Global Makgeolli Market Size To Worth USD 1053.8 Million By 2033 | CAGR Of 7.27%
Category: Food & BeveragesGlobal Makgeolli Market Size To Worth USD 1053.8 Million By 2033
According to a research report published by Spherical Insights & Consulting, The Global Makgeolli Market is to Grow from USD 522.3 Million in 2023 to USD 1053.8 Million by 2033, at a Compound Annual Growth Rate (CAGR) of 7.27% during the projected period.
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Browse key industry insights spread across 220 pages with 115 Market data tables and figures & charts from the report on the "Global Makgeolli Market Size, Share, and COVID-19 Impact Analysis, By Flavor (Flavored, and Unflavored), By Distribution Channel (Off-trade, and On-trade), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/makgeolli-market
Makgeolli, also referred to as Korean rice wine, is a traditional alcoholic beverage made in Korea from rice and nuruk, a traditional fermentation starter. Makgeolli has an interesting, light, sparkling tone and a noticeable astringency due to its antioxidant-rich polyphenol and low alcohol content (6–9%). Fresh makgeolli contains considerable concentrations of lactic acid bacteria, such as lactobacillus, carbohydrates, proteins, dietary fiber, free amino acids, vitamin elements, and bioactive components. Despite being an alcohol, its composition is regarded to be helpful to health. Makgeolli is categorized as a probiotic liquor and is said to have enormous health benefits when compared to yogurt. However, the fluctuating cost of raw materials and growing manufacturer competition might restrict the market's expansion.
The flavor category held the dominating market share.
Based on flavor, the makgeolli is classified into flavored, and unflavored. Among these, the flavor category held the dominating market share. Commercially made makgeolli is available in several fruit tastes, such as strawberry, apple, peach, and raspberry. Its mild alcohol content (6–8% proof) and sweet flavor make it especially drinkable. Despite other alcoholic drinks, makgeolli tastes best when shaken or stirred without a filter. The drink has been enhanced with a wide range of flavors, from sweet infusions like peach, strawberry, and apple to more unusual combinations like herbs and spices, greatly broadening its popularity. This invention appeals to older generations who enjoy the enhanced flavor without compromising the traditional as well as newer consumers looking for fresh and stylish beverages.
It is anticipated that the off-trade distribution channel is going to hold the biggest market share.
Based on the distribution channel, the makgeolli is classified into off-trade and on-trade. Among these, it is anticipated that the off-trade distribution channel is going to hold the biggest market share. Supermarkets, hypermarkets, specialty stores, online retailers, and other off-trade distribution channels are places where Makgeolli can be bought for domestic use. This dominance in off-trade sales has other causes. Due to the accessibility and simplicity of these channels, which suit busy lifestyles, customers might effortlessly incorporate makgeolli into their drinking times. Additionally, it facilitates consumer choice and decision-making by allowing them to link food prices and packages across various brands and sizes. Additionally, the emergence of e-commerce platforms has increased the number of viewers for makgeolli by enabling consumers to purchase a range of products from the convenience of their homes.
North America has the highest share of the global makgeolli market over the forecast period.
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This significant market share in North America can be attributed to the growing demand for Korean tradition, which has influenced many aspects of living, including food and drink choices. In major cities, an increasing number of Korean restaurants and bars have appeared, exposing makgeolli to a huge number of North American consumers and creating demand. Furthermore, the growing popularity of health-conscious consumers has been essential, as makgeolli is frequently regarded as a better option than alcohol because of its natural ingredients and fermenting process, which is thought to have probiotic advantages.
Europe is predicted to grow fastest pace throughout the forecast period. The growing popularity of Asian cuisine and drinks is driving the makgeolli business in Europe. Consumers in Europe are growing more daring and are looking for unique and captivating flavors in their eats and drinks. The area's shifting lifestyle tastes and growing disposable income are two of the main factors driving this market rise.
Major vendors in the global makgeolli market include Takara Holdings Inc, Asahishuzo Co.Ltd, Kook Soon Dang Brewery, IL DONG, Kim’s Seng Mak, Seoul Jangsoo Co, Ltd, Makku, Soony, Gyeongju Beopju, BHD CO., LTD, Hana Makgeolli, Vancouver Makgeolli, Blue Current Brewery, Sun Masamune Pty Limited, and Others.
Recent Developments
- In February 2024, under his newly created liquor brand Kyung, South Korean musician Sung Si-kyung introduced makgeolli. The musician and upstart brewery J1 collaborated to create this Korean wine.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global makgeolli market based on the below-mentioned segments:
Global Makgeolli Market, By Flavor
- Flavored
- Unflavored
Global Makgeolli Market, By Distribution Channel
- Off-trade
- On-trade
Global Makgeolli Market, By Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
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Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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