Tequila Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Tequila Market
The tequila market size was valued at USD 11.04 billion in 2023, and the market is now projected to grow from USD 11.69 billion in 2024 to USD 18.58 billion by 2032, exhibiting a CAGR of 5.97% during the forecast period of 2024-2032.
The COVID-19 pandemic has actually had a big result on particular markets consisting of food and also beverages along with medicines. Nevertheless, it has additionally included difficulties for the financial system in addition to labor lacks, restricted accessibility of basic materials, and also the closure of several manufacturing facilities These elements have actually injured the economic situation. Furthermore, the leading firms experienced a mild decrease in the tequila market growth throughout the first phases of the lockdown because of the lack of traveling retail. Fortunately, this was countered by the resuming of some on-trade facilities.
The fast-growing global market for blue agave distilled spirits is the main factor driving the customers’ interest in trying various spirits. Demand for tequila booms from the consumers' tendencies to go for premium and extravagant cocktail-making with diversified tastes. Nowadays, thanks to the premiumization trend, buyers would like to spend their money not on a bulk of items as possible but on high-quality ones instead. Moreover, the invention of high-quality beverage products invariably leads to a similar demand for them. The consumer liking for novel flavors and top-quality tequila brands is currently there the reason for the growth of the tequila market share.
The expanding technique of blending spirits to produce an alcoholic drink that offers the client a one-of-a-kind spirit experience is considerably increasing tequila sales. The spirit's first online reputation for being appreciated while drinking a beverage slowly developed as brand-new, uncommon beverages struck the marketplace.
Comprehensive Analysis of Tequila Market
Due to product diversification, the tequila industry is unabatedly increasing in length. With the flourishing of this market excessive-stage nearby opinions that are multi-dimensioned may be made which remember the essential delivery and demand determinants of the food and beverage quarter. Divisions are created strictly with the aid of grade, distribution channel, and kind of tequila. Blanco, Reposado, Anejo, and others are the types of tequilas. This is normally classified according to grade into cost, top class, high give-up premium, and extremely good top rate. However, on-trade and off-trade are the primary distribution channels.
The market leader, North America was thought to be worth USD 6.86 billion in 2023. This can be credited to the rising wish of American as well as Mexican buyers for agave-based overall spirits. Additionally, people favor updating as they expand much more familiar with far better spirits.
Pernod Ricard S.A. (France), Diageo Plc (U.K.), Bacardi Limited (Bermuda), Suntory Holdings Limited (Japan), Heaven Hill Distilleries, Inc. (U.S.), Campari Group (Italy), Sazerac Company Inc. (U.S.), Brown-Forman Corporation (U.S.), Casa Aceves (Mexico), and Constellation Brands, Inc. (U.S.) are the leading players in the tequila market. These market enthusiasts play a critical position in the food and beverage enterprise.
Don Julio, the Diageo-owned Tequila brand name, supplied Alma Miel in January 2024. It's a blend of both anejo and blanco tequilas with oven-roasted agave nectar.
Segmentation Table
Global Tequila Market Scope
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 5.97%from 2024 to 2032
Unit Value (USD billion)
Segmentation By Type, By Grade, By Distribution Channel, and By Geography
By Type Blanco
Reposado
Anejo
Others
By Grade Value
Premium
High-end Premium
Super Premium
By Distribution Channel On-trade
Off-trade
By Geography
North America (By Type, Grade, Distribution Channel, and By Country)
U.S. (By Grade)
Canada (By Grade)
Mexico (By Grade)
Europe (By Type, Grade, Distribution Channel, and By Country)
Germany (By Grade)
U.K. (By Grade)
Spain (By Grade)
France (By Grade)
Italy (By Grade)
Rest of Europe (Grade)
Asia Pacific (By Type, Grade, Distribution Channel, and By Country)
China (By Grade)
South Korea (By Grade)
Australia (By Grade)
Japan (By Grade)
Rest of Asia Pacific (By Grade)
South America (By Type, Grade, Distribution Channel, and By Country)
Brazil (By Grade)
Argentina (By Grade)
Rest of South America (By Grade)
Middle East and Africa (By Type, Grade, Distribution Channel, and By Country)
South Africa (By Grade)
Turkey (By Grade)
Rest of ME&A (By Grade)
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- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 3.4. Emerging Trends
- 4. Key Insights
- 4.1. Overview on the Global Spirits Market
- 4.1.1. Analysis on Supply and Demand of Agave
- 4.1.2. Raw Material (Agave) Price Trend Analysis
- 4.2. Supply Chain & Regulatory Analysis
- 4.3. Recent Industry Developments - Policies, Mergers & Acquisitions, and New Product Launches
- 4.4. Market Analysis and Insights (in Relation with COVID-19)
- 5. Global Tequila Market Analysis, Insights and Forecast, 2019-2032
- 5.1. Key Findings / Summary
- 5.2. Market Size Estimates and Forecast
- 5.2.1. By Type (Value)
- 5.2.1.1. Blanco
- 5.2.1.2. Reposado
- 5.2.1.3. Anejo
- 5.2.1.4. Others
- 5.2.2. By Grade (Value)
- 5.2.2.1. Value
- 5.2.2.2. Premium
- 5.2.2.3. High-end Premium
- 5.2.2.4. Super Premium
- 5.2.3. By Distribution Channel (Value)
- 5.2.3.1. On-Trade
- 5.2.3.2. Off-Trade
- 5.2.4. By Region (Value)
- 5.2.4.1. North America
- 5.2.4.2. Europe
- 5.2.4.3. Asia Pacific
- 5.2.4.4. South America
- 5.2.4.5. Middle East & Africa
- 6. North America Tequila Market Analysis, Insights and Forecast, 2019-2032
- 6.1. Key Findings / Summary
- 6.2. Market Size Estimates and Forecast
- 6.2.1. By Type (Value)
- 6.2.1.1. Blanco
- 6.2.1.2. Reposado
- 6.2.1.3. Anejo
- 6.2.1.4. Others
- 6.2.2. By Grade (Value)
- 6.2.2.1. Value
- 6.2.2.2. Premium
- 6.2.2.3. High-end Premium
- 6.2.2.4. Super Premium
- 6.2.3. By Distribution Channel (Value)
- 6.2.3.1. On-Trade
- 6.2.3.2. Off-Trade
- 6.2.4. By Country (Value)
- 6.2.4.1. U.S
- 6.2.4.1.1. By Grade (Value)
- 6.2.4.1.1.1. Value
- 6.2.4.1.1.2. Premium
- 6.2.4.1.1.3. High-end Premium
- 6.2.4.1.1.4. Super Premium
- 6.2.4.2. Canada
- 6.2.4.2.1. By Grade (Value)
- 6.2.4.2.1.1. Value
- 6.2.4.2.1.2. Premium
- 6.2.4.2.1.3. High-end Premium
- 6.2.4.2.1.4. Super Premium
- 6.2.4.3. Mexico
- 6.2.4.3.1. By Grade (Value)
- 6.2.4.3.1.1. Value
- 6.2.4.3.1.2. Premium
- 6.2.4.3.1.3. High-end Premium
- 6.2.4.3.1.4. Super Premium
- 7. Europe Tequila Market Analysis, Insights and Forecast, 2019-2032
- 7.1. Key Findings / Summary
- 7.2. Market Size Estimates and Forecast
- 7.2.1. By Type (Value)
- 7.2.1.1. Blanco
- 7.2.1.2. Reposado
- 7.2.1.3. Anejo
- 7.2.1.4. Others
- 7.2.2. By Grade (Value)
- 7.2.2.1. Value
- 7.2.2.2. Premium
- 7.2.2.3. High-end Premium
- 7.2.2.4. Super Premium
- 7.2.3. By Distribution Channel (Value)
- 7.2.3.1. On-Trade
- 7.2.3.2. Off-Trade
- 7.2.4. By Country (Value)
- 7.2.4.1. Germany
- 7.2.4.1.1. By Grade (Value)
- 7.2.4.1.1.1. Value
- 7.2.4.1.1.2. Premium
- 7.2.4.1.1.3. High-end Premium
- 7.2.4.1.1.4. Super Premium
- 7.2.4.2. U.K.
- 7.2.4.2.1. By Grade (Value)
- 7.2.4.2.1.1. Value
- 7.2.4.2.1.2. Premium
- 7.2.4.2.1.3. High-end Premium
- 7.2.4.2.1.4. Super Premium
- 7.2.4.3. Spain
- 7.2.4.3.1. By Grade (Value)
- 7.2.4.3.1.1. Value
- 7.2.4.3.1.2. Premium
- 7.2.4.3.1.3. High-end Premium
- 7.2.4.3.1.4. Super Premium
- 7.2.4.4. France
- 7.2.4.4.1. By Grade (Value)
- 7.2.4.4.1.1. Value
- 7.2.4.4.1.2. Premium
- 7.2.4.4.1.3. High-end Premium
- 7.2.4.4.1.4. Super Premium
- 7.2.4.5. Italy
- 7.2.4.5.1. By Grade (Value)
- 7.2.4.5.1.1. Value
- 7.2.4.5.1.2. Premium
- 7.2.4.5.1.3. High-end Premium
- 7.2.4.5.1.4. Super Premium
- 7.2.4.6. Rest of Europe
- 7.2.4.6.1. By Grade (Value)
- 7.2.4.6.1.1. Value
- 7.2.4.6.1.2. Premium
- 7.2.4.6.1.3. High-end Premium
- 7.2.4.6.1.4. Super Premium
- 8. Asia-Pacific Tequila Market Analysis, Insights and Forecast, 2019-2032
- 8.1. Key Findings / Summary
- 8.2. Market Size Estimates and Forecast
- 8.2.1. By Type (Value)
- 8.2.1.1. Blanco
- 8.2.1.2. Reposado
- 8.2.1.3. Anejo
- 8.2.1.4. Others
- 8.2.2. By Grade (Value)
- 8.2.2.1. Value
- 8.2.2.2. Premium
- 8.2.2.3. High-end Premium
- 8.2.2.4. Super Premium
- 8.2.3. By Distribution Channel (Value)
- 8.2.3.1. On-Trade
- 8.2.3.2. Off-Trade
- 8.2.4. By Country (Value)
- 8.2.4.1. China
- 8.2.4.1.1. By Grade (Value)
- 8.2.4.1.1.1. Value
- 8.2.4.1.1.2. Premium
- 8.2.4.1.1.3. High-end Premium
- 8.2.4.1.1.4. Super Premium
- 8.2.4.2. South Korea
- 8.2.4.2.1. By Grade (Value)
- 8.2.4.2.1.1. Value
- 8.2.4.2.1.2. Premium
- 8.2.4.2.1.3. High-end Premium
- 8.2.4.2.1.4. Super Premium
- 8.2.4.3. Australia
- 8.2.4.3.1. By Grade (Value)
- 8.2.4.3.1.1. Value
- 8.2.4.3.1.2. Premium
- 8.2.4.3.1.3. High-end Premium
- 8.2.4.3.1.4. Super Premium
- 8.2.4.4. Japan
- 8.2.4.4.1. By Grade (Value)
- 8.2.4.4.1.1. Value
- 8.2.4.4.1.2. Premium
- 8.2.4.4.1.3. High-end Premium
- 8.2.4.4.1.4. Super Premium
- 8.2.4.5. Rest of Asia-Pacific
- 8.2.4.5.1. By Grade (Value)
- 8.2.4.5.1.1. Value
- 8.2.4.5.1.2. Premium
- 8.2.4.5.1.3. High-end Premium
- 8.2.4.5.1.4. Super Premium
- 9. South America Tequila Market Analysis, Insights and Forecast, 2019-2032
- 9.1. Key Findings / Summary
- 9.2. Market Size Estimates and Forecast
- 9.2.1. By Type (Value)
- 9.2.1.1. Blanco
- 9.2.1.2. Reposado
- 9.2.1.3. Anejo
- 9.2.1.4. Others
- 9.2.2. By Grade (Value)
- 9.2.2.1. Value
- 9.2.2.2. Premium
- 9.2.2.3. High-end Premium
- 9.2.2.4. Super Premium
- 9.2.3. By Distribution Channel (Value)
- 9.2.3.1. On-Trade
- 9.2.3.2. Off-Trade
- 9.2.4. By Country (Value)
- 9.2.4.1. Brazil
- 9.2.4.1.1. By Grade (Value)
- 9.2.4.1.1.1. Value
- 9.2.4.1.1.2. Premium
- 9.2.4.1.1.3. High-end Premium
- 9.2.4.1.1.4. Super Premium
- 9.2.4.2. Argentina
- 9.2.4.2.1. By Grade (Value)
- 9.2.4.2.1.1. Value
- 9.2.4.2.1.2. Premium
- 9.2.4.2.1.3. High-end Premium
- 9.2.4.2.1.4. Super Premium
- 9.2.4.3. Rest of South America
- 9.2.4.3.1. By Grade (Value)
- 9.2.4.3.1.1. Value
- 9.2.4.3.1.2. Premium
- 9.2.4.3.1.3. High-end Premium
- 9.2.4.3.1.4. Super Premium
- 10. Middle East & Africa Tequila Market Analysis, Insights and Forecast, 2019-2032
- 10.1. Key Findings / Summary
- 10.2. Market Size Estimates and Forecast
- 10.2.1. By Type (Value)
- 10.2.1.1. Blanco
- 10.2.1.2. Reposado
- 10.2.1.3. Anejo
- 10.2.1.4. Others
- 10.2.2. By Grade (Value)
- 10.2.2.1. Value
- 10.2.2.2. Premium
- 10.2.2.3. High-end Premium
- 10.2.2.4. Super Premium
- 10.2.3. By Distribution Channel (Value)
- 10.2.3.1. On-Trade
- 10.2.3.2. Off-Trade
- 10.2.4. By Country (Value)
- 10.2.4.1. South Africa
- 10.2.4.1.1. By Grade (Value)
- 10.2.4.1.1.1. Value
- 10.2.4.1.1.2. Premium
- 10.2.4.1.1.3. High-end Premium
- 10.2.4.1.1.4. Super Premium
- 10.2.4.2. UAE
- 10.2.4.2.1. By Grade (Value)
- 10.2.4.2.1.1. Value
- 10.2.4.2.1.2. Premium
- 10.2.4.2.1.3. High-end Premium
- 10.2.4.2.1.4. Super Premium
- 10.2.4.3. Rest of Middle East & Africa
- 10.2.4.3.1. By Grade (Value)
- 10.2.4.3.1.1. Value
- 10.2.4.3.1.2. Premium
- 10.2.4.3.1.3. High-end Premium
- 10.2.4.3.1.4. Super Premium
- 11. Competitive Matrix
- 11.1. Business Strategies Adopted by Leading Players
- 11.2. Global Tequila Market Revenue Share/Ranking Analysis, By Key Manufacturer
- 12. Company Profiles
- 12.1. Diageo Plc
- 12.1.1. Overview
- 12.1.2. Description
- 12.1.3. Product Portfolio
- 12.1.4. Financials (Data as available in public domain and/or on paid databases)
- 12.1.5. Recent DevelopHouseholdts
- 12.2. Tequila Ocho
- 12.2.1. Overview
- 12.2.2. Description
- 12.2.3. Product Portfolio
- 12.2.4. Financials (Data as available in public domain and/or on paid databases)
- 12.2.5. Recent DevelopHouseholdts
- 12.3. Bacardi & Company Ltd.
- 12.3.1. Overview
- 12.3.2. Description
- 12.3.3. Product Portfolio
- 12.3.4. Financials (Data as available in public domain and/or on paid databases)
- 12.3.5. Recent DevelopHouseholdts
- 12.4. Vault Fine Spirits Pvt. Ltd
- 12.4.1. Overview
- 12.4.2. Description
- 12.4.3. Product Portfolio
- 12.4.4. Financials (Data as available in public domain and/or on paid databases)
- 12.4.5. Recent DevelopHouseholdts
- 12.5. Charbay Distillery
- 12.5.1. Overview
- 12.5.2. Description
- 12.5.3. Product Portfolio
- 12.5.4. Financials (Data as available in public domain and/or on paid databases)
- 12.5.5. Recent DevelopHouseholdts
- 12.6. Tequila Fortaleza
- 12.6.1. Overview
- 12.6.2. Description
- 12.6.3. Product Portfolio
- 12.6.4. Financials (Data as available in public domain and/or on paid databases)
- 12.6.5. Recent DevelopHouseholdts
- 12.7. Proximo Spirits, Inc.
- 12.7.1. Overview
- 12.7.2. Description
- 12.7.3. Product Portfolio
- 12.7.4. Financials (Data as available in public domain and/or on paid databases)
- 12.7.5. Recent DevelopHouseholdts
- 12.8. Brown-Forman Corporation
- 12.8.1. Overview
- 12.8.2. Description
- 12.8.3. Product Portfolio
- 12.8.4. Financials (Data as available in public domain and/or on paid databases)
- 12.8.5. Recent DevelopHouseholdts
- 12.9. Pernod Ricard S.A.
- 12.9.1. Overview
- 12.9.2. Description
- 12.9.3. Product Portfolio
- 12.9.4. Financials (Data as available in public domain and/or on paid databases)
- 12.9.5. Recent DevelopHouseholdts
- 12.10. Casa Aceves Spirits
- 12.10.1. Overview
- 12.10.2. Description
- 12.10.3. Product Portfolio
- 12.10.4. Financials (Data as available in public domain and/or on paid databases)
- 12.10.5. Recent DevelopHouseholdts
- 13. Appendix
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