From 2014 to 2023, the beer market in South Korea showed modest growth with temporary dips. The market volume stood at 2.16 million metric tons in 2023, recovering from a pandemic-related decline in 2020. Year-on-year variations reveal a steady trend, but the market saw significant fluctuation, including a sharp -16.73% drop in 2020 and a 20.82% surge in 2021. The five-year CAGR up to 2023 was around 0.25%, demonstrating stable but slow growth. Future projections indicate a continued upward trend with an average annual growth rate of 0.23% over the next five years, leading to a cumulative growth rate of 1.18% by 2028.

Future trends to watch for:

Market recovery and stabilization post-pandemic.
Potential impact of new regulations and changing consumer preferences on market growth.
Innovations and product diversification in the beer industry to attract more consumers.