Alcoholic Drinks - South Korea | Statista Market Forecast

Revenue, at home (e.g., revenue generated in supermarkets and convenience stores) in the Alcoholic Drinks market amounts to US$9.6bn in 2024.
Revenue, out-of-home (e.g., revenue generated in restaurants and bars) amounts to US$8.4bn in 2024.
Revenue, combined amounts to US$18.0bn in 2024.
The revenue, at home is expected to grow annually by 0.67% (CAGR 2024-2029).
In global comparison, most revenue, at home is generated China (US$208bn in 2024).
In relation to total population figures, the average revenue per capita, at home of US$186.10 are generated in 2024.
In the Alcoholic Drinks market, volume, at home is expected to amount to 1.9bn L by 2024.
Volume, out-of-home is expected to amount to 772.9m L in 2024.
Volume, combined is expected to amount to 2.7bn L in 2024.
The Alcoholic Drinks market is expected to show a volume growth, at home of -2.2% in 2025.0.
The average volume per person, at home in the Alcoholic Drinks market is expected to amount to 37.30L in 2024.

Definition:

The Alcoholic Drinks market includes all alcoholic beverages that are produced by fermentation or distillation.

Structure:

The Alcoholic Drinks market is divided into 5 markets:

The Beer market encompasses fermented beverages based on malt. The Beer market is further divided into the markets Alcoholic Beer and Non-Alcoholic Beer.
The Spirits market encompasses alcoholic beverages that are produced through the distillation of wine, fermented fruits, or grains. It contains the Whisky, Vodka, Rum, Gin, Brandy, Soju, Tequila, and Liqueurs & Other Spirits markets.
The Wine market encompasses all fermented juices made from grapes. The Wine market is further divided into Still Wine (Red Wine, White Wine, and Rosé Wine), Sparkling Wine, and Fortified Wine.
The Cider, Perry & Rice Wine market encompass all wines made from fruits other than grapes, grains, or other plants.
The Hard Seltzer market encompasses alcoholic beverages made with carbonated water, alcohol, and often fruit flavoring.

Additional information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per liter, as well as sales channels. Per capita figures refer to a country’s or region’s whole population.

At-home market data covers retail sales via super- and hypermarkets, eCommerce, convenience stores, and similar sales channels. Out-of-home market data includes all sales in hotels and restaurants, sales by catering companies, as well as sales in cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. All prices are valued at retail selling prices, including all sales and consumption taxes.

Key players include Anheuser-Busch InBev (e.g., Corona, Bud Light, and Michelob), Diageo (e.g., Johnnie Walker, Guinness, and Tanqueray), Heineken, and Molson Coors.

Alcoholic & Non-Alcoholic Beer
Wine
Spirits
Cider, Perry and Rice Wines
Hard Seltzer

Non-Alcoholic Beverages derived from Wine or Spirits

The Alcoholic Drinks market in South Korea has been experiencing significant growth in recent years, driven by changing customer preferences and local special circumstances. Customer preferences in the Alcoholic Drinks market in South Korea have been shifting towards premium and craft products. Consumers are increasingly seeking high-quality and unique alcoholic beverages, such as artisanal beers and small-batch spirits. This trend is driven by a growing middle class with higher disposable incomes, who are willing to pay a premium for products that offer superior taste and quality. Additionally, there is a rising interest in health and wellness, leading to an increased demand for low-alcohol or alcohol-free alternatives in the market. One of the key trends in the Alcoholic Drinks market in South Korea is the growing popularity of traditional Korean alcoholic beverages. Traditional Korean liquors, such as makgeolli and soju, have seen a resurgence in popularity among younger consumers. This trend is driven by a desire to reconnect with Korean cultural heritage and support local producers. Additionally, these traditional beverages are often perceived as healthier alternatives to Western-style drinks, further contributing to their growing popularity. Local special circumstances also play a significant role in shaping the Alcoholic Drinks market in South Korea. The country has a strong drinking culture, with alcohol often being consumed as part of social gatherings and business meetings. This cultural norm creates a steady demand for alcoholic beverages, especially in the on-trade sector. Furthermore, South Korea has a strict regulatory environment for alcohol sales and distribution, which has led to the dominance of large, established players in the market. However, there has been a recent trend of smaller, independent producers entering the market and challenging the dominance of these established brands. Underlying macroeconomic factors have also contributed to the development of the Alcoholic Drinks market in South Korea. The country has experienced steady economic growth in recent years, leading to an increase in disposable incomes and consumer spending. This has allowed consumers to trade up to higher-quality and more expensive alcoholic beverages. Additionally, the growing popularity of Korean pop culture, known as "Hallyu," has had a positive impact on the Alcoholic Drinks market. Korean celebrities and influencers often endorse alcoholic beverages, leading to increased consumer interest and demand. In conclusion, the Alcoholic Drinks market in South Korea is developing in response to changing customer preferences, local special circumstances, and underlying macroeconomic factors. Consumers are increasingly seeking premium and craft products, as well as traditional Korean beverages. The country's strong drinking culture and strict regulatory environment also shape the market. Overall, the market is expected to continue growing as disposable incomes rise and consumer interest in unique and high-quality alcoholic beverages continues to increase.

Data coverage:
The data encompasses B2C enterprises. The at-home market covers retail sales via super- and hypermarkets, eCommerce, convenience stores, or similar sales channels. The out-of-home data encompasses all sales to hotels, restaurants, catering, cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. Both the at-home and the out-of-home market are valued at retail selling prices including all sales and consumption taxes.

Modeling approach:
Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending (e.g. consumer spending on alcoholic beverages, consumer spending at Hotels, Restaurants etc.), and price level index. This data helps us estimate the market size for each country individually.

Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Alcoholic Drinks market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.

This report presents a comprehensive analysis and additional information on the Consumer market, in a PDF format.

The alcoholic beverage market is recovering after several years of downturn. Larger forces like the COVID-19 pandemic, the Russian invasion of Ukraine and the ensuing inflation have either been resolved or accepted as part of the current market environment. Regional conditions vary as consumers in some areas of the world are changing their alcohol preferences while other regions are continuing to feel the effects of less discretionary spending from consumers.