Soju is a clear, colorless distilled beverage of Korean origin. It is usually consumed neat, and its alcohol content varies from about 16.8% to 53% alcohol by volume (ABV). Most brands of soju are made in South Korea. While it is traditionally made from rice, wheat, or barley, modern producers often replace rice with other starches such as potatoes, sweet potatoes, or tapioca
Soju Market Conspectus
Global Soju Market Report demonstrated that Soju market is poised to present surging growth during the predicted period from 2,830 million USD in 2019 to reach 3,929 million USD by 2026 with a CAGR of 4.8%. Global economic development, government regulations adjustment, related industry dynamics, industrial upgrading, and competition among market’s participators are some of the key factors that influence the Soju market development. A distinctive and comprehensive picture of Soju is embodied in the report.
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Major Participators Landscape
Major market participators covered in our report are HiteJinro, Lotte Liquor, Muhak, Kumbokju, C1 Soju, Bohae, Chungbuk, Hallasan, Mackiss, and Andong. These market players enjoyed broad industry coverage, outstanding operational ability, and strong financial resources. Manufacturers are focusing on product innovation, brand extension, and the introduction of new brands to cater to the preferences of consumers. Some of them will be endowed with vital future while others will show a weak growth during the prospective timeframe.
Market Dynamics Abstract
As the popularity of soju is rising steadily, leading Korean manufacturers are engaged in leveraging business expansion strategies to increase their soju market revenues, which is giving impetus to the Soju market growth. Furthermore, the increasing popularity of soju has also led to the introduction of multiple soju-based equivalents that are available as Western drink mixes based on vodka or other alcoholic drinks. This trend is helping the Soju market to gain size. Rapid urbanization, positive economic growth outlook in many developed and developing countries, rising disposable income the scope and potential for the global Soju market are factors that expected to drive the market growth over the forecast period.
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Soju Type Abstract
On the basis of the type, the Soju can be bifurcated into Distilled Soju and Diluted Soju.
Soju Application Abstract
The Soju is commonly used into Below 20 years old, Between 20 and 40 years old, Age from 40 to 60, and Above 60 years old.
Key Regions Overview
The report covers the major countries analysis in North America, Europe, Asia Pacific, and the rest of the world. Furthermore, policy mobilization, social dynamics, development trends, and economic development in these countries are also taken into consideration.
The Asia Pacific dominated the Soju market with a share of 52.13% and expected to maintain dominance during the forecast period, followed by North America and Europe with a share of 23.63% and 16.86%. Korea remains the largest consumer of soju despite the increasing popularity of other alcoholic beverages such as whiskey, beer and wine across the region. The increasing popularity of soju has led to the global distribution of soju-infused cocktails and mixed drinks in some of the developing countries.
Table of Content
1 Report Overview
1.1 Product Definition and Scope
1.2 PEST (Political, Economic, Social and Technological) Analysis of Soju Market
…
2 Market Trends and Competitive Landscape
3 Segmentation of Soju Market by Types
4 Segmentation of Soju Market by End-Users
5 Market Analysis by Major Regions
6 Product Commodity of Soju Market in Major Countries
7 North America Soju Landscape Analysis
8 Europe Soju Landscape Analysis
9 Asia Pacific Soju Landscape Analysis
10 Latin America, Middle East & Africa Soju Landscape Analysis
11 Major Players Profile
11.1 HiteJinro
11.1.1 HiteJinro Company Profile and Recent Development
11.1.2 Market Performance
11.1.3 Product and Service Introduction
11.2 Lotte Liquor
11.3 Muhak
11.4 Kumbokju
11.5 C1 Soju
11.6 Bohae
11.7 Chungbuk
11.8 Hallasan
11.9 Mackiss
11.10 Andong
…
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