Tequila Market Research
What is Tequila?
Tequila is a drink made from the blue agave plant. Only Mexico makes tequila, but around eighty percent of consumers are in the USA. People drink tequila on the 5th of May during Cinco de Mayo parties more than any other time of the year.
Many Mexicans refer to the agave plant as “mezcal.” But, they only use Agave Azul (which is a type of mezcal) for making tequila. Over the centuries, people found that the mezcal wine from a town called Tequila was unique. It was smoother and more complex than other mezcal wines. So, they started calling it the mezcal wine of Tequila. Today, we know it as tequila.
Tequila must contain between 38-55 percent alcohol by volume (ABV). Most tequilas have an ABV of forty percent. They don’t have to be a hundred percent blue agave, although the brands that have it can brag about it.
Consumer Tastes
Tequila has four members which all have different tastes. So if you don’t like the taste of tequila, you may not have tasted the right one yet. Blanco, Reposando, Anejo and Extra Anejo are the four types of Tequila.
The bottling of Blanco takes place right after distillation. Sometimes distillers let it rest for up to two months. Respasando must age for at least two months by law. Anejo must age at least 12 months, whereas Extra Anejo for at least three years. The tastes of the four are different because of how long they rest. Many people consider Extra Anejo the best because it rests the longest.
Why is the Tequila Market Important?
Tequila is the natural spirit of Mexico. It has a lot of culture and history behind it.
Tequila also has health benefits. It is healthy for the bones as it helps the body to absorb calcium. In addition, it helps persons who have trouble sleeping, decreases pain, and aids in digestion.
Primary consumers range from 18 to 30 years old, and college students and Mexicans are the main buyers. For tequila industries to profit, they must expand their reach to suit their targeted markets. They can use several methods. For example, better advertising can make tequila more appealing, and new product offerings can help the tequila market to grow and prosper.
What is Alcohol Technology?
Alcohol Technology makes the drinks we love taste even better. It also uses advanced research and training techniques to improve the process of making them. Plus, it involves developing new, state-of-the-art equipment and having a skilled workforce. Drinks like beer, wine, and rum have all reaped benefits from Alcohol Technology. For tequila, Alcohol Technology has speeded up the production process. It has also made it less labor-intensive.
Opportunities and Challenges
Recently the agave plant has been scarce. This scarcity has affected the making of tequila, and it has been a challenge for the industry as it has forced prices increases. It has also given other alcohol producers an advantage.
Despite agave being scarce, tequila itself is not in danger. The industry has more room to expand its products. Mixing tequila with other drinks like juices to make cocktails can open up a whole new market.
Most tequila consumption takes place in the US and Mexico. But bringing the beverage to new markets can open up a range of opportunities. For example, Caribbean people are well known for their copious consumption of alcohol. Although for most, the beverage of choice is rum, many are open to other drinks. Campari is already a bestseller there, so there is room for tequila.
SIS Conducts Tequila Taste Testing
Taste-testing, where people assess the taste of a beverage, has become popular. Learning the proper way to taste test can be a great way to learn about and enjoy tequila. Bars, restaurants, and other companies can see an increase in consumers. Getting the best out of this experience can have a positive impact on the tequila industry. SIS International Research conducts taste testing. You can partner with SIS to have testing done at your place of business.
What Can Market Research on Tequila Uncover?
Market research on tequila can uncover changes in customer tastes. It can also reveal favorite brands and help with the launching of new products. Plus, it can be a guide for companies to improve on what they offer in hopes of increasing their profits.
Market research on tequila can also help customers get to know this liquor. It can guide them to the best buy that may suit their taste.
Apart from taste testing, SIS International also provides Quantitative, Qualitative, and Strategy Research. We use Focus Groups, Interviews, and Surveys to feel the pulse of the market. It is the perfect partner if you’d like to explore the tequila market.