- The key vendors in the Tequila Market in the APAC Region 2015-2019 are Brown Forman, Diageo plc, Jose Cuervo and Sauza Tequila.
London, 31 December 2014: TechNavio, an independent tech-focused global research firm, has announced the publication of its market research report on the Tequila Market in the APAC Region 2015-2019. 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. The Tequila market in the APAC region, in terms of revenue and volume, is expected to grow at a CAGR of 14.08 percent and 11.59 percent, respectively, during the forecast period of 2014-2019.
Demand for tequila is increasing because of its taste and because of the increase in disposable income in the region. In addition, curiosity among consumers about the salt and lime flavors that complement the flavors of tequila is also attracting many consumers. Tequila is in great demand, especially for the preparation of cocktails in bars and restaurants. In addition, the youth market prefers cocktails made from imported liquors such as vodka and tequila.
“Manufacturers are employing various innovative promotional and marketing strategies to increase the sales of tequila in the APAC region,” says Faisal Ghaus, Vice President of TechNavio Research.
“Recently, various trade pacts have been signed between governments to promote tequila and increase its sales in the APAC region.”
To define the market conditions in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
