Republic of Korea - Spirits, Liqueurs And Other Spirituous Beverages - Market Analysis, Forecast, Size, Trends and Insights
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View PricingSpirits and Liqueurs Price in South Korea - 2022
Contents:
- Spirits and Liqueurs Price in South Korea (CIF) - 2022
- Spirits and Liqueurs Price in South Korea (FOB) - 2022
- Spirits and Liqueurs Imports in South Korea
- Spirits and Liqueurs Exports in South Korea
Spirits and Liqueurs Price in South Korea (CIF) - 2022
In December 2022, the average spirits and liqueurs import price amounted to $5.8 per litre, which is down by -6.2% against the previous month. Overall, the import price continues to indicate a pronounced reduction. The pace of growth was the most pronounced in June 2022 when the average import price increased by 18% m-o-m. The import price peaked at $7.7 per litre in December 2021; however, from January 2022 to December 2022, import prices stood at a somewhat lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was France ($14.7 per litre), while the price for Singapore ($978 per thousand litres) was amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by Germany (+7.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Spirits and Liqueurs Price in South Korea (FOB) - 2022
The average spirits and liqueurs export price stood at $1.4 per litre in December 2022, waning by -1.8% against the previous month. In general, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in January 2022 when the average export price increased by 13% m-o-m. Over the period under review, the average export prices attained the maximum at $1.5 per litre in August 2022; however, from September 2022 to December 2022, the export prices stood at a somewhat lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was the United States ($2.7 per litre), while the average price for exports to Japan ($1.0 per litre) was amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+3.3%), while the prices for the other major destinations experienced more modest paces of growth.
Spirits and Liqueurs Imports in South Korea
In 2022, imports of spirits, liqueurs and other spirituous beverages into South Korea was estimated at 41M litres, picking up by 1.9% on 2021 figures. In general, imports, however, saw a noticeable descent. The growth pace was the most rapid in 2021 with an increase of 5.4% against the previous year. Imports peaked at 45M litres in 2019; however, from 2020 to 2022, imports remained at a lower figure.
In value terms, spirits and liqueurs imports reduced modestly to $235M in 2022. The total import value increased at an average annual rate of +2.6% from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 28%. As a result, imports reached the peak of $239M, and then shrank slightly in the following year.
| Import of Spirits and Liqueurs in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Kingdom | 145 | 125 | 156 | 153 | 1.8% |
| China | 14.4 | 13.9 | 14.9 | 14.6 | 0.5% |
| United States | 13.8 | 9.8 | 14.0 | 13.7 | -0.2% |
| France | 8.0 | 7.6 | 10.6 | 10.4 | 9.1% |
| Japan | 4.8 | 4.2 | 4.9 | 4.8 | 0.0% |
| Singapore | 1.0 | 2.2 | 4.3 | 4.2 | 61.3% |
| Mexico | 4.8 | 2.9 | 3.6 | 3.6 | -9.1% |
| Sweden | 3.8 | 2.3 | 3.4 | 3.3 | -4.6% |
| New Zealand | 2.8 | 2.4 | 2.1 | 2.3 | -6.3% |
| Spain | 2.1 | 1.7 | 1.9 | 1.8 | -5.0% |
| Others | 16.5 | 14.2 | 22.7 | 22.7 | 11.2% |
| Total | 217 | 186 | 239 | 235 | 2.7% |
Top Suppliers of Spirits and Liqueurs to South Korea in 2022:
- United Kingdom (15.5M litres)
- China (8.0M litres)
- Singapore (4.8M litres)
- United States (2.7M litres)
- New Zealand (1.6M litres)
- Japan (1.5M litres)
- France (0.8M litres)
- Sweden (0.8M litres)
- Spain (0.7M litres)
- Mexico (0.6M litres)
Spirits and Liqueurs Exports in South Korea
In 2022, after three years of growth, there was decline in shipments abroad of spirits, liqueurs and other spirituous beverages, when their volume decreased by -0.9% to 119M litres. The total export volume increased at an average annual rate of +6.4% over the period from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 11% against the previous year. As a result, the exports reached the peak of 120M litres, leveling off in the following year.
In value terms, spirits and liqueurs exports stood at $175M in 2022. The total export value increased at an average annual rate of +4.0% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 13% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to see gradual growth in years to come.
| Export of Spirits and Liqueurs in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 77.9 | 55.2 | 55.5 | 59.8 | -8.4% |
| China | 18.4 | 24.4 | 33.3 | 32.3 | 20.6% |
| United States | 19.0 | 19.5 | 24.2 | 23.5 | 7.3% |
| Philippines | 7.7 | 16.2 | 12.7 | 12.3 | 16.9% |
| Vietnam | 6.4 | 6.0 | 7.7 | 7.5 | 5.4% |
| Singapore | 1.6 | 3.5 | 4.5 | 4.4 | 40.1% |
| Malaysia | 2.1 | 4.3 | 4.2 | 4.1 | 25.0% |
| Cambodia | 1.0 | 1.6 | 3.8 | 3.7 | 54.7% |
| Australia | 3.3 | 3.2 | 3.5 | 3.4 | 1.0% |
| Thailand | 2.5 | 3.6 | 3.6 | 3.4 | 10.8% |
| Hong Kong SAR | 2.1 | 3.4 | 3.5 | 3.4 | 17.4% |
| Taiwan (Chinese) | 1.8 | 2.4 | 3.0 | 2.9 | 17.2% |
| Others | 11.5 | 10.5 | 14.3 | 14.1 | 7.0% |
| Total | 155 | 154 | 174 | 175 | 4.1% |
Top Export Markets for Spirits and Liqueurs from South Korea in 2022:
- Japan (46.9M litres)
- China (21.2M litres)
- United States (12.9M litres)
- Philippines (8.2M litres)
- Vietnam (5.2M litres)
- Singapore (2.6M litres)
- Malaysia (2.6M litres)
- Thailand (2.4M litres)
- Cambodia (2.3M litres)
- Australia (2.2M litres)
- Hong Kong SAR (2.0M litres)
- Taiwan (Chinese) (1.8M litres)
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
-
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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