Tequila Market in the APAC Region 2015-2019
Tequila is an alcoholic beverage that is produced from blue agave plants. People have mixed perceptions about tequila, but its acceptance is expected to increase during the forecast period. Manufacturers are coming up with innovative ideas and packaging techniques to spread awareness about tequila. This will help increase the sales of tequila during the forecast period. Tequila is gaining popularity and has good potential for growth in the APAC region during the forecast period.
TechNavio's analysts forecast the Tequila market in the APAC region to grow at a CAGR of 14.08 percent and 11.59 percent in terms of revenue and volume, respectively, over the period 2014-2019.
Covered in this Report
TechNavio's report, Tequila Market in the APAC Region 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the leading countries of the APAC region; it also covers the Tequila market landscape in the APAC region and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.
TechNavio Announces the Publication of its Research Report – Tequila Market in the APAC Region 2015-2019
TechNavio recognizes the following companies as the key players in the Tequila Market in the APAC Region: Brown Forman, Diageo plc, Jose Cuervo and Sauza Tequila.
Other Prominent Vendors in the market are: Camino Real distillery, Cia Tequilera Los Valores, Coralejo Tiple Distilato, Destilados Ole, Hacienda La Capilla, Pernod Ricard, Proximo Spirits, Sierra Tequila, Tequila Cazadores and Tequila Quiote
Commenting on the report, an analyst from TechNavio’s team said: “One major trend emerging in this market is premiumization of alcoholic drinks. It is estimated that the APAC region is the fastest growing region for premium alcoholic drinks. This increased preference for premium liquors is driving the demand for tequila in the APAC region owing to the change in consumer preference.”
According to the report, one of the major factors contributing toward the growth of the Tequila market in the APAC region is the rise in demand for tequila. Demand for tequila is increasing because of its taste and because of the increase in disposable income in the region. Moreover, curiosity among consumers about the salt and lime flavors that complement the flavors of tequila is also attracting many consumers.
Further, the report states that one key challenge in the market is the rise in the price of raw materials coupled with limited supplies, which poses a threat to the growth of the market. The region is highly dependent on imports, as tequila is manufactured from the blue agave plant found in Mexico.About Tequila, Brown Forman, Diageo, Jose Cuervo, Sauza Tequila , Camino Real distillery, Cia Tequilera Los Valores, Coralejo Tiple Distilato, Destilados Ole, Hacienda La Capilla, Olmeca Tequila , Pernod Ricard, Proximo Spirits, Sierra Tequila, Tequila Cazadores, Tequila Quiote
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook