Asia-Pacific Tequila Market Outlook, 2028

Asia-Pacific Tequila Market Outlook, 2028

Tequila, a distilled alcoholic beverage made primarily from the blue agave plant, has gained popularity in the Asia-Pacific region. While tequila consumption has traditionally been associated with countries like Mexico and the United States, its demand has been steadily growing in Asia-Pacific due to changing consumer preferences and increased awareness of the spirit. Factors such as rising disposable incomes, urbanization, expanding middle-class population, and changing drinking habits have contributed to the increased demand for tequila in countries like China, Japan, South Korea, Australia, and India. Tequila consumption in the Asia-Pacific region is often associated with the young and affluent population who are willing to explore premium and craft spirits. The popularity of tequila-based cocktails, such as Margaritas and Tequila Sun rises, has also contributed to its growth. Additionally, the perception of tequila as a high-quality and sophisticated spirit has attracted consumers looking for unique drinking experiences. Government regulations and import duties can vary across countries in the Asia-Pacific region, which can impact the availability and pricing of tequila. Import restrictions and high taxes may hinder the growth of the market in some countries, while more favorable policies can encourage imports and boost market growth in others. The Asia-Pacific region is known for its diverse cultures, and this diversity reflects in the tequila market as well. Different countries in the region have distinct drinking cultures and preferences, which influence the way tequila is consumed. For example, in Japan, tequila is often enjoyed straight or on the rocks, emphasizing its quality and craftsmanship. In contrast, countries like China and South Korea have a growing trend of tequila consumption in cocktails and mixed drinks.

According to the research report, “Asia Pacific Tequila Market Outlook, 2028” published by Bonafide Research, The Asia Pacific Tequila market is expected to grow with 8.03 %CAGR by 2023-28, The Asia-Pacific tequila market has some unique characteristics that set it apart from other regions. A few notable aspects are Cultural Diversity, Rising Popularity of Premium Tequila, Cocktail Culture and Innovation, Growing Awareness and Education, Local Craft Tequila Production. Government regulations and import policies can significantly impact the tequila market in the Asia-Pacific region. Governments regulate the importation, distribution, and sale of alcoholic beverages, including tequila, through licensing, labeling requirements, and taxation. Government engagement is crucial in establishing favorable trade policies, reducing trade barriers, and ensuring a fair and competitive market for tequila producers and importers. the Asia-Pacific region does have a growing market for tequila, and various types of tequila are available in this market. The types of tequila commonly found in the Asia-Pacific region include Blanco, Reposado, Añejo. Apart from the traditional categories of blanco, reposado, and añejo, there may be other variations or specialty tequilas available in the Asia-Pacific market. These could include extra añejo (aged for more than three years), joven (a blend of blanco and aged tequila), or flavored tequilas infused with ingredients like fruits or spices. The well-known tequila brands that have established a presence in the Asia-Pacific market are Patrón, Don Julio, Jose Cuervo, Sauza, Olmeca Altos, etc.

Some information about Tequilla market of Asia-Pacific by each country. Japan has a growing tequila market, driven by a rising interest in premium spirits and Mexican cuisine. Tequila consumption has been on the rise, particularly among younger consumers who appreciate the craftsmanship and quality of tequila. The market is influenced by Japan's cocktail culture, with tequila-based cocktails gaining popularity. Major tequila brands, such as Patrón and Don Julio, have established a presence in the Japanese market. South Korea has experienced significant growth in its tequila market in recent years. The popularity of Mexican cuisine and Western spirits has contributed to the rising demand for tequila. Tequila consumption in South Korea is driven by the younger generation and the country's vibrant nightlife and bar scene. Premium and aged tequilas are gaining popularity, and there is an increasing interest in tequila-based cocktails. Australia has a well-established and diverse tequila market, with a wide range of brands and types available. Tequila consumption has been on the rise, driven by the country's growing appreciation for premium and craft spirits. Australia has a thriving cocktail culture and a strong presence of bars and restaurants specializing in mixology, contributing to tequila's popularity. Tequila festivals and events are organized in Australia to celebrate the spirit. China's tequila market has been developing in recent years, influenced by changing consumer preferences and increased exposure to Western spirits. Tequila is gaining recognition as a premium and sophisticated choice among Chinese consumers. The market is primarily concentrated in major cities and urban areas, where bars and clubs cater to a more affluent and cosmopolitan consumer base. Major tequila brands are making efforts to establish their presence in the Chinese market.

The consumption of different tequila grades in the Asia-Pacific region can vary depending on factors such as consumer preferences, market maturity, and affordability. The tequila grades consumed in the Asia-Pacific tequila market Value and Premium Grades, High-End Premium and Super Premium Grades. In more mature markets like Japan and Australia, there is a growing appreciation for premium and high-end tequilas. In emerging markets like China and India, the consumption of value and premium grades may be more dominant due to factors such as affordability and accessibility. The distribution of tequila in the Asia-Pacific region can be categorized into two main channels: off-trade and on-trade. These channels represent the different ways in which tequila is sold and consumed. The off-trade distribution channel refers to the sale of tequila through retail outlets such as supermarkets, liquor stores, convenience stores, and online platforms. Consumers purchase tequila bottles from these retail locations for consumption at home or other private settings. Off-trade distribution is typically associated with packaged tequila products that are ready for retail sale. This channel allows consumers to choose from a wide range of tequila brands, types, and price points. Off-trade distribution is often influenced by factors such as brand visibility, marketing efforts, and consumer preferences. The on-trade distribution channel encompasses establishments where tequila is consumed on-site, such as bars, restaurants, clubs, and hotels. In the on-trade channel, consumers order tequila-based drinks or shots directly from the establishment's menu or bar. This channel offers an experiential aspect, allowing consumers to explore different tequila brands and cocktail variations. On-trade distribution is influenced by factors such as the quality of the tequila selection, mixology expertise, and ambiance of the establishment. Some markets may have a more established on-trade sector, with a vibrant cocktail culture and a strong presence of bars and restaurants. In other markets, off-trade distribution might dominate due to factors such as convenience, pricing, or cultural preferences.

Considered in this report

• Geography: Asia-Pacific
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report

• Asia-Pacific Tequila Market with its value and forecast along with its segments
• Country-wise Tequila Market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Countries covered in the report:
• China
• Japan
• India
• Australia
• South Korea

By Type

• Blanco
• Reposado
• Anejo
• Others

By Grade

• Value
• Premium
• High - End Premium
• Super Premium

By Distribution Channel

• Off-Trade
• On-Trade

By off-trade Distribution Channel

• Supermarkets and Hypermarkets
• Discount Stores
• Online Stores
• Others

By On-trade Distribution Channel

• Restaurants and Bars
• Liquor Stores
• Others

The approach of the report

This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we have started verifying the details obtained from secondary sources.

Intended audience

This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Artificial Lawn industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.***Please Note: It will take 48 hours (2 Business days) for delivery of the report upon order confirmation.