MZ Generation Intoxicated by Spirits... 1Q Whiskey Import Value Surpasses 50 Million Dollars

[Asia Economy Reporter Eunmo Koo] With the rise of home drinking among the MZ generation (Millennials + Generation Z) since COVID-19, the popularity of whiskey has continued this year, pushing whiskey import value to surpass 50 million dollars for the first time in the first quarter.

According to the Korea Customs Service export-import trade statistics on the 28th, whiskey import value in the first quarter of this year was $52.193 million (approximately 65.4 billion KRW), marking a 61.7% increase compared to the same period last year. Domestic whiskey imports, which were around $22.65 million in the first quarter of 2020, rose by more than 40% to $32.27 million in the first quarter of last year, and continued to increase this year, exceeding $50 million. The import volume also grew from 3,246 tons in the first quarter of last year to 4,737 tons, a 45.9% increase.

By country of import, the United Kingdom, including Scotland, was overwhelmingly dominant. The UK's import value was $45.215 million (approximately 5.67 billion KRW), a 58.0% increase from a year earlier, accounting for 86.6% of the total import value. Following were the United States ($3.662 million), Japan ($1.239 million), and Ireland ($651,000).

The rising trend in whiskey import value is attributed to the expansion of ‘home drinking’ and ‘solo drinking’ trends after COVID-19, which increased the whiskey consumer base. Recently, there has been growing demand among younger generations for a variety of products differentiated by distillery and aging cask within whiskey. An industry insider explained, "In the past, blended whiskey, which was easy to access and drink, was popular, but increasingly more people are seeking diverse and distinctive whiskeys such as single malt and bourbon." Additionally, the previously limited whiskey information has expanded through platforms like YouTube and Instagram, improving accessibility to information and influencing the growth in whiskey demand.

Sales are also continuing to rise. According to Emart, whiskey sales in the first quarter of this year increased by 37% compared to the same period last year. An Emart representative explained, “Whiskey fits well with the home drinking trend as it can be enjoyed lightly with one or two glasses and stored for later consumption. Moreover, cocktail liquors mixed with whiskey are gaining popularity mainly among the MZ generation, further increasing demand.”

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