HiteJinro Leads Growth in Beer Sector with Terra as Flagship Brand

12% Overall Increase in Beer Sales, Over 23% Growth in Home Market
Terra Grows Over 78% in Entertainment Market, Over 120% in Home Market
Terra's Trend Expands from Seoul Metropolitan Entertainment Districts to Home Market and Regional Entertainment Areas

[Asia Economy Reporter Lim Hye-seon] HiteJinro continues its growth in the beer sector, led by Terra.

HiteJinro announced on the 12th that its total beer sales last year increased by 12% compared to the previous year, with Terra sales rising by more than 105%, driving overall growth. Despite the significant contraction of the liquor market due to the impact of COVID-19, HiteJinro showed overall growth, including more than 23% growth in the home market.

Sales in the entertainment market, which was directly affected by social distancing and operating hour restrictions due to COVID-19, declined by about 4% as the overall market size shrank. However, sales of major entertainment products, such as the 500ml entertainment medium bottle, increased by approximately 25% compared to the previous year.

Among these, Terra is evaluated to have firmly established its presence despite the difficult entertainment market conditions. Sales increased by 78% compared to 2019. Sales growth is noticeable not only in the metropolitan area and key commercial districts but also in regional markets. Based on Terra’s 500ml entertainment medium bottle, the Gangwon and Chungcheong regions grew by 87.9% compared to the previous year, and regions such as Busan and Ulsan also recorded a growth rate of 85.2%.

The home market also saw sales increase by more than 23%, supported by the spread of home drinking culture. Terra, which recorded a 120% growth rate, expanded its trend in the home market. Considering the fierce competition with various types of alcoholic beverages and brands such as imported beer and wine in the home market, this is an even more valuable achievement. Market share also maintained its growth trend, contrasting with the continuous decline of competing brands.

Kim In-kyu, CEO of HiteJinro, said, "Despite everyone facing difficulties due to the variable of COVID-19 last year, the entire beer sector grew led by Terra, and we are focusing on the meaningful growth of Terra with over 78% growth in the entertainment market and over 120% in the home market." He added, "Riding the momentum of rapid expansion from the metropolitan and major commercial districts to regional markets and the home market, we will reclaim the number one position in the beer market this year, starting with market recovery."

This content was produced with the assistance of AI translation services.