KEY FINDINGS
The Asia-Pacific tequila market is anticipated to grow with a CAGR of 4.59% during the projected years of 2021 to 2028. Key factors like the increased market potential for alcohol and spirits, the surging population, the rising e-commerce, and the growing adoption of western culture are evaluated to facilitate the region’s market growth.
MARKET INSIGHTS
The Asia-Pacific tequila market growth analysis includes the study of South Korea, Indonesia, Thailand, India, China, Australia & New Zealand, Vietnam, Japan, and the rest of the Asia-Pacific. Tequila is a minor but augmenting market in India. Although the domestic consumption of tequila has continued to grow on account of the increasing popularity of cocktails, it has witnessed a rising trend towards intake through ‘shots’ — primarily at youth parties and nightclubs. Furthermore, Indian consumers are beginning to appreciate tequila, gin, and vodka. Millennials perceive them as refreshing drinks to be consumed with tonic water and juice rather than carbonated beverages.
On the other hand, South Korea is the “most attractive” market across the Asia-Pacific in terms of alcohol manufacturers. The country is also the 10th largest spirits market worldwide. Patrón Tequila signed an agreement with SBK, a liquor distributor in South Korea, and thus introduced Patrón tequila as well as Pyrat rum in the South Korean market space. In addition, the country’s millennials primarily consume foreign beers, soju, tequila, and vodka, especially in modern clubs and bars. As a result, these factors are set to play a crucial role in fueling the Asia-Pacific tequila market growth during the forecasted period.
COMPETITIVE INSIGHTS
Some of the major firms operating in the market are Bacardi Limited (Patron), Beam Suntory, Asahi Group Holdings, Diageo PLC, etc.
Our report offerings include:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation cater to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments