According to a research report published by Spherical Insights & Consulting, the Global Makgeolli Market Size Expected to Grow from USD 522.3 Million in 2023 to USD 1053.8 Million by 2033, at a CAGR of 7.27% during the forecast period 2023-2033.

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Makgeolli is a traditional Korean rice wine that is brewed from rice, water, and a special yeast starter called Nuruk. It has a sweetish and slightly sour flavor and appears milky due to the presence of floating particles of rice and yeast. Rice, water, and nuruk are the ingredients of makgeolli, which is a traditional fermentation process using wheat and barley. It prepares in a controlled environment that takes a few days or weeks of fermentation. After fermentation, the mixture is pressed to separate from solid rice particles, which forms a beverage that can be consumed. The demand for quality beverages has surged over time, shaping the changing market scenario. Consumers are now attracted towards high-quality, craft-made alcohols, thus marking a remarkable transition in prevailing industrial trends. Makgeolli producers have adopted this transformation by focusing on techniques rooted in tradition and further innovating with modern flavors and ingredients according to changing consumer tastes. However, it means that the market has to find a middle ground between traditional appeal and contemporary innovation while facing competition from several other alcoholic categories due to changes in raw material prices and of course environmental conditions. But abrupt changes in environmental conditions could have adverse effects on raw material production, hence a substantial decrease in the market.

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Browse key industry insights spread across 270 pages with 130 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), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.”

The flavor segment is expected to hold the dominant share of the global Makgeolli market during the projected timeframe.

Based on flavor, the global makgeolli market is categorized as flavored and unflavored. Among these, the flavor segment is expected to hold the dominant share of the global makgeolli market during the projected timeframe. The segmental growth due to the commercially produced makgeolli also comes in varieties boasting fruit flavors like strawberry, apple, peach, and raspberry. This ever-expanding volume of flavors, from fruity infusions such as peach, strawberry, or apple to more exotic ones such as herbs and spices, made the popularity of such drinks even huger.

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

Based on the distribution channel, makgeolli is categorized into off-trade and on-trade. Among these, the off-trade segment has the majority share of the market over the forecast period. The growth is attributed to these retail channels for off-trade consumption include supermarkets, hypermarkets, specialty stores, and online platforms from which consumers can buy makgeolli for home. This scenario is brought about by a number of causes: The convenience and accessibility offered by these channels among those busy lifestyles enable consumers to prepare easily for drinking occasions that include makgeolli.

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North America is projected to hold the largest share of the global Makgeolli market over the forecast period.

North America is projected to hold the largest share of the global makgeolli market over the forecast period. This large demand in North America can be accounted for by the general rise in demand for Korean traditions that affect many areas of lifestyle, including food and drink preferences. An increasing number of Korean restaurants and bars have sprouted in various major cities, bringing makgeolli to the taste buds of millions across North America, thus developing demand. This particular trend is compounded by the rising demands of health-conscious consumers, as makgeolli is generally perceived as being a healthier substitute for alcoholic drinks because of its organic ingredients and the fermentation method.

Europe is expected to grow at the fastest CAGR growth of the global makgeolli market during the forecast period. The growing popularity of Asian cuisine and drinks has started the makgeolli markets in Europe. There are very few drinkers in Europe who are willing to explore unusual flavors in their drinks or even food. But this fact is changing with time. One of the major factors driving this market expansion is changing lifestyle tastes and an increase in disposable income in the continent.

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. Major vendors in the global makgeolli market are 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 Target Audience

• Market Players
• Investors
• End-users
• Government Authorities
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Key Market Development

• In February 2024, Sung Si-kyung, the South Korean singer, has unveiled makgeolli through his new liquor brand Kyung. This alcoholic beverage is a collaborative effort by startup brewery J1 and the singer.
• In May 2023, Jipyeong Brewery has set up a rice beer manufacturing factory in Seoul, one of the remotest areas in Korea. The automated brewing facilities occupy 990 square meters and focus on the mass production of sterilized makgeolli. The brewery targets international markets and some parts of the US, Europe, and Southeast Asia.

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

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About the Spherical Insights & Consulting

Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.

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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