South Korea Tequila Market Research Report, 2028

Tequila is known for its unique flavor profile and is often consumed as shots or used as a base in cocktails like margaritas. In South Korea, the demand for tequila has been driven by a combination of factors, including increased exposure to Western culture, the rise of cocktail bars and mixology, and the growing interest in premium spirits among consumers. As a result, more South Koreans have been exploring and embracing tequila as part of their drinking culture. While the exact market size and statistics may vary, there has been a noticeable increase in the availability of tequila brands in South Korea. Both domestic and international tequila producers have been expanding their presence in the market, offering a wide range of tequila options to consumers. South Korea has its own drinking culture, and the consumption patterns and preferences can differ from other countries. Soju, a traditional Korean distilled liquor, is the dominant alcoholic beverage in the country. However, the growing popularity of tequila represents a shift in consumer tastes and a willingness to explore different spirits. South Korea has witnessed a rise in cocktail bars and mixology culture in recent years. This trend has contributed to the growing demand for tequila as a key ingredient in cocktails, particularly in popular drinks like margaritas. As a result, the tequila market has benefited from the creative and innovative cocktail scene in the country. Tequila brands entering the South Korean market have recognized the importance of marketing and education to raise awareness and understanding among consumers. Brands have been actively engaging in promotional activities, collaborating with local bars and restaurants, and hosting events to showcase the versatility and unique qualities of tequila. These efforts have helped shape the perception and reception of tequila in the market. According to the research report "South Korea Tequila Market Research Report, 2028," published by Actual Market Research, The South Korea Tequila market is expected to grow at above 6.79% CAGR from 2023 to 2028. Government regulations related to alcohol in South Korea and how it may impact the tequila market. Includes Alcohol Regulations, Importation and Distribution, Marketing and Promotion. Regarding events, it is common for alcoholic beverage brands, including tequila, to participate in various trade shows, exhibitions, and promotional events in South Korea. These events provide opportunities for brands to showcase their products, engage with consumers and industry professionals, and create brand awareness. The different types of tequila you can find in the South Korean tequila market. Blanco tequila, also known as silver or white tequila, is unaged or aged for a short period (up to two months) in stainless steel or neutral oak barrels. It has a clear appearance and a fresh, agave-forward flavour profile. Reposado tequila is aged in oak barrels for a minimum of two months but less than a year. The aging process gives it a smooth and mellow character, with subtle notes of oak and a light golden hue. Añejo tequila is aged in oak barrels for a minimum of one year but less than three years. The extended aging imparts rich flavours and aromas, including vanilla, caramel, and spice. Añejo tequila has a darker amber colour and a complex taste profile. In addition to Blanco, reposado, and añejo, there are other types of tequila that you may find in the South Korean market. These include extra añejo tequila (aged for over three years), joven or gold tequila (Blanco tequila blended with aged tequila or additives), and flavoured tequilas that incorporate natural or artificial flavours. Some popular brands of Blanco tequila available in South Korea include Jose Cuervo Especial, Patrón Silver, Don Julio Blanco, Cazadores Blanco, Sauza Hornitos Plata. Leading reposado tequila brands in South Korea include Herradura Reposado, El Jimador Reposado, Espolòn Reposado, Milagro Reposado, 1800 Reposado, etc.

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The tequila market in South Korea can be categorized into different grades based on price and quality. Includes Value Tequila, Premium Tequila, High-End Premium Tequila, Super Premium Tequila. South Korean consumers have shown a preference for premium and high-quality products across various industries, including alcohol. This trend has also influenced the tequila market, with consumers seeking out premium tequilas made from 100% blue agave and aged variants. This emphasis on quality and craftsmanship has shaped the offerings available in the market. The tequila market in South Korea can be categorized based on distribution channels, namely off-trade and on-trade. The off-trade distribution channel refers to the retail sales of tequila that occur outside of licensed establishments such as bars and restaurants. It includes sales through supermarkets, liquor stores, convenience stores, and online platforms. Off-trade channels allow consumers to purchase tequila for consumption at home or for private events. Consumers have the opportunity to explore different brands and varieties of tequila in a retail setting and make their selection based on personal preferences. It is a convenient channel for consumers who prefer to buy tequila for home consumption or as gifts. The on-trade distribution channel refers to the sales of tequila that take place in licensed establishments, including bars, restaurants, clubs, and hotels. In the on-trade channel, consumers have the option to enjoy tequila as part of their dining or drinking experience at these venues. This channel often provides a wider range of tequila options, including premium and super premium brands, and may offer specialized tequila menus or cocktails crafted by mixologists. On-trade establishments play a crucial role in introducing consumers to different tequila brands and educating them about the various styles and flavors available. Considered in this report • Geography: South Korea • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report • South Korea Tequila market with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation

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By Type • Blanco • Reposado • Anejo • Others By Grade

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• 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 Tequila 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.