Report Update Nov 1, 2024

Republic of Korea - Sparkling Wine - Market Analysis, Forecast, Size, Trends and Insights

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Republic of Korea: Sparkling Wine Market 2024

Sparkling Wine Exports

Exports from Republic of Korea

In 2022, sparkling wine exports from South Korea contracted notably to X litres, declining by -19.7% compared with the previous year. Overall, exports, however, posted perceptible growth. The pace of growth appeared the most rapid in 2015 when exports increased by 5,501% against the previous year. As a result, the exports reached the peak of X litres. From 2016 to 2022, the growth of the exports failed to regain momentum.

In value terms, sparkling wine exports shrank rapidly to $X in 2022. In general, exports, however, showed a modest expansion. The pace of growth appeared the most rapid in 2015 when exports increased by 4,481%. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Qatar (X litres), Ghana (X litres) and the United Arab Emirates (X litres) were the main destinations of sparkling wine exports from South Korea, with a combined 76% share of total exports. These countries were followed by Thailand, Hong Kong SAR, Fiji, Singapore and Italy, which together accounted for a further 16%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Thailand (with a CAGR of +85.1%), while the other leaders experienced more modest paces of growth.

In value terms, Hong Kong SAR ($X), Qatar ($X) and Thailand ($X) constituted the largest markets for sparkling wine exported from South Korea worldwide, together comprising 60% of total exports.

Thailand, with a CAGR of +93.9%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average sparkling wine export price amounted to $X per litre, therefore, remained relatively stable against the previous year. In general, the export price showed a mild descent. The growth pace was the most rapid in 2013 an increase of 50%. Over the period under review, the average export prices reached the maximum at $X per litre in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per litre), while the average price for exports to Ghana ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+7.7%), while the prices for the other major destinations experienced more modest paces of growth.

Sparkling Wine Imports

Imports into Republic of Korea

In 2022, the amount of sparkling wine imported into South Korea fell to X litres, waning by -13.6% against the previous year. In general, imports, however, recorded a strong expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 37%. As a result, imports reached the peak of X litres, and then declined in the following year.

In value terms, sparkling wine imports contracted markedly to $X in 2022. Overall, imports, however, showed a strong expansion. The pace of growth was the most pronounced in 2021 when imports increased by 68% against the previous year. As a result, imports reached the peak of $X, and then fell notably in the following year.

Imports by Country

France (X litres), Italy (X litres) and Spain (X litres) were the main suppliers of sparkling wine imports to South Korea, together accounting for 41% of total imports. These countries were followed by Germany, Chile, South Africa and the United States, which together accounted for a further 4.5%.

From 2012 to 2022, the biggest increases were recorded for Chile (with a CAGR of +12.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, France ($X) constituted the largest supplier of sparkling wine to South Korea, comprising 36% of total imports. The second position in the ranking was held by Italy ($X), with a 5.6% share of total imports. It was followed by Spain, with a 3.1% share.

From 2012 to 2022, the average annual growth rate of value from France stood at +9.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-1.7% per year) and Spain (+11.2% per year).

Import Prices by Country

In 2022, the average sparkling wine import price amounted to $X per litre, falling by -7.6% against the previous year. Over the period under review, import price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sparkling wine import price increased by +15.8% against 2017 indices. The most prominent rate of growth was recorded in 2021 when the average import price increased by 23%. As a result, import price attained the peak level of $X per litre, and then declined in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per litre), while the price for South Africa ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (+3.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for sparkling wine in the world?

The countries with the highest volumes of sparkling wine consumption in 2021 were the United States, India and the UK, with a combined 44% share of global consumption.

What are the largest producers of sparkling wine in the world?

Italy remains the largest sparkling wine producing country worldwide, comprising approx. 29% of total volume. Moreover, sparkling wine production in Italy exceeded the figures recorded by the second-largest producer, France, twofold. The third position in this ranking was occupied by India, with a 14% share.

What are the leading suppliers of sparkling wine to Republic of Korea?

In value terms, France constituted the largest supplier of sparkling wine to South Korea, comprising 62% of total imports. The second position in the ranking was occupied by Italy, with a 21% share of total imports. It was followed by Spain, with a 5.9% share.

What are the leading importers of sparkling wine from Republic of Korea?

In value terms, South Africa emerged as the key foreign market for sparkling wine exports from South Korea, comprising 43% of total exports. The second position in the ranking was occupied by Italy, with a 12% share of total exports. It was followed by Hong Kong SAR, with an 11% share.

What is the average export price for sparkling wine in Republic of Korea?

The average sparkling wine export price stood at $2.8 per litre in 2021, which is down by -71% against the previous year.

What is the average import price for sparkling wine in Republic of Korea?

In 2021, the average sparkling wine import price amounted to $9 per litre, flattening at the previous year.

This report provides an in-depth analysis of the sparkling wine market in Republic of Korea. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 11021130 - Champagne (important: excluding alcohol duty)
Prodcom 11021190 - Sparkling wine from fresh grapes (excluding champagne, a lcohol duty)

Country coverage:

South Korea

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Republic of Korea
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023