The demand for alcoholic beverages in South Korea showed notable fluctuations over the past decade. From 4.01 million metric tons in 2014, the demand increased steadily until 2018, with the most significant year-on-year growth of 4.94% in 2018. However, 2019 saw a slight decline of -0.71%, followed by a dramatic drop of -16.33% in 2020. This slump was likely influenced by the COVID-19 pandemic. A significant recovery occurred in 2021 with a 21.42% increase. By 2023, the demand was stable at 4.59 million metric tons, showing a year-on-year growth of 0.75%, with a 5-year CAGR of 0.48%.

Projections from 2024 to 2028 suggest a moderate growth outlook, with a 5-year CAGR of 0.6%, forecasted to reach 4.76 million metric tons by 2028. The forecasted 5-year growth rate is expected to be 3.03%.

Future trends to watch for include:

Potential shifts in consumer preferences towards low or non-alcoholic beverages.
Impact of regulatory changes and health campaigns promoting reduced alcohol consumption.
Influence of economic conditions on discretionary spending, including on alcoholic beverages.