Market Insights Consumer Alcoholic Drinks Spirits

Tequila - South Korea

South Korea

Revenue, at home (e.g., revenue generated in supermarkets and convenience stores) in the Tequila market amounts to US$20.60m in 2024.
Revenue, out-of-home (e.g., revenue generated in restaurants and bars) amounts to US$7.04m in 2024.
Revenue, combined amounts to US$27.64m in 2024.
The revenue, at home is expected to grow annually by 2.24% (CAGR 2024-2029).
In global comparison, most revenue, at home is generated in the United States (US$12,870m in 2024).
In relation to total population figures, the average revenue per capita, at home of US$0.40 are generated in 2024.
In the Tequila market, volume, at home is expected to amount to 0.67m L by 2024.
Volume, out-of-home is expected to amount to 99.06k L in 2024.
Volume, combined is expected to amount to 0.77m L in 2024.
The Tequila market is expected to show a volume growth, at home of 1.24% in 2025.
The average volume per person, at home in the Tequila market is expected to amount to 0.01L in 2024.

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

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.