Global Tequila Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Tequila Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Tequila is an alcoholic drink made from the heart of the agave plant, which belongs to the category of distilled spirits. The young tequila has prominent acidity with notes of citrus and coffee. The aged agave has a rounder and softer taste, developing woody, vanilla, and caramel flavors similar to aged whiskey. Tequila is often used as a base wine to make various cocktails, and it can compete with whiskey and vodka. It is the national drink of Mexico.

Market Overview:

The latest research study on the global Tequila market finds that the global Tequila market reached a value of USD 5670.13 million in 2022. It’s expected that the market will achieve USD 7898.6 million by 2028, exhibiting a CAGR of 5.68% during the forecast period.

Consumer demand for premium spirits is growing

Premiumization has become a trend in recent years as consumers value quality over quantity. As consumers shift towards refined and premium beverages, subsequently triggering the demand for such products. According to the International Wine & Spirits Research (IWSR), by 2020, due to consumer demand for premium spirits and cocktails. The premiumization trend is widespread across European countries as consumers shift their attention to craft breweries and locally produced beverages. Moreover, these small craft distilleries are offering new propositions and flavors to spirits such as tequila which is driving the craft spirits market in Europe. In addition, increasing urbanization and disposable income of middle-class consumers have influenced their changing preferences. Hence, new consumption habits continue to drive the premium spirits category and drive market growth.

Region Overview:

In 2022, the share of the Tequila market in North America stood at 60.93%.

Company Overview

Becle, S.A.B. de C.V. provides alcoholic beverages. The Company produces, bottles, imports, and distributes wines, liquors, spirits, and other related products. Becle serves customers worldwide.

Segmentation Overview:

Among different product types, 100% Tequila segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the Entertainment Parties and Bars segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Tequila market covered in Chapter 3:

Diageo (Casamigos)
Becle
Milagro
Campari
Juarez
Bacardi (Cazadores)
1921 Tequila
Clase Azul
Compañia Tequilera de Arandas
El Agave Artesanal
Aha Toro
4 Copas
Campo Azul
Brown-Forman
Hacienda La Capilla
Centinela
Cascahuin Distillery
Tequila Arette
Buen Amigo
Beam Suntory

In Chapter 4 and Chapter 14.2, on the basis of types, the Tequila market from 2018 to 2029 is primarily split into:

100% Tequila
Mixto Tequila

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Tequila market from 2018 to 2029 covers:

Entertainment Parties and Bars
Family Drinking
Corporate Hospitality
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)