Global Tequila Market to Reach US$14.2 Billion by 2030
The global market for Tequila estimated at US$11.2 Billion in the year 2024, is expected to reach US$14.2 Billion by 2030, growing at a CAGR of 4.1% over the analysis period 2024-2030. Tequila Blanco, one of the segments analyzed in the report, is expected to record a 3.6% CAGR and reach US$5.8 Billion by the end of the analysis period. Growth in the Tequila Reposado segment is estimated at 5.0% CAGR over the analysis period.
The U.S. Market is Estimated at US$3.0 Billion While China is Forecast to Grow at 7.5% CAGR
The Tequila market in the U.S. is estimated at US$3.0 Billion in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$3.0 Billion by the year 2030 trailing a CAGR of 7.5% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 1.4% and 3.0% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.1% CAGR.
Global Tequila Market - Key Trends and Drivers Summarized
Tequila, a distilled spirit made primarily in the region surrounding the city of Tequila in the Mexican state of Jalisco, boasts a rich historical and cultural heritage that dates back to the 16th century. It is derived from the blue agave plant, specifically Agave tequilana, and under Mexican law, tequila can only be produced in Jalisco and limited municipalities in the states of Guanajuato, Michoacán, Nayarit, and Tamaulipas. The process of making tequila begins with the harvesting of agave, which can take between eight to twelve years to mature. Once harvested, the agave piñas are cooked to convert their starches into sugars, crushed to extract the agave juice, and then fermented and distilled. Tequila is categorized mainly into two types: 100% agave tequila and mixto, where the latter contains no less than 51% agave, with the rest made up of sugars. Further, tequila can be classified into five categories based on aging: blanco, joven, reposado, añejo, and extra añejo, which reflect different flavor profiles and complexities developed through the aging process.
The global appreciation for tequila has seen a dramatic rise, with its reputation evolving from a party spirit to a sophisticated drink enjoyed in cocktails or sipped neat. This shift is largely attributed to the craft cocktail movement that has embraced tequila for its versatility and unique flavor profile, suitable for a range of beverages from margaritas to more complex concoctions. Additionally, the spirit`s artisanal production aspects are increasingly highlighted, with small-batch and premium tequilas gaining prominence. These high-end tequilas focus on quality and traditional methods, often using hand-harvested agave and following natural fermentation processes that appeal to connoisseurs and casual drinkers alike. This surge in premium tequila has also led to collaborations between distillers and celebrities, further boosting its profile and desirability. As consumers become more educated about the different types and origins of tequila, their palate sophistication has also increased, fostering a deeper appreciation for authentic and premium variants.
The growth in the tequila market is driven by several factors, including advancements in production technology, strategic global marketing, and evolving consumer preferences. Technological improvements in distillation and aging processes have enabled producers to enhance the quality of tequila, making it competitive with other premium spirits like whisky and cognac. These advancements have helped distillers control and refine the flavors and aromas of tequila, appealing to a broader international audience. Furthermore, the expansion of global distribution channels has made tequila more accessible worldwide, contributing to its growing popularity. Marketing strategies play a crucial role, with brands leveraging social media and celebrity endorsements to reach a wider, more diverse audience. This is complemented by an increase in consumer demand for luxury and craft spirits, which has encouraged more people to explore and invest in high-quality tequila. Additionally, cultural trends promoting authentic and culturally rich products have favored tequila`s growth, positioning it not just as a beverage but as an experience that offers a taste of Mexican heritage. Together, these dynamics are propelling the tequila market towards sustained growth, with a forecasted continuation of its global expansion and elevated status within the spirits industry.
SCOPE OF STUDY:TARIFF IMPACT FACTOR
Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by artificially increasing the COGS, reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.
We are diligently following expert opinions of leading Chief Economists (14,949), Think Tanks (62), Trade & Industry bodies (171) worldwide, as they assess impact and address new market realities for their ecosystems. Experts and economists from every major country are tracked for their opinions on tariffs and how they will impact their countries.
We expect this chaos to play out over the next 2-3 months and a new world order is established with more clarity. We are tracking these developments on a real time basis.
As we release this report, U.S. Trade Representatives are pushing their counterparts in 183 countries for an early closure to bilateral tariff negotiations. Most of the major trading partners also have initiated trade agreements with other key trading nations, outside of those in the works with the United States. We are tracking such secondary fallouts as supply chains shift.
To our valued clients, we say, we have your back. We will present a simplified market reassessment by incorporating these changes!
APRIL 2025: NEGOTIATION PHASE
Our April release addresses the impact of tariffs on the overall global market and presents market adjustments by geography. Our trajectories are based on historic data and evolving market impacting factors.
JULY 2025 FINAL TARIFF RESET
Complimentary Update: Our clients will also receive a complimentary update in July after a final reset is announced between nations. The final updated version incorporates clearly defined Tariff Impact Analyses.
Reciprocal and Bilateral Trade & Tariff Impact Analyses:
USA
CHINA
MEXICO
CANADA
EU
JAPAN
INDIA
176 OTHER COUNTRIES.
Leading Economists - Our knowledge base tracks 14,949 economists including a select group of most influential Chief Economists of nations, think tanks, trade and industry bodies, big enterprises, and domain experts who are sharing views on the fallout of this unprecedented paradigm shift in the global econometric landscape. Most of our 16,491+ reports have incorporated this two-stage release schedule based on milestones.
Please note: Reports are sold as single-site single-user licenses. Electronic versions require 24-48 hours as each copy is customized to the client with digital controls and custom watermarks. The Publisher uses digital controls protecting against copying and printing is restricted to one full copy to be used at the same location.Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook