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South Korea Beer Market Overview, 2028

South Korea Beer Market Overview, 2028

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South Korea Beer Market Overview, 2028
South Korea, renowned for its rich heritage and technological advancements, is also home to a rapidly growing beer market. Beer has become an integral part of South Korean social life, with an evolving drinking culture that embraces both traditional and contemporary flavors. In this introduction, we will delve into the dynamic world of beer in South Korea, exploring its historical background, the current state of the market, key players, and emerging trends. South Korea's beer industry traces its roots back to the early 20th century when Western influence began to shape the country's drinking habits. Initially, beer production was limited, but as the demand grew, local breweries emerged to cater to the evolving tastes of the Korean population. Over time, a blend of imported beer styles and uniquely Korean adaptations contributed to the development of a distinct beer culture. One of the significant trends in the South Korean beer market is the increasing demand for craft beer. Craft breweries are known for their emphasis on quality ingredients, unique brewing techniques, and experimental flavors, attracting beer enthusiasts seeking new and exciting taste experiences. This trend has fueled the growth of craft beer festivals, beer tours, and specialty beer bars, creating a vibrant beer culture in South Korea. Another trend is the rising popularity of flavored and fruit-infused beers. Consumers are embracing beers that incorporate local fruits and other natural flavors, offering a refreshing and distinct drinking experience. This trend reflects the desire for variety and innovation among South Korean beer consumers.

According to the research report “South Korea Beer Market Overview, 2028, published by Bonafide Research, The South Korea Beer Market is projected to reach market size of more than USD 31.28 Billion by 2028. While domestic mainstream brands like HiteJinro and OB dominate the market, there has been a notable surge in the popularity of craft beer in recent years. Craft breweries, both large and small, have emerged across the country, offering a diverse range of flavors and styles that cater to the evolving tastes of beer enthusiasts. The South Korean beer market is characterized by a mix of large-scale breweries and a burgeoning craft beer sector. Major players such as HiteJinro and Oriental Brewery (OB) have long-standing traditions and produce a wide range of beers, including lagers, ales, and specialty brews. Additionally, a thriving craft beer community has emerged, with breweries like Magpie Brewing Co., The Booth Brewing Co., and Playground Brewery gaining popularity for their innovative and high-quality craft brews. The South Korean beer market offers a variety of options to cater to different tastes and preferences. While the exact ingredients used may vary among different breweries and beer styles are malted barley, hops, Water, Yeast, Adjuncts. Also, depending on the beer style, additional flavorings and additives may be used. These can include fruits, spices, herbs, and even coffee or chocolate for specialty beers.

Similar to many other countries, beer holds the position of being the most consumed alcoholic beverage in South Korea. It is widely enjoyed by both locals and visitors alike. One unique drinking culture in South Korea is the mixing of beer and soju, a traditional Korean distilled spirit. This combination, known as somaek, has gained immense popularity among young adults and is often enjoyed during social gatherings and nightlife. In the South Korean beer market, major domestic brands such as HiteJinro, Oriental Brewery (OB), and Lotte Chilsung dominate the market share. These brands offer a wide range of beer styles, including lagers, ales, and flavored beers. Unlike many countries where beer is primarily purchased from specialized liquor stores or supermarkets, South Korea has a unique retail landscape. Convenience stores play a significant role in beer sales, providing easy access to a wide selection of beers for consumers. South Korean beer drinkers place great importance on the freshness of their beer. It is common for beers to display expiration dates prominently on their packaging, and consumers tend to prefer recently brewed batches for optimal taste and quality. Over the past decade, the craft beer scene in South Korea has experienced substantial growth. Small, independent breweries have emerged, producing a variety of unique and high-quality craft beers. Craft beer festivals and dedicated craft beer bars have also gained popularity among beer enthusiasts. South Korean breweries have embraced the trend of fruit-infused beers, offering refreshing options that incorporate local fruits such as citrus, berries, and tropical fruits. These beers provide a distinct and flavorful drinking experience. South Korean breweries have started to expand their reach beyond domestic borders, with an increasing number of Korean craft beers being exported to international markets. This allows consumers worldwide to experience the flavors and creativity of Korean brewing. South Korean breweries often experiment with innovative packaging designs to attract consumers. Some breweries have introduced unique can shapes, vibrant labels, and resealable lids for convenience. South Korea hosts several beer festivals throughout the year, attracting both locals and tourists. These festivals celebrate the beer culture, featuring live music, food vendors, and a wide range of beers to sample.

The beer market in South Korea is a dynamic and evolving industry that blends traditional brewing practices with a growing craft beer movement. From the dominance of mainstream brands to the flourishing craft beer scene, there are abundant choices for beer enthusiasts in South Korea. As consumer tastes continue to evolve, the market is likely to see further diversification, with an emphasis on quality, creativity, and unique flavor profiles. In the following sections, we will explore various aspects of this vibrant industry, including production methods, popular beer styles, market trends, and the cultural significance of beer in South Korea.

Considered in this report:
• Geography: South Korea
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report:
• South Korea Beer Market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Product type:
• Lager
• Ale
• Stout & Porter
• Malt
• Others (pilsner, hard seltzer, kegs, porter)

By Category:
• Standard Beer
• Premium Beer

By Packaging:
• Bottle
• Cann

By Production:
• Macro Brewery
• Micro Brewery
• Craft Brewery

By Beverages Type:
• Alcoholic
• Non- Alcoholic

By Distribution Channel:
• On trade
• Off trade

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us. we have started verifying the details obtained from secondary sources.

Intended audience:
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to beer industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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