Pro
Food & Beverage
Australia & New Zealand Dried Fruits MARKET By Application
| Label | USD Million |
|---|---|
| 2018 | 56.3028650516643 USD Million |
| 2019 | 56.2889133586711 USD Million |
| 2020 | 49.124012394068 USD Million |
| 2021 | 51.704428886913 USD Million |
| 2022 | 51.5613612896927 USD Million |
| 2023 | 54.9115292190253 USD Million |
| 2024 | 56.4849581698283 USD Million |
| 2025 | 58.9116592150989 USD Million |
| 2026 | 61.7734199735798 USD Million |
| 2027 | 64.4434647745905 USD Million |
| 2028 | 67.5384692071877 USD Million |
| 2029 | 70.8974324696579 USD Million |
| 2030 | 73.919999184015 USD Million |
| 2031 | 77.915896168159 USD Million |
| 2032 | 81.8096394190333 USD Million |
Data Source: Wantstats Repository
Market Dynamics
As one of the top 15 countries in alcoholic beverage consumption, South Korea has a strong demand for alcohol. Demand is especially strong for soju, but wine, beer, and makgeolli are also popular options. According to the Ministry of Economy and Finance’s (MOFE) 2020 regional reports, the total alcoholic beverage consumption in South Korea was valued at 3.5 trillion KRW, a 3.6% increase compared to 2019. South Korea’s traditional soju boasting the highest market share of 53.7%, followed by beer, wine, and makgeolli. Demand for alcoholic beverages has been stable for years in South Korea, and the outlook for the future looks very positive. In the years 2018 and 2020, the alcoholic beverage market grew by approximately 5.7% and 3.6%, respectively. This growth rate is expected to continue in the future and is expected to be even higher in the coming years. The country is also experiencing population growth, which is likely to contribute to the market’s growth in the future. The economic growth in South Korea is also expected to increase demand for alcoholic beverages in the future.
Over the last five years, growth in real per capita income in the country has averaged around 4.3%, and consumer confidence is expected to remain high. This will likely lead to more discretionary spending, which will include more purchases of alcoholic beverages. In the next 15 years, the outlook for the South Korean alcoholic beverage market looks very positive. The country is expected to experience economic growth, population growth, and continue to be big consumers of alcoholic beverages. As a result, demand for alcohol is expected to continue to grow and the market overall will be highly lucrative. Wine, beer, and makgeolli are all expected to experience growth over the coming years, although soju is expected to remain the leader in the industry.
Research Methodology
Figures reflect Wantstats’ original market research and forecasting models, compiled as part of the Wantstats research archive and published in 2023.
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Manager, JavolVision
Thanks, I am so happy that we worked together. Maybe we still can work together in the future.
Joseph Aguayo
Sales Operations & Pricing Manager, Intel
Thanks. It's been a pleasure working with you, please use me as reference with any other Intel employees.
Bong Lau
Sales Leader, Bamberg
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Peter Groot Koerkamp
Account and Business Manager, EFS-Holland BV
Thanks for sending the report it gives us a good global view of the Betaïne market.
Younghwan Choi
Senior Retail Manager, LG Chem
We found the report very insightful! we found your research firm very helpful. I'm sending this email to secure our future business.
Mark Irwin
Management Consultant, Level 21
I am very pleased with how market segments have been defined in a relevant way for my purposes (such as "Portable Freezers & refrigerators" and "last-mile"). In general the report is well structured. Thanks very much for your efforts.
Rob Kooiker
Group Product Manager HVAC & Fire Protection GMA, Rockwool
I have been reading the first document or the study, the Global HVAC and FP market report 2021 till 2026. Must say, good info! I have not gone in depth at all parts, but got a good indication of the data inside!
Jason Lee
R&D Director, Seojin
Thanks for your great support. Appreciate it. Well received report. It helps us to understand market well. We're planning other area of survey in the future, let's keep in touch.
Akif Moroglu
Strategy & Business Development Director, Dogan Holding
We got the report in time, we really thank you for your support in this process. I also thank to all of your team as they did a great job.