Summary

Every taste symbolises the spirit of celebration and distinction in South Korea, where craftsmanship and elegance collide. South Koreans have a strong social drinking culture where gathering with friends, colleagues, or business partners for drinks is common. Vodka, along with other spirits, is often enjoyed in group settings, such as dinners, parties, or after-work gatherings. South Korea has seen a rise in mixology and cocktail culture, with a growing number of cocktail bars and skilled mixologists. Vodka is a popular base spirit for a wide range of cocktails, including classics like the Moscow Mule or unique creations that showcase local flavours and ingredients. While vodka is a distinct spirit, the popularity of traditional Korean liquor called "soju" has had an impact on the vodka culture in South Korea. Soju, a clear distilled alcohol with a mild flavour, is often mixed with other beverages or used as a base for cocktails. Some vodka cocktails may incorporate soju, showcasing a fusion of traditional and modern influences. South Korea's major cities, such as Seoul and Busan, have vibrant nightlife scenes with numerous bars, clubs, and lounges. Vodka is commonly offered at these venues, catering to the preferences of young adults and partygoers who enjoy socialising and dancing the night away. Drinking games are a popular pastime in South Korea's drinking culture. These games often involve competitive challenges and rules that add excitement and camaraderie to social gatherings. Vodka is frequently used in these games, enhancing the fun and enjoyment of the participants.

According to the research report "South Korea Vodka Market Overview, 2028," published by Bonafide Research, the South Korea vodka market was valued at above USD 457.03 million in 2022. In South Korea, there are several major brands of vodka that are popular and widely available. Jinro, Absolut, Smirnoff, Grey Goose, and Ciroc are available in the South Korean market. Vodka is available through various sales channels, catering to different consumer preferences. Large retail chains such as E-Mart, Homeplus, and Lotte Mart have dedicated sections for alcoholic beverages, including vodka. These supermarkets and hypermarkets offer convenience and a broad range of choices for customers to purchase vodka along with their other groceries. Convenience stores, such as CU, GS25, and 7-Eleven, are also prevalent in South Korea and often have a selection of vodka available for purchase. While the variety may be more limited compared to liquor stores or supermarkets, convenience stores offer the advantage of extended operating hours and accessibility. With the growing popularity of e-commerce in South Korea, many consumers prefer to purchase vodka online. Various online platforms, including dedicated liquor delivery services and e-commerce websites like Coupang, GMarket, and Naver Shopping, offer a wide selection of vodka brands for home delivery. Plain vodka still maintains a significant presence in the market. Traditional unflavored vodkas are preferred by consumers who appreciate the purity and neutrality of the spirit. Additionally, flavoured vodkas have gained significant popularity due to their ability to offer a wide range of unique and enticing flavours. South Korean consumers enjoy the added sweetness and variety that flavoured vodka provides, making it a popular choice for both casual drinking and cocktail mixing.

In South Korea, the regulations regarding vodka and other alcoholic beverages are overseen by various government agencies, including the Ministry of Food and Drug Safety (MFDS) and the National Tax Service (NTS). The vodka sold must meet specific labelling requirements. These requirements include displaying the alcohol content, brand name, country of origin, warnings about drinking and driving, and other mandatory information. Labels must be clear, accurate, and legible. Imported vodka brands must comply with import regulations and obtain the necessary permits and certifications from relevant authorities, such as the Korea Customs Service. Distributors and retailers of vodka must also adhere to licencing and distribution regulations set by the government. Traditional Korean spirits, such as soju, hold a dominant position in the South Korean market. Soju is widely consumed and deeply ingrained in Korean drinking culture. It poses a challenge for vodka producers as they compete with the popularity and affordability of soju. Convincing consumers to choose vodka over soju can be a hurdle. Building and maintaining an effective distribution network in South Korea can be challenging, particularly for new or smaller vodka brands. Establishing partnerships with distributors, ensuring proper availability in liquor stores, supermarkets, and other retail outlets, and reaching consumers in various regions across the country require strategic planning and investment.

South Korea has been experiencing a growing interest in international spirits, including vodka. As consumers become more exposed to global trends and flavours, there is an increasing openness to trying different spirits, expanding beyond traditional choices like soju. This presents an opportunity for vodka brands to cater to evolving consumer preferences. There is a growing market for premium and craft spirits in South Korea as consumers seek higher-quality and distinctive products. This trend opens up opportunities for premium vodka brands and craft distilleries that can offer unique flavour profiles, artisanal production techniques, and a focus on quality ingredients. Premium vodka brands can target the luxury segment and cater to consumers willing to pay a premium for refined drinking experiences. There is a growing market for premium and craft spirits in South Korea as consumers seek higher-quality and distinctive products. This trend opens up opportunities for premium vodka brands and craft distilleries that can offer unique flavour profiles, artisanal production techniques, and a focus on quality ingredients. Premium vodka brands can target the luxury segment and cater to consumers willing to pay a premium for refined drinking experiences.

Considered in this report

• Geography: South Korea
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report

• South Korea Vodka Market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Product Type

• Plain Vodka
• Flavored Vodka

By Quality

• Standard
• Premium
• Ultra-Premium

By Sales Channel

• On trade
• Off trade

By Age Group

• 18 to 28
• 29 to 38
• 39 to 48
• 48 +

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual reports of companies, and analysing government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us. we have started verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Vodka Market, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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Table of Contents

Table of Contents
1. Executive Summary
2. Market Structure
2.1. Market Considerate
2.2. Assumptions
2.3. Limitations
2.4. Abbreviations
2.5. Sources
2.6. Definitions
2.7. Geography
3. Research Methodology
3.1. Secondary Research
3.2. Primary Data Collection
3.3. Market Formation & Validation
3.4. Report Writing, Quality Check & Delivery
4. US Macro Economic Indicators
5. Market Dynamics
5.1. Key Findings
5.2. Key Developments - 2021
5.3. Market Drivers & Opportunities
5.4. Market Restraints & Challenges
5.5. Market Trends
5.6. Covid-19 Effect
5.7. Supply chain Analysis
5.8. Policy & Regulatory Framework
5.9. Industry Experts Views
6. US Fruit & Vegetable Juice Market Overview
6.1. Market Size By Value
6.2. Market Size and Forecast By Product Types
6.3. Market Size and Forecast By Distribution Channel
7. US Fruit & Vegetable Juice Market Segmentations
7.1. US Fruit & Vegetable Juice Market, By Product Types
7.1.1. US Fruit & Vegetable Juice Market Size, By Fruit Juice, 2017-2028
7.1.2. US Fruit & Vegetable Juice Market Size, By Vegetable Juice, 2017-2028
7.1.3. US Fruit & Vegetable Juice Market Size, By Fruit and Vegetable Blend, 2017-2028
7.1.4. US Fruit & Vegetable Juice Market Size, By Nectar, 2017-2028
7.2. US Fruit & Vegetable Juice Market, By Distribution Channel
7.2.1. US Fruit & Vegetable Juice Market Size, By Supermarkets/Hypermarkets, 2017-2028
7.2.2. US Fruit & Vegetable Juice Market Size, By Convenience Stores, 2017-2028
7.2.3. US Fruit & Vegetable Juice Market Size, By Online, 2017-2028
7.2.4. US Fruit & Vegetable Juice Market Size, By Others (Cafes, Clubs, Restaurants, Etc.), 2017-2028
8. US Fruit & Vegetable Juice Market Opportunity Assessment
8.1. By Product Types, 2023 to 2028
8.2. By Distribution Channel, 2023 to 2028
9. Competitive Landscape
9.1. Porter's Five Forces
9.2. Company Profile
9.2.1. Company 1
9.2.1.1. Company Snapshot
9.2.1.2. Company Overview
9.2.1.3. Financial Highlights
9.2.1.4. Geographic Insights
9.2.1.5. Business Segment & Performance
9.2.1.6. Product Portfolio
9.2.1.7. Key Executives
9.2.1.8. Strategic Moves & Developments
9.2.2. Company 2
9.2.3. Company 3
9.2.4. Company 4
9.2.5. Company 5
9.2.6. Company 6
9.2.7. Company 7
9.2.8. Company 8
10. Strategic Recommendations
11. Disclaimer

List of Figures
Figure 1: US Fruit & Vegetable Juice Market Size By Value (2017, 2022 & 2028F) (in USD Million)
Figure 2: Market Attractiveness Index, By Product Types
Figure 3: Market Attractiveness Index, By Distribution Channel
Figure 4: Porter's Five Forces of US Fruit & Vegetable Juice Market

List of Table
Table 1 : Influencing Factors for Global Fruit & Vegetable Juice Market, 2022
Table 2: US Fruit & Vegetable Juice Market Size and Forecast By Product Types (2017, 2022 & 2028F)
Table 3: US Fruit & Vegetable Juice Market Size and Forecast By Distribution Channel (2017, 2022 & 2028F)
Table 4: US Fruit & Vegetable Juice Market Size of Fruit Juice (2017 to 2028) in USD Million
Table 5: US Fruit & Vegetable Juice Market Size of Vegetable Juice (2017 to 2028) in USD Million
Table 6: US Fruit & Vegetable Juice Market Size of Fruit and Vegetable Blend (2017 to 2028) in USD Million
Table 7: US Fruit & Vegetable Juice Market Size of Nectar (2017 to 2028) in USD Million
Table 8: US Fruit & Vegetable Juice Market Size of Supermarkets/Hypermarkets (2017 to 2028) in USD Million
Table 9: US Fruit & Vegetable Juice Market Size of Convenience Stores (2017 to 2028) in USD Million
Table 10: US Fruit & Vegetable Juice Market Size of Online (2017 to 2028) in USD Million
Table 11: US Fruit & Vegetable Juice Market Size of Others (Cafes, Clubs, Restaurants, Etc.) (2017 to 2028) in USD Million