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Top Growth Opportunities: Wine in South Korea

Top Growth Opportunities: Wine in South Korea


Among the top 10 wine markets, South Korea ranks eighth in terms of per capita expenditure in US dollar terms, larger than China and Malaysia. Per capita expenditure on wine products recorded strong growth of over 11% CAGR during 2011-2016, owing to strong economic development and increasing disposable incomes.

South Korean wine market recorded strong growth at a CAGR of about 12% during 2011-2016 and grew from over US$1.6 Billion in 2011 to around US$2.8 Billion in 2016. However, the market is forecast to record slower growth at a CAGR of around 7.5% during 2016-2021, owing to a weakening South Korean won against the US dollar, and the is expected to be worth over US$4 Billion by 2021.

South Korean wine market is being led by the still wine category, which recorded growth at a CAGR of over 10% during 2011-2016 and was valued at about US$2.2 Billion in 2016. However, it is expected to record slower growth at 7.5% CAGR during the next five years and will be worth just over US$3.2 Billion by 2021. On the other hand, sparkling wine, the second largest category in the market, which grew by about 19% CAGR during 2011-2016, is forecast to record the fastest growth at just over 9.5% CAGR during the next five years and will be worth just over US$850Million by 2021.

Similarly, fortified wine, the least valued category, recorded CAGR growth of 2.5% in the last five years and is expected to register faster growth at over 3% CAGR during the forecast period. However, it will be the slowest growing among all the categories and will be worth around US$4Million by 2021.

The report Top Growth Opportunities: Wine in South Korea, provides recommended actions and detailed analysis of how to target the best growth opportunities for Wine producers and retailers. Readers can understand what categories, channels, companies, and consumers will drive the success of Wine markets in South Korea through our detailed and robust data, expert insight, and case studies.

In particular, this report provides the following -

  • Key consumer demographic groups driving consumption within the South Korea market. Improve your consumer targeting by understanding who’s driving the market, what they want, and why.
  • A study of market value and volumes over 2011-2016 for South Korea, supplemented with category, brand and packaging analysis that shows the current state of the market, and how it will evolve over the 2016-2021 period.
  • White space analysis, to pinpoint attractive spaces in the market and the key actions to take.
  • Insight into the implications behind the data, and analysis of how the consumer needs will evolve in the short-to-medium term future.
  • Examples of international and regional product innovation targeting key consumer needs.
Companies mentioned in this report: E-Mart, GS25, Durean Winery, Angel's Heart, F.W.LangguthErbenGmbh& Co. liters.

  • South Korea ranks as one of the smallest market in the global Wine sector in terms of value in US$ terms.
  • After a period of high growth at a CAGR of 12% in US$ terms between 2011 and 2016, the South Korea's Wine market will grow at a slower rate in the next five years to 2021, at a CAGR of 7.9%.
  • Wine consumption is centered on older consumers. The mature tastes and premium factors attached to Wine products are driving consumption within this group.
  • Over 2016-2021, still wine will remain the highest value category and alongside fortied wine it is expected to record loss of share growth in the same period with sparkling wine gaining market share
Reasons to buy
  • This report brings together consumer analysis and market data to provide actionable insight into the behavior of South Korea's Wine consumers.
  • This is based on GlobalData's unique consumer data, developed from extensive consumption surveys and consumer group tracking, which quantifies the influence of 20 consumption motivations in the Wine sector.
  • Category, brand, and packaging dynamics are also examined. This allows product and marketing strategies to be better aligned with the leading trends in the market.

1. Introducing a top growth market for wine
Top 10 global growth opportunities scores 8-
Top global issues
Assessment against global strategic issues
GlobalData’s strategic issues map
Predicted future issues for the global sector
Reward and risk assessment
Opportunity score - overview
Consumer spending trends - peer group comparisons
Political, economic, social, and technological: analysis
Enablers and inhibitors of growth
Rewards and opportunities for growth
Summary of the market
2. Market insight - identifying the opportunities to move into
Market growth by category
Value growth of the market 23-
Volume growth of the market 25-
Level of premiumization by category
Category analysis - key drivers of change
3. Retail and distribution insight - key channels and retailers driving growth
Wine retail channel share
Key retail channel trends
Routes to market 32-
Drivers of change in the sector
4. Company and brand insight - the competitive landscape defined
Category fragmentation
Company and brand strength
International and domestic brand analysis
Company and brand strength summary
5. Consumer insight - who, what, when, where, and why
Strategic issues map 41-
Key consumer driver implications
Key consumers trends
Consumer groups
Consumer trends summary
6. Product and packaging insights
Key product insights
Trends and strategic issues - other notable product trends
Key product innovation case studies 50-
Key packaging insights
Trends and strategic issues 53-
Product launch key takeouts
7. White spaces and innovation opportunities - space to move into
Growth segments to target
Consumer spaces to target
Segment opportunities
Product launch key takeouts
Key recommendations 61-
8. Appendix
List of Tables
Visualization of 10 countries growth opportunities
Visualization of 10 countries growth opportunities (continued)
Reward and risk assessment
Market value and split, 2011-2021
Winners and losers by category, value, 2016-2021
Volume growth by category, 2011-2021
Winners and losers by category, volume, 2016-2021
Key consumption volume shares by consumer group, 2016
Top categories by volume and CAGR, 2011-2016
List of Figures
Map of top opportunity markets
Map of top global issues
Global issue web
GlobalData’s strategic issues map
Average consumer spend, peer group comparisons, 2011-2021
Market value and split, 2011-2021
Value growth by category, 2011-2016 and 2016-2021
Value market growth by category, 2011-2021
Winners and losers by category, volume, 2016-2021
Value and volume growth by category, 2011-2021
Fragmentation by category, 2011-2016
Cumulative value share by brand, 2016
Packaging materials volume share, 2016 & 2021
Packaging closure materials volume share, 2016 & 2021
Projected CAGR for the top five categories by value, 2016-2021

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