South Korea Craft Spirits Market Size & Outlook, 2023-2030
The craft spirits market in South Korea is expected to reach a projected revenue of US$ 1,675.2 million by 2030. A compound annual growth rate of 34.1% is expected of South Korea craft spirits market from 2024 to 2030.
- Food Beverages & Tobacco
- Alcohol & Tobacco
- Craft Spirits Market Outlook
- Alcohol & Tobacco
Revenue, 2023 (US$M)
$214.7
Forecast, 2030 (US$M)
$1,675.2
CAGR, 2024 - 2030
34.1%
Report Coverage
South Korea
South Korea Craft Spirits Market, 2017-2030 (US$M)
Global Market
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South Korea craft spirits market highlights
- The South Korea craft spirits market generated a revenue of USD 214.7 million in 2023 and is expected to reach USD 1,675.2 million by 2030.
- The South Korea market is expected to grow at a CAGR of 34.1% from 2024 to 2030.
- In terms of segment, whiskey was the largest revenue generating product in 2023.
- Gin is the most lucrative product segment registering the fastest growth during the forecast period.
Craft spirits market data book summary
| Market revenue in 2023 | USD 214.7 million |
| Market revenue in 2030 | USD 1,675.2 million |
| Growth rate | 34.1% (CAGR from 2023 to 2030) |
| Largest segment | Whiskey |
| Fastest growing segment | Gin |
| Historical data | 2017 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Whiskey, Vodka, Gin, Rum, Brandy, Liquer |
| Key market players worldwide | Diageo PLC, Pernod Ricard SA, Constellation Brands Inc Class A, Suntory Beverage & Food Ltd, Bacardi, Heaven Hill Distilleries, Campari Group, Sazerac Company, Highwood Distillers, Rogue Ales |
Other key industry trends
- In terms of revenue, South Korea accounted for 1.0% of the global craft spirits market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China craft spirits market is projected to lead the regional market in terms of revenue in 2030.
- Japan is the fastest growing regional market in Asia Pacific and is projected to reach USD 3,172.4 million by 2030.
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Craft Spirits Market Scope
Craft Spirits Market segmentation & scope
Craft Spirits Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Suntory Beverage & Food Ltd | View profile | 24,641 | 3-1-1 Kyobashi, Tokyo Square Garden, Chuo-ku, Tokyo, Japan, 104-0031 | www.suntory.co.jp |
| Pernod Ricard SA | View profile | 20,617 | 5, Cours Paul Ricard, Paris, France, 75008 | www.pernod-ricard.com |
| Diageo PLC | View profile | 30,269 | 16 Great Marlborough Street, London, United Kingdom, W1F 7HS | www.diageo.com |
| Constellation Brands Inc Class A | View profile | 10,600 | 207 High Point Drive, Building 100, Victor, New York, NY, United States, 14564 | www.cbrands.com |
| Bacardi | View profile | 5001-10000 | Hamilton, Hamilton, Bermuda, North America | www.bacardilimited.com/ |
| Heaven Hill Distilleries | View profile | 501-1000 | Bardstown, Kentucky, United States, North America | www.heavenhill.com/ |
| Sazerac Company | View profile | 1001-5000 | Metairie, Louisiana, United States, North America | www.sazerac.com/ |
| Campari Group | View profile | 1001-5000 | Sesto San Giovanni, Lombardia, Italy, Europe | www.camparigroup.com |
| Highwood Distillers | View profile | 11-50 | Calgary, Alberta, Canada, North America | www.highwood-distillers.com |
| Rogue Ales | View profile | - | Portland, Oregon, United States, North America | www.rogue.com/ |
South Korea Craft Spirits Market Outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to Craft Spirits Market Outlook will help companies and investors design strategic landscapes.
Whiskey was the largest segment with a revenue share of 44.9% in 2023.
Horizon Databook has segmented the South Korea craft spirits market based on whiskey, vodka, gin, rum, brandy, liquer covering the revenue growth of each sub-segment from 2017 to 2030.
- South Korea Craft Spirits Market Product Outlook (Revenue, USD Million , 2017-2030)
- Whiskey
- Vodka
- Gin
- Rum
- Brandy
- Liquer
- Others
- South Korea Craft Spirits Market Distribution Channel Outlook (Revenue, USD Million , 2017-2030)
- On-trade
- Off-trade
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea Craft Spirits Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into South Korea Craft Spirits Market Outlook from 2017 to 2030, including revenue numbers, major trends, and company profiles.
South Korea Craft Spirits Market, 2017-2030 (US$M)
South Korea craft spirits market statistics, by product, 2017-2030 (US$M)
