From the explosive growth of functional drinks and premium soju to the relentless rise of e-commerce beverage sales, South Korea's 29.1 trillion KRW drink market is a dynamic powerhouse where health trends and tradition are creating a fascinating global business story.
Key Takeaways
- In 2023, the total South Korean beverage market size reached 28.7 trillion KRW, driven by a 5.1% CAGR from 2019-2023
- The non-alcoholic beverage segment in South Korea grew by 6.8% in 2022 to 12.4 trillion KRW, fueled by health-conscious trends
- Alcoholic beverages accounted for 42.3% of the total Korean beverage market revenue in 2023, totaling 13.1 trillion KRW
- Soju production volume in South Korea totaled 1.2 billion liters in 2022, led by HiteJinro with 45% share
- Beer production reached 1.8 billion liters in 2023, with a 2.3% decline due to health trends
- Traditional Korean rice liquor (Makgeolli) output increased to 85 million liters in 2022, up 12.4%
- Per capita soju consumption in South Korea averaged 90 bottles (360ml each) in 2022
- Beer consumption per capita reached 42.5 liters in 2023, a slight 0.8% decrease
- 68% of South Koreans aged 20-29 consumed RTD teas weekly in 2023 survey
- HiteJinro held 42.1% market share in soju sales with 540 million bottles sold in 2023
- Lotte Chilsung Beverage captured 31% of carbonated drinks market with 1.4 billion liters in 2022
- Oriental Brewery (OB) dominated beer with 52% share, producing 936 million liters in 2023
- South Korea exported 45.2 million liters of soju worth 120 billion KRW in 2023
- Beer exports from Korea totaled 15.8 million liters in 2022, up 9.4% YoY to China and US
- RTD tea imports reached 200 million USD in 2023, mainly from Japan
South Korea's beverage market thrives with strong growth across alcoholic and health-focused drinks.
Company and Brand Performance
- HiteJinro held 42.1% market share in soju sales with 540 million bottles sold in 2023
- Lotte Chilsung Beverage captured 31% of carbonated drinks market with 1.4 billion liters in 2022
- Oriental Brewery (OB) dominated beer with 52% share, producing 936 million liters in 2023
- Amorepacific's RTD tea brands generated 850 billion KRW revenue in 2023
- Dong-A Otsuka's Pocari Sweat sold 120 million units in Korea in 2022
- Ilhwa's ginseng beverage line achieved 15% market share in functional drinks, 320 billion KRW sales
- Coca-Cola Korea's sales volume reached 950 million liters in 2023, 28% market share
- Starbucks Korea operated 1,870 stores with 45 million monthly beverage sales in 2023
- Pulmuone's plant-based milk sales grew 25% to 180 billion KRW in 2022
- Binggrae ice beverage revenue hit 420 billion KRW, 22% YoY growth in 2023
- Ottogi's noodle-integrated beverage sales contributed 10% to total revenue at 250 billion KRW
- CJ CheilJedang's Sunny10 lemon drink sold 200 million bottles in 2023, 25% market share
- Haitai Beverage's Milkis carbonated milk drink achieved 450 billion KRW sales in 2022
- GS25 convenience stores sold 1.2 billion beverage units in 2023, partnering with local brands
- Red Bull Korea distributed 95 million cans in 2023, holding 55% energy drink share
- Yamazaki Baking's Korean operations produced 300 million RTD coffees in 2022
- Lotte Wellfood's Kloud beer captured 15% craft segment with 50 million liters
- Nongshim's beverage division revenue was 150 billion KRW from noodle tie-ins in 2023
- SPC Group's Ediya Coffee chain sold 80 million beverages monthly in 2023
- Crown Hite's new fruit soju variants sold 100 million bottles in launch year 2022
- PepsiCo Korea's Aquafina water brand led imports with 40 million liters sold
Company and Brand Performance Interpretation
While it may seem Koreans are simply quenching their thirst, the market reveals a nation running on a sophisticated, high-octane cocktail of soju dominion, caffeinated diligence, and a burgeoning taste for everything from Pocari persistence to plant-based progress.
Consumption Patterns
- Per capita soju consumption in South Korea averaged 90 bottles (360ml each) in 2022
- Beer consumption per capita reached 42.5 liters in 2023, a slight 0.8% decrease
- 68% of South Koreans aged 20-29 consumed RTD teas weekly in 2023 survey
- Carbonated soft drink consumption totaled 25 liters per capita in 2022
- Bottled water intake per person hit 68 liters annually in 2023, up 7.9%
- Functional beverage consumption among urban Koreans rose 22% to 15 liters per capita in 2022
- Coffee consumption per capita in Korea was 339 cups in 2023, highest in Asia
- 45% of Koreans prefer low-sugar beverages, per 2023 consumer survey
- Nighttime beverage consumption (post-8pm) accounts for 28% of daily intake in Korea
- Organic beverage consumption grew 19.3% YoY to 12% market penetration in 2023
- 72% of Korean millennials consume soju at least monthly, averaging 5.2 bottles per occasion in 2023
- Female beer consumption rose 18% to 12 liters per capita in urban areas in 2022
- 55% of Koreans aged 30-49 prefer iced Americanos, consuming 150 cups annually
- Zero-sugar soda consumption doubled to 8 liters per capita in 2023 among youth
- Home consumption of RTD beverages increased 25% post-COVID to 40% of total in 2022
- Ginseng drink intake averages 2.1 liters per year per health-focused consumer
- Seasonal beverage consumption peaks at 35% in summer for barley tea at 15 liters pp
- Alcohol-free beer consumption hit 3.2 liters per capita in 2023, up 30%
- Vending machine beverage sales account for 18% of total consumption volume
- Edible ice and slushie consumption totals 5 kg per capita annually in 2022
Consumption Patterns Interpretation
Koreans appear to be hydrating with the logic of a bar graph, diligently offsetting each night's soju with a mountain of morning coffee, all while their fridges become a calculated battleground of rising health trends and stubbornly cherished traditions.
International Trade
- South Korea exported 45.2 million liters of soju worth 120 billion KRW in 2023
- Beer exports from Korea totaled 15.8 million liters in 2022, up 9.4% YoY to China and US
- RTD tea imports reached 200 million USD in 2023, mainly from Japan
- Bottled water imports to Korea were valued at 150 billion KRW in 2022, 12% growth
- Energy drink imports surged 28% to 80 million USD from US and Europe in 2023
- Fruit juice exports hit 50 million USD in 2023, targeting Southeast Asia
- Makgeolli exports grew 15.2% to 12 million liters worth 40 billion KRW in 2022
- Carbonated beverage imports totaled 300 billion KRW in 2023, led by Pepsi and Coke brands
- Korean coffee exports (instant) reached 100 million USD in 2023
- Functional beverage trade surplus was 20 billion KRW in 2022
- South Korean soju exports to the US increased 22% to 25 million liters in 2023
- Beer imports declined 5.1% to 120 million liters in 2022 due to local production rise
- Korean beverage exports to Vietnam grew 35% to 30 billion KRW in 2023, mainly soju
- Imports of premium whiskey to Korea totaled 250 million USD in 2022
- Makgeolli exports to Europe reached 5 million liters worth 15 billion KRW in 2023
- Instant coffee exports to China hit 60 million USD in 2023, 20% YoY increase
- Bottled green tea imports from Japan were 100 billion KRW in 2022
- Korean energy drink exports to Southeast Asia totaled 12 million USD in 2023
- Trade balance for fruit juices showed 40 million USD surplus in 2022 exports over imports
- Craft beer exports doubled to 2 million liters in 2023 to US craft markets
- Low-alcohol beverage imports from Australia were 20 million liters in 2023
International Trade Interpretation
South Korea’s thirst for global tastes is matched only by its ambition to make soju the world’s comforting spirit, while craft beers and makgeolli quietly conquer new frontiers.
Market Overview
- In 2023, the total South Korean beverage market size reached 28.7 trillion KRW, driven by a 5.1% CAGR from 2019-2023
- The non-alcoholic beverage segment in South Korea grew by 6.8% in 2022 to 12.4 trillion KRW, fueled by health-conscious trends
- Alcoholic beverages accounted for 42.3% of the total Korean beverage market revenue in 2023, totaling 13.1 trillion KRW
- South Korea's ready-to-drink (RTD) tea market expanded to 1.9 trillion KRW in 2023, with a 7.2% YoY growth
- The carbonated soft drinks sector in Korea hit 3.2 trillion KRW in sales in 2022, up 3.9% from 2021
- Bottled water market in South Korea surged to 2.1 trillion KRW in 2023, reflecting a 8.4% annual growth rate
- Functional beverages in Korea generated 1.5 trillion KRW in 2023, with energy drinks comprising 45% of the segment
- The overall Korean beverage industry per capita spending reached 550,000 KRW in 2022, a 4.7% increase YoY
- E-commerce beverage sales in South Korea grew 15.2% to 4.8 trillion KRW in 2023
- Premium beverage segment in Korea expanded by 9.1% to 5.6 trillion KRW in 2023
- In 2023, the South Korean beverage market size reached 29.1 trillion KRW, with a projected CAGR of 5.5% through 2028
- Alcoholic drinks market valued at 14.2 trillion KRW in 2023, comprising 48.9% of total beverages
- Soft drinks market grew to 3.8 trillion KRW in 2023, driven by low-calorie variants at 8.2% growth
- Sports drinks segment expanded to 450 billion KRW in 2022, up 13.6% YoY
- Juice market in Korea hit 1.2 trillion KRW in 2023, with 100% fruit juices leading at 35% share
- Alcoholic RTDs (somaek variants) market size was 800 billion KRW in 2023, growing 16.4%
- Dairy beverages market reached 2.8 trillion KRW in 2022, with yogurt drinks at 40% segment share
- Plant-based beverage sales surged to 350 billion KRW in 2023, 24.1% YoY growth
Market Overview Interpretation
While Koreans are increasingly hydrating with health-conscious teas and bottled water, the enduring national pastime of a stiff drink ensures the alcohol sector still holds nearly half the market hostage.
Production Statistics
- Soju production volume in South Korea totaled 1.2 billion liters in 2022, led by HiteJinro with 45% share
- Beer production reached 1.8 billion liters in 2023, with a 2.3% decline due to health trends
- Traditional Korean rice liquor (Makgeolli) output increased to 85 million liters in 2022, up 12.4%
- Carbonated beverage production capacity in Korea stood at 4.5 billion liters annually in 2023
- RTD coffee production volumes hit 650 million units in 2022, growing 11.7% YoY
- Bottled green tea production reached 1.1 billion liters in 2023, with 60% from major firms
- Energy drink production in South Korea was 320 million liters in 2022, up 14.2%
- Fruit juice concentrate production totaled 450,000 tons in 2023
- Low-alcohol beverage production surged to 250 million liters in 2022, reflecting 18.5% growth
- Milk-based beverage production volume was 2.3 billion liters in 2023, down 1.2% YoY
- Soju production facilities operated at 92% capacity utilization in 2023, yielding 1.25 billion liters
- Craft beer production volumes tripled to 20 million liters in 2022 from 2019 levels
- Barley-based beverage production for beer reached 500,000 tons in 2023
- PET bottle production for beverages totaled 15 billion units in Korea in 2022
- Instant coffee production hit 45,000 tons in 2023, exported 60% of output
- Electrolyte drink production was 180 million liters in 2022, up 17%
- Traditional herbal tea production volumes reached 300 million liters in 2023
- Soda production lines produced 4.8 billion liters annually in 2023 capacity
- Yogurt drink production totaled 1.5 billion packs in 2022
- Kombucha and fermented tea production grew to 15 million liters in 2023
Production Statistics Interpretation
South Korea’s beverage landscape is a spirited tug-of-war where venerable soju stands its ground against a sobering decline in beer, while trendy coffees and health-tonics race forward, all awash in a sea of PET bottles.
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