NEWS
S. KOREAN YOUNG CONSUMERS EMBRACED TEQUILA AS WHISKY FALLS OUT OF FAVOUR
By Tony Zhu
15-3-2024
Credit: iam_os/Unsplash
As growth of whisky consumption lost steam in South Korea, tequila has emerged to be the latest imported spirit embraced by young consumers in the country.
According to Korea International Trade Association’s data, the country’s tequila imports increased 96.2 percent to 5.9 million tons in 2022 from a year ago.
The imports continued their upward trend to reach 6.3 million tons in 2023, up 10.4 percent on 2022.
“Tequila imports appeared to have increased after the USA tequila boom,” a Korean alcoholic drinks importer told the Korea Herald.
“Many companies are seeing tequila as the next drink that will lead the local spirits market, like what whisky did in the past two years," he added.
Local companies are already making moves to introduce tequila products in line with the trend.
Kooksoondang, the country’s leading makgeolli producer, for instance, has already launched imported tequila products.
Tequila and other agave spirits are currently experiencing growth in a number of countries outside of USA, South Korea is just one of them.
A recent report by professional services firm KPMG also highlighted that the increasing interest in cocktails will help spirits such as cognac and tequila advance in the South Korean market.
KPMG anticipated that as cocktails gained popularity among South Korean young generation, the country’s preference on spirits will become more diversified, and local companies are ready to launch new products to suit their tastes.
(the writer can be contacted at: info@thewinechronicle.com)
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