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Consumer and Market Insights: Wine in South Korea

Consumer and Market Insights: Wine in South Korea

Summary

The Wine market in South Korea is forecast to grow at a CAGR of 13.3%, in value terms during 2015-2020. Among all categories, Sparkling Wine category is expected to register the fastest value growth during 2015-2020. Hypermarkets & Supermarkets is the leading distribution channel. Dom Perignon and Duegradi are the leading brands in the South Korean Wine Market. Imported Wine will still dominate the South Korean Wine market.

The Wine market in South Korea is forecast to grow at a CAGR of 13.3%, in value terms during 2015-2020. Among all categories, Sparkling Wine category is expected to register the fastest value growth during 2015-2020. Hypermarkets & Supermarkets is the leading distribution channel. Dom Perignon and Duegradi are the leading brands in the South Korean Wine Market. Imported Wine will still dominate the South Korean Wine market.

Scope

  • The Wine market in South Korea is forecast to grow at a CAGR of 13.3% in value terms during 2015-2020
  • South Korea's consumers are opting for value for money products in the Wine market
  • The Sparkling Wine category is expected to register fastest value growth among all categories during 2015-2020
  • Hypermarkets & Supermarkets is the leading distribution channel in South Korea's Wine market
  • The use of Glass as packaging material is forecast to grow at a CAGR of 12.0% during 2015-2020
Reasons to buy
  • Identify high potential categories and explore further market opportunities based on detailed value and volume analysis
  • Existing and new players can analyze key distribution channels to identify and evaluate trends and opportunities
  • Gain an understanding of the total competitive landscape based on detailed brand share analysis to plan effective market positioning
  • Access the key and most influential consumer trends driving Wine products consumption, and how they influence consumer behavior in the market which will help determine the best audiences to target
  • Access to analysis on products launched in the market
  • Our team of analysts have placed a significant emphasis on changes expected in the market that will provide a clear picture of the opportunities that can be tapped over the next five years, resulting in revenue expansion


  • Country Context
    • Expected slow down in the South Korean economy is likely to impact the Consumer Packaged Goods market
  • Market Overview
    • The Wine market in South Korea is forecast to grow at a CAGR of 13.3% in value terms during 2015-2020
      • Table Market value of Wine in South Korea, 2010-2020
    • Appreciation of KRW against the US$ meant the South Korean Wine market grew at a higher rate in US$ terms during 2010-2015
      • Table Exchange rate fluctuations: US$ to KRW
    • South Korea's consumers are opting for value for money products in the Wine market
    • The Still Wine category has the highest volume share in the overall Wine market
      • Table Market volume by category (2015), CAGR (2015-2020)
    • The Sparkling Wine category is expected to register fastest value growth among all categories during 2015-2020
    • The Fortified Wine category is forecast to grow at a CAGR of 3.6% during 2015-2020
    • The Still Wine category is excepted to grow at a CAGR of 11.4% in the South Korean Wine market
    • The Sparkling Wine category is expected to gain market share during 2015-2020
    • The Red Wine segment is expected to gain maximum share growth within the Still Wine category
      • Table Segment's share in the overall category value & change in market
    • Category level pricing
      • Table Average category level prices (KRW and US$) in the South Korean Wine market, 2015
  • Retail Landscape and Key Distribution Channels
    • Profiles of Selected Wine & Spirits Retailers
    • On-trade transactions account for the majority share in the distribution of Wine & Spirits in South Korea
    • Hypermarkets & Supermarkets is the leading distribution channel in South Korea's Wine market
  • Competitive Landscape
    • Dom Perignon is the leading brand in the Sparkling Wine category of the South Korean Wine market
    • Duegradi is the leading brand of Still Wine in South Korea
      • Table Brand shares (in volume terms) in the Wine market, 2015
  • Packaging
    • Glass is the most commonly used packaging material in the South Korean Wine market
    • Stopper is the commonly used closure type in the South Korean Wine market
    • The use of Glass as packaging material is forecast to grow at a CAGR of 12.0% during 2015-2020
  • Consumer Trends
    • Gender Specificity: With more Korean women opting for lighter and sweeter liqueurs the demand for Sparkling Wine is on rise
    • Sensory Fusion: Wines that enhance the flavor of food such as meat are gaining popularity in South Korea
    • Single Lifestyles: Increasing single-households will drive demand for smaller pack sizes
    • Demand for affordable Wines will swell from value-seeking Korean consumers
    • Imported Wine will still dominate the South Korean Wine market
  • Examples of Product Development
    • Examples of product developments in South Korea's Wine market
  • Appendix
    • Country Context
      • Table Exchange Rates: US$-KRW , 2010-2020
      • Table GDP Per Capita (KRW)
      • Table Population
      • Table Consumer Price Index
      • Table Age Profile (Millions of Persons)
    • Category value and volume data
      • Table Fortified Wine
      • Table Sparkling Wine
      • Table Still Wine
    • Sector Overview
      • Table South Korea Wine & Spirits Sales Distribution (Ltr Million)
      • Table Components Of Change
    • Segment data
      • Table Market Share by Segment by Value
    • Packaging Data
      • Table Packaging Materials in 2015 Vs. 2020 (Million Units)
      • Table Container Types in 2015 Vs. 2020 (Million Units)
      • Table Closure Types in 2015 Vs. 2020 (Million Units)
    • Category definitions
    • Segment definitions
    • Channel definitions
    • Sub-trends definitions: Health & Wellness trends
    • Sub-trends definitions: Sensory & Indulgence trends
    • Sub-trends definitions: Comfort & Uncertainty trends
    • Sub-trends definitions: Sustainability & Ethics trends
    • Sub-trends definitions: Individualism & Expression trends
    • Sub-trends definitions: Evolving Landscapes trends
    • Sub-trends definitions: Smart & Connected trends
    • Sub-trends definitions: Easy & Affordable trends
    • Methodology

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