Tequila Market
Global Tequila Market Size, Share & Trends Analysis Report by Type (Blanco, Reposado, Anejo, and Others), by Grade (Value, Premium, High-End Premium, and Super Premium), and by Distribution Channel (On-Trade and Off-Trade) Forecast Period (2022-2028) Update Available - Forecast 2024-2030
The global tequila market is anticipated to grow at a significant CAGR of 6% during the forecast period. Tequila is a distilled alcoholic beverage derived from the Agave Tequilana plant. It's fermented with fake flavorings and additional carbohydrates like glucose and fructose. The amount of alcohol, flavor, and color of tequila varies depending on how long it has been aged. It helps in digestion by increasing probiotic levels, enhancing calcium and magnesium absorption, and encouraging the development of good bacteria in the intestines when used moderately. It is often used as a foundation component in cocktails and is quite popular among young people across the globe. As a result of which, the rising popularity of cocktail culture both in and out of the house is propelling the growth of the market. According to 2021 data obtained from the Tequila Regulatory Council (CRT), in 2021 the Tequila industry produced 352 million liters and exported them to 120 countries, which demonstrates the success of the beverage among national and international consumers.
Impact of COVID-19 Pandemic on Global Tequila Market
The COVID-19 pandemic has impacted most of the industries in the market. The spread of the virus led most governments across the globe to impose a lockdown that strictly restricted the use of outdoor shopping and shut down most transportation services for a while. Lockdown imposed stopped traveling activities across the globe. It caused market players resistance in their regular sales. All this led to an increase in the demand for online grocery shopping, and production activities which resulted in the growth of the global tequila market.
Segmental Outlook
The global tequila market is segmented based on type, grade, and distribution channel. Based on type, the market is segmented into Blanco, reposado, anejo, and others. Based on the grade, the market is segmented into value, premium, high-end premium, and super-premium. Based on the distribution channel, the market is segmented into on-trade and off-trade.
Global Tequila Market Share by Grade, 2021 (%)
The Premium Segment Anticipated to Hold the Prominent Share in the Global Tequila Market
The premium tequila segment is estimated growth the market with a prominent share of the market during the forecast period. The premium-grade spirit blends sensory appeal, mouthfeel, and texture, which consumers like. The demand for premium spirit variations is mostly driven by millennials and young people. For instance, in April 2022, Suave premium tequila announces launch of founder’s edition.
Regional Outlooks
The global tequila market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East & Africa, and Latin America). The market can be analyzed for a particular region or country level as per the requirement.
Global Tequila Market Growth, by Region 2022-2028
The North America Region Estimated to Grow at a Considerable CAGR in the Global Tequila Market
The North American region is projected to grow fastest during the forecast period. Due to a growing consumer preference for agave-based spirits in the U.S. and Mexico. According to the International Wine and Spirits Research (IWSR) study report in 2019, approximately 52 % of adults in the US consume alcohol. In addition, in 2019 the big companies are growing their exports, 70 % of the blue agave plant distilled beverage produced in Mexico was shipped to 120 countries, with the US accounting for the majority of the exports. New tequila flavors are also being introduced, along with celebrity endorsements across the region, which is expected to offer considerable regional growth. According to the World Health Organization (WHO), the US had an annual consumption per person of 9.97 liters of pure alcohol in 2019. This puts the US at the 39th-highest spot, significantly above the global average of 5.8 liters. The minimum drinking age in the US is 21 and is strictly enforced in most locations. For instance, in April 2021, Bacardi introduced a premix RTD to the portfolio of its tequila brand Cazadores in the US The RTDs, which have an abv of 5.9%, is made with 100% blue agave and come in a spicy margarita, margarita, and Paloma flavors. With the launch, the company is trying to give the consumer an expertly crafted and modern on-the-go experience.
Market Players Outlook
The major companies serving the global tequila market include Amber Beverage group, Diageo Plc, El Grado Tequila, Jose Cuervo, Tequila Arette, and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in February 2022, Pernod Ricard's added Avión Reserva Cristalino Tequila to its Avión line-up. From field to bottle, the firm has produced a product that honors every stage of its manufacturing process, showing the distinctiveness of its terroir, the flavor of agave, the purity of distillation, and the delicate interaction with wood during maturation.
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global tequila market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
• Impact of COVID-19 on the Global Tequila Market
• Recovery Scenario of Global Tequila Market
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.2. Amber Beverage Group Holding S.à r.l.
3.2.1. Overview
3.2.2. Financial Analysis
3.2.3. SWOT Analysis
3.2.4. Recent Developments
3.3. Diageo Plc
3.3.1. Overview
3.3.2. Financial Analysis
3.3.3. SWOT Analysis
3.3.4. Recent Developments
3.4. El Grado Tequila
3.4.1. Overview
3.4.2. Financial Analysis
3.4.3. SWOT Analysis
3.4.4. Recent Developments
3.5. Jose Cuervo
3.5.1. Overview
3.5.2. Financial Analysis
3.5.3. SWOT Analysis
3.5.4. Recent Developments
3.6. Key Strategy Analysis
3.7. Impact of COVID-19 on Key Players
4. Market Segmentation
4.1. Global Tequila Market by Type
4.1.1. Blanco
4.1.2. Reposado
4.1.3. Anejo
4.1.4. Others
4.2. Global Tequila Market by Grade
4.2.1. Value
4.2.2. Premium
4.2.3. High-End Premium
4.2.4. Super-Premium
4.3. Global Tequila Market by Distribution Channel
4.3.1. On-Trade
4.3.2. Off-Trade
5. Regional Analysis
5.1. North America
5.1.1. US
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. Ambhar Tequila
6.2. Bacardi Limited
6.3. Beam Suntory Inc. (Suntory Beverage & Food Ltd.)
6.4. Brown-Forman Corp.
6.5. Campari Group
6.6. Casa Aceves
6.7. Constellation Brands, Inc.
6.8. Diageo Plc
6.9. Dos Lunas
6.10. El Agave Artesanal
6.11. Heaven Hill Distilleries, Inc.
6.12. Pernod Ricard S.A.
6.13. Sazerac Company Inc.
6.14. Tequila Arette
1. GLOBAL TEQUILA MARKET RESEARCH AND ANALYSIS BY TYPE, 2021-2028 ($ MILLION)
2. GLOBAL BLANCO TEQUILA MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
3. GLOBAL REPOSADO TEQUILA MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
4. GLOBAL ANEJO TEQUILA MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
5. GLOBAL OTHERS TEQUILA MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
6. GLOBAL TEQUILA MARKET RESEARCH AND ANALYSIS BY GRADE, 2021-2028 ($ MILLION)
7. GLOBAL VALUE TEQUILA MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
8. GLOBAL PREMIUM TEQUILA MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
9. GLOBAL HIGH-END PREMIUM TEQUILA MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
10. GLOBAL SUPER- PREMIUM TEQUILA MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
11. GLOBAL TEQUILA MARKET RESEARCH AND ANALYSIS BY DISTRIBUTION CHANNEL, 2021-2028 ($ MILLION)
12. GLOBAL ON-TRADE TEQUILA MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
13. GLOBAL OFF-TRADE TEQUILA MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
14. GLOBAL TEQUILA MARKET RESEARCH AND ANALYSIS BY GEOGRAPHY, 2021-2028 ($ MILLION)
15. NORTH AMERICAN TEQUILA MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
16. NORTH AMERICAN TEQUILA MARKET RESEARCH AND ANALYSIS BY TYPE, 2021-2028 ($ MILLION)
17. NORTH AMERICAN TEQUILA MARKET RESEARCH AND ANALYSIS BY GRADE, 2021-2028 ($ MILLION)
18. NORTH AMERICAN TEQUILA MARKET RESEARCH AND ANALYSIS BY DISTRIBUTION CHANNEL, 2021-2028 ($ MILLION)
19. EUROPEAN TEQUILA MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
20. EUROPEAN TEQUILA MARKET RESEARCH AND ANALYSIS BY TYPE, 2021-2028 ($ MILLION)
21. EUROPEAN TEQUILA MARKET RESEARCH AND ANALYSIS BY GRADE, 2021-2028 ($ MILLION)
22. EUROPEAN TEQUILA MARKET RESEARCH AND ANALYSIS BY DISTRIBUTION CHANNEL, 2021-2028 ($ MILLION)
23. ASIA-PACIFIC TEQUILA MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
24. ASIA-PACIFIC TEQUILA MARKET RESEARCH AND ANALYSIS BY TYPE, 2021-2028 ($ MILLION)
25. ASIA-PACIFIC TEQUILA MARKET RESEARCH AND ANALYSIS BY GRADE, 2021-2028 ($ MILLION)
26. ASIA-PACIFIC TEQUILA MARKET RESEARCH AND ANALYSIS BY DISTRIBUTION CHANNEL, 2021-2028 ($ MILLION)
27. REST OF THE WORLD TEQUILA MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
28. REST OF THE WORLD TEQUILA MARKET RESEARCH AND ANALYSIS BY TYPE, 2021-2028 ($ MILLION)
29. REST OF THE WORLD TEQUILA MARKET RESEARCH AND ANALYSIS BY GRADE, 2021-2028 ($ MILLION)
30. REST OF THE WORLD TEQUILA MARKET RESEARCH AND ANALYSIS BY DISTRIBUTION CHANNEL, 2021-2028 ($ MILLION)
1. IMPACT OF COVID-19 ON GLOBAL TEQUILA MARKET, 2021-2028 ($ MILLION)
2. IMPACT OF COVID-19 ON GLOBAL TEQUILA MARKET BY SEGMENT, 2021-2028 ($ MILLION)
3. RECOVERY OF GLOBAL TEQUILA MARKET, 2022-2028 (%)
4. GLOBAL BLANCO TEQUILA MARKET SHARE BY TYPE, 2021 VS 2028 (%)
5. GLOBAL REPOSADO TEQUILA MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
6. GLOBAL ANEJO TEQUILA MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
7. GLOBAL OTHER TEQUILA MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
8. GLOBAL TEQUILA MARKET SHARE BY GRADE, 2021 VS 2028 (%)
9. GLOBAL VALUE TEQUILA MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
10. GLOBAL PREMIUM TEQUILA MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
11. GLOBAL HIGH-END PREMIUM TEQUILA MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
12. GLOBAL SUPER-PREMIUM TEQUILA MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
13. GLOBAL TEQUILA MARKET SHARE BY DISTRIBUTION CHANNEL, 2021 VS 2028 (%)
14. GLOBAL ON-TRADE TEQUILA MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
15. GLOBAL OFF-TRADE TEQUILA MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
16. GLOBAL TEQUILA MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
17. US TEQUILA MARKET SIZE, 2021-2028 ($ MILLION)
18. CANADA TEQUILA MARKET SIZE, 2021-2028 ($ MILLION)
19. UK TEQUILA MARKET SIZE, 2021-2028 ($ MILLION)
20. FRANCE TEQUILA MARKET SIZE, 2021-2028 ($ MILLION)
21. GERMANY TEQUILA MARKET SIZE, 2021-2028 ($ MILLION)
22. ITALY TEQUILA MARKET SIZE, 2021-2028 ($ MILLION)
23. SPAIN TEQUILA MARKET SIZE, 2021-2028 ($ MILLION)
24. REST OF EUROPE TEQUILA MARKET SIZE, 2021-2028 ($ MILLION)
25. INDIA TEQUILA MARKET SIZE, 2021-2028 ($ MILLION)
26. CHINA TEQUILA MARKET SIZE, 2021-2028 ($ MILLION)
27. JAPAN TEQUILA MARKET SIZE, 2021-2028 ($ MILLION)
28. SOUTH KOREA TEQUILA MARKET SIZE, 2021-2028 ($ MILLION)
29. REST OF ASIA-PACIFIC TEQUILA MARKET SIZE, 2021-2028 ($ MILLION)
30. REST OF THE WORLD TEQUILA MARKET SIZE, 2021-2028 ($ MILLION)
