The per capita beer consumption in South Korea stood at 1.62 liters of pure alcohol in 2023. Forecast data shows a declining trend from 2024 to 2028, with year-on-year percentage changes indicating a consistent decrease. Specifically, from 2024 to 2025, the consumption is set to decline by approximately 1.9%, and from 2025 to 2026, it declines by roughly 1.9% again. The decline continues at about 1.3% from 2026 to 2027 and approximately 2% from 2027 to 2028. The Compound Annual Growth Rate (CAGR) over the five-year period from 2023 to 2028 is projected at around -1.7% annually.
Future trends to watch for:
- Shifts in consumer preferences towards healthier lifestyle choices and alternatives such as low-alcohol or non-alcoholic beverages.
- Government policies and regulations that may impact alcohol consumption, including tax changes and public health campaigns.
- Potential economic factors which could influence disposable income and consumer spending on alcoholic beverages.
- Developments in the local and international beer market, such as new product launches, innovation, and marketing strategies by beer manufacturers.
