South Korea Craft Beer Market Overview
Base Year: 2023
Historical Years: 2018-2023
Forecast Years: 2024-2032
Market Growth Rate: 8.90% (2024-2032)
The increasing consumer preference for unique and high-quality beer options represents one of the key factors contributing to the growth of the market in South Korea. According to the latest report by IMARC Group, the South Korea craft beer market size is projected to exhibit a growth rate (CAGR) of 8.90% during 2024-2032.
South Korea Craft Beer Market Trends and Drivers:
The increasing consumer preference for unique and high-quality beer options represents one of the key factors contributing to the growth of the market in South Korea. As people are becoming more experimental with their taste preferences, they are shifting away from mass-produced beers in favor of craft beers offering distinctive flavors and a more personalized drinking experience. This encourages local breweries to experiment with a variety of ingredients and brewing techniques, creating a diverse range of craft beers that cater to the evolving tastes of beer enthusiasts.
In addition, the expanding number of microbreweries and craft beer bars in the country are serving as venues for tasting unique brews and as community hubs where people can gather, learn about brewing techniques, and engage with brewers. This growing interest among consumers is building a sense of community and loyalty among consumers, which is driving the demand for craft beers in the country. Moreover, exposure to international travel and digital media is introducing consumers to global craft beer styles and brewing techniques, inspiring local brewers to innovate and incorporate these elements into their offerings.
Besides this, consumers are becoming more environmentally conscious and are favoring products made with local ingredients and sustainable practices, which is encouraging craft breweries to use locally grown hops and barley and adopt eco-friendly production methods. This focus on sustainability is resonating with consumers seeking authentic, high-quality beer options aligning with their values, thereby supporting the market growth in South Korea.
Governing agencies of the country are also relaxing restrictions on beer production and distribution, making it easier for small breweries to enter the market. Furthermore, social media and digital marketing are allowing breweries to engage directly with consumers, share their stories, and promote new releases. Online beer communities and review sites are enabling consumers to explore different options, share recommendations, and stay informed about the latest trends, further offering a favorable market outlook in the country.
Download sample copy of the Report: https://www.imarcgroup.com/south-korea-craft-beer-market/requestsample
South Korea Craft Beer Industry Segmentation:
The report has segmented the market into the following categories:
Breakup by Product Type:
- Ales
- Lagers
- Others
Breakup by Age Group:
- 21-35 Years Old
- 40-54 Years Old
- 55 Years and Above
Breakup by Distribution Channel:
- On-Trade
- Off-Trade
Breakup by Region:
- Seoul Capital Area
- Yeongnam (Southeastern Region)
- Honam (Southwestern Region)
- Hoseo (Central Region)
- Others
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
- American Express Company
- Kakao Pay Corp.
- Mastercard Inc.
- Naver Corporation
- NHN PAYCO Corp.
- Rapyd Financial Network (2016) Ltd.
- Samsung Electronics Co. Ltd.
- Visa Inc.
- Viva Republica Inc.
Key highlights of the Report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Strategic Recommendations
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provides a comprehensive suite of market entry and expansion services. IMARC offerings include a thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape, and benchmarking analyses, pricing and cost research, and procurement research.
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