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Soju Market Size, Share & Trends Analysis Report By Type (Distilled, Diluted), By Packaging (Bottles, Cans, Pouches), By Distribution Channel (On-trade, Off-trade), By Region, And Segment Forecasts, 2024 - 2030

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    Report

  • 100 Pages
  • August 2024
  • Region: Global
  • Grand View Research
  • ID: 5998913
Description Jump to:

Soju Market Growth & Trends

The global soju market is expected to reach USD 7.59 billion by 2030, expected to grow at a CAGR of 5.3% from 2024 to 2030. Soju's growing popularity can be attributed to a variety of factors, including diverse product offerings, affordability, social and lifestyle trends, marketing and brand innovation, health and wellness trends, and economic factors.

One key factor is the variety of flavors that soju producers have introduced. By offering a range of flavors and variations, soju appeals to a broader audience, including those who might find traditional soju too strong or unfamiliar. Affordability and accessibility also play significant roles in soju's popularity. Compared to other spirits and wines, soju is relatively inexpensive, making it an attractive option for consumers seeking cost-effective alcoholic beverages. Its wide availability in Asian and international markets further facilitates its purchase and consumption.

Social and lifestyle trends also contribute to Soju's growing presence. Soju is a staple in South Korea for social gatherings, business meetings, and celebrations. This social drinking culture is being exported and adopted in other countries, particularly among Korean expatriates and those who enjoy Korean cuisine and social practices. In addition, soju's versatility in cocktails has made it a favorite among mixologists and bartenders worldwide, increasing its presence in bars and restaurants.

Soju Market Report Highlights

  • Distilled soju accounted for a share of 71.30% in 2023. Distilled soju offers a distinct flavor profile that appeals to a wide range of consumers. Its neutral taste with subtle sweetness provides a flexible base for mixing cocktails or pairing with various cuisines. The clear, smooth taste of distilled soju, often compared to vodka, makes it an attractive choice for those looking for a clean, uncomplicated drinking experience.
  • Bottled soju accounted for a share of 48.50% in 2023. Bottled soju offers convenience for consumers who prefer to enjoy their drinks at home or on the go. The ease of storage, handling, and transportation makes bottled soju a practical choice for many, enhancing its appeal.
  • On trade is expected to grow at a CAGR of 5.8% from 2024 to 2030. Many bars and restaurants are expanding their beverage menus to include soju, recognizing its popularity and versatility. By offering soju as part of their drink selection, these establishments attract consumers who are interested in trying new and unique beverages, leading to higher demand through on-trade channels.
  • North America is expected to grow at a CAGR of 5.4% from 2024 to 2030. North American consumers are often keen to explore new and unique beverages. Soju's distinctive flavor profile and cultural heritage appeal to those looking for novel drinking experiences. This curiosity and willingness to try new products contribute to its growing popularity.

Why should you buy this report?

  • Comprehensive Market Analysis: Gain detailed insights into the global market across major regions and segments.
  • Competitive Landscape: Explore the market presence of key players worldwide.
  • Future Trends: Discover the pivotal trends and drivers shaping the future of the global market.
  • Actionable Recommendations: Utilize insights to uncover new revenue streams and guide strategic business decisions.

This report addresses:

  • Market intelligence to enable effective decision-making
  • Market estimates and forecasts from 2018 to 2030
  • Growth opportunities and trend analyses
  • Segment and regional revenue forecasts for market assessment
  • Competition strategy and market share analysis
  • Product innovation listing for you to stay ahead of the curve
  • COVID-19's impact and how to sustain in these fast-evolving markets


This product will be delivered within 1-3 business days.

Table of Contents

Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Purchased Database
1.3.2. Internal Database
1.3.3. Secondary Types & Third-Party Perspectives
1.3.4. Primary Research
1.4. Information Analysis
1.4.1. Data Analysis Models
1.5. Market Information & Data Visualization
1.6. Data Validation & Publishing
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Type Outlook
2.3. Packaging Outlook
2.4. Distribution Channel Outlook
2.5. Regional Outlook
2.6. Competitive Insights
Chapter 3. Soju Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.2. Industry Value Chain Analysis
3.2.1. Sales/Off Trade Channel Analysis
3.2.2. Profit Margin Analysis
3.3. Market Dynamics
3.3.1. Market Driver Analysis
3.3.2. Market Restraint Analysis
3.3.3. Industry Challenges
3.3.4. Industry Opportunities
3.4. Industry Analysis - Porter’s Five Force Analysis
3.5. Market Entry Strategies
Chapter 4. Soju Market: Type Analysis & Estimates
4.1. Soju Market, by Type: Key Takeaways
4.2. Type Movement Analysis & Market Share, 2023 & 2030
4.3. Market Estimates & Forecasts, by Type, 2018 - 2030 (USD Million)
4.3.1. Distilled
4.3.1.1. Market estimates and forecast, 2018 - 2030 (USD Million)
4.3.2. Diluted
4.3.2.1. Market estimates and forecast, 2018 - 2030 (USD Million)
Chapter 5. Soju Market: Packaging Estimates & Trend Analysis
5.1. Soju Market, by Packaging: Key Takeaways
5.2. Packaging Movement Analysis & Market Share, 2023 & 2030
5.3. Market Estimates & Forecasts, by Packaging, 2018 - 2030 (USD Million)
5.3.1. Bottles
5.3.1.1. Market estimates and forecast, 2018 - 2030 (USD Million)
5.3.2. Cans
5.3.2.1. Market estimates and forecast, 2018 - 2030 (USD Million)
5.3.3. Pouches
5.3.3.1. Market estimates and forecast, 2018 - 2030 (USD Million)
Chapter 6. Soju Market: Distribution Channel Estimates & Trend Analysis
6.1. Soju Market, by Distribution Channel: Key Takeaways
6.2. Distribution Channel Movement Analysis & Market Share, 2023 & 2030
6.3. Market Estimates & Forecasts, by Distribution Channel, 2018 - 2030 (USD Million)
6.3.1. On Trade
6.3.1.1. Market estimates and forecast, 2018 - 2030 (USD Million)
6.3.2. Off Trade
6.3.2.1. Market estimates and forecast, 2018 - 2030 (USD Million)
6.3.2.2. Supermarkets & Hypermarkets
6.3.2.2.1. Market estimates and forecast, 2018 - 2030 (USD Million)
6.3.2.3. Convenience Stores
6.3.2.3.1. Market estimates and forecast, 2018 - 2030 (USD Million)
6.3.2.4. Online
6.3.2.4.1. Market estimates and forecast, 2018 - 2030 (USD Million)
6.3.2.5. Others
6.3.2.5.1. Market estimates and forecast, 2018 - 2030 (USD Million)
Chapter 7. Soju Market: Regional Estimates & Trend Analysis
7.1. Soju Market: Regional Outlook
7.2. Regional Movement Analysis & Market Share, 2023 & 2030
7.3. Market Estimates & Forecasts, by Region & Country, 2018 - 2030 (USD Million)
7.3.1. North America
7.3.1.1. Market estimates and forecast, 2018 - 2030 (USD Million)
7.3.1.2. U.S.
7.3.1.2.1. Key country dynamics
7.3.1.2.2. Market estimates and forecast, 2018 - 2030 (USD Million)
7.3.1.3. Canada
7.3.1.3.1. Key country dynamics
7.3.1.3.2. Market estimates and forecast, 2018 - 2030 (USD Million)
7.3.1.4. Mexico
7.3.1.4.1. Key country dynamics
7.3.1.4.2. Market estimates and forecast, 2018 - 2030 (USD Million)
7.3.2. Europe
7.3.2.1. Market estimates and forecast, 2018 - 2030 (USD Million)
7.3.2.2. UK
7.3.2.2.1. Key country dynamics
7.3.2.2.2. Market estimates and forecast, 2018 - 2030 (USD Million)
7.3.2.3. Germany
7.3.2.3.1. Key country dynamics
7.3.2.3.2. Market estimates and forecast, 2018 - 2030 (USD Million)
7.3.2.4. France
7.3.2.4.1. Key country dynamics
7.3.2.4.2. Market estimates and forecast, 2018 - 2030 (USD Million)
7.3.2.5. Spain
7.3.2.5.1. Key country dynamics
7.3.2.5.2. Market estimates and forecast, 2018 - 2030 (USD Million)
7.3.2.6. Italy
7.3.2.6.1. Key country dynamics
7.3.2.6.2. Market estimates and forecast, 2018 - 2030 (USD Million)
7.3.3. Asia Pacific
7.3.3.1. Market estimates and forecast, 2018 - 2030 (USD Million)
7.3.3.2. China
7.3.3.2.1. Key country dynamics
7.3.3.2.2. Market estimates and forecast, 2018 - 2030 (USD Million)
7.3.3.3. Japan
7.3.3.3.1. Key country dynamics
7.3.3.3.2. Market estimates and forecast, 2018 - 2030 (USD Million)
7.3.3.4. India
7.3.3.4.1. Key country dynamics
7.3.3.4.2. Market estimates and forecast, 2018 - 2030 (USD Million)
7.3.3.5. South Korea
7.3.3.5.1. Key country dynamics
7.3.3.5.2. Market estimates and forecast, 2018 - 2030 (USD Million)
7.3.3.6. Australia
7.3.3.6.1. Key country dynamics
7.3.3.6.2. Market estimates and forecast, 2018 - 2030 (USD Million)
7.3.4. Central & South America
7.3.4.1. Market estimates and forecast, 2018 - 2030 (USD Million)
7.3.4.2. Brazil
7.3.4.2.1. Key country dynamics
7.3.4.2.2. Market estimates and forecast, 2018 - 2030 (USD Million)
7.3.5. Middle East & Africa
7.3.5.1. Market estimates and forecast, 2018 - 2030 (USD Million)
7.3.5.2. UAE
7.3.5.2.1. Key country dynamics
7.3.5.2.2. Market estimates and forecast, 2018 - 2030 (USD Million)
Chapter 8. Competitive Analysis
8.1. Recent developments & impact analysis, by key market participants
8.2. Company Categorization
8.3. Participant’s Overview
8.4. Financial Performance
8.5. Product Benchmarking
8.6. Company Market Share Analysis, 2023 (%)
8.7. Company Heat Map Analysis
8.8. Strategy Mapping
8.9. Company Profiles
8.10. HiteJinro Co., Ltd.
8.10.1. Company Overview
8.10.2. Financial Performance
8.10.3. Product Benchmarking
8.10.4. Strategic Initiatives
8.11. Lotte Chilsung Beverage Co., Ltd.
8.11.1. Company Overview
8.11.2. Financial Performance
8.11.3. Product Benchmarking
8.11.4. Strategic Initiatives
8.12. Korea Alcohol Co., Ltd.
8.12.1. Company Overview
8.12.2. Financial Performance
8.12.3. Product Benchmarking
8.12.4. Strategic Initiatives
8.13. Hwayo
8.13.1. Company Overview
8.13.2. Financial Performance
8.13.3. Product Benchmarking
8.13.4. Strategic Initiatives
8.14. The Soju Company
8.14.1. Company Overview
8.14.2. Financial Performance
8.14.3. Product Benchmarking
8.14.4. Strategic Initiatives
8.15. OB Brewing Co., Ltd.
8.15.1. Company Overview
8.15.2. Financial Performance
8.15.3. Product Benchmarking
8.15.4. Strategic Initiatives
8.16. Sool Soju
8.16.1. Company Overview
8.16.2. Financial Performance
8.16.3. Product Benchmarking
8.16.4. Strategic Initiatives
8.17. Tokki Soju
8.17.1. Company Overview
8.17.2. Financial Performance
8.17.3. Product Benchmarking
8.17.4. Strategic Initiatives
8.18. The Han
8.18.1. Company Overview
8.18.2. Financial Performance
8.18.3. Product Benchmarking
8.18.4. Strategic Initiatives
8.19. C1 Soju
8.19.1. Company Overview
8.19.2. Financial Performance
8.19.3. Product Benchmarking
8.19.4. Strategic Initiatives
List of Tables
1. Soju market - Key market driver analysis
2. Soju market - Key market restraint analysis
3. Distilled soju market estimates and forecast, 2018 - 2030 (USD Million)
4. Diluted soju market estimates and forecast, 2018 - 2030 (USD Million)
5. Soju market estimates and forecast, in bottles, 2018 - 2030 (USD Million)
6. Soju market estimates and forecast, in cans, 2018 - 2030 (USD Million)
7. Soju market estimates and forecast, in pouches, 2018 - 2030 (USD Million)
8. Soju market estimates and forecast, through on trade, 2018 - 2030 (USD Million)
9. Soju market estimates and forecast, through off trade, 2018 - 2030 (USD Million)
10. Soju market estimates and forecast, through supermarkets & hypermarkets, 2018 - 2030 (USD Million)
11. Soju market estimates and forecast, through convenience stores, 2018 - 2030 (USD Million)
12. Soju market estimates and forecast, through online, 2018 - 2030 (USD Million)
13. Soju market estimates and forecast, through others, 2018 - 2030 (USD Million)
14. North America soju market estimates and forecast, 2018 - 2030 (USD Million)
15. North America soju market revenue estimates and forecast, by type, 2018 - 2030 (USD Million)
16. North America soju market revenue estimates and forecast, by packaging, 2018 - 2030 (USD Million)
17. North America soju market revenue estimates and forecast, by distribution channel, 2018 - 2030 (USD Million)
18. U.S. macro-economic outlay
19. U.S. soju market estimates and forecast, 2018 - 2030 (USD Million)
20. U.S. soju market revenue estimates and forecast, by type, 2018 - 2030 (USD Million)
21. U.S. soju market revenue estimates and forecast, by packaging, 2018 - 2030 (USD Million)
22. U.S. soju market revenue estimates and forecast, by distribution channel, 2018 - 2030 (USD Million)
23. Canada macro-economic outlay
24. Canada soju market estimates and forecast, 2018 - 2030 (USD Million)
25. Canada soju market revenue estimates and forecast, by type, 2018 - 2030 (USD Million)
26. Canada soju market revenue estimates and forecast, by packaging, 2018 - 2030 (USD Million)
27. Canada soju market revenue estimates and forecast, by distribution channel, 2018 - 2030 (USD Million)
28. Mexico macro-economic outlay
29. Mexico soju market estimates and forecast, 2018 - 2030 (USD Million)
30. Mexico soju market revenue estimates and forecast, by type, 2018 - 2030 (USD Million)
31. Mexico soju market revenue estimates and forecast, by packaging, 2018 - 2030 (USD Million)
32. Mexico soju market revenue estimates and forecast, by distribution channel, 2018 - 2030 (USD Million)
33. Europe soju market estimates and forecast, 2018 - 2030 (USD Million)
34. Europe soju market revenue estimates and forecast, by type, 2018 - 2030 (USD Million)
35. Europe soju market revenue estimates and forecast, by packaging, 2018 - 2030 (USD Million)
36. Europe soju market revenue estimates and forecast, by distribution channel, 2018 - 2030 (USD Million)
37. Germany macro-economic outlay
38. Germany soju market estimates and forecast, 2018 - 2030 (USD Million)
39. Germany soju market revenue estimates and forecast, by type, 2018 - 2030 (USD Million)
40. Germany soju market revenue estimates and forecast, by packaging, 2018 - 2030 (USD Million)
41. Germany soju market revenue estimates and forecast, by distribution channel, 2018 - 2030 (USD Million)
42. UK macro-economic outlay
43. UK soju market estimates and forecast, 2018 - 2030 (USD Million)
44. UK soju market revenue estimates and forecast, by type, 2018 - 2030 (USD Million)
45. UK soju market revenue estimates and forecast, by packaging, 2018 - 2030 (USD Million)
46. UK soju market revenue estimates and forecast, by distribution channel, 2018 - 2030 (USD Million)
47. Spain macro-economic outlay
48. Spain soju market estimates and forecast, 2018 - 2030 (USD Million)
49. Spain soju market revenue estimates and forecast, by type, 2018 - 2030 (USD Million)
50. Spain soju market revenue estimates and forecast, by packaging, 2018 - 2030 (USD Million)
51. Spain soju market revenue estimates and forecast, by distribution channel, 2018 - 2030 (USD Million)
52. Italy macro-economic outlay
53. Italy soju market estimates and forecast, 2018 - 2030 (USD Million)
54. Italy soju market revenue estimates and forecast, by type, 2018 - 2030 (USD Million)
55. Italy soju market revenue estimates and forecast, by packaging, 2018 - 2030 (USD Million)
56. Italy soju market revenue estimates and forecast, by distribution channel, 2018 - 2030 (USD Million)
57. France macro-economic outlay
58. France soju market estimates and forecast, 2018 - 2030 (USD Million)
59. France soju market revenue estimates and forecast, by type, 2018 - 2030 (USD Million)
60. France soju market revenue estimates and forecast, by packaging, 2018 - 2030 (USD Million)
61. France soju market revenue estimates and forecast, by distribution channel, 2018 - 2030 (USD Million)
62. Asia Pacific soju market estimates and forecast, 2018 - 2030 (USD Million)
63. Asia Pacific soju market revenue estimates and forecast, by type, 2018 - 2030 (USD Million)
64. Asia Pacific soju market revenue estimates and forecast, by packaging, 2018 - 2030 (USD Million)
65. Asia Pacific soju market revenue estimates and forecast, by distribution channel, 2018 - 2030 (USD Million)
66. China macro-economic outlay
67. China soju market estimates and forecast, 2018 - 2030 (USD Million)
68. China soju market revenue estimates and forecast, by type, 2018 - 2030 (USD Million)
69. China soju market revenue estimates and forecast, by packaging, 2018 - 2030 (USD Million)
70. China soju market revenue estimates and forecast, by distribution channel, 2018 - 2030 (USD Million)
71. India macro-economic outlay
72. India soju market estimates and forecast, 2018 - 2030 (USD Million)
73. India soju market revenue estimates and forecast, by type, 2018 - 2030 (USD Million)
74. India soju market revenue estimates and forecast, by packaging, 2018 - 2030 (USD Million)
75. India soju market revenue estimates and forecast, by distribution channel, 2018 - 2030 (USD Million)
76. Japan macro-economic outlay
77. Japan soju market estimates and forecast, 2018 - 2030 (USD Million)
78. Japan soju market revenue estimates and forecast, by type, 2018 - 2030 (USD Million)
79. Japan soju market revenue estimates and forecast, by packaging, 2018 - 2030 (USD Million)
80. Japan soju market revenue estimates and forecast, by distribution channel, 2018 - 2030 (USD Million)
81. South Korea macro-economic outlay
82. South Korea soju market estimates and forecast, 2018 - 2030 (USD Million)
83. South Korea soju market revenue estimates and forecast, by type, 2018 - 2030 (USD Million)
84. South Korea soju market revenue estimates and forecast, by packaging, 2018 - 2030 (USD Million)
85. South Korea soju market revenue estimates and forecast, by distribution channel, 2018 - 2030 (USD Million)
86. Australia macro-economic outlay
87. Australia soju market estimates and forecast, 2018 - 2030 (USD Million)
88. Australia soju market revenue estimates and forecast, by type, 2018 - 2030 (USD Million)
89. Australia soju market revenue estimates and forecast, by packaging, 2018 - 2030 (USD Million)
90. Australia soju market revenue estimates and forecast, by distribution channel, 2018 - 2030 (USD Million)
91. Central & South America soju market estimates and forecast, 2018 - 2030 (USD Million)
92. Central & South America soju market revenue estimates and forecast, by type, 2018 - 2030 (USD Million)
93. Central & South America soju market revenue estimates and forecast, by packaging, 2018 - 2030 (USD Million)
94. Central & South America soju market revenue estimates and forecast, by distribution channel, 2018 - 2030 (USD Million)
95. Brazil macro-economic outlay
96. Brazil soju market estimates and forecast, 2018 - 2030 (USD Million)
97. Brazil soju market revenue estimates and forecast, by type, 2018 - 2030 (USD Million)
98. Brazil soju market revenue estimates and forecast, by packaging, 2018 - 2030 (USD Million)
99. Brazil soju market revenue estimates and forecast, by distribution channel, 2018 - 2030 (USD Million)
100. Middle East & Africa soju market estimates and forecast, 2018 - 2030 (USD Million)
101. Middle East & Africa soju market revenue estimates and forecast, by type, 2018 - 2030 (USD Million)
102. Middle East & Africa soju market revenue estimates and forecast, by packaging, 2018 - 2030 (USD Million)
103. Middle East & Africa soju market revenue estimates and forecast, by distribution channel, 2018 - 2030 (USD Million)
104. UAE macro-economic outlay
105. UAE soju market estimates and forecast, 2018 - 2030 (USD Million)
106. UAE soju market revenue estimates and forecast, by type, 2018 - 2030 (USD Million)
107. UAE soju market revenue estimates and forecast, by packaging, 2018 - 2030 (USD Million)
108. UAE soju market revenue estimates and forecast, by distribution channel, 2018 - 2030 (USD Million)
List of Figures
1. Soju market snapshot
2. Soju market segmentation & scope
3. Soju market penetration & growth prospect mapping
4. Soju market value chain analysis
5. Soju market dynamics
6. Soju market Porter's Five Forces analysis
7. Soju market: Type movement analysis, 2023 & 2030 (%)
8. Distilled soju market estimates and forecast, 2018 - 2030 (USD Million)
9. Diluted soju market estimates and forecast, 2018 - 2030 (USD Million)
10. Soju market: Packaging movement analysis, 2023 & 2030 (%)
11. Soju market estimates and forecast, in bottles, 2018 - 2030 (USD Million)
12. Soju market estimates and forecast, in cans, 2018 - 2030 (USD Million)
13. Soju market estimates and forecast, in pouches, 2018 - 2030 (USD Million)
14. Soju market: Distribution channel movement analysis, 2023 & 2030 (%)
15. Soju market estimates and forecast, through on trade, 2018 - 2030 (USD Million)
16. Soju market estimates and forecast, through off trade, 2018 - 2030 (USD Million)
17. Soju market estimates and forecast, through supermarkets & hypermarkets, 2018 - 2030 (USD Million)
18. Soju market estimates and forecast, through convenience stores, 2018 - 2030 (USD Million)
19. Soju market estimates and forecast, through online, 2018 - 2030 (USD Million)
20. Soju market estimates and forecast, through others, 2018 - 2030 (USD Million)
21. Soju market: Regional movement analysis, 2023 & 2030 (%)
22. North America soju market estimates and forecast, 2018 - 2030 (USD Million)
23. U.S. soju market estimates and forecast, 2018 - 2030 (USD Million)
24. Canada soju market estimates and forecast, 2018 - 2030 (USD Million)
25. Mexico soju market estimates and forecast, 2018 - 2030 (USD Million)
26. Europe soju market estimates and forecast, 2018 - 2030 (USD Million)
27. Germany soju market estimates and forecast, 2018 - 2030 (USD Million)
28. UK soju market estimates and forecast, 2018 - 2030 (USD Million)
29. Spain soju market estimates and forecast, 2018 - 2030 (USD Million)
30. Italy soju market estimates and forecast, 2018 - 2030 (USD Million)
31. France soju market estimates and forecast, 2018 - 2030 (USD Million)
32. Asia Pacific soju market estimates and forecast, 2018 - 2030 (USD Million)
33. China soju market estimates and forecast, 2018 - 2030 (USD Million)
34. India soju market estimates and forecast, 2018 - 2030 (USD Million)
35. Japan soju market estimates and forecast, 2018 - 2030 (USD Million)
36. South Korea soju market estimates and forecast, 2018 - 2030 (USD Million)
37. Australia & New Zealand soju market estimates and forecast, 2018 - 2030 (USD Million)
38. Central & South America soju market estimates and forecast, 2018 - 2030 (USD Million)
39. Brazil soju market estimates and forecast, 2018 - 2030 (USD Million)
40. Middle East & Africa soju market estimates and forecast, 2018 - 2030 (USD Million)
41. UAE soju market estimates and forecast, 2018 - 2030 (USD Million)

Companies Mentioned

  • 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

Methodology

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Table Information

Report AttributeDetails
No. of Pages100
PublishedAugust 2024
Forecast Period2023 - 2030
Estimated Market Value ( USD ) in 2023 $ 5.3 Billion
Forecasted Market Value ( USD ) by 2030 $ 7.59 Billion
Compound Annual Growth Rate5.3%
Regions CoveredGlobal
No. of Companies Mentioned10

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