PROSPECTS AND OPPORTUNITIES
Embracing functional ingredients in traditional beverages
Little movement is expected in Asian speciality drinks in South Korea in off-trade volume terms in the forecast period, with just a low negative CAGR anticipated. Nevertheless, as consumers become more focused on health benefits in their food and drink choices, there is a growing opportunity for brands to integrate functional ingredients into traditional Asian speciality drinks and potentially drive growth.
Expanding the market for rice-based beverages
Rice-based beverages, traditionally seen as niche products, have the potential to expand their share significantly as they align more closely with health and wellness trends. The success of Birak Shikhye Zero and steady sales of Woongjin Food’s Morning Rice shows that there is strong consumer interest in modernised versions of these drinks.
Catering to the needs of an ageing population with modernised K-drinks
As South Korea’s population continues to age, there is a growing opportunity to develop K-drinks that cater specifically to the needs and preferences of older consumers. This demographic, while still interested in traditional flavours, is also increasingly concerned with health and wellness.
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Overview:
Understand the latest market trends and future growth opportunities for the Asian Speciality Drinks industry in South Korea with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Asian Speciality Drinks industry in South Korea, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Asian Speciality Drinks in South Korea report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Asian Speciality Drinks in South Korea?
- To what extent are health considerations impacting consumption of Asian Speciality Drinks in South Korea?
- How are changing social attitudes and legislation (eg sugar tax) reshaping demand and consumption?
- How are changing demographics (for example, an ageing or predominantly young population) determining consumption of Asian Speciality Drinks in South Korea?
- Which are the leading brands in Asian Speciality Drinks in South Korea?
- What potential exists for multinational or domestic soft drinks companies to expand in South Korea?
- How are products distributed in Asian Speciality Drinks in South Korea?
- How is the rise of e-commerce changing the retail and competitive landscape?
- How have home seclusion and social distancing measures following COVID-19 impacted sales of Asian Speciality Drinks?
- How are sustainability issues, such as environmentally-friendly packaging, legislation on recyclability, or the amount of plastic in bottles, impacting the soft drinks industry?
- Where is future growth expected to be most dynamic?
Asian Speciality Drinks in South Korea - Category analysis
KEY DATA FINDINGS
K-drinks and a renewed interest in rice-based beverages
The “Grandmillennial” trend – embracing retro beverages
Ginseng-based drinks lose out to products offering scientific evidence of efficacy
Embracing functional ingredients in traditional beverages
Expanding the market for rice-based beverages
Catering to the needs of an ageing population with modernised K-drinks
Soft Drinks in South Korea - Industry Overview
Soft drinks in 2024: The big picture
2024 key trends
Competitive landscape
Retailing developments
Foodservice vs retail split
What next for soft drinks?
Fountain sales in South Korea
Trends
DISCLAIMER
Asian Speciality Drinks
This category includes all traditional Asian drinks not included in RTD tea or juice drinks, including products such as Bandung (rose syrup with milk), bird’s nest, tamarind juice, ginger, lemongrass, roselle, zalaka, jelly drinks including grass jelly (cincau), sugar cane, and vinegar drinks. Lactic acid drinks, such as Calpis, are included here. Drinks containing a limited amount of yogurt (generally 3% or less) such as Bikkle, are included here, though drinking yogurts such as Yakult are excluded. While both products are highly popular in markets like Japan, drinking yogurts will contain mostly yogurt with a very short shelf life (two weeks or less), while yogurt drinks will contain less than 3% dairy and remain on the shelves for up to 9 months. All nut or pulse-based products, such as peanut milk, almond juice, or soy drinks are tracked in Non-Dairy Milk alternatives in Passport Packaged Food.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Asian Speciality Drinks research and analysis database.
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