Makgeolli Market Synopsis

Makgeolli Market Size Was Valued at USD 520.87 Million in 2023, and is Projected to Reach USD 979.57 Million by 2032, Growing at a CAGR of 7.27% From 2024-2032.

Makgeolli is believed to origina from Ancient Korea and is one of the oldest alcoholic beverages made from rice. This drink is made by fermenting rice, water and nuruk. It appears to be slightly opaque as a result of a milky substance and it is tangy and naturally fermented. Makgeolli is made with steamed rice that its starches are broken down, adding water and nuruk, then left for fermentation. When the preparation is fermented, the particles of rice are filtered out, so as to obtain a liquid which can be drank. Earlier, it has served itself as one of the recipes typical for the Korean countryside, and used to be served with other sorts of Korean dishes, such as pajeon and kimchi. Over the past decade, however, makgeolli has received a renewed interest because of the increasing interest in Korean cuisines all around the world. This identification has fostered developments in the makgeolli production such as flavored makgeolli and quality wines for makgeolli hence extending the attractiveness of makgeolli to the overall world market.

• As a result, a general trend of Makgeolli market has been observed on the global scale, especially due to the shifting preferences of consumers toward traditional and more specifically craft alcoholic beverages. Makgeolli is augmenting its spreads across regions outside Korea and it is especially popular among consumers in the under 30 age bracket and those who believe that it contains health benefits compared to western style alcoholic beverages. The value that consumers get from the beer includes its taste profile which is different from other beers, its lower alcohol content, assumed health benefits of the yeast content or effects of brewing and fermentation of nutrients. Also, the raise of popularity of Korean food and culture, stimulated by the process referred to as Hallyu has provided additional exposure for makgeolli in global markets.
• The products available in the market are wide andzangetfor globalization with new and flavoured variations along with artisanal and local specialties to supplement the continuously changing customer palate. Therefore, the market is in a constant process of fragmentation as both incumbent and new players seek to diversify their portfolios. Distribution channels include online and offline retail: Internet retailing, specialty stores, and traditional supermarkets, so that consumer access to these products is enhanced. However, some challenges include; regulation of the industry, where consumers have to be informed about traditional fermented beverages, competition with other alcoholic products.
• In conclusion, it is possible to state that makgeolli consumption is within the upward trend caused by the changes in culture, demographic policy, and new makgeolli types, as well as, tendency towards healthy spirits and non-traditional products. Thus it is high time for brands to capitalize on this momentum for emphatically improving the targeted market penetration and entrenching the brand loyalty worldwide through proper strategic marketing and education.

Makgeolli Market Trend Analysis

Authenticity and Health Appeal

• The consumers’ demand for more relaxing and natural tastes, or instead non-mainstream alcoholic drinks have also benefited the makgeolli, a sort of traditional Korea’s rice wine or wine-like beverage, locally and internationally. This growing interest can be attributed to the growing continued culture of healthy consumption which has seen consumers shift to what they deem healthy from conventional alcoholic beverages. Makgeolli is also favored by those who wish to cut down on alcohol consumption more than many wines and spirits to which it can be compared. Also, it gains the status of a highly nutritious product among health enthusiasts, owing to its rich probiotic and vitamins and amino acids discovered during its fermentation process.
• As mentioned, the trends of fermentation as well as the newly rising craft beverages also contributed to the boost of makgeolli’s popularity. A number of customers are on the lookout for products that combine great taste with possible health benefits, which correlates with the modern concept of wellness. This has created a sort of demand for variety of tastes and textures and producers have diversify their makgeolli by adding fruits and other herbs and spices to make it unique. Thanks to craft breweries and the small-batch producers that are still appearing on the market, makgeolli is slowly becoming a beverage for all as it goes through different changes. As we discover through traditions and with a twist of modernization, makgeolli is steadily grabbing the interest of diverse consumers looking for satisfying, satisfactory alcoholic beverages to consume.

Flavor Innovation and Packaging Advancements in the Makgeolli Market

• Despite from the current market size, makgeolli presents a dynamic innovation in the flavors and packaging controls to suit young drinkers. Producers continue to twist in nearly every which way they can when it comes to the flavor of soju through the addition of fruits, herbs, and spices into the concoction of this Korean rice wine in its most basic form. This process of shifting towards the flavors is relatively because many new craft breweries and producers of small batches of beer use features that aim at a more diverse audience. These brands’ producers are thus successfully targeting a population which seeks authenticity but also a twist in the traditional preparations through new tastes for the drinks.
• Other than the flavoring, shift, perhaps, packaging is also complementing in developing makgeolli’s convenience food, especially in urban areas. With the new Innovation makgeolli is now available in ready to drink formats and other environment friendly packing thus making them suitable for on the go and form parties among others. Such imperative for beautiful and functional packaging goes beyond just pursuing the look and appeal of makgeolli to the eco-centric consumer and effectively places makgeolli in a more contemporary light. In conclusion, the makgeolli market is in its continued growth due to the traditional practice integrated with innovation that enables the product to attract many consumers who desire change and special experience while consuming beer.

Makgeolli Market Segment Analysis:

• Makgeolli Market Segmented based on By Product Type, By Distribution Channel,By Type.

By Product Type, Traditional segment is expected to dominate the market during the forecast period

• The traditional wines occupy a special niche in the global market and have nostalgic values since they embody the national colors presented by the regions of their production. These wines are generally produced by traditional techniques over different generations, which represent the geographical and weather-specific factor characterizing wines obtained from those vineyards. Traditional wines are also usually in high demand among the consumers because consumers would like to taste wine for its genuine taste and being in touch with the culture of a definite area and tasting the gesture of a locally bounded culture. This feature is appealing to the people who concern about the source of their drinks, making their drinking more meaningful. This is because traditional wines come with elaborate stories to envelope all aspects of wine making from cultivation, to management of vines, fermentation, etc., which make customers desire to interact with the rich cultural history of wine, production.
• In addition to the tradition, traditional wines are enthusiasts’ premised on their workmanship and quality among the profound consumers. Due to the extensive focus that is laid down on the method of making the wines, they are most of the time a true representation of the area of origin while containing sundry flavors, fragrance, etc. With even consumers becoming very selective with what they consume, such genuine articles are much more valued than items made en-masse. This trend is further boosted by wine tourism where people use travel to visit producers, wineries to see traditional wine production up-close hence gaining a broader appreciation of wines. and thus the demand of these wines remains high fueled by the need to be associated with the original culture, the quality aspect and the ability to remain humble to ones heritage.

By Distribution Channel, Online segment held the largest share in 2023

• Online sales channels have experienced remarkable growth in recent years, transforming the way consumers access and purchase traditional wines. The convenience of shopping from home allows consumers to explore a vast array of products without the limitations of geographic location or store hours. This shift is particularly appealing to busy individuals and those in areas with limited access to specialized wine retailers. E-commerce platforms enable consumers to compare prices, read reviews, and discover new brands, creating a more informed purchasing experience. Additionally, the ability to purchase directly from producers through their websites has fostered a closer connection between consumers and wineries, further enhancing the online shopping experience.
• The rise of social media marketing has also played a crucial role in bolstering online sales channels for traditional wines. Platforms like Instagram and Facebook allow wineries to showcase their products visually, engage with their audience, and build brand loyalty. These channels facilitate targeted advertising, reaching specific demographics that are more likely to appreciate and invest in traditional wines. Influencer partnerships and user-generated content amplify brand visibility, encouraging consumers to share their experiences and recommendations with their networks. As a result, the combination of convenience, expanded product access, and effective marketing strategies has significantly contributed to the growth of online sales, positioning e-commerce as an integral part of the wine industry's evolution.

Makgeolli Market Regional Insights:

North America is Expected to Dominate the Market Over the Forecast period

• The related makgeolli market in North America is witnessing a phenomenal increase in growth because of the increasing trend in the population’s willingness to try new things in their diet. This demographic change has stimulated the demand for conventional and exotic drinks and makgeolli is likely to fit this niche market. This traditional Korean rice wine has slowly appeared in various Korean restaurants, niche grocery stores and shops as well as online stores, which increase its availability. Even more have been added by introduction of modern marketing techniques and food pairing that has placed makgeolli as not only a drink but an experience.
• Also, consumer’s awareness of health has boosted the popularity of makgeolli since most of the recipes do not have additives. It is actually quite aligned with modern trends as people today are looking for gluten-free, low alcohol content and the so called gut-friendly makgeolli. The fact that the beverage undergoes fermentation provides the final product with plenty of helpful probiotics, which is particularly appealing when it comes to making food wholesome. Because of this awareness together with the increasing demand for fermented foods makgeolli has opened up the market as a desirable one thus growing steadily in the market thus creating a place for itself in the drink market in North America.

Active Key Players in the Makgeolli Market

• HANA MAKGEOLLI (U.S.)
• BHD CO.,LTD (South Korea)
• KOOKSOONDANG BREWERY CO.LTD. (South Korea)
• Kumbokju Co. Ltd (South Korea)
• HITEJINRO CO.,LTD. (South Korea)
• Jeju Brewing Company (South Korea)
• Jinro (South Korea)
• Baesangmyun Brewery Co. (South Korea)
• LOTTE CHILSUNG BEVERAGE CO.,LTD. (South Korea)
• Sool (South Korea)
• Other Key Players

Key Industry Developments in the Makgeolli Market:

• In May 2023, Jipyeong Brewery established a Korean rice beer factory in Seoul, featuring automated brewing facilities. The facility spans 9,900 square meters and is designed to produce sterilized makgeolli. The brewery aims to target international markets, including the U.S., Europe, and Southeast Asia.

Chapter 1: Introduction
 1.1 Scope and Coverage

Chapter 2:Executive Summary

Chapter 3: Market Landscape
 3.1 Market Dynamics
  3.1.1 Drivers
  3.1.2 Restraints
  3.1.3 Opportunities
  3.1.4 Challenges
 3.2 Market Trend Analysis
 3.3 PESTLE Analysis
 3.4 Porter's Five Forces Analysis
 3.5 Industry Value Chain Analysis
 3.6 Ecosystem
 3.7 Regulatory Landscape
 3.8 Price Trend Analysis
 3.9 Patent Analysis
 3.10 Technology Evolution
 3.11 Investment Pockets
 3.12 Import-Export Analysis

Chapter 4: Makgeolli Market by Product Type
 4.1 Makgeolli Market Snapshot and Growth Engine
 4.2 Makgeolli Market Overview
 4.3 Traditional
  4.3.1 Introduction and Market Overview
  4.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.3.3 Key Market Trends, Growth Factors and Opportunities
  4.3.4 Traditional: Geographic Segmentation Analysis
 4.4 Premium
  4.4.1 Introduction and Market Overview
  4.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.4.3 Key Market Trends, Growth Factors and Opportunities
  4.4.4 Premium: Geographic Segmentation Analysis
 4.5 Flavoured
  4.5.1 Introduction and Market Overview
  4.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.5.3 Key Market Trends, Growth Factors and Opportunities
  4.5.4 Flavoured: Geographic Segmentation Analysis
 4.6 Organic
  4.6.1 Introduction and Market Overview
  4.6.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.6.3 Key Market Trends, Growth Factors and Opportunities
  4.6.4 Organic: Geographic Segmentation Analysis

Chapter 5: Makgeolli Market by Distribution Channel
 5.1 Makgeolli Market Snapshot and Growth Engine
 5.2 Makgeolli Market Overview
 5.3 Online
  5.3.1 Introduction and Market Overview
  5.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.3.3 Key Market Trends, Growth Factors and Opportunities
  5.3.4 Online: Geographic Segmentation Analysis
 5.4 Offline
  5.4.1 Introduction and Market Overview
  5.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.4.3 Key Market Trends, Growth Factors and Opportunities
  5.4.4 Offline: Geographic Segmentation Analysis

Chapter 6: Makgeolli Market by Type
 6.1 Makgeolli Market Snapshot and Growth Engine
 6.2 Makgeolli Market Overview
 6.3 Sake wine
  6.3.1 Introduction and Market Overview
  6.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.3.3 Key Market Trends, Growth Factors and Opportunities
  6.3.4 Sake wine: Geographic Segmentation Analysis
 6.4 Makgeolli wine
  6.4.1 Introduction and Market Overview
  6.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.4.3 Key Market Trends, Growth Factors and Opportunities
  6.4.4 Makgeolli wine: Geographic Segmentation Analysis
 6.5 others
  6.5.1 Introduction and Market Overview
  6.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.5.3 Key Market Trends, Growth Factors and Opportunities
  6.5.4 others: Geographic Segmentation Analysis

Chapter 7: Company Profiles and Competitive Analysis
 7.1 Competitive Landscape
  7.1.1 Competitive Benchmarking
  7.1.2 Makgeolli Market Share by Manufacturer (2023)
  7.1.3 Industry BCG Matrix
  7.1.4 Heat Map Analysis
  7.1.5 Mergers and Acquisitions
  
 7.2 HANA MAKGEOLLI (US)
  7.2.1 Company Overview
  7.2.2 Key Executives
  7.2.3 Company Snapshot
  7.2.4 Role of the Company in the Market
  7.2.5 Sustainability and Social Responsibility
  7.2.6 Operating Business Segments
  7.2.7 Product Portfolio
  7.2.8 Business Performance
  7.2.9 Key Strategic Moves and Recent Developments
  7.2.10 SWOT Analysis
 7.3 BHD CO LTD (SOUTH KOREA)
 7.4 KOOKSOONDANG BREWERY CO LTD (SOUTH KOREA)
 7.5 KUMBOKJU CO LTD (SOUTH KOREA)
 7.6 HITEJINRO CO LTD (SOUTH KOREA)
 7.7 JEJU BREWING COMPANY (SOUTH KOREA)
 7.8 JINRO (SOUTH KOREA)
 7.9 BAESANGMYUN BREWERY CO (SOUTH KOREA)
 7.10 LOTTE CHILSUNG BEVERAGE CO LTD (SOUTH KOREA)
 7.11 SOOL (SOUTH KOREA)
 7.12 OTHER KEY PLAYERS

Chapter 8: Global Makgeolli Market By Region
 8.1 Overview
 8.2. North America Makgeolli Market
  8.2.1 Key Market Trends, Growth Factors and Opportunities
  8.2.2 Top Key Companies
  8.2.3 Historic and Forecasted Market Size by Segments
  8.2.4 Historic and Forecasted Market Size By Product Type
  8.2.4.1 Traditional
  8.2.4.2 Premium
  8.2.4.3 Flavoured
  8.2.4.4 Organic
  8.2.5 Historic and Forecasted Market Size By Distribution Channel
  8.2.5.1 Online
  8.2.5.2 Offline
  8.2.6 Historic and Forecasted Market Size By Type
  8.2.6.1 Sake wine
  8.2.6.2 Makgeolli wine
  8.2.6.3 others
  8.2.7 Historic and Forecast Market Size by Country
  8.2.7.1 US
  8.2.7.2 Canada
  8.2.7.3 Mexico
 8.3. Eastern Europe Makgeolli Market
  8.3.1 Key Market Trends, Growth Factors and Opportunities
  8.3.2 Top Key Companies
  8.3.3 Historic and Forecasted Market Size by Segments
  8.3.4 Historic and Forecasted Market Size By Product Type
  8.3.4.1 Traditional
  8.3.4.2 Premium
  8.3.4.3 Flavoured
  8.3.4.4 Organic
  8.3.5 Historic and Forecasted Market Size By Distribution Channel
  8.3.5.1 Online
  8.3.5.2 Offline
  8.3.6 Historic and Forecasted Market Size By Type
  8.3.6.1 Sake wine
  8.3.6.2 Makgeolli wine
  8.3.6.3 others
  8.3.7 Historic and Forecast Market Size by Country
  8.3.7.1 Bulgaria
  8.3.7.2 The Czech Republic
  8.3.7.3 Hungary
  8.3.7.4 Poland
  8.3.7.5 Romania
  8.3.7.6 Rest of Eastern Europe
 8.4. Western Europe Makgeolli Market
  8.4.1 Key Market Trends, Growth Factors and Opportunities
  8.4.2 Top Key Companies
  8.4.3 Historic and Forecasted Market Size by Segments
  8.4.4 Historic and Forecasted Market Size By Product Type
  8.4.4.1 Traditional
  8.4.4.2 Premium
  8.4.4.3 Flavoured
  8.4.4.4 Organic
  8.4.5 Historic and Forecasted Market Size By Distribution Channel
  8.4.5.1 Online
  8.4.5.2 Offline
  8.4.6 Historic and Forecasted Market Size By Type
  8.4.6.1 Sake wine
  8.4.6.2 Makgeolli wine
  8.4.6.3 others
  8.4.7 Historic and Forecast Market Size by Country
  8.4.7.1 Germany
  8.4.7.2 UK
  8.4.7.3 France
  8.4.7.4 Netherlands
  8.4.7.5 Italy
  8.4.7.6 Russia
  8.4.7.7 Spain
  8.4.7.8 Rest of Western Europe
 8.5. Asia Pacific Makgeolli Market
  8.5.1 Key Market Trends, Growth Factors and Opportunities
  8.5.2 Top Key Companies
  8.5.3 Historic and Forecasted Market Size by Segments
  8.5.4 Historic and Forecasted Market Size By Product Type
  8.5.4.1 Traditional
  8.5.4.2 Premium
  8.5.4.3 Flavoured
  8.5.4.4 Organic
  8.5.5 Historic and Forecasted Market Size By Distribution Channel
  8.5.5.1 Online
  8.5.5.2 Offline
  8.5.6 Historic and Forecasted Market Size By Type
  8.5.6.1 Sake wine
  8.5.6.2 Makgeolli wine
  8.5.6.3 others
  8.5.7 Historic and Forecast Market Size by Country
  8.5.7.1 China
  8.5.7.2 India
  8.5.7.3 Japan
  8.5.7.4 South Korea
  8.5.7.5 Malaysia
  8.5.7.6 Thailand
  8.5.7.7 Vietnam
  8.5.7.8 The Philippines
  8.5.7.9 Australia
  8.5.7.10 New Zealand
  8.5.7.11 Rest of APAC
 8.6. Middle East & Africa Makgeolli Market
  8.6.1 Key Market Trends, Growth Factors and Opportunities
  8.6.2 Top Key Companies
  8.6.3 Historic and Forecasted Market Size by Segments
  8.6.4 Historic and Forecasted Market Size By Product Type
  8.6.4.1 Traditional
  8.6.4.2 Premium
  8.6.4.3 Flavoured
  8.6.4.4 Organic
  8.6.5 Historic and Forecasted Market Size By Distribution Channel
  8.6.5.1 Online
  8.6.5.2 Offline
  8.6.6 Historic and Forecasted Market Size By Type
  8.6.6.1 Sake wine
  8.6.6.2 Makgeolli wine
  8.6.6.3 others
  8.6.7 Historic and Forecast Market Size by Country
  8.6.7.1 Turkey
  8.6.7.2 Bahrain
  8.6.7.3 Kuwait
  8.6.7.4 Saudi Arabia
  8.6.7.5 Qatar
  8.6.7.6 UAE
  8.6.7.7 Israel
  8.6.7.8 South Africa
 8.7. South America Makgeolli Market
  8.7.1 Key Market Trends, Growth Factors and Opportunities
  8.7.2 Top Key Companies
  8.7.3 Historic and Forecasted Market Size by Segments
  8.7.4 Historic and Forecasted Market Size By Product Type
  8.7.4.1 Traditional
  8.7.4.2 Premium
  8.7.4.3 Flavoured
  8.7.4.4 Organic
  8.7.5 Historic and Forecasted Market Size By Distribution Channel
  8.7.5.1 Online
  8.7.5.2 Offline
  8.7.6 Historic and Forecasted Market Size By Type
  8.7.6.1 Sake wine
  8.7.6.2 Makgeolli wine
  8.7.6.3 others
  8.7.7 Historic and Forecast Market Size by Country
  8.7.7.1 Brazil
  8.7.7.2 Argentina
  8.7.7.3 Rest of SA

Chapter 9 Analyst Viewpoint and Conclusion
9.1 Recommendations and Concluding Analysis
9.2 Potential Market Strategies

Chapter 10 Research Methodology
10.1 Research Process
10.2 Primary Research
10.3 Secondary Research