South Korea Spirits Market Size and Trend Analysis by Categories and Segment, Distribution Channel, Packaging Formats, Market Share, Demographics and Forecast, 2021-2026
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The South Korea spirits market size was KRW10.1 trillion ($8.9 billion) in 2021. The market is expected to achieve a CAGR of more than 2% during 2021-2026. The South Korea spirits market was led by specialty spirits category in value terms in 2021. Food & drinks specialists was the largest distribution channel while glass was the most used pack material for spirits in the country.
The South Korea spirits market research report provides insights on high-growth markets to target, trends in the usage of packaging materials, types and closures category level distribution data, and companies’ market shares.
South Korea Spirits Market Outlook
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South Korea Spirits Market Segmentation by Top Cities
The top seven cities in the South Korean spirits sector are Seoul, Busan, Incheon, Daegu, Daejeon, Gwangju, and Ulsan. Seoul emerged as the largest spirits market in South Korea, followed by Busan and Incheon.
South Korea Spirits Market Analysis, by Top Cities
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South Korea Spirits Market Segmentation by Category
The key categories in the South Korea spirits market are brandy, flavored alcoholic beverages, gin & genever, liqueurs, rum, specialty spirits, tequila & mezcal, vodka, and whiskey. The flavored alcoholic beverages is forecast to register the fastest value growth during 2021-2026.
South Korea Spirits Market Analysis, by Categories
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South Korea Spirits Market Segmentation by Distribution Channel
The key distribution channels in the South Korea spirits market are food and drinks specialists, on-trade, and hypermarkets and supermarkets. Food & drinks specialists was the leading distribution channel in the South Korea spirits sector in 2021.
South Korea Spirits Market Analysis, by Distribution Channel
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South Korea Spirits Market Segmentation by Packaging Material
The key packaging materials in the South Korea spirits market are glass, rigid metal, and rigid plastics. Glass was the most used pack material in the South Korea spirits sector.
South Korea Spirits Market Analysis, by Packaging Material
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South Korea Spirits Market - Competitive Landscape
Some of the leading companies in the South Korea spirits market are Hite Jinro Co. Ltd, LOTTE CHILSUNG BEVERAGE CO., LTD, Muhak Co. Ltd., Kumbokju Co. Ltd., and Daesun Distilling Co. Ltd. Hite Jinro Co., Ltd accounted for the largest South Korea spirits market share by volume in 2021.
South Korea Spirits Market Analysis, by Companies
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South Korea Spirits Market Overview
| Market Size 2021 | KRW10.1 trillion ($8.9 billion) |
| CAGR (2021-2026) | >2% |
| Key Cities | Seoul, Busan, Incheon, Daegu, Daejeon, Gwangju, and Ulsan |
| Key Categories | Brandy, Flavored Alcoholic Beverages, Gin & Genever, Liqueurs, Rum, Specialty Spirits, Tequila & Mezcal, Vodka, and Whiskey |
| Key Distribution Channels | Food and Drinks Specialists, On-Trade, and Hypermarkets and Supermarkets |
| Key Packaging Materials | Glass, Rigid Metal, and Rigid Plastics |
| Leading Companies | Hite Jinro Co. Ltd, LOTTE CHILSUNG BEVERAGE CO., LTD, Muhak Co. Ltd., Kumbokju Co. Ltd., and Daesun Distilling Co. Ltd |
Scope
This report provides:
- Overall sector value and volume data with growth analysis.
- Value and growth analysis for brandy, flavored alcoholic beverages, gin & genever, liqueurs, rum, specialty spirits, tequila & mezcal, vodka and whiskey with inputs on individual segment share within each category and the change in their market share forecast for 2021-2026.
- Market share of companies and private labels in 2021.
- Percentage of sales within each category through distribution channels such as cash & carries & warehouse clubs, convenience stores, department stores, food & drinks specialists, hypermarkets & supermarkets, e-retailers, “dollar stores”, variety stores & general merchandise retailers, vending machines, drug stores & pharmacies, health & beauty stores and other general retailers.
- Consumption breakdown for package materials and pack types in each category in terms of percentage share of the number of units sold, pack material data, pack type, closure type, and primary outer type.
Key Highlights
- Per capita consumption and per capita expenditure of spirits were higher in South Korea than both the global and regional levels in 2021
- The per capita consumption of Specialty spirits was higher than other spirits categories in South Korea, in 2021
- Food & drinks specialists is the leading distribution channel in the South Korea spirits sector
- Specialty spirits recorded the highest volume sales across leading cities in South Korea
- “Older young adults” represent the largest subset of the spirits sector in South Korea
Reasons to Buy
- Identify high-potential categories and explore further market opportunities based on detailed value and volume analysis
- Existing and new players can analyze key distribution channels to identify and evaluate trends and opportunities
- Gain an understanding of the total competitive landscape based on detailed company share analysis to plan effective market positioning
- Our team of analysts have placed a significant emphasis on changes expected in the market that will provide a clear picture of the opportunities that can be tapped over the next five years, resulting in revenue expansion
- The packaging analysis report helps manufacturers, in identifying the most commonly used packaging materials in the sector
- Analysis of key macroeconomic indicators such as real GDP, nominal GDP, consumer price index, household consumption expenditure, and population. It also includes an economic summary of the country along with the labor market and demographic trends.
Muhak Co.,Ltd.
Kumbokju Co.,Ltd.
Daesun Distilling Co. Ltd.
Ipsaeju
Maechuisoon
Diageo plc
Bacardi Ltd
Davide Campari-Milano N.V.
Brown-Forman Corporation
Table of Contents
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Figures
Frequently asked questions
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What was the South Korea spirits market size in 2021?
The South Korea spirits market size was at KRW10.1 trillion ($8.9 billion) in 2021.
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What is the South Korea spirits market growth rate?
The South Korea spirits market is expected to achieve a CAGR of more than 2% during 2021-2026.
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Which are the key cities in the South Korea spirits market?
The key cities in the South Korea spirits market are Seoul, Busan, Incheon, Daegu, Daejeon, Gwangju, and Ulsan.
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What are the key categories of the South Korea spirits market?
The key categories in the South Korean spirits market are brandy, flavored alcoholic beverages, gin & genever, liqueurs, rum, specialty spirits, tequila & mezcal, vodka, and whiskey.
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What are the key distribution channels of the South Korea spirits market?
The key distribution channels in the South Korea spirits market are food and drinks specialists, on-trade, and hypermarkets and supermarkets.
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What are the key packaging materials used in the South Korea spirits market?
The key packaging materials used in the South Korea spirits market are glass, rigid metal, and rigid plastics.
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Which are the leading companies in the South Korea spirits market?
Some of the leading spirits companies in South Korea are Hite Jinro Co. Ltd, LOTTE CHILSUNG BEVERAGE CO., LTD, Muhak Co. Ltd., Kumbokju Co. Ltd., and Daesun Distilling Co. Ltd.
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