Beer production in South Korea peaked at 2.08 million metric tons in 2014 and saw a gradual decline, reaching 1.97 million metric tons in 2023. Year-on-year variations showed fluctuations, including a significant drop in 2020 by 17.25%, followed by a recovery in 2021 with a 20.18% increase. The compound annual growth rate (CAGR) over the last 5 years was -0.3%. Future forecasts predict a slight decline, with a CAGR of -0.23% anticipated by 2028.
Factors to watch include the impact of changing consumer preferences, the rise of craft breweries, and potential economic shifts that may affect both domestic consumption and production capabilities. Keeping an eye on global trends and local market dynamics will be crucial for understanding future production levels in South Korea.
