Global Makgeolli Market Forecasts to 2033

• The Global Makgeolli Market Size was Valued at USD 522.3 Million in 2023
• The Market Size is Growing at a CAGR of 7.27% from 2023 to 2033
• The Worldwide Makgeolli Market Size is Expected to Reach USD 1053.8 Million by 2033
• Europe is Expected to Grow the fastest during the forecast period.

The Makgeolli Market Size is Anticipated to Exceed USD 1053.8 Million by 2033, Growing at a CAGR of 7.27% from 2023 to 2033.

MAKGEOLLI MARKET REPORT OVERVIEW

Makgeolli popularly known as Korean rice wine is a traditional Korean alcoholic beverage produced with rice and nuruk, a traditional fermentation starter used to make makgeolli. Makgeolli's low alcohol concentration (6–9%) and antioxidant-rich polyphenols (such as quercetin and resveratrol) give it a notable astringency and an intriguing, light, sparkling tone. Though it is still alcohol, the composition of fresh makgeolli, which includes significant amounts of lactic acid bacteria like lactobacillus, starch, proteins, dietary fiber, free amino acids, vitamin nutrients, and bioactive components, is thought to be beneficial to health. When compared to yogurt, makgeolli is thought to have explosive health benefits and is classified as a probiotic liquor.

Makgeolli is closely associated with Korean traditions and customs since it is commonly utilized in ancestral ceremonies and other ceremonial events. Makgeolli is an ethnic dish that is traditionally served in large pots or kettles and symbolizes harmony and friendship. The inauguration of festivals and exhibitions dedicated to this traditional beverage is evidence of the commitment to preserving and advancing Makgeolli's cultural heritage. To ensure that traditional brewers explore different rice varieties and fermentation procedures to generate distinctive flavor profiles that appeal to both home and overseas markets, the Korean government and many cultural groups encourage small-scale brewers. Exports of ‘makgeolli' from Kooksoondang reached a record high in 2022. The Korean brewer claimed to have exported products worth US$10.7 million in 2022.

Report Coverage

This research report categorizes the market for the global makgeolli market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global makgeolli market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global makgeolli market.

DRIVING FACTORS:

In response to the growing demand for makgeolli, numerous Korean companies have expanded their operations abroad.

Makgeolli's revolution from a provincial pillar to a popular visitor attraction worldwide is mainly due to the rising interest in Korean food and culture around the world. Makgeolli producers are reacting to customer requests for the finest, handcrafted alcoholic beverages by showcasing outmoded brewing techniques while innovating with discriminations and elements. For instance, Kooksoondang has amplified its auctions to universal markets after presenting canned makgeolli, a type of rice wine, to Korea. With the United States serving as its main market, the company currently exports makgeolli to over 50 nations.

RESTRAINING FACTORS

The alternation of raw material prices and rising competition from manufacturers could restrict market growth.

The market must strike a balance between traditional appeal and current innovation, as well as contend with competition from other alcoholic beverages and shifting raw material prices. However, sudden changes in environmental conditions could affect the production of raw materials hence market would decrease tremendously.

Market Segmentation

The makgeolli market share is classified into type and distribution channel.

The flavor segment accounted for the dominant market share throughout the forecast period.

Based on flavor, the makgeolli is classified into flavored, and unflavored. Makgeolli which is produced commercially comes in a range of fruit flavors, including strawberry, apple, peach, and raspberry. It's particularly easy to drink due to its modest alcohol content (6–8% proof) and sweet flavor. Makgeolli, in contrast to other alcoholic drinks, is best consumed unfiltered and shaken or stirred. The drink's popularity has been greatly expanded by introducing a wide range of flavors, from fruity infusions like peach, strawberry, and apple to more exotic blends including herbs and spices. This innovation appeals to both younger consumers seeking new and fashionable beverages and older generations who value the improved flavor without sacrificing the traditional.

The off-trade distribution channel has the highest share of the market over the forecast period.

Based on the distribution channel, the makgeolli is classified into off-trade and on-trade. Makgeolli can be purchased for domestic consumption through off-trade distribution channels such as supermarkets, hypermarkets, specialized shops, and internet platforms. There are other reasons for this dominance in off-trade sales. Customers can easily add makgeolli to their drinking occasions due to the accessibility and convenience of these channels appeal to busy lifestyles. Moreover, it enables customer choice and decision-making to be able to associate pricing and foodstuffs across different brands and package sizes. Also, the appearance of e-commerce stages has expanded the spectators for Makgeolli by giving customers to buy a variety of products from the comfort of their homes.

Regional Segment Analysis of the Global Makgeolli Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America has the biggest share of the makgeolli market throughout the forecast period.

The increasing demand for Korean tradition which has influenced many facets of lifestyle, including food and drink tastes, is responsible for this substantial market share in North America. A growing number of Korean eateries and bars have opened up in major cities, introducing makgeolli to a large number of North American consumers and generating demand. Additionally, the rising trend of health-conscious consumers has been vital, since makgeolli is often seen as a healthier substitute for alcohol because of its natural components and fermentation process, which is expected to provide probiotic benefits.

The Europe is fastest growing region during the projected timeframe.

The mounting admiration of Asian food and beverages is fuelling the makgeolli markets throughout Europe. European patrons are looking for uncommon and interesting flavors in their food and beverage selections, and they are getting more enterprising. The region's shifting lifestyle tastes and rising disposable income are two of the main factors fuelling this market expansion.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global makgeolli market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• 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
• Others

Key Market 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.

• In May 2023, In Seoul, Jipyeong Brewery constructed an automated rice beer brewing plant. The 9,900 square meter plant would manufacture sterilized Makgeolli to sell it to markets throughout Southeast Asia, Europe, and the United States.

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