India Premium Tequila Market Size By Type (Blanco, Reposado), By Application (Offline Sales, Online Sales)

India Premium Tequila Market Size And Forecast

India Premium Tequila Market size was valued at USD 3.29 Million in 2023 and is projected to reach USD 5.83 Million by 2031, growing at a CAGR of 7.45% from 2024 to 2031.

Growing demand for unique and premium drinking experience among indian consumers and rising urbanization and cosmopolitan lifestyle are the factors driving market growth. The India Premium Tequila Market report provides a holistic market evaluation. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

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India Premium Tequila Market Analysis

Premium tequila is a high-quality distilled spirit made from 100% blue agave, predominantly cultivated in the region of Jalisco, Mexico. It stands out for its meticulous production process, which includes traditional methods such as slow-cooking the agave in brick ovens and using a tahona (a large stone wheel) to crush the agave. This attention to detail in production results in a spirit with complex flavors and superior smoothness. Premium tequilas are categorized based on their aging process: Blanco, which is unaged or aged for less than two months and offers a pure, crisp agave flavor; Reposado, aged for at least two months but less than a year, presenting a balance of agave and subtle oak notes; Añejo, aged for one to three years, delivering rich, complex flavors of oak, vanilla, and spices; and Extra Añejo, aged for more than three years, known for its deep, sophisticated profile akin to fine aged cognacs. This segment also includes Joven or gold tequilas, which are blends of Blanco and aged tequilas, offering a nuanced taste that appeals to a broad range of consumers.

In recent years, the demand for premium tequila in India has experienced a notable surge driven by several key factors. First and foremost is the evolving palate of Indian consumers, increasingly exposed to global culinary trends and premium alcoholic beverages. As disposable incomes rise among the middle and upper classes, there is a growing willingness to explore and invest in high-quality spirits, positioning premium tequila as a desirable choice. Furthermore, a shift towards healthier and more sophisticated drinking habits has propelled tequila into the spotlight. Unlike traditional perceptions of tequila as a harsh shot, premium varieties are often crafted with higher quality agave and refined production processes, offering smoother flavors and textures that appeal to discerning drinkers seeking a more refined drinking experience. The rise of mixology and cocktail culture in urban centers across India has also played a pivotal role. Bartenders and enthusiasts are increasingly experimenting with tequila-based cocktails, leveraging their versatility and unique flavor profiles to create innovative drinks that cater to diverse tastes.

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India Premium Tequila Market Overview

The India Premium Tequila Market is witnessing significant growth during the forecasted period owing to factors such as growing demand for unique and premium drinking experiences among Indian consumers, rising urbanization, and cosmopolitan lifestyle, and others. The premium tequila market is driven mainly by Indian customers increasingly seeking distinctive and high-end drinking experiences. More consumers prioritize exclusivity and quality when selecting beverages, indicating the trend toward high-quality and distinctive items. Premium tequila fits these requirements and is popular because of its refined production method and distinctive flavor.

For instance, in May 2024, Kendall Jenner’s luxury tequila brand, 818 Tequila, made its official debut in India. Berry Beverages and Zoup Beverages import and distribute it in India. The tequila is already accessible in the Delhi NCR area and will continue to expand throughout India. It is renowned for its smooth taste, sustainable production methods, and workmanship. Social media and celebrity endorsements have significantly impacted customers’ tastes for premium tequila.

India’s rapid urbanization and cosmopolitan lifestyle have had a tremendous impact on the premium tequila market. The population has grown as more people relocate to cities, constricting the market for upscale products and services. Urban areas typically have higher income levels, better work opportunities, and wealthier consumer bases. Exposure to cosmopolitan lifestyles that come with urbanization significantly impacts consumer choices and behaviors. Urban inhabitants are inclined to embrace worldwide consumer tendencies and fads, yearning for refined and cosmopolitan experiences.

Moreover, the expansion of retail channels, and others, presents significant opportunities for the Indian market. The premium tequila market in India has abundant opportunities due to the quick rise of e-commerce platforms. More people are flocking to e-commerce sites to buy alcoholic beverages due to rising internet penetration and the ease of online buying. Premium tequila companies can now reach a larger audience because of this development, including people who live in areas where traditional retail stores might not be as familiar. Premium tequila can also be effectively marketed and distributed through online sales platforms, giving comprehensive product details and user reviews that sway purchase decisions.

However, factors such as higher demand for other alcoholic beverages hamper the market’s growth during the forecasted period. The Indian market for premium tequila is significantly hampered in its expansion by the country’s strong preference for traditional spirits such as rum, brandy, and whisky. Whisky continues to be the most popular spirit among all the spirits consumed. The well-established inclination poses a significant obstacle for high-end tequila companies seeking to enter the market.

India Premium Tequila Market Segmentation Analysis

The India Premium Tequila Market is segmented based on Type and Application.

India Premium Tequila Market, By Type

• Blanco
• Reposado
• Joven
• Anejo
• Others

Based on Type, the market is segmented into Blanco, Reposado, Joven, Anejo, and Others. The Blanco segment holds the largest market share of 39.91% in 2023 and is projected to grow with the highest CAGR of 8.15% during the forecast period. In its purest form, tequila is called Blanco, sometimes referred to as silver or Plata. Blanco tequila captures the genuine spirit of the blue agave plant, whether it is aged for one to two months or not at all. This is the best option for tequila individuals who value the spirit’s original flavor because of its robust, pure agave flavor and clear hue. With its strong flavor coming through in drinks, including the traditional margarita, Blanco tequila is ideal. Silver, also called Blanco Tequila, is the lightest-colored member of the Tequila family and is a clear, clean spirit with a crisp flavor. Blanco Tequila is often manufactured entirely of agave, which is first fermented, crushed, and then roasted. It is then short-rested in stainless steel barrels for fewer than 60 days before bottling. One of the cleanest spirits available is Blanco. It is possible as a result of the fact that no additional tastes are added while it matures, allowing it to maintain its distinctive agave tones.

India Premium Tequila Market, By Application

• Offline Sales
• Online Sales

Based on Application, the market is segmented into Offline Sales and Online Sales. The Offline Sales segment accounted for the largest market share of 76.85% in 2023 and is expected to grow with a CAGR of 6.92% during the forecasted period. The premium spirits market in India, including tequila, has been growing steadily due to increasing disposable incomes, evolving consumer tastes, and a growing interest in international spirits. Offline sales typically refer to sales conducted through traditional retail outlets such as liquor stores, supermarkets, bars, and restaurants. For premium tequilas, including those aimed at the Indian market, distribution strategies may focus on establishing relationships with high-end retailers and wholesalers. Understanding the target demographics for premium tequila in India is crucial. This may include affluent urban consumers, younger demographics influenced by global drinking trends, and those seeking unique and premium drinking experiences. Offline sales allow consumers to physically experience and interact with the product. Premium Tequila brands often invest in attractive packaging, enhancing the allure when seen on shelves or in stores. This tactile engagement can spark interest and encourage purchase.

Key Players

The major players in the market include Jose Cuervo. Diageo (Don Julio), Bacardi (Patron Tequila), Brown-Forman Corporation (Herradura), Pernod Ricard (Codigo 1530), and Others. This section provides a company overview, ranking analysis, company regional and industry footprint, and ACE Matrix.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis.

Key Developments:

• In March 2024, Diageo announced its first experience with Apple Vision Pro to bring tequila culture to fans around the world.
• In April 2022, Jose Cuervo announced the launch of its first-ever New Ultra-Premium Cristalino Tequila. Cuervo had stepped into the growing market for Cristalino with the launch of an oak-aged, filtered Tequila from its Jose Cuervo brand.
• In March 2022, Diageo announced it had acquired 21Seeds, a rapidly growing flavored tequila infused with the juice of real fruits. The brand is available in three varieties: Valencia Orange, Grapefruit Hibiscus, and Cucumber Jalapeño.

Ace Matrix Analysis

The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.

Market Attractiveness

The image of market attractiveness provided would further help to get information about the segment that is majorly leading in the India Premium Tequila Market. We cover the major impacting factors that are responsible for driving the industry growth in the given segment.

Porter’s Five Forces

The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. Porter’s five forces model can be used to assess the competitive landscape in the India Premium Tequila Market, gauge the attractiveness of a certain sector, and assess investment possibilities.

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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors.
• Provision of market value (USD Billion) data for each segment and sub-segment.
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• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled.
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• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis.
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