionally, customers who are younger are more likely to enjoy craft beer in a bar or restaurant.

 

The Volume-Based Liquor Tax and the Growing Inclination for Premium Beer to Augment the Market Growth

Beer is now considered a lifestyle product, which is increasing its popularity, particularly among young people. The beer market in South Korea is becoming more varied. Local consumers are calling for more variety in beer goods, supported by increased consumer awareness of the various beer assortments, active product innovation initiatives by domestic and international brewers, and accelerated premiumization. Millennials are becoming increasingly interested in ales, fruit beers, and dark beers. They can currently afford the more costly, premium beers they desire. On January 1, 2020, the Korean government implemented a volume-based liquor tax on beer, which lowers the tax burden for higher grade beers, including imported craft beer from the United States. In the upcoming years, development potential for American beer exports to Korea should result from the tax reform as well as rising Korean consumption patterns for quality and variety.

 

Market Analysis

Based on the packaging material, the South Korea beer market is segmented into glass, metal, and PET. On the basis of packaging type, the beer market of South Korea is divided into bottle and can, among others. Based on distribution channel, the South Korea beer market is bifurcated into retail and restaurants and bars. The retail segment is sub-segmented into hypermarkets, convenience stores, and specialised shops.

 

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the South Korea beer market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans. 

 

  • 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

 

Market Share by Packaging Material

As drinking is viewed as a significant component of social life and is frequently promoted at social and professional occasions, the beer sector in South Korea has a lot of potential. Despite the fact that older people are drinking less owing to health concerns, overall alcohol consumption is still high because of young consumers. Moreover, the growing consumer awareness regarding the environment, rising disposable income, and ease of convenience aid the market growth. Since beer is consumed in almost every personal and professional setting, the market for all types of packaging materials, i.e., glass, metal, and PET, is anticipated to grow during the forecast period.

 

Market Share by Packaging Type

A highly popular option for beer packaging is canning. Numerous significant breweries have opted to package their beers in cans, occasionally in conjunction with bottling. Cans lack the same sense of heritage that comes with bottles, but they seem more modern, creative, and simple. If the manufacturer wants to pack a beer aimed at a young audience, this is the best option. Glass is visually attractive, natural, and hygienic. The bottle packaging is retained by producers that run microbreweries and wish to come off as skilled artisans carrying on a long history. Factors such as intensive social media marketing and promotion activities, premiumisation of beer have greatly contributed to increasing the revenue of beer in South Korea.

 

Market Share by Distribution Channel

Offline stores such as supermarkets/hypermarkets and convenience stores put a strong emphasis on high quality, and various brands of food and beverages are available there. Consumers get to opt for varieties at competitive prices. Korea is a technologically advanced country with one of the most developed online retail distribution channels. With the changing lifestyle and busy schedule, the online segment is growing significantly in the country, leading to the development of the beer market in South Korea.

 

Competitive Landscape

Oriental Brewery- Oriental Brewery, a part of AB InBev, is South Korea's largest brewer. Oriental Brewery, often known as OB, has a market share of almost 50% of the beer market in South Korea based on sales income. In addition to a variety of other top-selling mainstream beers like OB Golden Lager and Cafri, Oriental Brewery distributes the well-known beer brand Cass, which was the top-selling beer brand in South Korea in 2019. Additionally, a large number of AB InBev brands, including Beck's, Budweiser (in cans), Leffe, Corona, Stella Artois, and Löwenbräu are imported and distributed by the business in Korea. The business is headquartered in Cheongju, South Korea.

 

Magpie Brewing Co.- Local craft beer producer Magpie is from South Korea. With the straightforward objective of producing excellent, distinctive beer, Magpie Brewing Company was founded in 2011. The business designed its first two formulations, Magpie Pale Ale and Magpie Porter, to be flavorful but simple to drink. The company is known for their range of craft beers and for popularising the concept in the country. The headquarters of Magpie Brewing Co. is situated in Seoul, South Korea.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2022
Historical Period 2018-2022
Forecast Period 2023-2028
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Packaging Material
  • Packaging Type
  • Distribution Channel
Breakup by Packaging Material
  • Glass
  • Metal
  • PET
Breakup by Packaging Type
  • Bottle
  • Can
  • Others
Breakup by Distribution Channel
  • Restaurants and Bars
  • Retail
Market Dynamics
  • SWOT
  • Porter's Five Forces
  • Key Indicators for Demand
  • Key Indicators for Price
Trade Data Analysis
  • Major Exporting Countries
    • By Value
    • By Volume
  • Major Importing Countries
    • By Value
    • By Volume
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • 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

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR 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

Key Questions Answered in the Report

In 2022, the South Korea beer market attained a value of nearly USD 20.21 billion.

The market is projected to grow at a CAGR of 4.6% between 2023 and 2028.

The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach USD 26.48 billion by 2028.

The growing popularity of craft beer, rising disposable income, high standards of living, innovative product launches, high demand, consumer awareness, and drink culture are the major drivers of the beer industry in South Korea.

The implementation of a volume-based liquor tax on beer as well as premiumization are the key trends in the South Korean beer market.

The dominant types of beer packaging in the industry are bottle and cans.

The leading distribution channels in the market are into retail and restaurants and bars.

The major players in the industry 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., and Jeju Beer Co., Ltd, among others.

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