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.
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)
Related Markets
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 |
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South Korea craft spirits market size, by product, 2017-2030 (US$M)
South Korea Craft Spirits Market Outlook Share, 2023 & 2030 (US$M)
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