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Energy drink sales soar 50% in Korea on highball boom

Collected: 2023.06.16

Distributed: 2023.06.17

Source: Go Direct

Lotte Chilsung Beverage Co.’s HOT6ix [Photo by Lee Seung-hwan]

Sales of energy drinks have surged by more than 50 percent in South Korea in the past two years as highballs gain traction among young consumers.

According to market research firm Euromonitor International on Thursday, energy drink sales in Korea reached 157.5 billion won ($124.2 million) last year, up 18 percent from the previous year’s 133.1 billion won. Sales surged 52 percent from 103.5 billion won in 2020.

Energy drinks have topped the sales ranking in major open markets such as 11Street Co. this year.

Energy drinks, which contain a mix of taurine, caffeine, vitamin B, and carbonation, have gained popularity in North America and Europe since their launch in 2000. They were introduced in Korea in 2011 and became popular among students as an essential drink during exam period.

Industry insiders note that energy drinks have entered the second phase of growth in Korea with the growing popularity of highballs, a mixed alcoholic drink composed of an alcoholic base spirit such as whiskey and a larger proportion of energy drinks or fruit juices.

Monster Energy, Korea’s No. 1 energy drink, has retained a market share of about 50 percent since 2020. It was originally a product of Monster Beverage Corp. under Coca-Cola Co. in the U.S. but the drink is being produced and sold by LG Life Sciences Ltd. through a subsidiary in the Korean market.

Other bestselling products are HOT6ix of Lotte Chilsung Beverage Co. and Red Bull of Dong Suh Co.

“The main consumer base of energy drinks, which was limited to students, has been expanded to office workers in their 30s and 40s,” said an unnamed official from the food industry.

By Choi Jae-won and Choi Jieun

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