Global Tequila
Market Report
2024
Tequila market size was at USD 10.13 Billion in 2022 and is projected to reach USD 15.29 Billion by 2029, at CAGR of 5.62%.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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The Global Tequila market size was at USD 10.13 Billion in 2022 and is projected to reach USD 15.29 Billion by 2029, at CAGR of 5.62%.
In terms of revenue, Blanco was the leading segment with 34.12% Share of Total Tequila Market.
In terms of revenue, Neat was the leading segment with 51.01% Share of Total Tequila Market.
In terms of revenue, Economy was the leading segment with 58.77% Share of Total Tequila Market.
In terms of revenue, B2B was the leading segment with 63.97% Share of Total Tequila Market.
North America was the dominated region with 61.23% of total revenue market share in 2021.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Tequila Market Sales Revenue 2030 | $ 31.02 Billion |
Global Tequila Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 11.97% |
Market Split by Type |
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Market Split by Price |
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Market Split by Purity |
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Market Split by Distribution Channel |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Tequila Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Tequila is an alcoholic drink which is made with the agave plant that can only be produced in certain regions of Mexico. There are several styles of tequila and specific regulations that distillers must follow. Tequila is enjoyed globally and is most often consumed in Mexico and the U.S. Hence, U.S. dominates the global tequila industry with over 60% of value sales.
Volume of alcohol consumption has increased
According to new research conducted by a team of investigators from the Centre for Addiction and Mental Health, in Toronto, Canada, and the Technische Universität Dresden, in Germany, consumption of alcohol is been increased tremendously from last 3 decades. The team has founded that total volume of alcohol consumed per year increased by as much as 70% between 1990 and 2017, from 20,999 million litres per year to 35,676 million litres per year.
Prior to 1990, only high-income countries used to consume alcohol, especially European countries. However, this pattern has changed substantially, with large reductions across Eastern Europe and vast increases in several middle-income countries, such as China, India, and Vietnam. This has substantially driven the growth of tequila market.
High exposure to social media is driving craze for tequila
Rise in the demand for cocktails has increased the use of tequila across the globe. The world is now inclined towards social media, where huge exposure is been there for pretty and fancy parties, pubs, and cocktails. Premium cocktails have taken over the bars as well as the millennials drinking culture, and it is the talk of the town now.
Current Trends on Tequila:
Post COVID-19 pandemic period, market for tequila is at the boom
With the upliftment of COVID restrictions around the world, bars are customizing their menus and stirring up quality cocktails for their guests, and the demand for it keeps getting stronger. Hence, it has been estimated that post COVID-19 pandemic period, market for tequila is at the boom. Consumers are becoming more aware of what’s happening around the world and what everyone is drinking, they want to try something new and experiment with their flavours. Social media has played a huge role in making consumers aware. Bar tenders, and industry professionals are actively putting content on social media pages to expand their target audience.
In the post-pandemic landscape, Tequila brand owners are now finding more ways of bringing the spirit to new audiences, tapping into the RTD trend with accessible expressions such as ranch water (a cocktail that sits somewhere between a Margarita and a Tom Collins). At the premium end of the spectrum, producers are experimenting with an increasing array of distillation and maturation techniques
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Key Developments:
Pernod Ricard is acquiring a majority stake in Co?digo 1530 Ultra-Premium and Prestige tequila, strengthening its agave portfolio
Pernod Ricard has announced the signing of an agreement for the acquisition of a majority shareholding of Co?digo 1530 Tequila, a range of Ultra-Premium and Prestige tequila. This new investment into the fast-growing agave category, mainly driven by the US market, complements the Group’s very comprehensive portfolio across price points and occasions.
Diageo has acquired Casa UM
Diageo has announced its acquisition Mezcal Unión through the acquisition of Casa UM. Mezcal Unión was launched in 2011 by a group of Mexican entrepreneurs with the purpose of developing the category while generating positive social impact and preserving traditional production.
Campari Group takes stake in Catalyst Spirits:
Aperol owner Campari Group has acquired a minority stake in Catalyst Spirits and recorded double-digit gains for the first nine months of 2022. In august of 2022, the company has purchased 15% stake in banana-flavoured Bourbon brand Howler Head from Catalyst Spirits for US$15 million. The group has now taken a minority stake in London-based Catalyst Spirits, the spirits incubator and main shareholder of Howler Head. The aim is to build and grow ‘digitally-native’ premium brands.
Top Companies Market Share in Tequila Industry: (In no particular order of Rank)
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Market share for tequila in North America is over 60%
As per our analysis, market share for tequila in North America is over 60%. Hence North America is dominating the market with USD 6.11 Bn in 2021. From 2004 to 2021, tequila supplier revenue in the United States grew from $1.068 billion to an astounding $5.162 billion. Forecasts predict that numbers will continue to climb. In North America, tequila market is rapidly expanding due to rising consumption of premium tequila brands, many of which hinge on the popularity of exotic aged expressions.
Asia-Pacific tequila market is set to show significant growth rate in coming years
Asia-Pacific tequila market is set to display growth at a high compound annual growth rate as countries/territories on multiple metrics, New Zealand, Australia, Hong Kong, and Japan along with China and India has high potential for large spirits market sizes. Further, Australia's booming interest in agave spirits is due to its historical traditions. The market for liquor and spirits in Australia has always tended to follow the trends seen in the US and the UK.
Tequila is also seeing a rapid rise in popularity in Europe, partly due to an overall growth in the European spirits market in the past few years. But even with the spirits market in general continuing to grow, tequila and agave spirits are standouts for their impressive growth in Europe.
The current report Scope analyzes Tequila Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only.
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Global Tequila Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Tequila Industry growth. Tequila market has been segmented with the help of its Type, Price Purity, and others. Tequila market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
Blanco has dominated the overall market of tequila as it is used as the base for all the cocktails, making it perfect s a sipping spirit to be savoured slowly. It is also known as essence of tequila by distillers. Blanco is un-aged tequila that is bottled shortly after distillation.
Joven is blanco tequila that is either blended with a little bit of aged tequila or aged for just a few weeks before bottling. Reposado is aged for between 60 and 364 days (less than one year). Anejo is aged for at least one year, but less than three years. And extra anejo, the most recently added classification, is aged for at least three years.
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Tequila Industry. Request a Free Sample PDF!
As the cocktail culture and the trends in the alcohol industry increase, so does the demand for premium tequila, which is stimulating high growth rate during the forecast period.
The above Graph is for representation purposes only. This chart does not depict actual Market share.
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Tequila has less sugar and calories than similar liquors, which makes it slightly healthier option. However, when mixing with other ingredient may fluctuate its sugar level. So, people prefer to take it neat. This has driven the neat segment to be dominating. As changing lifestyle has ride most of the population towards healthy lifestyle, consumption of neat tequila is going to increase making it to grow at high CAGR during the forecast period.
In terms of distribution channel, the B2B segment dominated the market in year 2021 as culture of doing parties and going to pubs has increased a lot. The adoption of western culture across the globe has increased the consumption of cocktails.
Research Analyst at Cognitive Market Research
I am a research analyst working in various domains including the Consumer Goods domain, and my primary responsibility is to conduct thorough research on various subjects and provide valuable insights to support client requirements. I have knowledge of research methodologies, and data mining which enables me to analyze large data sets, draw meaningful conclusions, and communicate them effectively. I stay up-to-date with the latest research trends, methodologies, and technologies to ensure that my research is accurate, relevant, and impactful.
Sneha Mali is a research analyst working in various domains including the Consumer Goods, market research and transport & logistics and her primary responsibility is to conduct thorough research on various subjects and provide valuable insights to support client requirements. Her knowledge of research methodologies, and data mining which enables me to analyze large data sets, draw meaningful conclusions, and communicate them effectively.Sneha stay up-to-date with the latest research trends, methodologies, and technologies to ensure that her research is accurate, relevant, and impactful.
In her current role, Sneha is committed to continuous learning and staying abreast of emerging trends in research methodologies. Regular participation in workshops, webinars, and industry conferences ensures that her skills remain sharp and relevant. She have demonstrated ability to transform complex data sets into clear and concise narratives that inform key business strategies. Collaborating with cross-functional teams.Sneha remains an invaluable asset in the dynamic landscape of market research.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
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Type | Tequila Blanco, Tequila Joven, Tequila Mixto Gold, Tequila Reposado, Tequila Anejo, Extra Anejo |
Price | Premium, Economy |
Purity | Neat, Mixed |
Distribution Channel | B2B, B2C |
List of Competitors | Jose Cuervo, Sauza, Patrn, Juarez, 1800 Tequila, El Jimador Family, Don Julio, Familia Camarena Tequila, Herradura, Zarco, Cazadores, Cabo Tequila, Milagro, Margaritaville, Clase Azul, Avion Tequila, 1921 Tequila, 4 Copas, Corzo, El Agave Artesanal, Tequila Arette, Don Eduardo, Agave Dos Mil, Aha Toro, Buen Amigo, Campo Azul, Cascahuin Distillery, Compania Tequilera de Arandas, Centinela, Hacienda La Capilla |
This chapter will help you gain GLOBAL Market Analysis of Tequila. Further deep in this chapter, you will be able to review Global Tequila Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
Chapter 3 Europe Market Analysis
Chapter 4 Asia Pacific Market Analysis
Chapter 5 South America Market Analysis
Chapter 6 Middle East and Africa Market Analysis
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Chapter 7 Top 10 Countries Analysis (Only Available with Corporate User License)
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Type Analysis 2019 -2031, will provide market size split by Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Type Analysis 2019 -2031
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Chapter 11 Market Split by Price Analysis 2019 -2031
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Chapter 12 Market Split by Purity Analysis 2019 -2031
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Chapter 13 Market Split by Distribution Channel Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Tequila market
Chapter 14 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Tequila Blanco have a significant impact on Tequila market? |
What are the key factors affecting the Tequila Blanco and Tequila Joven of Tequila Market? |
What is the CAGR/Growth Rate of Premium during the forecast period? |
By type, which segment accounted for largest share of the global Tequila Market? |
Which region is expected to dominate the global Tequila Market within the forecast period? |
Segmentation Level Customization |
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Global level Data Customization |
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Region level Data Customization |
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Country level Data Customization |
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Company Level |
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Additional Data Analysis |
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Additional Qualitative Data |
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Additional Quantitative Data |
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Service Level Customization |
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Report Format Alteration |
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