North America Soju Market
Report Highlights
North America Soju Market By Type, By Application, By Geographic Scope And Forecast
According to Verified Market Research, The North America Soju Market was valued at USD 207.38 Million in 2018 and is projected to reach USD 361.10 Million by 2026, growing at a CAGR of 7.32% from 2019 to 2026.
Soju is a colorless and clear beverage that originated in Korea. This drink is distilled, vodka-like, rice liquor with high potency and often flavored similarly. It is smooth and clean in taste, which makes it easy to drink in combination with various Korean dishes. Soju is known as the best-selling liquor in the world and its volume, and sales have only been growing in recent years. It is most basic, a clear, and comprises of 20-24 % alcohol by volume spirit. This drink is traditionally consumed straight with food, but in some cases, it is also mixed into cocktails. Regardless of the worldwide sales numbers of soju, the spirit isn’t well known in the United States. With the increasing popularity of Korean food, however, that’s starting to change. Restaurants in the United States are selling soju as a distilled spirit that doesn’t follow the rules of a distilled spirit, and it can be served with the same license as a beer and wine license.
In recent times, the popularity of alcoholic beverages is growing owing to increased accessibility and affordable cost. The drinking culture in the United States is an important part of life. Alcohol consumption has been widely accepted in the United States not daily but on weekends, holidays, big sports games and other special occasions. With the rise of Korean food, the popularity of Soju is expected to bloom in United States. Soju is adapted with different flavorings in this country. The growing popularity of Soju drinks is anticipated to boost the growth of the market.
However, the consumer preference for other alternative alcohol beverages can act as a potential restraint for the North America Soju Market in the forecast period.
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