Soju Market Report: USD 7.1 Bn by 2034 at 4.7% CAGR

Overview

New York, NY – July 31, 2025 – The Global Soju Market is projected to grow from USD 4.5 billion in 2024 to USD 7.1 billion by 2034, with a CAGR of 4.7% during the 2025–2034 forecast period. In 2024, the Asia-Pacific region led the market, commanding a 59.6% share and generating USD 2.6 billion in revenue.

Soju, a traditional Korean distilled spirit, has transformed from a regional drink to a global phenomenon over the past century. Originally made from rice, production shifted to alternative starches like sweet potatoes and tapioca in the 1960s due to rice shortages, as mandated by the South Korean government. This period also saw industry consolidation through regional monopolies to optimize production and distribution. By the late 20th century, market deregulation fostered competition, with HiteJinro capturing over 50% of South Korea’s soju market.

In 2023, South Korea’s Hotel, Restaurant, and Institutional (HRI) sector, which includes soju-serving establishments, was valued at USD 147 billion, reflecting an 8.3% year-on-year increase. This growth highlights rising consumer demand for dining and alcoholic beverages, including soju. Notably, Jinro’s soju was the world’s best-selling liquor in 2019, outpacing spirits like vodka and whiskey.

Key drivers of the soju market’s growth include the South Korean government’s “globalization of Korean food” initiative, which supports soju exports through financial and promotional efforts. The introduction of flavored soju variants has also broadened its appeal, particularly among younger consumers.

Government policies have further shaped the industry. South Korea’s Beverage Container Deposit System, for instance, promotes bottle recycling, boosting the recycling rate of soju bottles from 87.9% in 2015 to 97.2% in 2018. This initiative supports environmental sustainability while enhancing production efficiency.

Key Takeaways

• The Soju Market size is expected to be worth around USD 7.1 billion by 2034, from USD 4.5 billion in 2024, growing at a CAGR of 4.7%.
• The Diluted soju held a dominant market position, capturing more than a 63.4% share of the overall soju market.
• The Bottles held a dominant market position in the soju market, capturing more than an 89.3% share.
• The 20–40-year-old age group held a dominant market position in the soju market, capturing more than a 58.7% share.
• The Convenience stores held a dominant market position in the soju market, capturing more than a 38.9% share.
• The Asia Pacific (APAC) region emerged as the leading regional market for soju, capturing a dominant 59.6% share and generating revenues worth approximately USD 2.6 billion.

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Report Scope

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Key Market Segments

By Type Analysis

In 2024, diluted soju dominated the market, accounting for over 63.4% of the total soju market. Its popularity stems from its affordability, accessibility, and lighter alcohol content (16–20%), appealing to both regular and casual drinkers. The availability of diverse flavored variants further attracts younger consumers and female drinkers.

Manufacturers position diluted soju as an everyday beverage, offering it in convenient, smaller bottles suitable for on-the-go and home consumption. In South Korea, where soju is a cultural staple, diluted variants dominate restaurant, convenience store, and liquor outlet shelves. Low production costs enable competitive pricing, making it a top choice in price-sensitive markets.

By Packaging Analysis

In 2024, bottled soju led the market with an 89.3% share, driven by its convenience, traditional appeal, and efficient distribution across retail and hospitality sectors. Glass bottles, deeply tied to soju’s cultural significance in South Korea, offer a familiar experience for consumers.

Established bottling infrastructure ensures cost-effective, high-volume production while maintaining quality. Additionally, bottled soju aligns with sustainability goals, supported by South Korea’s recycling programs, which achieve over 95% bottle return rates. This eco-friendly aspect enhances consumer trust and brand loyalty.

By Age Group Analysis

In 2024, the 20–40 age group dominated the soju market, capturing a 58.7% share. This demographic’s preference for trendy, flavored alcoholic beverages, combined with changing social drinking habits, fuels demand. Soju’s moderate alcohol content, affordability, and presence in social venues like restaurants and pubs resonate with this group.

Brands target young adults with flavored variants, stylish packaging, and social media campaigns. The global rise of Korean pop culture further amplifies soju’s appeal as a lifestyle product, particularly for international consumers in this age range.

By Distribution Channel Analysis

In 2024, convenience stores held a 38.9% share of the soju market, driven by their accessibility, extended hours, and appeal to impulse buyers. Widespread in urban and semi-urban areas, these stores cater to consumers seeking quick, on-the-go purchases.

Younger consumers and professionals favor convenience stores for chilled, ready-to-drink soju in smaller quantities. Strategic store layouts, with alcohol displayed at checkouts or in coolers, encourage spontaneous purchases. Their proximity to residential areas, offices, and transit hubs further boosts sales.

Regional Analysis

Asia-Pacific Leads Global Soju Market with 59.6% Share, Valued at USD 2.6 Billion in 2024. In 2024, the Asia-Pacific region dominated the global soju market, holding a 59.6% share and generating USD 2.6 billion in revenue. South Korea, where soju is a cultural staple, drives this dominance, with over 3.5 billion bottles consumed annually, supported by robust production and distribution networks.

Urbanization, a shift toward lighter and flavored beverages, and the global “K-wave” of Korean pop culture fuel demand in countries like China, Japan, and Vietnam. Younger consumers, drawn to soju’s affordability and lower alcohol content, contribute to steady market growth in the region.

Top Use Cases

• Social Gatherings: Soju is a popular choice for social events, especially among young adults aged 20–40. Its moderate alcohol content and variety of flavors make it ideal for sharing at parties, fostering connections during meals or casual meetups, and enhancing the social vibe in restaurants and bars.
• Cocktail Mixing: Soju’s versatility makes it a favorite for cocktails. Its neutral flavor and lower alcohol content allow bartenders to create innovative drinks, appealing to younger consumers who enjoy experimenting with refreshing, lighter beverages at bars and lounges.
• Cultural Promotion: Soju benefits from the global rise of Korean culture, driven by K-pop and K-dramas. It’s marketed as a cultural product, attracting international consumers curious about Korean cuisine and traditions, especially in regions like North America and Europe.
• Health-Conscious Drinking: With lower alcohol content (16–25% ABV) and fewer calories than many spirits, soju appeals to health-conscious drinkers. Brands offer low-calorie and sugar-free options, catering to consumers seeking lighter, mindful drinking choices.
• Convenience Store Sales: Soju’s affordability and small bottle sizes drive impulse purchases in convenience stores. Its accessibility and chilled, ready-to-drink format make it popular among busy professionals and young consumers in urban areas.

Recent Developments

1. HiteJinro Co., Ltd.

• HiteJinro, the leading soju producer, continues to dominate the market with Jinro Is Back, a premium soju line featuring a higher alcohol content and a smoother taste. The company has also expanded globally, launching in the U.S. and Europe with eco-friendly packaging. Additionally, HiteJinro partnered with BTS for limited-edition soju bottles, boosting brand visibility.

2. Hwayo

• Hwayo focuses on premium soju with its Hwayo 41 and Hwayo 25, made using traditional distillation methods. Recently, the brand gained attention for its luxury soju served in high-end restaurants and bars worldwide. Hwayo has also introduced a sleek, modern bottle design to appeal to younger, affluent consumers.

3. Korea Alcohol Co., Ltd.

• Known for Chum-Churum, Korea Alcohol Co. launched Chum-Churum Saero, a fruit-flavored soju line (peach, grapefruit, and apple). The company is investing in low-calorie and low-sugar options to cater to health-conscious drinkers. They’ve also expanded exports to Southeast Asia.

4. Lotte Chilsung Beverage Co., Ltd.

• Lotte’s Chum-Churum Soonhari remains popular, but the company recently introduced Soonhari Sparkling, a carbonated soju drink. Lotte is also experimenting with RTD (ready-to-drink) canned soju cocktails. Additionally, they’ve enhanced sustainability efforts by reducing plastic in packaging.

5. OB Brewing Co., Ltd.

• OB Brewing, under AB InBev, produces C1 Soju, targeting younger drinkers with trendy marketing campaigns. They recently launched C1 Blue, a lower-alcohol (12%) version, and have been active in digital promotions, including TikTok challenges.

Conclusion

The Soju Market thrives due to its versatility, cultural appeal, and alignment with consumer trends. Its role in social gatherings, cocktail innovation, and Korean culture’s global rise drives demand. Health-conscious options, sustainable practices, and strong online and convenience store sales further fuel growth. Targeting young adults and expanding premium offerings will ensure soju’s continued global success.

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