Republic of Korea - Spirits, Liqueurs and Other Spirituous Beverages - Market Analysis, Forecast, Size, Trends and Insights
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View PricingRepublic of Korea: Spirits And Liqueurs Market 2024
Spirits And Liqueurs Market Size in Republic of Korea
The South Korean spirits and liqueurs market dropped to $X in 2023, shrinking by X% against the previous year. Overall, consumption recorded a relatively flat trend pattern. Spirits and liqueurs consumption peaked at $X in 2019; however, from 2020 to 2023, consumption stood at a somewhat lower figure.
Spirits And Liqueurs Production in Republic of Korea
In value terms, spirits and liqueurs production dropped slightly to $X in 2023 estimated in export price. Over the period under review, production recorded a slight decline. The growth pace was the most rapid in 2015 when the production volume increased by X% against the previous year. Spirits and liqueurs production peaked at $X in 2019; however, from 2020 to 2023, production failed to regain momentum.
Spirits And Liqueurs Exports
Exports from Republic of Korea
In 2023, after three years of growth, there was decline in shipments abroad of spirits, liqueurs and other spirituous beverages, when their volume decreased by X% to X litres. The total export volume increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, the exports reached the maximum at X litres in 2022, and then dropped slightly in the following year.
In value terms, spirits and liqueurs exports declined modestly to $X in 2023. Over the period under review, exports recorded a mild downturn. The pace of growth was the most pronounced in 2021 with an increase of X%. The exports peaked at $X in 2012; however, from 2013 to 2023, the exports remained at a lower figure.
Exports by Country
Japan (X litres), China (X litres) and the United States (X litres) were the main destinations of spirits and liqueurs exports from South Korea, together comprising X% of total exports. The Philippines and Malaysia lagged somewhat behind, together comprising a further X%.
From 2012 to 2023, the biggest increases were recorded for Malaysia (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.
In value terms, the largest markets for spirits and liqueurs exported from South Korea were the United States ($X), Japan ($X) and China ($X), together comprising X% of total exports. The Philippines and Malaysia lagged somewhat behind, together accounting for a further X%.
Malaysia, with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.
Export Prices by Country
The average spirits and liqueurs export price stood at $X per litre in 2023, flattening at the previous year. In general, the export price continues to indicate a pronounced slump. The pace of growth was the most pronounced in 2016 an increase of X% against the previous year. Over the period under review, the average export prices hit record highs at $X per litre in 2012; however, from 2013 to 2023, the export prices remained at a lower figure.
There were significant differences in the average prices for the major export markets. In 2023, amid the top suppliers, the country with the highest price was the United States ($X per litre), while the average price for exports to Japan ($X per litre) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (X%), while the prices for the other major destinations experienced mixed trend patterns.
Spirits And Liqueurs Imports
Imports into Republic of Korea
In 2023, after two years of growth, there was significant decline in supplies from abroad of spirits, liqueurs and other spirituous beverages, when their volume decreased by X% to X litres. Overall, total imports indicated a temperate expansion from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2022 with an increase of X%. As a result, imports attained the peak of X litres, and then contracted in the following year.
In value terms, spirits and liqueurs imports contracted dramatically to $X in 2023. In general, total imports indicated a slight expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2022 when imports increased by X% against the previous year. As a result, imports attained the peak of $X, and then fell remarkably in the following year.
Imports by Country
In 2023, the UK (X litres) constituted the largest supplier of spirits and liqueurs to South Korea, with a X% share of total imports. Moreover, spirits and liqueurs imports from the UK exceeded the figures recorded by the second-largest supplier, China (X litres), threefold. The third position in this ranking was taken by Singapore (X litres), with an X% share.
From 2012 to 2023, the average annual growth rate of volume from the UK stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Singapore (X% per year).
In value terms, the UK ($X) constituted the largest supplier of spirits, liqueurs and other spirituous beverages to South Korea, comprising X% of total imports. The second position in the ranking was held by the United States ($X), with an X% share of total imports. It was followed by China, with a X% share.
From 2012 to 2023, the average annual rate of growth in terms of value from the UK was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and China (X% per year).
Import Prices by Country
The average spirits and liqueurs import price stood at $X per litre in 2023, waning by X% against the previous year. Overall, the import price recorded a slight reduction. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. The import price peaked at $X per litre in 2012; however, from 2013 to 2023, import prices failed to regain momentum.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per litre), while the price for Singapore ($X per litre) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Australia (X%), while the prices for the other major suppliers experienced more modest paces of growth.
Source: IndexBox Platform
This report provides an in-depth analysis of the spirits and liqueurs market in Republic of Korea. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 11011020 - Spirits obtained from distilled grape wine or grape marc (important: excluding alcohol duty)
- Prodcom 11011030 - Whisky (important: excluding alcohol duty)
- Prodcom 11011040 - Rum and other spirits obtained by distilling fermented sugarcane products (important: excluding alcohol duty)
- Prodcom 11011050 - Gin and geneva (important: excluding alcohol duty)
- Prodcom 11011063 - Vodka of an alcoholic strength by volume of . .45,4 % (important: excluding alcohol duty)
- Prodcom 11011065 - Spirits distilled from fruit (excluding liqueurs, gin, geneva, g rape wine or grape marc (important: excluding alcohol duty))
- Prodcom 11011070 - Pure alcohols (important: excluding alcohol duty)
- Prodcom 11011080 - Spirits, liqueurs and other spirituous beverages (excluding spirits distilled from grape wine, grape marc or fruit/whisky, r um, tafia, gin and geneva, spirits distilled from fruit)
Country coverage:
- South Korea
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Republic of Korea
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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