TheGlobal Tequila Marketsize was valued at 415.4 million liters in 2023 and is projected to reach 594.7 million liters by 2030. Along with this, the market is estimated to grow at a CAGR of around 5.26% during the forecast period, i.e., 2024-30.
Key Findings of the Study: Tequila Market
Global Tequila Market Driver: Growing Inclination Towards Craft and Artisanal Spirits Driving the Market Growth
The surging popularity of a variety of artisanal drinks among consumers has fueled the escalating demand for blue agave plant-based distilled spirits worldwide. Customers seeking fresh and flavorful beverages that offer a distinctive taste are contributing to the growth of the tequila market. Main brewers like Patron Spirits International have introduced unique flavors such as floral, black pepper, turmeric, and pumpkin to cater to consumer preferences while exploring new tastes. In 2023, the Distilled Spirits Council of the United States (DISCUS) stated that sales of spirits in the U.S. grew by about 1.2%, amounting to a total of around 308.8 million nine-liter cases compared to that of 2022. Additionally, which included tequila/mezcal sales increased by nearly 7.9%. Furthermore, craft spirits enjoyed strong performance across several key consuming nations including India, Vietnam, and especially in their domestic market, the US. This has soared the demand for high-quality and exotic flavor spirits, resulting in tequila-producing companies launching such products for consumers.
Processing craft and small-batch tequilas is leading to the formulation of a new customer base due to their traditional, artisanal production methods that prioritize quality, authenticity, and limited quantities. These tequilas are produced with different forms of agave, terroir, and production techniques, etc. Therefore, to meet the demand for artisanal spirits, manufacturers are introducing innovative flavors that further augment the Global Tequila Market growth.
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Scope of the Report and Tequila Market Segmentation
By Type
-Blanco
-Joven
-Reposado
-Curados
-Cristalino
-Others (Anejo, Extra Anejo)
- Blanco has been dominating the market. Blanco due to the lower duration of fermentation, is produced in larger quantities and thus can fulfill the growing demand for tequila at a greater pace compared to the other variants of tequila.
By Grade
-Value
-Premium
-Others (Super Premium, Ultra Premium)
By Purity
-100% Tequila
-Mixto Tequila
By Distribution Channel
-Off-Trade
--Supermarkets/Hypermarkets
--Liquor Stores
--Online Retail
--Others (Kiosks, Convenience Stores, etc.)
-On-Trade
--Restaurants Bars
--Others (Hotels, Nightclubs, etc.)
Top leading companies in theTequila Marketincludes:
Becle, S.A.B. de C.V., Amber Beverage Group, Bacardi Limited, Suntory Group, BrownForman, Diageo Plc, Pernord Ricard, Davide Campari-Milano N.V., Solento Inc., Constellation Brands, Inc., Asahi Beverages, LVMH (Mot Hennessy), Heaven Hill Distilleries, Inc. , Casa Aceves, Others
Tequila Market Development
- In 2024, Patron Tequila (Becle, S.A.B. de C.V.)launched its first-ever Cristalino Anejo Tequila.
- In 2023, Pernod Ricardmade one of the key additions to its tequila offering by introducing a new range of infused tequilas, Altos Infusionado.
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Geographical analysis:
North America: US, Canada, Mexico
Europe: The UK, Germany, France, Italy, Spain, The Netherlands, Scandinavia, Rest of Europe
Asia-Pacific: China, India, Japan, South Korea, Australia, Rest of Asia-Pacific
South America: Brazil, Argentina, Rest of South America
Middle East Africa: UAE, Israel, South Africa, Rest of MEA
- Europe has observed rapid growth in the Global Tequila Market.
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