The rising number of single households and convenience stores helped to increase off-trade volume and value sales of RTDs in 2017. Since rising numbers of younger consumers enjoy drinking at home in their leisure time, the on-trade channel suffered from a poor performance in both current value and volume terms.
The majority of RTDs have been produced in glass bottles for a long time in South Korea. However, there appeared to be signs of changes in packaging trends, due to significant sales through convenience stores and reasons of convenience in 2017.
Fierce competition is expected between established brands and new entries in the off-trade, with price promotion, seasonal products and marketing activities. To ensure sales growth in the on-trade, it will be necessary to differentiate to attract female consumers into bars.
RTDs/high-strength premixes has been massively dominated by global alcoholic drinks players for a long time in South Korea. Local players attempted to make inroads into RTDs over the last couple of years, launching new products with aggressive marketing activities.
Local players are competing against global brands with long experience in terms of product and packaging development in RTDs. Therefore, international players are expected to actively expand their coverage over the forecast period, whilst domestic brands will continue to see falling sales, with lower competitive advantage given the rising number of me-too brands.
Metal beverage cans are expected to continue to gain popularity over the forecast period, thanks to their lower price, eye-catching packaging design and portability. From the point of view of convenience stores, metal beverage cans are easy to handle and maximise their limited shelf-space.
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This industry report originates from Passport, our Alcoholic Drinks market research database.