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South Korea Wine Market Overview, 2028

South Korea Wine Market Overview, 2028

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South Korea Wine Market Overview, 2028
Wine consumption in South Korea become a popular choice for special occasions, social gatherings, and as a part of dining experiences. Wine culture in South Korea is evolving, with an increasing number of wine bars, wine clubs, and wine-related events. Wine education and tasting events are also becoming more prevalent, helping to foster a deeper understanding and appreciation for wine among consumers. Korean consumers are increasingly interested in wine and food pairing, seeking to enhance their dining experiences. Wine is often paired with various cuisines, including Korean, European, and other international dishes, contributing to the growth of wine culture in the country. Wine tourism has gained traction in South Korea, with an increasing number of local wineries offering tours, tastings, and vineyard experiences. This has helped in promoting domestic wine production and attracting wine enthusiasts to explore the country's wine regions. South Korea has a unique wine culture influenced by traditional alcoholic beverages such as soju and makgeolli. Historically, wine was not a traditional part of Korean drinking culture. However, in recent years, wine has gained popularity as a symbol of sophistication and luxury. While the South Korean market is dominated by imported wines, the country also has a growing domestic wine industry. Korean wineries produce wines using locally grown grape varieties, such as Campbell Early, Cheongsil, and Muscat Bailey A. The Korean wine industry is evolving and gaining recognition for its quality and unique character. The South Korean entertainment industry, particularly the K-pop phenomenon, has indirectly contributed to the popularity of wine. Many K-pop idols and celebrities are seen endorsing wine brands or enjoying wine in their public appearances, which influences consumer perception and generates interest in wine among their fans.
According to the research report “South Korea Wine Market Overview, 2028, published by Bonafide Research, The South Korea Wine market is projected to reach market size of more than USD 2.89 Billion by 2028. The wine market in South Korea has experienced significant growth and popularity in recent years. Includes, Cultural Perceptions, Wine Consumption, Import Dominance, Preference for Red Wine, Wine and K-pop, Wine Gift Culture, Wine Education and Culture, Wine Bars and Restaurants, E-Commerce and Online Sales, Wine Tourism. The wine market in South Korea offers a range of product types to cater to diverse consumer preferences. Such as, Red Wine, White Wine, Sparkling Wine, Rosé Wine, Sweet Wines, Fortified Wines, etc. The most popular wine in the South Korean market is often considered to be red wine, particularly those made from the Cabernet Sauvignon grape variety. Here's why Cabernet Sauvignon is highly regarded and favored in South Korea such as, Flavor Profile, Food Pairing, Global Reputation, Aging Potential. While there are numerous wine brands available in South Korea, here are some popular wine brands that are widely recognized in the country are, Chateau Ste. Michelle, Concha y Toro, Yellow Tail, Jacob's Creek, Mouton Cadet, Santa Carolina, Casillero del Diablo. In the South Korean wine market, wines are categorized into different sweetness levels. Includes, Dry Wines, Off-Dry Wines, Semi-Sweet Wines, Sweet Wines. The wine market in South Korea is served through various distribution channels, providing consumers with different options for purchasing and accessing wines. The distribution channels commonly found in the wine market of South Korea are, Traditional Retail, Wine Shops, Online Retail, Wine Clubs and Subscription Services, Restaurants and Bars, Duty-Free Shops. Key Drivers of the Wine Market in South Korea are, Shifting Consumer Preferences, Rising Wine Consumption, Wine Education and Tourism. Opportunities in the Wine Market of South Korea are Growing Premium Wine Segment, Wine and Food Pairing Culture.
The wine market in South Korea consists of wines of various color types, with each type having its own popularity and market share. Includes, Red wine holds the largest market share in South Korea's wine market. It is widely consumed and preferred by many South Koreans. Red wines, particularly those made from grape varieties like Cabernet Sauvignon, Merlot, and Shiraz, are popular for their rich flavors and perceived health benefits. White wine also enjoys a significant market share in South Korea. It appeals to consumers who prefer lighter and crisper flavors. Chardonnay, Sauvignon Blanc, and Riesling are among the popular white grape varieties consumed in South Korea. Rosé wine has gained popularity in South Korea in recent years. The light and refreshing character of rosé wines makes them appealing to a wide range of consumers, particularly during warmer seasons. Rosé wines from various regions, such as Provence in France, are sought after in the South Korean market. Sparkling wine, including Champagne, Prosecco, and Cava, has seen a rise in popularity in South Korea. It is often associated with celebrations and special occasions. Sparkling wine consumption has increased as consumers embrace the concept of toasting and celebrating with bubbles. While fortified wines such as Port, Sherry, and Madeira are not as widely consumed as red, white, or sparkling wines, they do have a niche market in South Korea. These wines are often enjoyed as dessert wines or aperitifs.
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 wine 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
• Still Wine
• Sparkling Wine

By Colour
• Red Wine
• White Wine
• Rose Wine
• Others

By Sweetness Level
• Semi-Sweet
• Dry
• Sweet
• Semi-Dry

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, analysing 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 wine 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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