Summary
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 $8,203.8 million 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 1,537.7 million 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.
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?
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Table of Contents
1 Executive Summary
1.1. Market value
1.2. Market value forecast
1.3. Market volume
1.4. Market volume forecast
1.5. Category segmentation
1.6. Geography segmentation
1.7. Market share
1.8. Market rivalry
1.9. Competitive landscape
2 Market Overview
2.1. Market definition
2.2. Market analysis
3 Market Data
3.1. Market value
3.2. Market volume
4 Market Segmentation
4.1. Category segmentation
4.2. Geography segmentation
4.3. Market distribution
5 Market Outlook
5.1. Market value forecast
5.2. Market volume forecast
6 Five Forces Analysis
6.1. Summary
6.2. Buyer power
6.3. Supplier power
6.4. New entrants
6.5. Threat of substitutes
6.6. Degree of rivalry
7 Competitive Landscape
7.1. Market share
7.2. Who are the leading players in the South Korean spirits market?
7.3. Which companies have been most successful in increasing their market shares during 2019-24?
7.4. Which companies market shares have suffered during 2019-24?
7.5. What are the most popular brands in the South Korean spirits market?
8 Company Profiles
8.1. Hite Jinro Co Ltd
8.2. Lotte Chilsung Beverage Co Ltd
8.3. Lotte Co Ltd
8.4. Muhak Co.,Ltd.
9 Macroeconomic Indicators
9.1. Country data
10 Appendix
10.1. Methodology
10.2. Industry associations
10.3. Related MarketLine research
10.4. About MarketLine
List of Tables
Table 1: South Korea spirits market value: $ million, 2019-24
Table 2: South Korea spirits market volume: million liters, 2019-24
Table 3: South Korea spirits market category segmentation: % share, by value, 2019-24
Table 4: South Korea spirits market category segmentation: $ million, 2019-24
Table 5: South Korea spirits market geography segmentation: $ million, 2024
Table 6: South Korea spirits market distribution: % share, by volume, 2024
Table 7: South Korea spirits market value forecast: $ million, 2024-29
Table 8: South Korea spirits market volume forecast: million liters, 2024-29
Table 9: South Korea spirits market share: % share, by volume, 2024
Table 10: Hite Jinro Co Ltd: Key Facts
Table 11: Hite Jinro Co Ltd: Annual Financial Ratios
Table 12: Hite Jinro Co Ltd: Key Employees
Table 13: Lotte Chilsung Beverage Co Ltd: Key Facts
Table 14: Lotte Chilsung Beverage Co Ltd: Annual Financial Ratios
Table 15: Lotte Chilsung Beverage Co Ltd: Key Employees
Table 16: Lotte Co Ltd: Key Facts
Table 17: Lotte Co Ltd: Key Employees
Table 18: Muhak Co.,Ltd.: Key Facts
Table 19: Muhak Co.,Ltd.: Annual Financial Ratios
Table 20: South Korea Exchange Rate, 2019-24
List of Figures
Figure 1: South Korea spirits market value: $ million, 2019-24
Figure 2: South Korea spirits market volume: million liters, 2019-24
Figure 3: South Korea spirits market category segmentation: $ million, 2019-24
Figure 4: South Korea spirits market geography segmentation: % share, by value, 2024
Figure 5: South Korea spirits market distribution: % share, by volume, 2024
Figure 6: South Korea spirits market value forecast: $ million, 2024-29
Figure 7: South Korea spirits market volume forecast: million liters, 2024-29
Figure 8: Forces driving competition in the spirits market in South Korea, 2024
Figure 9: Drivers of buyer power in the spirits market in South Korea, 2024
Figure 10: Drivers of supplier power in the spirits market in South Korea, 2024
Figure 11: Factors influencing the likelihood of new entrants in the spirits market in South Korea, 2024
Figure 12: Factors influencing the threat of substitutes in the spirits market in South Korea, 2024
Figure 13: Drivers of degree of rivalry in the spirits market in South Korea, 2024
Figure 14: South Korea spirits market share: % share, by volume, 2024
