Imported wine market in Korea 🍷
Korea’s wine imports hit an all-time high (US$580 million) in 2022. Although volume decreased somewhat, imports of high-priced products expanded, driving up the import value to a new high.
According to the Korea Customs system, Korea imported US$581.27 million worth of wine in 2022, up 3.83 percent from the previous year. The amount of wine imports fell by 7.25 percent from 76,515 million liters to 71,020 million liters, but imports of premium wines increased.
Between 2019 and 2022, wine imports increased by 123% in value and 61% in volume.
As a reminder, Korea’s wine imports rose from US$260 million in 2019 to US$330 million in 2020 and crossed US$500 million in 2021.
France is Korea's leading wine supplier (in value) with US$130.3 million in 2022. While Chile has consolidated its position as the leading wine supplier in volume (since 2017) with around 15 million liters in 2022.
TOP 5 WINE SUPPLIERS IN VALUE IN 2022:
France : US$130.3 million
USA : 74M EUR US$95.86 million
Italy : 66M EUR US$71.17 million
Chile : 62M EUR US$65.11 million
Australia : US$29.67 million
Spain (who reached US$32.5 million in 2021) has been ejected from the fifth place by Australia.
TOP 5 WINE SUPPLIERS IN VOLUME IN 2022 (in million kilograms):
Chile : 14.29
France : 12.75
Italy : 12.17
Spain : 12.16
USA : 7.51
Bonus 6th place, Australia: 5.06
"What is the market share of each type of imported wine (color) in South Korea ? What are the trends ?"
MARKET SHARE OF EACH WINE CATEGORY in 2021:
Red wines : 66%
White wines : 22%
Rosé wines : 2%
Sparkling wines : 10%
The demand for red wines remain stable while white wines increased consistently their market share (+22% since 2019). Imported sparkling wines reached the same level in 2021 than in 2020 which is not a good reference, however, rosé wines got the best momentum (+100% since 2020) !
In the next article we will look at the French wine offer to analyze the sales performance of each wine region in Korea.
출처 / source : Businesskorea(https://www.businesskorea.co.kr)