Market Insights Consumer Alcoholic Drinks Spirits

Soju - China

China

Revenue, at home (e.g., revenue generated in supermarkets and convenience stores) in the Soju market amounts to US$0.48bn in 2024.
Revenue, out-of-home (e.g., revenue generated in restaurants and bars) amounts to US$79.36m in 2024.
Revenue, combined amounts to US$0.56bn in 2024.
The revenue, at home is expected to grow annually by 3.86% (CAGR 2024-2029).
In global comparison, most revenue, at home is generated in South Korea (US$2,333m in 2024).
In relation to total population figures, the average revenue per capita, at home of 0.34L are generated in 2024.
In the Soju market, volume, at home is expected to amount to 22.03m L by 2024.
Volume, out-of-home is expected to amount to 1.46m L in 2024.
Volume, combined is expected to amount to 23.49m L in 2024.
The Soju market is expected to show a volume growth, at home of 2.37% in 2025.
The average volume per person, at home in the Soju market is expected to amount to 0.02L in 2024.

Key regions: Singapore, United States, India, China, Worldwide

Market

Region

Region comparison

Currency

Methodology

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.