Soju Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2021-2031

The Global Soju Market is projected to expand from a valuation of USD 5.87 billion in 2025 to USD 7.97 billion by 2031, reflecting a compound annual growth rate of 5.23%. Originally a clear, colorless spirit distilled from grains like rice, wheat, or barley, modern soju often incorporates starches such as sweet potato or tapioca. The industry's upward trajectory is largely fueled by the global proliferation of Korean culture, known as the "Hallyu" wave, and a growing consumer preference for lower-alcohol beverages that encourage social interaction. Data from the Korea Customs Service indicates that South Korea’s soju exports achieved a value of 101.4 million U.S. dollars in 2023.

However, the market faces significant hurdles due to intricate international regulations and high excise taxes on imported spirits, which can elevate retail prices and limit accessibility in price-sensitive areas. Additionally, fluctuations in the cost of raw materials present a continuous difficulty for manufacturers who must preserve the affordability that constitutes a core aspect of the product's appeal. These economic pressures challenge producers to maintain the value proposition that drives the spirit's widespread consumption.

Market Drivers

The expanding global reach of the Hallyu wave and Korean pop culture acts as a major engine for the soju market, elevating the spirit from a regional staple to an international lifestyle symbol. K-pop and K-drama have significantly boosted brand recognition and demand worldwide, encouraging major distributors to introduce these products into Western retail outlets. For instance, a May 2025 report by The Spirits Business noted that Lotte Chilsung Beverage experienced a 700% increase in U.S. soju volumes in the year leading up to March 2025, a surge attributed to the cultural popularity of Korea. Furthermore, The Korea Times reported that market leader HiteJinro sold 96.8 million cases globally in 2024, securing its position as the top-selling spirit.

Concurrently, the introduction of product innovations, such as zero-sugar and fruit-flavored varieties, is actively broadening the consumer base. Manufacturers are adjusting their offerings to match wellness trends by releasing lower-calorie and lower-alcohol options that attract health-conscious millennials and Gen Z consumers who typically avoid stronger spirits. This approach has successfully boosted domestic figures and attracted new drinkers, as highlighted by ChosunBiz in October 2025; the report stated that cumulative sales of the zero-sugar brand 'Saero' exceeded 700 million bottles by July 2025, demonstrating the strong commercial potential of these updated formulations.

Market Challenges

Unpredictable raw material costs represent a major obstacle to the steady expansion of the Global Soju Market. The competitiveness of soju has long relied on its affordability, a feature that depends heavily on maintaining low production expenses. However, when the prices of key inputs like ethanol, glass bottles, and agricultural starches rise, producers are often forced to increase wholesale rates to protect their profit margins. This inevitable price hike diminishes the product's attractiveness in price-sensitive markets and encourages consumers to switch to alternative local spirits, thereby slowing market penetration and reducing sales volume.

The negative effect of these economic factors is reflected in recent industry statistics. According to the Korea Agro-Fisheries & Food Trade Corp. (aT), retail sales volumes of soju contracted in 2023, registering a 7.1 percent decrease during the first half of the year compared to the same period in the previous year. This decline demonstrates how rising input costs, when transferred to the consumer, can rapidly suppress demand and disrupt the overall growth momentum of the market.

Market Trends

The market is witnessing a rapid shift toward mainstream Western retail and convenience channels, as producers expand beyond ethnic specialty shops to secure placement in major international supermarket chains. This strategy aims to diversify export markets and lessen dependence on Asian regions, effectively positioning soju as a global staple comparable to vodka or gin. By highlighting the spirit's versatility and lower alcohol content, manufacturers are successfully entering high-volume retailers in North America and Europe. A March 2025 report by Maeil Business Newspaper confirmed that South Korea’s annual soju exports exceeded 200 million U.S. dollars for the first time, driven by substantial shipments to new markets like France and Germany.

In parallel, there is a growing trend toward premiumization through artisanal and craft distillation, serving as a counter-movement to mass-market diluted products for consumers with sophisticated tastes. This segment emphasizes authenticity by utilizing 100 percent traditional rice distillation, eliminating artificial sweeteners, and employing extended aging in pottery to create a high-value category distinct from standard offerings. This "drink less, drink better" philosophy appeals to higher-income buyers and gift-givers who appreciate heritage and complex flavors. Validating this trend, Daum News reported in December 2025 that the premium brand Hwayo achieved revenue of 39.7 billion won in the prior year, confirming the commercial viability of high-end, traditionally distilled soju.

Key Players Profiled in the Soju Market

• HiteJinro Co., Ltd.
• Lotte Chilsung Beverage Co., Ltd.
• Korea Alcohol Co., Ltd.
• Hwayo
• The Soju Company
• OB Brewing Co., Ltd.
• Sool Soju
• Tokki Soju
• The Han
• C1 Soju

Report Scope

In this report, the Global Soju Market has been segmented into the following categories:

Soju Market, by Product Type:

• Distilled
• Diluted

Soju Market, by Packaging:

• Bottles
• Cans
• Pouches

Soju Market, by Distribution Channel:

• Hypermarkets & Supermarkets
• Convenience Stores
• Online
• Others

Soju Market, by Region:

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Soju Market.

Available Customization

The analyst offers customization according to your specific needs. The following customization options are available for the report:

• Detailed analysis and profiling of additional market players (up to five).

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