The sparkling wine market in South Korea
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Nota Informativa - El mercat d'escumosos a Corea del Sud
10.17.23
I want to export products to South Korea. Where do I start?
The Korean food and beverage sector is especially interesting for Catalan companies, which are exporting there more and more: over the last 10 years exports to South Korea have grown by over 300% in value and 150% in volume.
South Korea's sparkling wine market has grown notably, peaking in 2023 in both import volume and value. Spanish cava is the third most popular sparkling wine in the country, behind France and Italy. This growth is attributed to the low barrier to entry and to changing Korean consumer tastes, which see sparkling wines as a refreshing, accessible option.
Despite the general slowdown in the wine market, sparkling wine imports topped USD 100 million for the first time in 2023, up 6.8% on the previous year. Korean consumers are developing a more sophisticated palate, which has pushed up the average purchase price of these drinks.
Although French champagne dominates the market, there is a growing opportunity to position Catalan cavas as high-end products. Importers and distributors are advised to focus their strategies on highlighting cava's quality and exclusivity in order to attract a more discerning audience.
As the market shifts towards higher price segments, it is crucial that Catalan cavas are perceived as premium options in order to compete effectively. Recent initiatives such as the launch of VIVID Cava Brut and Juvé & Camps in South Korea aim to consolidate cava's presence in this dynamic market.
In short, the outlook for South Korea's sparkling wine market is promising, but a strategic approach is needed to maximise Catalan cavas' market share.
If you would like to know about other commercial activities PRODECA runs in South Korea, you can write to Maria Pla at mariapla@gencat.cat.
12.17.20
Prodeca brings together Catalan food companies with importers from Korea and Taiwan
Prodeca has organized the first Online B2B Focus On Korea & Taiwan, two key markets for the Catalan agri-food sector. A dozen Catalan food and beverage companies have partnered with Korean and Taiwanese importers.
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