IMARC Group has recently released a new research study titled “South Korea Alcoholic Beverages Market Report by Product Type (Beer, Wine, Spirits, and Others), Alcoholic Content (High, Medium, Low), Flavour (Unflavored, Flavored), Packaging Type (Glass Bottles, Tins, Plastic Bottles, and Others), Distribution Channel (Hypermarkets and Supermarkets, Convenience Stores, Speciality Stores, Department Stores, and Others), and Region 2025-2033”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios.

South Korea Alcoholic Beverages Market Overview

The South Korea Alcoholic Beverages Market size was valued at USD 30.7 Billion in 2024 and is projected to reach USD 36.7 Billion by 2033. It is expected to grow at a CAGR of 1.8% during the forecast period from 2025 to 2033. Market growth is driven by rising disposable incomes leading to increased demand for premium and imported alcoholic drinks, an expanding social drinking culture, and innovative products such as flavored soju and craft beers.

Study Assumption Years

• Base Year: 2024
• Historical Year/Period: 2019-2024
• Forecast Year/Period: 2025-2033

South Korea Alcoholic Beverages Market Key Takeaways

• Current Market Size: USD 30.7 Billion in 2024
• CAGR: 1.8%
• Forecast Period: 2025-2033
• Rising disposable incomes boost demand for premium and imported drinks.
• Expanding social drinking culture supports increased consumption.
• Product innovations such as flavored soju and craft beer varieties attract consumers.
• High competition exists in the soju segment.
• Increasing consumer interest in premium and high-quality beverages offers opportunities.

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Market Growth Factors

The South Korean alcoholic beverages market growth is primarily driven by rising disposable incomes. In 2024, South Korea's household disposable income per capita is expected to be nearly $19.36k, and overall consumer spending is projected at US$0.84 trillion. These factors have increased the demand for premium and imported alcoholic products such as fine wines, craft beers, and high-end spirits, positively impacting market growth.

An expanding social drinking culture significantly contributes to market demand. In 2019, South Korea had nearly 115 thousand bars and pubs, and venues authorized to sell alcoholic beverages generated sales revenue of approximately 11.88 trillion South Korean won. The vibrant nightlife and popularity of drinking establishments such as bars, pubs, and restaurants drive alcohol consumption in the country.

Innovation within the product segment also fuels market expansion. Introduction of flavored soju, low-alcohol beverages, and new craft beer varieties attract a broader consumer base. For instance, Korean Air launched its craft beer, KAL's Lager, in July 2023. This continuous product innovation helps maintain market dynamism and consumer interest.

Market Segmentation

• Product Type:
• Beer: Increased craft beer culture with demand for unique and artisanal beers.
• Wine: Higher spending on premium and imported wines drives growth.
• Spirits: Rising demand for premium and imported spirits such as whiskey, vodka, and rum.
• Alcoholic Content:
• High: Premium and imported spirits associated with quality and status.
• Medium: Includes wine and standard-strength beers, favored for perceived health benefits.
• Low: Growing trend towards low-alcohol and non-alcoholic options for health-conscious consumers.
• Flavour:
• Unflavoured: Includes culturally rooted beverages like soju and beer; spirits like vodka and whiskey popular.
• Flavoured: Novel tastes such as fruit-infused liqueurs align with health-conscious trends.
• Packaging Type:
• Glass Bottles: Used for premium products like wines, spirits, and craft beers.
• Tins: Lightweight, durable, portable, ideal for outdoor and casual consumption.
• Plastic Bottles: Cost-effective option often passing cost advantages to consumers.
• Distribution Channel:
• Hypermarkets and Supermarkets: Wide range and bulk purchasing options.
• Convenience Stores: Quick access for on-the-go alcoholic beverage purchases.
• Speciality Stores: Curated selections of unique and premium beverages.
• Department Stores: High-end and luxury alcoholic beverages for gifts or personal indulgence.
• Region:
• Seoul Capital Area
• Yeongnam (Southeastern Region)
• Honam (Southwestern Region)
• Hoseo (Central Region)
• Others

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Regional Insights

The dominant region in the South Korea Alcoholic Beverages Market is the Seoul Capital Area. It has a large, diverse population with varied preferences driving high demand for a wide range of alcoholic beverages including craft beers, premium spirits, and imported wines. The region's high-income population and strong consumer spending power significantly contribute to market growth.

Recent Developments & News

• February 2024: Chuu, former LOONA member and Korean soloist, launched 'Chuu-HI,' a new canned beverage composed of diluted soju, carbonated water, and fruit juice.
• February 2024: A South Korean balladeer introduced "Kyungtakju," a Korean rice wine with 12% alcohol content under the liquor brand Kyung.
• November 2023: Lotte Chilsung Beverage Co. launched Chum Churum X Pine Eye, a ready-to-drink soju-based highball with Pine Eye extract in 500ml cans.

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