The demand for mezcal in Korea is projected to generate sales revenue of US$ 11.5 million in 2023. The industry analysis for mezcal in Korea predicts demand to rise at an 18.9% CAGR over the next ten years. By the end of 2033, the mezcal industry in Korea is forecasted to reach a valuation of US$ 64.9 million.
| Attributes | Details |
|---|---|
| Industry Size of Korea in 2023 | US$ 11.5 million |
| Expected Industry Size of Korea by 2033 | US$ 64.9 million |
| Forecasted CAGR between 2023 to 2033 | 18.9% |
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Based on product type, the mezcal joven segment is anticipated to capture about 83.3% of the total sales in Korea in 2023.
| Mezcal Sales in Korea based on Product Type | Mezcal Joven |
|---|---|
| Total Share (2023) | 83.3% |
The nuanced tastes of mezcal joven make it a fascinating ingredient for a wide range of dishes, attracting people who choose to eat and drink more creatively. Therefore, the demand for mezcal joven beyond drinking purposes is expected to maintain the dominance of this segment in the country through the projected years.
Higher demand for mezcal in 100% tequila form is expected to contribute to 54.1% of the total sales in Korea in 2023.
| Mezcal Sales in Korea based on Concentration Type | 100% Tequila |
|---|---|
| Total Share (2023) | 54.1% |
Korea is witnessing an increase in the influence of global cocktail culture, and consumers are now experimenting with a wider variety of sophisticated beverages. Therefore, mezcal with 100% tequila concentration is a popular spirit among those looking to create inventive and distinctive combinations due to its adaptability to various mixology styles.
Currently, the competitive landscape for mezcal producers in Korea is moderate, as a bulk of the product is imported by a few famous alcoholic drink brands. Social media plays a key role in influencing consumer trends in Korea and is expected to encourage more liquor suppliers to include mezcal in their supply chains. Therefore, the competition among mezcal sellers in Korea is expected to intensify gradually during the projected years.
Prominent Suppliers of Mezcal in Korea
Hite Jinro is a Korean beverage corporation that is famous for the production and sales of soju, the traditional alcoholic drink of Korea. In addition, the corporation makes wine, whiskey, beer, and other alcoholic drinks and is a leading importer of mezcal or tequila in the region.
Lotte Asahi Liquor Co., Ltd. was founded in 1999 as a result of a joint venture between Asahi Breweries and the Lotte Group. This South Korean beverage company's main business is the manufacturing and marketing of alcoholic drinks, such as soju, beer, and whiskey. After Hite Jinro, it is the second-biggest brewer in South Korea and has expanded its supply by including imported beverages like scotch and mezcal.
West South Corporation is one of the most well-known alcoholic beverage brands in South Korea, with its headquarters located in Seoul. The firm was established in 1985, and its product line includes different types of alcoholic drinks, including beer, whiskey, and mezcal.
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| Attribute | Details |
|---|---|
| Estimated Industry Size in 2023 | US$ 11.5 million |
| Projected Industry Size by 2033 | US$ 64.9 million |
| Anticipated CAGR between 2023 to 2033 | 18.9% CAGR |
| Historical Analysis of Demand for Mezcal in Korea | 2018 to 2022 |
| Demand Forecast for Mezcal in Korea | 2023 to 2033 |
| Report Coverage | Industry Size, Industry Trends, Analysis of key factors influencing Mezcal in Korea, Insights on Global Players and their Industry Strategy in Korea, Ecosystem Analysis of Local and Korea Providers |
| Key Companies Profiled | SOS Spirits; KGB Spirits; Cactus Spirits; Lotte Asahi Liquor Co., Ltd.; Kherana Spirits; Jinrohsoju; West South Corporation; Hite Jinro; Incheon Distillery; Seoul Spirits; Destilería Los Nahuales; Mezcaleros de Guerrero; Mezcal Derrumbes; Mezcal Ojo de Tigre; Mezcal Real Minero; Mezcal Boca Negra |
| Key Provinces Analyzed while Studying Opportunities in Mezcal in Korea | South Gyengsang, North Jeolla, South Jeolla, Jeju |
The anticipated CAGR for mezcal sales in Korea through 2033 is 18.9%.
Mezcal industry revenue in Korea is likely to reach around US$ 64.9 million by 2033.
Mezcal supplying companies are targeting hospitality and tourism sector to boost sales.
Mezcal joven accounts for 82% revenue share in Korea in 2023.
Adoption of mezcal with 100% tequila currently garners 56% of total sales in Korea.
1. Executive Summary 1.1. Korea Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Product Life Cycle Analysis 3.5. Supply Chain Analysis 3.5.1. Supply Side Participants and their Roles 3.5.1.1. Producers 3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers) 3.5.1.3. Wholesalers and Distributors 3.5.2. Value Added and Value Created at Node in the Supply Chain 3.5.3. List of Raw Material Suppliers 3.5.4. List of Existing and Potential Buyer’s 3.6. Investment Feasibility Matrix 3.7. Value Chain Analysis 3.7.1. Profit Margin Analysis 3.7.2. Wholesalers and Distributors 3.7.3. Retailers 3.8. PESTLE and Porter’s Analysis 3.9. Regulatory Landscape 3.9.1. By Key Regions 3.10. Regional Parent Market Outlook 3.11. Production and Consumption Statistics 3.12. Import and Export Statistics 4. Industry Analysis and Outlook 2018 to 2022 and Forecast, 2023 to 2033 4.1. Historical Market Size Value (US$ Million) & Volume (Liters) Analysis, 2018 to 2022 4.2. Current and Future Market Size Value (US$ Million) & Volume (Liters) Projections, 2023 to 2033 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Product Type 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ Million) & Volume (Liters) Analysis By Product Type, 2018 to 2022 5.3. Current and Future Market Size Value (US$ Million) & Volume (Liters) Analysis and Forecast By Product Type, 2023 to 2033 5.3.1. Joven 5.3.2. Reposado 5.3.3. Anejo 5.4. Y-o-Y Growth Trend Analysis By Product Type, 2018 to 2022 5.5. Absolute $ Opportunity Analysis By Product Type, 2023 to 2033 6. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Concentration 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ Million) & Volume (Liters) Analysis By Concentration, 2018 to 2022 6.3. Current and Future Market Size Value (US$ Million) & Volume (Liters) Analysis and Forecast By Concentration, 2023 to 2033 6.3.1. 100% Tequila 6.3.2. Mixed Tequila 6.4. Y-o-Y Growth Trend Analysis By Concentration, 2018 to 2022 6.5. Absolute $ Opportunity Analysis By Concentration, 2023 to 2033 7. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. Introduction 7.2. Historical Market Size Value (US$ Million) & Volume (Liters) Analysis By Region, 2018 to 2022 7.3. Current Market Size Value (US$ Million) & Volume (Liters) Analysis and Forecast By Region, 2023 to 2033 7.3.1. South Gyeongsang 7.3.2. North Jeolla 7.3.3. South Jeolla 7.3.4. Jeju 7.3.5. Rest of Korea 7.4. Market Attractiveness Analysis By Region 8. South Gyeongsang Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033 8.1. Historical Market Size Value (US$ Million) & Volume (Liters) Trend Analysis By Market Taxonomy, 2018 to 2022 8.2. Market Size Value (US$ Million) & Volume (Liters) Forecast By Market Taxonomy, 2023 to 2033 8.2.1. By Product Type 8.2.2. By Concentration 8.3. Market Attractiveness Analysis 8.3.1. By Product Type 8.3.2. By Concentration 8.4. Key Takeaways 9. North Jeolla Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033 9.1. Historical Market Size Value (US$ Million) & Volume (Liters) Trend Analysis By Market Taxonomy, 2018 to 2022 9.2. Market Size Value (US$ Million) & Volume (Liters) Forecast By Market Taxonomy, 2023 to 2033 9.2.1. By Product Type 9.2.2. By Concentration 9.3. Market Attractiveness Analysis 9.3.1. By Product Type 9.3.2. By Concentration 9.4. Key Takeaways 10. South Jeolla Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033 10.1. Historical Market Size Value (US$ Million) & Volume (Liters) Trend Analysis By Market Taxonomy, 2018 to 2022 10.2. Market Size Value (US$ Million) & Volume (Liters) Forecast By Market Taxonomy, 2023 to 2033 10.2.1. By Product Type 10.2.2. By Concentration 10.3. Market Attractiveness Analysis 10.3.1. By Product Type 10.3.2. By Concentration 10.4. Key Takeaways 11. Jeju Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033 11.1. Historical Market Size Value (US$ Million) & Volume (Liters) Trend Analysis By Market Taxonomy, 2018 to 2022 11.2. Market Size Value (US$ Million) & Volume (Liters) Forecast By Market Taxonomy, 2023 to 2033 11.2.1. By Product Type 11.2.2. By Concentration 11.3. Market Attractiveness Analysis 11.3.1. By Product Type 11.3.2. By Concentration 11.4. Key Takeaways 12. Rest of Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033 12.1. Historical Market Size Value (US$ Million) & Volume (Liters) Trend Analysis By Market Taxonomy, 2018 to 2022 12.2. Market Size Value (US$ Million) & Volume (Liters) Forecast By Market Taxonomy, 2023 to 2033 12.2.1. By Product Type 12.2.2. By Concentration 12.3. Market Attractiveness Analysis 12.3.1. By Product Type 12.3.2. By Concentration 12.4. Key Takeaways 13. Market Structure Analysis 13.1. Competition Dashboard 13.2. Competition Benchmarking 13.3. Market Share Analysis of Top Players 13.3.1. By Regional 13.3.2. By Product Type 13.3.3. By Concentration 14. Competition Analysis 14.1. Competition Deep Dive 14.1.1. es Casa Armando S.A.de. 14.1.1.1. Overview 14.1.1.2. Product Portfolio 14.1.1.3. Profitability by Market Segments 14.1.1.4. Sales Footprint 14.1.1.5. Strategy Overview 14.1.1.5.1. Marketing Strategy 14.1.1.5.2. Product Strategy 14.1.1.5.3. Channel Strategy 14.1.2. El Silencio Holdings INC 14.1.2.1. Overview 14.1.2.2. Product Portfolio 14.1.2.3. Profitability by Market Segments 14.1.2.4. Sales Footprint 14.1.2.5. Strategy Overview 14.1.2.5.1. Marketing Strategy 14.1.2.5.2. Product Strategy 14.1.2.5.3. Channel Strategy 14.1.3. Fidencio 14.1.3.1. Overview 14.1.3.2. Product Portfolio 14.1.3.3. Profitability by Market Segments 14.1.3.4. Sales Footprint 14.1.3.5. Strategy Overview 14.1.3.5.1. Marketing Strategy 14.1.3.5.2. Product Strategy 14.1.3.5.3. Channel Strategy 14.1.4. Desolas 14.1.4.1. Overview 14.1.4.2. Product Portfolio 14.1.4.3. Profitability by Market Segments 14.1.4.4. Sales Footprint 14.1.4.5. Strategy Overview 14.1.4.5.1. Marketing Strategy 14.1.4.5.2. Product Strategy 14.1.4.5.3. Channel Strategy 14.1.5. Drink Moday Inc. 14.1.5.1. Overview 14.1.5.2. Product Portfolio 14.1.5.3. Profitability by Market Segments 14.1.5.4. Sales Footprint 14.1.5.5. Strategy Overview 14.1.5.5.1. Marketing Strategy 14.1.5.5.2. Product Strategy 14.1.5.5.3. Channel Strategy 14.1.6. Familia Camarena Tequila 14.1.6.1. Overview 14.1.6.2. Product Portfolio 14.1.6.3. Profitability by Market Segments 14.1.6.4. Sales Footprint 14.1.6.5. Strategy Overview 14.1.6.5.1. Marketing Strategy 14.1.6.5.2. Product Strategy 14.1.6.5.3. Channel Strategy 14.1.7. Craft Distiller 14.1.7.1. Overview 14.1.7.2. Product Portfolio 14.1.7.3. Profitability by Market Segments 14.1.7.4. Sales Footprint 14.1.7.5. Strategy Overview 14.1.7.5.1. Marketing Strategy 14.1.7.5.2. Product Strategy 14.1.7.5.3. Channel Strategy 14.1.8. Destileria Tlacolula 14.1.8.1. Overview 14.1.8.2. Product Portfolio 14.1.8.3. Profitability by Market Segments 14.1.8.4. Sales Footprint 14.1.8.5. Strategy Overview 14.1.8.5.1. Marketing Strategy 14.1.8.5.2. Product Strategy 14.1.8.5.3. Channel Strategy 14.1.9. Diageo Plc. 14.1.9.1. Overview 14.1.9.2. Product Portfolio 14.1.9.3. Profitability by Market Segments 14.1.9.4. Sales Footprint 14.1.9.5. Strategy Overview 14.1.9.5.1. Marketing Strategy 14.1.9.5.2. Product Strategy 14.1.9.5.3. Channel Strategy 14.1.10. Don Julio 14.1.10.1. Overview 14.1.10.2. Product Portfolio 14.1.10.3. Profitability by Market Segments 14.1.10.4. Sales Footprint 14.1.10.5. Strategy Overview 14.1.10.5.1. Marketing Strategy 14.1.10.5.2. Product Strategy 14.1.10.5.3. Channel Strategy 15. Assumptions & Acronyms Used 16. Research Methodology
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Demand and Trend Analysis of Mezcal in Korea
