The Global Soju Market Outlook is Anticipated to Exceed USD 8.68 Billion by 2033, Growing at a CAGR of 5.24% from 2023 to 2033.
Soju, a clear and colorless beverage, originates from Korea and is a popular distilled rice liquor, often compared to vodka due to its potency and smooth flavor. With an alcohol content of 20–24% by volume, soju has a clean and mild taste, making it a perfect complement to a wide variety of Korean dishes. It is traditionally enjoyed straight, either with food or as part of cocktails. The rising popularity of soju can be attributed to its versatile flavor profile, as it can be consumed neat, over ice, or mixed into different cocktails to suit various preferences. Its relatively lower alcohol content and fewer calories compared to other spirits also make it appealing to health-conscious consumers seeking lighter options. Additionally, economic factors continue to drive the growing demand for soju in both domestic and international markets.
This study gives a detailed analysis of drivers, restrains, opportunities and challenges limiting the market expansion of Soju Market. The survey included a diverse set of players, including a balance of leading and growing manufacturers for business profiling, such as;
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 Bohae Chungbuk Hallasan Mackiss Others
Our expert team is consistently working on updated data and information on the key player’s related business processes that value the market for future strategies and predictions
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Market Segmentation:
By Type
- Distilled
- Diluted
By Packaging
- Bottles
- Cans
- Pouches
Covered in this Report:
1. Go-to-market Strategy.
2. Neutral perspective on the market performance.
3. Development trends, competitive landscape analysis, supply side analysis, demand side analysis, year-on-year growth, competitive benchmarking, vendor identification, QMI quadrant, and other significant analysis, as well as development status.
4. Customized regional/country reports as per request and country level analysis.
5. Potential niche segments and regions exhibiting promising growth covered.
6.Analysis of Market Size (historical and forecast), Total Addressable Market (TAM), Serviceable Available Market (SAM), Serviceable Obtainable Market (SOM), Market Growth, Technological Trends, Market Share, Market Dynamics, Competitive Landscape and Major Players (Innovators, Start-ups, Laggard, and Pioneer).
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Industry Developments:
In July 2024, In honor of its 100th anniversary, the Korean company Hite Jinro, which sells the most spirits worldwide, revealed an ultra-premium rare expression of soju made from Icheon rice that was distilled in 1924. Because of its superior quality, kings have traditionally accepted Icheon rice as a gift.
Regional Analysis for Soju Market:
✫ North America: (U.S., Canada, Mexico)
✫ Europe: (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)
✫ Asia-Pacific: (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)
✫ South America: (Colombia, Brazil, Argentina, Rest of South America)
✫ Middle East Africa: (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
Benefits of the Report:
⏩ A descriptive analysis of demand-supply gap, market size estimation, SWOT analysis, PESTEL Analysis and forecast in the global market.
⏩ Top-down and bottom-up approach for regional analysis
⏩ Porter’s five forces model gives an in-depth analysis of buyers and suppliers, threats of new entrants substitutes and competition amongst the key market players.
⏩ By understanding the value chain analysis, the stakeholders can get a clear and detailed picture of this Market
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Frequently asked questions:
➥ What is the market size of the Soju market?
➥ What is the market growth rate of the Soju market?
➥ What are the Soju market opportunities and threats faced by the vendors in the global Soju Industry?
➥ Which application/end-user or product type may seek incremental growth prospects? What is the market share of each type and application?
➥ What focused approach and constraints are holding the Soju market?
➥ What are the different sales, marketing, and distribution channels in the global industry?
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