PROSPECTS AND OPPORTUNITIES
Premiumisation and wellness trends to drive growth in fine wines/champagne and spirits
Fine wines/champagne and spirits in South Korea is anticipated to continue to experience solid growth, due to the ongoing premiumisation trend, which is expected to intensify between 2025 and 2030. Retail sales in this category are projected to increase at a compound annual growth rate (CAGR) of 5% in current value terms (2025 constant value CAGR of 3%) over the forecast period.
Luxury brands set to adopt sustainable practices and immersive experiences
Leading companies in fine wines/champagne and spirits in South Korea are expected to adopt a multifaceted strategy to capture luxury sales of alcoholic drinks from 2025 to 2030. For example, sustainability will be pivotal in product development and marketing, with an emphasis on eco-friendly packaging, responsible sourcing, and reduced carbon footprints.
Growing demand off-trade, but on-trade will also remain important
The shift towards home consumption of fine wines/champagne and spirits in South Korea is anticipated to continue gaining momentum throughout the forecast period 2025-2030, driven by evolving consumer preferences and dynamic trends. Although on-trade venues such as restaurants, bars, and hotels will remain vital for showcasing the latest luxury alcoholic drinks innovations, off-trade (retail) channels are expected to experience significant growth.
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Overview:
Understand the latest market trends and future growth opportunities for the Fine Wines/Champagne and Spirits 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 Fine Wines/Champagne and Spirits 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 Fine Wines/Champagne and Spirits 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 Fine Wines/Champagne and Spirits in South Korea?
- Which are the leading brands in Fine Wines/Champagne and Spirits in South Korea?
- How are products distributed in Fine Wines/Champagne and Spirits in South Korea?
- How important is tourism in evaluating demand for Fine Wines/Champagne and Spirits in South Korea?
- How is the rise of e-commerce changing the retail and competitive landscape?
- How has COVID-19 and global recession impacted demand for luxury goods? What are the opportunities amidst the adversity?
- Where is future growth expected to be most dynamic?
Fine Wines/Champagne and Spirits in South Korea - Category analysis
KEY DATA FINDINGS
Premiumisation trend in alcoholic drinks drives growth for fine wines/champagne and spirits
Ballantine’s Masters sees dynamic growth with launch of limited editions
Growing demand for premium imported wines and spirits drives growth
Premiumisation and wellness trends to drive growth in fine wines/champagne and spirits
Luxury brands set to adopt sustainable practices and immersive experiences
Growing demand off-trade, but on-trade will also remain important
Luxury Goods in South Korea - Industry Overview
Luxury goods in 2025: The big picture
2025 key trends
Competitive landscape
Retail developments
What next for luxury goods?
COUNTRY REPORTS DISCLAIMER
The following categories and subcategories are included:
Fine Wines/Champagne and Spirits
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- Fine Champagne
- Other Fine Wine
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- Luxury Brandy and Cognac
- Luxury Whiskies
- Other Luxury Spirits
Fine Wines/Champagne and Spirits
This is the aggregation of fine wines and luxury spirits.
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 Fine Wines/Champagne and Spirits research and analysis database.
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