The consumption of fusion beverage in Korea is estimated to display a modest CAGR of 6.1% through 2033. The sales of fusion beverage in Korea are expected to jump from US$ 152.06 million in 2023 to US$ 276.18 million by 2033.
Key players are leveraging the fusion beverage trend by developing distinct cocktails that attract adventurous consumer preferences and tastes. Additionally, players are focusing on the flavor profile and health quotient of fusion drinks to attract more customers. Manufacturers are expected to invest in this emerging category to gain significant returns in the future.
| Attributes | Details |
|---|---|
| Industry Size of Fusion Beverage in Korea in 2023 | US$ 152.06 million |
| Expected Industry Size of Fusion Beverage in Korea by 2033 | US$ 276.18 million |
| Forecast CAGR between 2023 to 2033 | 6.1% |
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Beverage industry players in Korea are exploring new opportunities in the fusion and RTD categories of beverage. Experimentation in cocktails and mocktails is predicted to attract a younger and more experimental consumer base.
Players in the health and wellness industry can collaborate with spirits companies to provide organic, low-calorie, and eco-friendly options to customers who prioritize well-being and fitness.
Increasing numbers of manufacturers of fusion beverage are developing product concepts that contain healthful ingredients like nectars, fruit splashes, and smoothies. This is expected to influence a creative and healthy product positioning.
Principal Consultant
| Leading Product Type | Fusion Alcoholic Beverage |
|---|---|
| Value Share % (2023) | 33% |
The fusion alcoholic beverage segment is estimated to account for a value share of 33% in 2023. Increasing knowledge about new flavors and ingredients among Koreans is creating heightened demand for fusion alcoholic beverage. Greater information regarding new product innovations can be attributed to wider access to foreign media and more travel experiences. Further, increasing interest in mixology is creating demand for blended cocktails.
There is a growing demand for lighter, flavorful, and refreshing beverage. This provides opportunities for leading players to develop a concoction of Korean ingredients with refreshing and lighter flavors. In tandem with this, players are investing in marketing and promotional activities to garner consumer interest. Marketing initiatives are expected to increase product visibility in Korea.
| Leading Distribution Channel | On-trade |
|---|---|
| Value Share % (2023) | 39% |
The on-trade segment, as estimated by our analysts, is expected to reach 39% in 2023. The increasing accessibility of on-trade venues like cafes, restaurants, and bars, particularly in urban areas, is contributing to this segment's growth. As a result, more customers can try new fusion beverage to taste unique flavors.
An increasing number of younger consumers frequent these on-trade establishments, thus appreciating the sales of fusion drinks made from on-trade sites. Immersive experiences of on-trade venues also play a key role in increasing the consumption of fusion drinks. The overall atmosphere, ambiance, and service at on-trade venues can contribute to the enjoyment of fusion beverage.
Fusion beverage industry players in Korea are concentrating on product innovation. This strategy aims to tap into a growing customer base for blended fusion drinks that combine traditional as well as modern flavors. Companies can be seen investing significantly in marketing campaigns to uplift awareness of fusion beverage. They are further developing robust concoctions to meet consumers' taste preferences.
Players are strengthening their distribution channels, such as online platforms and convenience stores, to boost accessibility. Moreover, leading firms are partnering with foodservice providers to offer their fusion beverage offerings in cafes and restaurants. This is projected to boost customer trials and reach more customers.
Key Developments
Detailed Profiles of Leading Players Providing Fusion Beverage in Korea
| Company Name | Company Particulars |
|---|---|
| Binggrae | Binggrae is a Korea-based food and beverage company that produces ice cream, snacks, milk products, etc. The company was founded way back in 1967. |
| Lotte Chilsung Beverage | The company is a drink manufacturer in Korea. The company offers a wide selection of soft drinks. Lotte Chilsung Beverage prides itself on having expertise in developing high-quality products. |
| Dongwon F&B | The company was founded in 2000 and it specializes in food products. The corporation follows the principle that healthy food is an effective medicine. Dongwon F&B aims to lead the Korean food culture. |
| Seoul Milk | The cooperative is headquartered in Seoul, Korea. It exports to various cities in China, including Shanghai, Beijing, Qingdao, Yanji, and Dalian. The company was founded in July 1937. |
| CJ CheilJedang | CJ CheilJedang Corporation is a Korea-based international food firm that develops food ingredients, frozen, ambient, and chilled packaged food products, biotechnology, and pharmaceuticals. Top brands of this company, include Hatbahn, Bibigo, and Gourmet. |
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| Attribute | Details |
|---|---|
| Estimated Industry Size of Fusion Beverage in Korea in 2023 | US$ 152.06 million |
| Projected Industry Size by 2033 | US$ 276.18 million |
| Anticipated CAGR between 2023 to 2033 | 6.1% CAGR |
| Historical Analysis of Demand for Fusion Beverage in Korea | 2019 to 2023 |
| Demand Forecast for Fusion Beverage in Korea | 2023 to 2033 |
| By Product Type | Fused coffee and tea, Carbonated Drinks, Fusion alcoholic Beverage, Fruit Juice, Energy and Sports Drinks, Others |
| By Distribution Channel | Off-trade (Grocers, Hypermarkets, Discounters, Online stores, Highly specialized retailers, Alcohol, confectionery, and Off-license stores, Supermarkets, Petrol stations), On-Trade (Bars, Pubs, and cafeterias, Restaurants, Hotels and resorts, Temporary retail points, mass events, Clubs, discos) |
| Report Coverage | Industry Size, Industry Trends, Analysis of Key Factors Influencing Fusion Beverage Consumption in Korea, Insights on Korea Players and their Industry Strategy in Korea, Ecosystem Analysis of Local and Regional Korea Providers |
| Key Companies Profiled | Binggrae; Lotte Chilsung Beverage; Dongwon F&B; Seoul Milk; CJ CheilJedang; Others |
The anticipated CAGR through 2033 is 6.1%.
Demand for fusion beverage in Korea is expected to reach US$ 276.18 million by 2033.
Innovations in the product are expected to be an effective strategy for players.
Fusion alcoholic beverage are a highly favored fusion beverage category in Korea.
On-trade is a significantly used distribution channel for fusion beverage.
1. Executive Summary 1.1. Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. 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 (Litre) Analysis, 2018 to 2022 4.2. Current and Future Market Size Value (US$ Million) & Volume (Litre) 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 (Litre) Analysis By Product Type, 2018 to 2022 5.3. Current and Future Market Size Value (US$ Million) & Volume (Litre) Analysis and Forecast By Product Type, 2023 to 2033 5.3.1. Fused coffee and tea 5.3.2. Carbonated Drinks 5.3.3. Fusion alcoholic Beverage 5.3.4. Fruit Juice 5.3.5. Energy and Sports Drinks 5.3.6. Others 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 Distribution Channel 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ Million) & Volume (Litre) Analysis By Distribution Channel:, 2018 to 2022 6.3. Current and Future Market Size Value (US$ Million) & Volume (Litre) Analysis and Forecast By Distribution Channel:, 2023 to 2033 6.3.1. Off-Trade 6.3.1.1. Grocers 6.3.1.2. Hypermarkets 6.3.1.3. Discounters 6.3.1.4. Online stores 6.3.1.5. Highly specialized retailers 6.3.1.6. Alcohol, confectionery, and Off-license stores 6.3.1.7. Supermarkets 6.3.1.8. Petrol stations 6.3.2. On-Trade 6.3.2.1. Bars, Pubs, and cafeterias 6.3.2.2. Restaurants 6.3.2.3. Hotels and resorts 6.3.2.4. Temporary retail points, mass events 6.3.2.5. Clubs, discos 6.4. Y-o-Y Growth Trend Analysis By Distribution Channel:, 2018 to 2022 6.5. Absolute $ Opportunity Analysis By Distribution Channel:, 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 (Litre) Analysis By Region, 2018 to 2022 7.3. Current Market Size Value (US$ Million) & Volume (Litre) 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 Fusion Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033 8.1. Historical Market Size Value (US$ Million) & Volume (Litre) Trend Analysis By Market Taxonomy, 2018 to 2022 8.2. Market Size Value (US$ Million) & Volume (Litre) Forecast By Market Taxonomy, 2023 to 2033 8.2.1. By Product Type 8.2.2. By Distribution Channel: 8.3. Market Attractiveness Analysis 8.3.1. By Product Type 8.3.2. By Distribution Channel: 8.4. Key Takeaways 9. North Jeolla Fusion Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033 9.1. Historical Market Size Value (US$ Million) & Volume (Litre) Trend Analysis By Market Taxonomy, 2018 to 2022 9.2. Market Size Value (US$ Million) & Volume (Litre) Forecast By Market Taxonomy, 2023 to 2033 9.2.1. By Product Type 9.2.2. By Distribution Channel: 9.3. Market Attractiveness Analysis 9.3.1. By Product Type 9.3.2. By Distribution Channel: 9.4. Key Takeaways 10. South Jeolla Fusion Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033 10.1. Historical Market Size Value (US$ Million) & Volume (Litre) Trend Analysis By Market Taxonomy, 2018 to 2022 10.2. Market Size Value (US$ Million) & Volume (Litre) Forecast By Market Taxonomy, 2023 to 2033 10.2.1. By Product Type 10.2.2. By Distribution Channel: 10.3. Market Attractiveness Analysis 10.3.1. By Product Type 10.3.2. By Distribution Channel: 10.4. Key Takeaways 11. Jeju Fusion Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033 11.1. Historical Market Size Value (US$ Million) & Volume (Litre) Trend Analysis By Market Taxonomy, 2018 to 2022 11.2. Market Size Value (US$ Million) & Volume (Litre) Forecast By Market Taxonomy, 2023 to 2033 11.2.1. By Product Type 11.2.2. By Distribution Channel: 11.3. Market Attractiveness Analysis 11.3.1. By Product Type 11.3.2. By Distribution Channel: 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 (Litre) Trend Analysis By Market Taxonomy, 2018 to 2022 12.2. Market Size Value (US$ Million) & Volume (Litre) Forecast By Market Taxonomy, 2023 to 2033 12.2.1. By Product Type 12.2.2. By Distribution Channel: 12.3. Market Attractiveness Analysis 12.3.1. By Product Type 12.3.2. By Distribution Channel: 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 Distribution Channel: 14. Competition Analysis 14.1. Competition Deep Dive 14.1.1. Lotte Chilsung Beverage Co., Ltd 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. Hite Jinro Co., Ltd 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. OKF Corporation 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. ZICO Beverages 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. Pepsico 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. Coca-Cola 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. Pocari 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. Gatorade 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. 100 Plus 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. Power Ade 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 14.1.11. Lucozade 14.1.11.1. Overview 14.1.11.2. Product Portfolio 14.1.11.3. Profitability by Market Segments 14.1.11.4. Sales Footprint 14.1.11.5. Strategy Overview 14.1.11.5.1. Marketing Strategy 14.1.11.5.2. Product Strategy 14.1.11.5.3. Channel Strategy 15. Assumptions & Acronyms Used 16. Research Methodology
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Demand and Trends Analysis of Fusion Beverage in Korea
