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Wine in South Korea
June 2022
2021 DEVELOPMENTS
Price increases for takju
The average unit price of takju increased in the aftermath of tax hikes and inflation. In April 2021, leading player Seoul Takju Association raised the price of Jangsu Makkeoli by KRW120, resulting in the retail price at convenience stores reaching KRW1,600.
Still light grape wine continues to grow in popularity due to home consumption trend
Following 2020’s strong performance, sales of still light grape wine in South Korea recorded further dynamic volume growth in 2021. In terms of consumer demand, there is a local perception that wine is relatively healthy and the most suitable alcoholic drink for at-home consumption.
PROSPECTS AND OPPORTUNITIES
Takju needs a differentiation strategy
With home consumption a key trend in alcoholic drinks in South Korea, unique marketing will be essential for takju to revamp its traditional image. Success of craft beer, which smartly approached differentiation strategies, could be a good example.
Increasing still light grape wine sales push for diversification
Both sales of economy and ultra-premium still light grape wine are increasing in line with the growing popularity of the category in South Korea. Still light grape wine witnessed a significant rise in the number of so-called wine novices towards the end for the review period due to large investments by the country’s major distributors.
Maximising retailers’ shelf space
Wine consumers will enjoy a wider range of options and easy accessibility over the forecast period as retailers continue to expand their shelf space to address rising demand. In particular, popular convenience stores, which experienced high growth rates for wine sales towards the end of the review period, are continuing to invest in wine-focused outlets.
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Overview:
Understand the latest market trends and future growth opportunities for the Wine industry in South Korea with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Wine industry in South Korea, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty
The Wine in South Korea report includes:
Analysis of key supply-side and demand trends
Detailed segmentation of international and local products
Historic volume and value sizes, company and brand market shares
Five year forecasts of market trends and market growth
Robust and transparent research methodology, conducted in-country
This report answers:
What is the market size of Wine in South Korea?
Where is consumer demand for Wine focussed?
Which is being consumed more; beer, wine or spirits?
Where is demand growing? Stagnating?
How is the operating environment for alcoholic drinks changing?
Which are the leading brands in South Korea?
How are products distributed in South Korea?
What are the key trends in new product development?
Do consumers want value for money or added value?
How will macroeconomic context and shifting cultural values shape future growth?
How will COVID-19 and recession impact the alcoholic drinks industry?
Where is future growth expected to be most dynamic?
Wine in South Korea - Category analysis
KEY DATA FINDINGS
2021 DEVELOPMENTS
Price increases for takju
Still light grape wine continues to grow in popularity due to home consumption trend
PROSPECTS AND OPPORTUNITIES
Takju needs a differentiation strategy
Increasing still light grape wine sales push for diversification
Maximising retailers’ shelf space
CATEGORY DATA
Table 1 Sales of Wine by Category: Total Volume 2016-2021Table 2 Sales of Wine by Category: Total Value 2016-2021Table 3 Sales of Wine by Category: % Total Volume Growth 2016-2021Table 4 Sales of Wine by Category: % Total Value Growth 2016-2021Table 5 Sales of Wine by Off-trade vs On-trade: Volume 2016-2021Table 6 Sales of Wine by Off-trade vs On-trade: Value 2016-2021Table 7 Sales of Wine by Off-trade vs On-trade: % Volume Growth 2016-2021Table 8 Sales of Wine by Off-trade vs On-trade: % Value Growth 2016-2021Table 9 Sales of Still Red Wine by Price Segment: % Off-trade Volume 2016-2021Table 10 Sales of Still Rosé Wine by Price Segment: % Off-trade Volume 2016-2021Table 11 Sales of Still White Wine by Price Segment: % Off-trade Volume 2016-2021Table 12 Sales of Other Sparkling Wine by Price Segment: % Off-trade Volume 2016-2021Table 13 GBO Company Shares of Still Light Grape Wine: % Total Volume 2017-2021Table 14 NBO Company Shares of Still Light Grape Wine: % Total Volume 2017-2021Table 15 LBN Brand Shares of Still Light Grape Wine: % Total Volume 2018-2021Table 16 GBO Company Shares of Champagne: % Total Volume 2017-2021Table 17 NBO Company Shares of Champagne: % Total Volume 2017-2021Table 18 LBN Brand Shares of Champagne: % Total Volume 2018-2021Table 19 GBO Company Shares of Other Sparkling Wine: % Total Volume 2017-2021Table 20 NBO Company Shares of Other Sparkling Wine: % Total Volume 2017-2021Table 21 LBN Brand Shares of Other Sparkling Wine: % Total Volume 2018-2021Table 22 GBO Company Shares of Non-grape Wine: % Total Volume 2017-2021Table 23 NBO Company Shares of Non-grape Wine: % Total Volume 2017-2021Table 24 LBN Brand Shares of Non-grape Wine: % Total Volume 2018-2021Table 25 Forecast Sales of Wine by Category: Total Volume 2021-2026Table 26 Forecast Sales of Wine by Category: Total Value 2021-2026Table 27 Forecast Sales of Wine by Category: % Total Volume Growth 2021-2026Table 28 Forecast Sales of Wine by Category: % Total Value Growth 2021-2026
Alcoholic Drinks in South Korea - Industry Overview
Legal purchasing age and legal drinking ageDrink drivingAdvertisingSmoking banOpening hoursOn-trade establishmentsTable 29 Number of On-trade Establishments by Type 2015-2021
TAXATION AND DUTY LEVIES
Summary 1 Taxation and Duty Levies on Alcoholic Drinks 2021
OPERATING ENVIRONMENT
Contraband/parallel trade
Duty free
Cross-border/private imports
KEY NEW PRODUCT LAUNCHES
Outlook
MARKET INDICATORS
Table 30 Retail Consumer Expenditure on Alcoholic Drinks 2016-2021
MARKET DATA
Table 31 Sales of Alcoholic Drinks by Category: Total Volume 2016-2021Table 32 Sales of Alcoholic Drinks by Category: Total Value 2016-2021Table 33 Sales of Alcoholic Drinks by Category: % Total Volume Growth 2016-2021Table 34 Sales of Alcoholic Drinks by Category: % Total Value Growth 2016-2021Table 35 Sales of Alcoholic Drinks by Category by Off-trade vs On-trade: Volume 2021Table 36 Sales of Alcoholic Drinks by Category by Off-trade vs On-trade: Value 2021Table 37 Sales of Alcoholic Drinks by Category by Off-trade vs On-trade: % Volume 2021Table 38 Sales of Alcoholic Drinks by Category by Off-trade vs On-trade: % Value 2021Table 39 GBO Company Shares of Alcoholic Drinks: % Total Volume 2017-2021Table 40 Distribution of Alcoholic Drinks by Format: % Off-trade Value 2016-2021Table 41 Distribution of Alcoholic Drinks by Format and by Category: % Off-trade Volume 2021Table 42 Forecast Sales of Alcoholic Drinks by Category: Total Volume 2021-2026Table 43 Forecast Sales of Alcoholic Drinks by Category: Total Value 2021-2026Table 44 Forecast Sales of Alcoholic Drinks by Category: % Total Volume Growth 2021-2026Table 45 Forecast Sales of Alcoholic Drinks by Category: % Total Value Growth 2021-2026
DISCLAIMER
SOURCES
Summary 2 Research Sources
The following categories and subcategories are included:
Wine
Port
Sherry
Vermouth
Other Fortified Wine
Apple Wine
Bokbunjaju
Cheongju
Chinese Wine
Economy Rice Wine
Fortified Fruit Wine
Fruit and Berry Wine
Fruit and Herbal Wine
Fruit and Honey based Wine
Fruit Wine
Local Non-Grape Wine
Lower Mid-Range Rice Wine
Non-Grape Dessert Wine
Premium Rice Wine
Rice Wine
Sake
Takju
Upper Mid-Range Rice Wine
Yakju
Yellow Wine
Other Non-Grape Wine
Champagne
Other Sparkling Wine
Still Red Wine
Still Rosé Wine
Still White Wine
Wine
This is the aggregation of still and sparkling light grape wines, fortified wine and vermouth and non-grape wine. In terms of alcohol content, light wine usually falls into the 8-14% ABV bracket while fortified wine ranges from 14-23% ABV. Low and non-alcoholic wine is also included in the data (attributed to each sector as appropriate).