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.
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.
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.
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.
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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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).
See All of Our DefinitionsThis report originates from Passport, our Wine research and analysis database.
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