Analyzing South Korea's forecasted spirits consumption per capita from 2024 to 2028 shows a consistent decline in Liters of Pure Alcohol. In 2023, the actual value was higher than the forecast for 2024 at 0.13. From 2024 onwards, there's a notable drop: 0.13 in 2024, 0.11 in 2025, 0.096 in 2026, 0.08 in 2027, and 0.064 in 2028. Year-on-year, this represents decreases of approximately 15.4%, 12.7%, 16.7%, and 20% respectively. The Compound Annual Growth Rate (CAGR) for 2024-2028 is a decrease of around 14.6% per year.
Future trends to watch for in South Korea's spirits market include shifts towards lower alcohol consumption due to health awareness, cultural changes, and potential regulatory impacts on alcohol sales and advertising. Emerging alternatives, such as non-alcoholic beverages, may also influence these trends significantly.