Soju Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Product Type (Distilled, Diluted), By Packaging (Bottles, Cans, Pouches), By Distribution Channel (Hypermarkets & Supermarkets, Convenience Stores, Online, Others), By Region & Competition, 2019-2029F

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Summary

Report Description

Forecast Period

2025-2029

Market Size (2023)

USD 5.30 Billion

Market Size (2029)

USD 7.19 Billion

CAGR (2024-2029)

5.2%

Fastest Growing Segment

Diluted

Largest Market

Asia Pacific

Market Overview

The global Soju Market was valued at USD 5.30 billion in 2023 and is expected to reach USD 7.19 billion by 2029 with a CAGR of 5.2% during the forecast period. The rise in global awareness and appreciation for Korean culture, largely propelled by the proliferation of K-dramas and K-pop, has considerably heightened global interest in Korean food and drinks, including soju. This cultural interest has broadened soju's global audience and boosted its worldwide popularity. The Korea Customs Service reports that outbound shipments of soju totaled USD101.4 million in 2023, marking an 8.7 percent increase from the previous year. This figure represents the first time in a decade that soju exports have surpassed USD100 million. Japan emerged as the largest importer of South Korean soju, with purchases exceeding USD30 million, while the United States followed with USD23.6 million in imports.

A significant factor in soju's escalating popularity is its unique flavor profile and versatility. It appeals to diverse tastes as it can be consumed straight, over ice, or used as an ingredient in various cocktails. Additionally, its relatively lower alcohol content and reduced caloric content compared to other spirits make it a favored choice among health-conscious consumers looking for lighter options. Economic factors significantly contribute to the escalating demand for soju. It captures the interest of budget-conscious consumers as it is often more affordable than other spirits such as whiskey or vodka. Furthermore, the beverage’s increasing availability through global distribution channels, online platforms, and the rising number of Korean restaurants and bars worldwide have expanded its market reach. The continuous introduction of innovative flavors by soju manufacturers to cater to evolving consumer preferences, such as fruit-infused varieties and unique combinations like green tea and lychee, further enhances its market appeal. The emergence of premium and craft soju options is another trend attracting consumers willing to pay more for superior quality and distinctive flavor experiences. Aged or artisanal soju varieties are increasingly viewed as refined alternatives to other premium spirits.

Key Market Drivers

Cultural Influence and Global Popularity of Korean Culture

The proliferation of Korean culture, driven by K-dramas and K-pop, has significantly boosted interest in Korean cuisine and beverages. This cultural fascination has introduced soju to a broader audience, enhancing its global appeal. The widespread reach of Korean entertainment serves as a form of soft power, facilitating the global dissemination of Korean products like soju. Consequently, people are increasingly consuming Korean media and seeking authentic Korean dining experiences, of which soju is a vital component. This trend is further reinforced by influencers and social media platforms that highlight Korean lifestyles and consumption habits, making soju an attractive choice among younger demographics.

In 2022, HiteJinro generated approximately USD 1.13 billion in revenue from soju. That year, Jinro achieved a milestone by becoming the first liquor brand to sell over 100 million cases, a significant increase from 65.3 million cases a decade earlier. Jinro's leading position in the market is a result of decades of stringent control over rice production and distribution, which has been crucial in maintaining the high quality of their soju.

The prominent appearance of soju in Korean dramas and music videos has transformed it into a desirable beverage for fans worldwide. This trend is notably strong among diaspora communities and younger generations who are captivated by the allure and cultural narratives embedded in Korean media. Consequently, soju has evolved not just as a beverage but also as a cultural icon, thereby fueling its market expansion.

Versatility and Consumer Preferences

Soju's distinct flavor profile and versatility also play a critical role in its increasing popularity. It can be consumed straight, on the rocks, or used in a plethora of cocktails, catering to a wide range of preferences. Its lower alcohol content and fewer calories compared to other spirits make it an appealing option for health-conscious consumers seeking lighter alternatives. This versatility allows it to be included in various drinking occasions, from casual gatherings to formal celebrations, thus broadening its consumer base.

For example, soju's subtle flavor makes it an excellent mixer for cocktails, promoting its integration into different drinking cultures outside of Korea. The introduction of innovative flavors such as peach, grape, and citrus also attracts younger consumers who are continually seeking new taste experiences. This adaptability not only strengthens soju's market presence but also ensures continuous consumer engagement by keeping the product offerings fresh and exciting.


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Key Market Challenges

Increased Competition from Other Spirits

Economic considerations further stimulate soju's demand as it appeals to budget-conscious consumers and is generally more affordable than spirits like whiskey or vodka. However, this affordability also places soju in direct competition with other budget-friendly alcoholic beverages. Brands need to maintain high quality while keeping prices competitive to sustain their market share. The beverage’s growing availability through international distribution channels, online platforms, and the increasing prevalence of Korean restaurants and bars worldwide has expanded its reach, but it also means that global markets are becoming more saturated and competitive.

Regulatory Hurdles and Market Restrictions

The global soju market encounters significant regulatory hurdles and market restrictions, which can hinder its growth. Different countries have various regulations concerning the import, distribution, and sale of alcoholic beverages. These regulatory frameworks can present challenges for soju manufacturers aiming to expand their international presence. For instance, stringent labeling requirements, taxation policies, and restrictions on alcohol advertising can complicate market entry and expansion efforts.

Soju manufacturers must navigate a complex array of regulations to ensure compliance in different markets. Failure to adhere to these regulations can result in legal consequences, product recalls, and harm to the brand's reputation. Therefore, understanding and overcoming regulatory obstacles is an essential challenge that soju manufacturers must address to achieve sustainable growth in the global market.

Key Market Trends

Innovation in Flavor and Premiumization

Soju manufacturers are continually introducing a diverse range of innovative flavors to meet changing consumer preferences. Fruit-infused varieties such as peach, grape, and citrus, along with unique combinations like green tea and lychee, are gaining popularity, particularly among younger consumers. This flavor diversification makes soju more accessible and appealing to a broader audience. Moreover, the rise of premium and craft soju offerings attracts consumers willing to pay more for superior quality and unique flavor experiences. Aged or artisanal soju varieties are perceived as sophisticated alternatives to spirits like vodka or whiskey, thereby driving the trend of premiumization in the soju market.

Increasing Popularity of Premium Soju

The soju market has seen a notable shift towards premium products, reflecting broader consumer trends favoring higher-quality and artisanal beverages. Traditionally, soju was perceived as a low-cost, mass-produced spirit, but there has been a growing demand for premium versions that emphasize superior ingredients, refined production methods, and unique flavors. This shift is partly driven by a younger, more affluent consumer base that values quality and is willing to pay a premium for it. Premium soju often features higher alcohol content, distinctive ingredients such as fruit infusions or rare grains, and elegant packaging. This trend is also influenced by the rising popularity of craft spirits globally, as consumers seek out unique and refined drinking experiences. As a result, premium soju is increasingly making its mark in both domestic and international markets, with brands leveraging sophisticated marketing strategies to appeal to discerning consumers.

Segmental Insights

Product Type Insights

Distilled soju represented a largest revenue share in 2023. The strong social drinking culture associated with soju, especially in South Korea, is being embraced in other countries. This trend is particularly evident among Korean expatriates and individuals interested in Korean cuisine and social customs. Furthermore, global mixologists recognize soju's versatility in cocktails, bolstering its presence in bars and restaurants.

Diluted soju is projected to grow at fastest CAGR during the forecasted period. Diluted soju typically has a lower alcohol content compared to traditional distilled soju, making it more appealing to consumers who prefer lighter alcoholic beverages. This trend caters to those who wish to enjoy the taste of soju without the higher alcohol levels, making it accessible to a broader audience. The trend of offering diluted soju in various flavors caters to diverse taste preferences. Consumers are drawn to flavored diluted soju for its refreshing and less intense taste, suitable for various social settings or casual drinking occasions.

Distribution Channel Insights

Convenience stores have become the dominant distribution channel in the Soju market due to their strategic advantages in accessibility and consumer behavior. This growth is driven by the increasing preference for quick and easy access to beverages, particularly among younger consumers and busy professionals. Convenience stores offer extended hours and a more extensive network of locations compared to traditional liquor stores or supermarkets, making Soju readily available at various times and locations. Additionally, the compact nature of convenience stores aligns well with the packaging of Soju, which often comes in smaller, more portable bottles. This format suits the grab-and-go lifestyle of modern consumers. The trend is also supported by the rise of on-the-go consumption patterns and the convenience of picking up Soju alongside other daily necessities.


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Regional Insights

The Asia Pacific region is the dominant player in the global Soju market, largely due to its cultural, historical, and economic factors. Soju, a traditional Korean spirit, is deeply ingrained in the social and culinary fabric of South Korea, which is the largest producer and consumer of this spirit. The widespread consumption of Soju in South Korea has a ripple effect throughout the region, influencing neighboring countries with similar drinking cultures and expanding the market further. The region's dominance is also attributed to its robust distribution networks and the growing middle-class population with increasing disposable incomes. The rising popularity of Soju in countries like China and Japan is contributing to its expanding market presence. Additionally, the Asia Pacific region's strong manufacturing capabilities and innovation in packaging are making Soju more accessible and appealing to both domestic and international consumers. This combination of cultural relevance, economic growth, and strategic market positioning ensures that Asia Pacific remains at the forefront of the Soju industry.

Recent Developments

  • In March 2024, HiteJinro has introduced a new soju variant named Jinro Gold, featuring an alcohol content of 15.5 percent. This zero-sugar soju is made entirely from rice distillate, offering a smooth and mellow flavor. Jinro Gold will be available in 360ml bottles and can be purchased through a range of dining establishments and supermarkets across the country.
  • In December 2023, Spirit of Gallo expanded its spirits portfolio by adding soju through a partnership with LOTTE Chilsung Beverage Co., Ltd. This collaboration will introduce three soju brands Soonhari, Chum Churum, and Saero into the U.S. market starting January 2024. Soju, a traditional Korean spirit, has gained popularity in the U.S., particularly among multicultural consumers and Gen Z, due to its lower alcohol content and versatility.
  • In 2024, South Korean soju producer Hite Jinro has revealed its plan to expand its distilled soju production facilities. This expansion is driven by the burgeoning premium soju market, now nearing USD 150 million, which has been buoyed by the increasing popularity of “home drinking” and “solo drinking” that emerged during the Covid-19 pandemic. The new facility will feature the largest aging cellar for distilled soju in the country, accommodating over 5,000 wooden barrels, each with a capacity of 200 liters of distilled soju base.

Key Market Players

  • Hwayo
  • The Soju Company
  • Sool Soju
  • Tokki Soju
  • Progressive Beverages, Inc.
  • Lotte Chilsung Beverage Co., Ltd.
  • HiteJinro Co., Ltd.
  • C1 Soju

By Product Type

By Packaging

By Distribution Channel

By Region
  • Distilled
  • Diluted
  • Bottles
  • Cans
  • Pouches
  • Hypermarkets & Supermarkets
  • Convenience Stores
  • Online
  • Others
  • North America
  • Europe
  • Asia Pacific
  • South America
  • Middle East & Africa

Report Scope:

In this report, the global Soju Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  •  Soju Market, By Product Type:

o   Distilled

o   Diluted         

  •        Soju Market, By Packaging:

o   Bottles

o   Cans

o   Pouches

  •         Soju Market, By Distribution Channel:

o   Hypermarkets & Supermarkets

o   Convenience Stores

o   Online

o   Others

  •          Soju Market, By Region:

o   North America

§  United States

§  Canada

§  Mexico

o   Europe

§  France

§  Germany

§  Spain

§  Italy

§  United Kingdom

o   Asia-Pacific

§  China

§  Japan

§  India

§  Vietnam

§  South Korea

o   Middle East & Africa

§  South Africa

§  Saudi Arabia

§  UAE

§  Turkey

§  Kuwait

§  Egypt

o   South America

§  Brazil

§  Argentina

§  Colombia

Competitive Landscape

Company Profiles: Detailed analysis of the major companies presents in the global Soju Market.

Available Customizations:

Global Soju Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

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

Global Soju Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Introduction

1.1.  Product Overview

1.2.  Key Highlights of the Report

1.3.  Market Coverage

1.4.  Market Segments Covered

1.5.  Research Tenure Considered

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary      

3.1.  Market Overview

3.2.  Market Forecast

3.3.  Key Regions

3.4.  Key Segments

4.    Voice of Customer

4.1.  Factors Influencing Purchase Decision

4.2.  Sources of Information

5.    Global Soju Market Outlook

5.1.  Market Size & Forecast

5.1.1.    By Value

5.2.  Market Share & Forecast  

5.2.1.    By Product Type Market Share Analysis (Distilled, Diluted)

5.2.2.    By Packaging Market Share Analysis (Bottles, Cans, Pouches)

5.2.3.    By Distribution Channel Market Share Analysis (Hypermarkets & Supermarkets, Convenience Stores, Online, Others)

5.2.4.    By Regional Market Share Analysis

5.2.4.1.        North America Market Share Analysis

5.2.4.2.        Europe Market Share Analysis

5.2.4.3.        Asia-Pacific Market Share Analysis

5.2.4.4.        Middle East & Africa Market Share Analysis

5.2.4.5.        South America Market Share Analysis

5.2.5.    By Top 5 Companies Market Share Analysis, Others (2023)

5.3.  Global Soju Market Mapping & Opportunity Assessment

5.3.1.    By Product Type Market Mapping & Opportunity Assessment

5.3.2.    By Packaging Market Mapping & Opportunity Assessment

5.3.3.    By Distribution Channel Market Mapping & Opportunity Assessment

5.3.4.    By Regional Market Mapping & Opportunity Assessment

6.    North America Soju Market Outlook

6.1.  Market Size & Forecast

6.1.1.    By Value

6.2.  Market Share & Forecast

6.2.1.    By Product Type Market Share Analysis

6.2.2.    By Packaging Market Share Analysis

6.2.3.    By Distribution Channel Market Share Analysis

6.2.4.    By Country Market Share Analysis

6.2.4.1.        United States Soju Market Outlook

6.2.4.1.1.           Market Size & Forecast

6.2.4.1.1.1.               By Value

6.2.4.1.2.           Market Share & Forecast

6.2.4.1.2.1.               By Product Type Market Share Analysis

6.2.4.1.2.2.               By Packaging Market Share Analysis

6.2.4.1.2.3.               By Distribution Channel Market Share Analysis

6.2.4.2.        Canada Soju Market Outlook

6.2.4.2.1.           Market Size & Forecast

6.2.4.2.1.1.               By Value

6.2.4.2.2.           Market Share & Forecast

6.2.4.2.2.1.               By Product Type Market Share Analysis

6.2.4.2.2.2.               By Packaging Market Share Analysis

6.2.4.2.2.3.               By Distribution Channel Market Share Analysis

6.2.4.3.        Mexico Soju Market Outlook

6.2.4.3.1.           Market Size & Forecast

6.2.4.3.1.1.               By Value

6.2.4.3.2.           Market Share & Forecast

6.2.4.3.2.1.               By Product Type Market Share Analysis

6.2.4.3.2.2.               By Packaging Market Share Analysis

6.2.4.3.2.3.               By Distribution Channel Market Share Analysis

7.    Europe Soju Market Outlook

7.1.  Market Size & Forecast       

7.1.1.    By Value

7.2.  Market Share & Forecast

7.2.1.    By Product Type Market Share Analysis

7.2.2.    By Packaging Market Share Analysis

7.2.3.    By Distribution Channel Market Share Analysis

7.2.4.    By Country Market Share Analysis

7.2.4.1.        France Soju Market Outlook

7.2.4.1.1.           Market Size & Forecast

7.2.4.1.1.1.               By Value

7.2.4.1.2.           Market Share & Forecast

7.2.4.1.2.1.               By Product Type Market Share Analysis

7.2.4.1.2.2.               By Packaging Market Share Analysis

7.2.4.1.2.3.               By Distribution Channel Market Share Analysis

7.2.4.2.        Germany Soju Market Outlook

7.2.4.2.1.           Market Size & Forecast

7.2.4.2.1.1.               By Value

7.2.4.2.2.           Market Share & Forecast

7.2.4.2.2.1.               By Product Type Market Share Analysis

7.2.4.2.2.2.               By Packaging Market Share Analysis

7.2.4.2.2.3.               By Distribution Channel Market Share Analysis

7.2.4.3.        Spain Soju Market Outlook

7.2.4.3.1.           Market Size & Forecast

7.2.4.3.1.1.               By Value

7.2.4.3.2.           Market Share & Forecast

7.2.4.3.2.1.               By Product Type Market Share Analysis

7.2.4.3.2.2.               By Packaging Market Share Analysis

7.2.4.3.2.3.               By Distribution Channel Market Share Analysis

7.2.4.4.        Italy Soju Market Outlook

7.2.4.4.1.           Market Size & Forecast

7.2.4.4.1.1.               By Value

7.2.4.4.2.           Market Share & Forecast

7.2.4.4.2.1.               By Product Type Market Share Analysis

7.2.4.4.2.2.               By Packaging Market Share Analysis

7.2.4.4.2.3.               By Distribution Channel Market Share Analysis

7.2.4.5.        United Kingdom Soju Market Outlook

7.2.4.5.1.           Market Size & Forecast

7.2.4.5.1.1.               By Value

7.2.4.5.2.           Market Share & Forecast

7.2.4.5.2.1.               By Product Type Market Share Analysis

7.2.4.5.2.2.               By Packaging Market Share Analysis

7.2.4.5.2.3.               By Distribution Channel Market Share Analysis

8.    Asia-Pacific Soju Market Outlook

8.1.  Market Size & Forecast       

8.1.1.    By Value

8.2.  Market Share & Forecast

8.2.1.    By Product Type Market Share Analysis

8.2.2.    By Packaging Market Share Analysis

8.2.3.    By Distribution Channel Market Share Analysis

8.2.4.    By Country Market Share Analysis

8.2.4.1.        China Soju Market Outlook

8.2.4.1.1.           Market Size & Forecast

8.2.4.1.1.1.               By Value

8.2.4.1.2.           Market Share & Forecast

8.2.4.1.2.1.               By Product Type Market Share Analysis

8.2.4.1.2.2.               By Packaging Market Share Analysis

8.2.4.1.2.3.               By Distribution Channel Market Share Analysis

8.2.4.2.        Japan Soju Market Outlook

8.2.4.2.1.           Market Size & Forecast

8.2.4.2.1.1.               By Value

8.2.4.2.2.           Market Share & Forecast

8.2.4.2.2.1.               By Product Type Market Share Analysis

8.2.4.2.2.2.               By Packaging Market Share Analysis

8.2.4.2.2.3.               By Distribution Channel Market Share Analysis

8.2.4.3.        India Soju Market Outlook

8.2.4.3.1.           Market Size & Forecast

8.2.4.3.1.1.               By Value

8.2.4.3.2.           Market Share & Forecast

8.2.4.3.2.1.               By Product Type Market Share Analysis

8.2.4.3.2.2.               By Packaging Market Share Analysis

8.2.4.3.2.3.               By Distribution Channel Market Share Analysis

8.2.4.4.        Vietnam Soju Market Outlook

8.2.4.4.1.           Market Size & Forecast

8.2.4.4.1.1.               By Value

8.2.4.4.2.           Market Share & Forecast

8.2.4.4.2.1.               By Product Type Market Share Analysis

8.2.4.4.2.2.               By Packaging Market Share Analysis

8.2.4.4.2.3.               By Distribution Channel Market Share Analysis

8.2.4.5.        South Korea Soju Market Outlook

8.2.4.5.1.           Market Size & Forecast

8.2.4.5.1.1.               By Value

8.2.4.5.2.           Market Share & Forecast

8.2.4.5.2.1.               By Product Type Market Share Analysis

8.2.4.5.2.2.               By Packaging Market Share Analysis

8.2.4.5.2.3.               By Distribution Channel Market Share Analysis

9.    Middle East & Africa Soju Market Outlook

9.1.  Market Size & Forecast       

9.1.1.    By Value

9.2.  Market Share & Forecast

9.2.1.    By Product Type Market Share Analysis

9.2.2.    By Packaging Market Share Analysis

9.2.3.    By Distribution Channel Market Share Analysis

9.2.4.    By Country Market Share Analysis

9.2.4.1.        South Africa Soju Market Outlook

9.2.4.1.1.           Market Size & Forecast

9.2.4.1.1.1.               By Value

9.2.4.1.2.           Market Share & Forecast

9.2.4.1.2.1.               By Product Type Market Share Analysis

9.2.4.1.2.2.               By Packaging Market Share Analysis

9.2.4.1.2.3.               By Distribution Channel Market Share Analysis

9.2.4.2.        Saudi Arabia Soju Market Outlook

9.2.4.2.1.           Market Size & Forecast

9.2.4.2.1.1.               By Value

9.2.4.2.2.           Market Share & Forecast

9.2.4.2.2.1.               By Product Type Market Share Analysis

9.2.4.2.2.2.               By Packaging Market Share Analysis

9.2.4.2.2.3.               By Distribution Channel Market Share Analysis

9.2.4.3.        UAE Soju Market Outlook

9.2.4.3.1.           Market Size & Forecast

9.2.4.3.1.1.               By Value

9.2.4.3.2.           Market Share & Forecast

9.2.4.3.2.1.               By Product Type Market Share Analysis

9.2.4.3.2.2.               By Packaging Market Share Analysis

9.2.4.3.2.3.               By Distribution Channel Market Share Analysis

9.2.4.4.        Turkey Soju Market Outlook

9.2.4.4.1.           Market Size & Forecast

9.2.4.4.1.1.               By Value

9.2.4.4.2.           Market Share & Forecast

9.2.4.4.2.1.               By Product Type Market Share Analysis

9.2.4.4.2.2.               By Packaging Market Share Analysis

9.2.4.4.2.3.               By Distribution Channel Market Share Analysis

9.2.4.5.        Kuwait Soju Market Outlook

9.2.4.5.1.           Market Size & Forecast

9.2.4.5.1.1.               By Value

9.2.4.5.2.           Market Share & Forecast

9.2.4.5.2.1.               By Product Type Market Share Analysis

9.2.4.5.2.2.               By Packaging Market Share Analysis

9.2.4.5.2.3.               By Distribution Channel Market Share Analysis

9.2.4.6.        Egypt Soju Market Outlook

9.2.4.6.1.           Market Size & Forecast

9.2.4.6.1.1.               By Value

9.2.4.6.2.           Market Share & Forecast

9.2.4.6.2.1.               By Product Type Market Share Analysis

9.2.4.6.2.2.               By Packaging Market Share Analysis

9.2.4.6.2.3.               By Distribution Channel Market Share Analysis

10. South America Soju Market Outlook

10.1.             Market Size & Forecast        

10.1.1. By Value

10.2.             Market Share & Forecast

10.2.1. By Product Type Market Share Analysis

10.2.2. By Packaging Market Share Analysis

10.2.3. By Distribution Channel Market Share Analysis

10.2.4. By Country Market Share Analysis

10.2.4.1.     Brazil Soju Market Outlook

10.2.4.1.1.         Market Size & Forecast

10.2.4.1.1.1.            By Value

10.2.4.1.2.         Market Share & Forecast

10.2.4.1.2.1.            By Product Type Market Share Analysis

10.2.4.1.2.2.            By Packaging Market Share Analysis

10.2.4.1.2.3.            By Distribution Channel Market Share Analysis

10.2.4.2.     Argentina Soju Market Outlook

10.2.4.2.1.         Market Size & Forecast

10.2.4.2.1.1.            By Value

10.2.4.2.2.         Market Share & Forecast

10.2.4.2.2.1.            By Product Type Market Share Analysis

10.2.4.2.2.2.            By Packaging Market Share Analysis

10.2.4.2.2.3.            By Distribution Channel Market Share Analysis

10.2.4.3.     Colombia Soju Market Outlook

10.2.4.3.1.         Market Size & Forecast

10.2.4.3.1.1.            By Value

10.2.4.3.2.         Market Share & Forecast

10.2.4.3.2.1.            By Product Type Market Share Analysis

10.2.4.3.2.2.            By Packaging Market Share Analysis

10.2.4.3.2.3.            By Distribution Channel Market Share Analysis

11. Market Dynamics

11.1.             Drivers

11.2.             Challenges

12. Impact of COVID-19 on Global Soju Market

12.1.             Impact Assessment Model   

12.1.1. Key Segments Impacted

12.1.2. Key Regions Impacted

12.1.3. Key Countries Impacted

13. Market Trends & Developments

14. Competitive Landscape

14.1.             Company Profiles

14.1.1. HiteJinro Co., Ltd.

14.1.1.1.     Company Details

14.1.1.2.     Products

14.1.1.3.     Financials (As Per Availability)

14.1.1.4.     Key Market Focus & Geographical Presence

14.1.1.5.     Recent Developments

14.1.1.6.     Key Management Personnel

14.1.2. . Lotte Chilsung Beverage Co., Ltd.

14.1.2.1.     Company Details

14.1.2.2.     Products

14.1.2.3.     Financials (As Per Availability)

14.1.2.4.     Key Market Focus & Geographical Presence

14.1.2.5.     Recent Developments

14.1.2.6.     Key Management Personnel

14.1.3. Hwayo

14.1.3.1.     Company Details

14.1.3.2.     Products

14.1.3.3.     Financials (As Per Availability)

14.1.3.4.     Key Market Focus & Geographical Presence

14.1.3.5.     Recent Developments

14.1.3.6.     Key Management Personnel

14.1.4. The Soju Company

14.1.4.1.     Company Details

14.1.4.2.     Products

14.1.4.3.     Financials (As Per Availability)

14.1.4.4.     Key Market Focus & Geographical Presence

14.1.4.5.     Recent Developments

14.1.4.6.     Key Management Personnel

14.1.5. Sool Soju

14.1.5.1.     Company Details

14.1.5.2.     Products

14.1.5.3.     Financials (As Per Availability)

14.1.5.4.     Key Market Focus & Geographical Presence

14.1.5.5.     Recent Developments

14.1.5.6.     Key Management Personnel

14.1.6. Tokki Soju

14.1.6.1.     Company Details

14.1.6.2.     Products

14.1.6.3.     Financials (As Per Availability)

14.1.6.4.     Key Market Focus & Geographical Presence

14.1.6.5.     Recent Developments

14.1.6.6.     Key Management Personnel

14.1.7. Progressive Beverages, Inc.

14.1.7.1.     Company Details

14.1.7.2.     Products

14.1.7.3.     Financials (As Per Availability)

14.1.7.4.     Key Market Focus & Geographical Presence

14.1.7.5.     Recent Developments

14.1.7.6.     Key Management Personnel

14.1.8. C1 Soju

14.1.8.1.     Company Details

14.1.8.2.     Products

14.1.8.3.     Financials (As Per Availability)

14.1.8.4.     Key Market Focus & Geographical Presence

14.1.8.5.     Recent Developments

14.1.8.6.     Key Management Personnel

15. Strategic Recommendations/Action Plan

15.1.             Key Focus Areas

15.2.             Target Product Type

15.3.             Target Packaging

16.  About Us & Disclaimer

Figures and Tables

Frequently asked questions

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The market size of the global Soju Market was estimated to be USD 5.30 Billion in 2023.

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Bottled soju accounted for largest share 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.

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Key factors that are driving the market growth include rising flavor and product innovation, growing cultural diversity, and globalization.

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The global soju market is expected to grow at a compounded growth rate of 5.2% from 2024 to 2029 to reach USD 7.19 billion by 2030.

Related Reports

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Parvati Sharma

Account Manager BD
Press Release

Soju Market to Grow with a CAGR of 5.2% through 2029

Nov, 2024

The Soju market is driven by rising consumer interest in Korean cuisine, growing popularity of low-alcohol beverages, increasing disposable income, and expanding distribution channels.

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