Makgeolli Market To Reach $863.1 Million By 2030 | CAGR: 7.5%

Makgeolli Market Growth & Trends

The global makgeolli market is expected to reach USD 863.1 million by 2030, growing at a CAGR of 7.5% from 2024 to 2030, according to a new report by Grand View Research, Inc. Health and wellness trends are another significant driver of the market. Consumers are increasingly seeking natural and healthier alternatives to conventional alcoholic beverages. Makgeolli, made from rice and other natural ingredients, is perceived as a healthier option due to its relatively low alcohol content and potential probiotic benefits from its fermentation process. This aligns well with the growing consumer preference for functional foods and drinks that offer health benefits.

Innovation in product offerings also plays a crucial role in driving the market. Producers continuously experiment with new flavors and formulations to cater to diverse consumer tastes. Introducing fruit-infused makgeolli and other flavored variants has broadened its appeal, especially among younger consumers who are more open to new and exotic beverages. Additionally, the premiumization trend, where consumers are willing to pay more for high-quality, artisanal products, has led to the development of premium makgeolli brands that emphasize traditional brewing methods and superior ingredients.

The trend toward health-conscious consumption is also influencing the market. As more consumers prioritize wellness in their dietary choices, makgeolli's natural composition and potential health benefits make it an attractive option. Low-alcohol and low-sugar versions of makgeolli are becoming increasingly popular, catering to those who want to enjoy alcoholic beverages more healthily.

Flavor innovation is another significant trend in the market. Producers are introducing a variety of new flavors, such as peach, strawberry, and apple, to attract a broader audience. These flavored makgeolli options appeal to younger consumers and those who might find traditional makgeolli too unfamiliar or robust in flavor. This trend diversifies the product range and helps tap into new consumer segments.

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Makgeolli Market Report Highlights

• The unflavored market is expected to grow at a CAGR of 9.7% from 2024 to 2030. A resurgence of consumer interest in traditional and authentic beverages drives this growth. As more individuals become health-conscious and seek natural products, unflavored Makgeolli's reputation for being a minimally processed, fermented drink with potential probiotic benefits becomes increasingly appealing

• Sales of makgeolli through on-trade distribution channels are expected to grow at a CAGR of 8.1% from 2024 to 2030. This growth is primarily driven by the increasing popularity of Korean cuisine and culture globally, which has led to a higher demand for authentic Korean beverages in dining and social settings

• The market in the Asia Pacific region is expected to witness a CAGR of 7.9% from 2024 to 2030, driven by several key factors unique to this region. As the birthplace of makgeolli, Asia Pacific holds a deep cultural and historical connection to this traditional Korean rice wine, which continues to be a popular beverage choice in countries such as South Korea, Japan, and China

Makgeolli Market Report Segmentation

Grand View Research has segmented the global makgeolli market based on flavor, distribution channel, and region:

Makgeolli Flavor Outlook (Revenue, USD Million, 2018 - 2030)

• Flavored

• Unflavored

Makgeolli Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030­)

• Off-trade

  • Supermarkets & Hypermarkets

  • Specialty Stores

  • Online

  • Others

• On-trade

Makgeolli Regional Outlook (Revenue, USD Million, 2018 - 2030­)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • France

  • Germany

• Asia Pacific

  • China

  • Japan

  • India

  • South Korea

  • Vietnam

  • Thailand

• South America

  • Brazil

• Middle East & Africa

  • South Africa

List of Key Players in the Makgeolli Market

• Hana Makgeolli

• Kooksoondang Co.

• Vancouver Makgeolli

• IL DONG

• Kim’s Seng Mak

• Seoul Jangsoo Co, Ltd.

• Makku

• Soony

• Gyeongju Beopju

• BHD CO., LTD