Soju Market Trends,Size,Status and Forecast 2025

A Korean origin beverage, Soju is a clear distilled liquor that is mostly made from rice, wheat, or barley. Instead of rice, other starches such as potatoes, sweet potatoes, or tapioca are also used to prepare it. Also, it constitutes about 20 to 40 percent of alcohol and comes in a variety of flavors such as apple, blueberry, pomegranate, lemon, grapefruit, and more. Soju is a serious business in Korea and has been enjoying great popularity there since the 14th century because of its ready availability and relatively low price. The uncomplicated nature of the hooch makes it great for friendly or family occasions. Soju is traditionally taken with meals or food but also mixes into cocktails. Soju brands are also available outside Korea. In Canada, liquors are subject to regulations that differ from one province to another. The liquor licensing laws in the states of California and New York exempt the sale of soju from regulation related to the sale of other distilled beverages. This allows businesses to sell soju with a beer/wine license without an expensive license required for other distilled spirits.

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The market for soju is growing rapidly owing to its low cost and easy availability. In a report added by Research Beam, the market valued at USD XX million in 2017 and is expected to reach USD XX million by the end of 2025, growing at a CAGR of XX% between 2018 and 2025. The players operating in the industry include HiteJinro, Lotte Liquor, Muhak, Kumbokju, C1 Soju, Bohea, Chungbuk, Hallasan, Mackiss, and Andong. By product type, the market is segmented into distilled soju and diluted soju. By geography, the market analysis covers the regions such as North America, Europe, China, Japan, Southeast Asia, and India. Based on end-users, the market is classified into below 20 years old, between 20 and 40 years old, age from 40 to 60, and above 60 years old.

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Soju accounts for 97% of all the white spirits sold in South Korea. It global sales in 2013 was 750 million bottles. The second biggest brand of spirits, Smirnoff sold less than half of that number in the same year. The most popular variety of Soju is Chamiseul at present. Hite Jinro, a distiller in South Korea recently succeeded in launching Chamiseul at duty-free shops in Hong Kong’s Chek Lap Kok International Airport, one of the prime international airports in Asia. The airport year has eight alcohol and cigarette stores. Hite Jinro has plans of adopting a marketing strategy to raise brand awareness. Its plan is to allow tourists visit Hong Kong to directly experience the brand of Chamiseul and easily purchase the liquor at duty-free shops in Chek Lap Kok International Airport. The firm is already selling Soju brands at duty-free shops in prime airports in Asia, including Changi Airport in Singapore, Bali Airport in Indonesia, and Yangon Airport in Myanmar.

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