South Korea Alcoholic Drink Industry Outlook 2022 - 2026

Key Market Indicators

Korea is the eighth largest consumer of alcoholic drinks in 2021, behind the Philippines. India, Japan, and Russia were the second, third, and fourth largest consumers, respectively. Korean consumption of alcoholic drinks is set to reach 301,420 metric tons in 2026, a 0.6% year-on-year increase from the 291,000 metric tons consumed in 2021. Since 2017, consumption has decreased by 0.1% annually. Korean exports of alcoholic drinks are expected to reach $1.14 billion by 2026, a 2.5% year-on-year increase from the $980 million exported in 2021. Since 1993, exports have grown by 4.5% year-on-year.

South Korea Alcoholic Drink Market Data and Forecasts

Improve your Knowledge with the latest Indicators and Trends

• Beer Industry: Exploring Strategies of Top Global Brewers and Market Dynamics

  The dominant entities within the global brewing industry enlist multifaceted strategies to bolster their market positions. These primarily revolve around portfolio diversification, wherein brewers are seen expanding their offerings beyond traditional beer to accommodate current consumer trends and preferences. Particularly promising are innovations within the realm of low or no-alcohol...

  Discover more insights

• Spirits Sector: Comparing Pernod Ricard and Rémy Cointreau's Global Involvement

  Pernod Ricard and Rémy Cointreau both play a major role in the Spirits sector but they operate on different scales. Pernod Ricard is the world's second largest spirits company with a broad portfolio of known brands like Absolut Vodka and Jameson Irish Whiskey. Rémy Cointreau, however, is a smaller player,...

  Discover more insights

• Alcoholic Drinks: Navigating Brewery Innovations and Liquor Production Techniques

  Shifting consumer preferences and fierce competition have driven the brewing industry towards innovation. Sophisticated practices in beer-producing techniques, unique flavors and craft-style brewing have been incorporated to meet evolving demands. Sustainability is another crucial facet of the industry's innovation, with many breweries employing eco-friendly processes and packaging. Furthermore, automation and...

  Discover more insights

• Alcoholic Drinks: Unveiling the Dominance and Impact of Constellation Brands

  Constellation Brands stands as a key player in the alcoholic beverage market, having a vast portfolio of brands spread across wine, beer, and spirits categories. This multinational company has managed to leverage successful marketing strategies, strategic acquisitions, and partnerships, thus securing its strongholds in multiple markets and demographics. It is...

  Discover more insights

• Spirits Market Overview: Unveiling Size & Trends Across the Globe

  Globally, the spirits market displays robust growth, due to a variety of interconnecting factors. The industry's rising popularity can be credited to changing consumer preferences and an increasing inclination towards premium and ultra-premium products. The proliferation of craft distilleries, particularly across developed markets, has further expanded the market. Emerging economies...

  Discover more insights