Republic of Korea: Beer Market 2024

Beer Market Size in Republic of Korea

The South Korean beer market declined slightly to $X in 2022, with a decrease of X% against the previous year. In general, consumption showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Beer Production in Republic of Korea

In value terms, beer production declined modestly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of X%. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

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Beer Exports

Exports from Republic of Korea

After three years of decline, overseas shipments of beer increased by X% to X litres in 2022. Overall, exports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when exports increased by X%. Over the period under review, the exports hit record highs at X litres in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, beer exports surged to $X in 2022. Over the period under review, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X%. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Hong Kong SAR (X litres) was the main destination for beer exports from South Korea, with a X% share of total exports. Moreover, beer exports to Hong Kong SAR exceeded the volume sent to the second major destination, Japan (X litres), fourfold. The third position in this ranking was held by Mongolia (X litres), with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Hong Kong SAR was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (X% per year) and Mongolia (X% per year).

In value terms, Hong Kong SAR ($X) remains the key foreign market for beer exports from South Korea, comprising X% of total exports. The second position in the ranking was held by Japan ($X), with a X% share of total exports. It was followed by Mongolia, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Hong Kong SAR totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (X% per year) and Mongolia (X% per year).

Export Prices by Country

In 2022, the average beer export price amounted to $X per litre, increasing by X% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per litre. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per litre), while the average price for exports to Hong Kong SAR ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (X%), while the prices for the other major destinations experienced more modest paces of growth.

Beer Imports

Imports into Republic of Korea

In 2022, supplies from abroad of beer decreased by X% to X litres, falling for the fourth consecutive year after five years of growth. In general, imports, however, posted a strong expansion. The growth pace was the most rapid in 2014 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at X litres in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, beer imports dropped to $X in 2022. Overall, imports, however, enjoyed a prominent increase. The most prominent rate of growth was recorded in 2017 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X litres), the Netherlands (X litres) and Japan (X litres) were the main suppliers of beer imports to South Korea, together comprising X% of total imports. Germany, Ireland, Poland, the Czech Republic, the United States and Belgium lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), the Netherlands ($X) and Germany ($X) appeared to be the largest beer suppliers to South Korea, together accounting for X% of total imports. Poland, Ireland, Japan, the United States, the Czech Republic and Belgium lagged somewhat behind, together comprising a further X%.

Poland, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average beer import price amounted to $X per litre, flattening at the previous year. Overall, the import price showed a mild decrease. The pace of growth was the most pronounced in 2013 an increase of X%. As a result, import price reached the peak level of $X per litre. From 2014 to 2022, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per litre), while the price for the Netherlands ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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