Asia Loves Tequila
on 01/09/11 at 10:00 amIndustry
International connoisseurs now sip it like a fine cognac or single malt scotch - and pay similar tabs for the privilege. globally, during the recession, premium tequila sales soared, even the crisis-ridden US rising by 28% from 2009 to 2010. In some markets the growth is almost unbelievable – for example 76.7% in Canada and 46% in Russia. Interestingly, Cuervo’s Mark Bayardo points “in the Russian market, women on the whole drink three times more tequila than men.” They are looking for a chic, exotic drink that’s not vodka.
It is not surprising that most tequila companies have their sights set on Asia. They have been selling in Japan and Korea for a long time and are working on India and China. Salvador Alvarez, managing director for Casa Herradura, points out that the US accounts for 50% of the global market for tequila and Mexico for 35%, which leaves only 15% for the rest of the world.