Beer demand in South Korea stood at 2.38 million metric tons in 2023, marking a year-on-year increase of 0.81%. The compound annual growth rate (CAGR) over the last five years was 0.31%. Historical data shows fluctuations with significant growth in 2018, a sharp decline in 2020, and strong recovery in 2021. Looking ahead, the forecast suggests steady growth, with a projected CAGR of 0.63% from 2023 to 2028, equating to a 3.17% increase over the five years.
Future trends to watch for:
• Rising health consciousness may impact beer demand, shifting preferences towards low-alcohol and non-alcoholic beverages.
• The craft beer segment could see increased interest, driven by consumer demand for variety and premium products.
• Economic factors and shifts in disposable income will play critical roles in influencing overall beer consumption patterns.
