Spirits in South Korea industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value and volume 2019-24, and forecast to 2029). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Key Highlights
- The spirits market consists of the sale of whiskey, vodka, brandy, liqueurs, rum, gin & genever, and others. The scope of others includes tequila & mezcal, local spirits, and non - alcoholic spirits drinks.
- The South Korean spirits market recorded revenues of $8.20 billion in 2024, representing a negative compound annual growth rate (CAGR) of 4.6% between 2019-24.
- Market consumption volumes declined with a negative CAGR of 0.05% between 2019-24, reaching a total of 1.53 billion liters in 2024.
- The contraction of the South Korean spirits market during 2019-24, primarily due to domestic consumer behaviour and cultural shifts significantly dampened traditional spirits consumption driven by declining participation in heavy social drinking occasions like after-work gatherings and nightlife, a steady drop in per-capita alcohol intake, and growing health and wellness awareness among younger consumers who increasingly moderate their drinking or opt for low-ABV or alternative beverages rather than traditional spirits.
Report Scope
- Save time carrying out entry-level research by identifying the size, growth, and leading players in the spirits market in South Korea
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the spirits market in South Korea
- Leading company profiles reveal details of key spirits market players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the South Korea spirits market with five year forecasts by both value and volume
Reasons to Buy
- What was the size of the South Korea spirits market by value in 2024?
- What will be the size of the South Korea spirits market in 2029?
- What factors are affecting the strength of competition in the South Korea spirits market?
- How has the market performed over the last five years?
- Who are the top competitors in South Korea's spirits market?
Table of Contents
1 Executive Summary
2 Market Overview
3 Market Data
4 Market Segmentation
5 Market Outlook
6 Five Forces Analysis
7 Competitive Landscape
8 Company Profiles
9 Macroeconomic Indicators
10 Appendix
List of Tables
List of Figures
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Hite Jinro Co Ltd
- Lotte Chilsung Beverage Co Ltd
- Lotte Co Ltd
- Muhak Co.,Ltd.
