Tequila Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Tequila Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Report Format: PDF+Excel | Report ID: SR112024A106
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Market Overview 2023-2028:

The global tequila market size reached US$ 14.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 30.3 Billion by 2028, exhibiting a growth rate (CAGR) of 12.3% during 2023-2028.

Tequila is a distilled alcoholic beverage produced from the Agave Tequilana plant. It is fermented with additional sweeteners, such as glucose and fructose, and artificial additives for flavorings. The alcohol content, flavor and color of tequila generally vary depending on the duration of the aging process. Its moderate consumption aids in digestion, increasing probiotic levels, enhancing the absorption of calcium and magnesium, and supporting the growth of healthful microbes in the intestines. It is widely utilized as a base ingredient in cocktails and is popular among young individuals across the globe.

 

 
 

 

Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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Tequila Market Trends:

A significant rise in the popularity of cocktail culture both in and out of the house represents one of the key factors impelling the global tequila market growth. Moreover, due to changing lifestyles and inflating income levels, ultra-premium and exclusive handcrafted tequila variants are gaining traction around the world. Apart from this, the leading players are introducing variants produced with natural ingredients, such as lemon, coconut tangerine, strawberry, pineapple, mango and pear to expand their product portfolio. They are also offering canned tequila cocktails, which are convenient and cost-effective, to increase their overall sales. However, on account of the spread of the coronavirus disease (COVID-19), governments of several countries have implemented complete lockdowns and social distancing measures to contain the spread of the pandemic. Although the on-premises sales of tequila have decreased, there is a rise in the demand for alcoholic beverages through e-commerce channels in some countries.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global tequila market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product type, purity, price range and distribution channel.

Breakup by Product Type:

 

 
 

 

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  • Blanco
  • Joven
  • Mixto Gold
  • Reposado
  • Anejo
  • Extra Anejo
     

Breakup by Purity:

  • 100% Tequila
  • 60% Tequila
     

Breakup by Price Range:

  • Premium Tequila
  • Value Tequila
  • Premium and Super-Premium Tequila
  • Ultra-Premium Tequila
     

Breakup by Distribution Channel:

  • Off-Trade 
    • Supermarkets and Hypermarkets
    • Discount Stores 
    • Online Stores
    • Others
  • On-Trade 
    • Restaurants and Bars
    • Liquor Stores 
    • Others
       

Breakup by Region:

 

 
 

 

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  • North America
    • United States
    • Canada
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players:

  • Ambhar Tequila
  • Bacardi Limited
  • Beam Suntory Inc. (Suntory Beverage & Food Ltd)
  • Brown–Forman
  • Diageo Plc
  • Dos Lunas
  • El Agave Artesanal
  • El Grado Tequila
  • Jose Cuervo
  • Tequila Arette

Report Coverage:

Report Features Details
Base Year of the Analysis 2022
Historical Period 2017-2022
Forecast Period 2023-2028
Units US$ Billion
Segment Coverage Product Type, Purity, Price Range, Distribution Channel, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Ambhar Tequila, Bacardi Limited, Beam Suntory Inc. (Suntory Beverage & Food Ltd), Brown–Forman, Diageo Plc, Dos Lunas, El Agave Artesanal, El Grado Tequila, Jose Cuervo and Tequila Arette
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report

The global tequila market was valued at US$ 14.7 Billion in 2022.

We expect the global tequila market to exhibit a CAGR of 12.3% during 2023-2028.

The emerging trend of social drinking, along with the growing popularity of canned tequila cocktails, is currently driving the global tequila market.

The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary decline in on-premises sales of tequila. However, there is a rising demand for alcoholic beverages through e-commerce channels.

Based on the product type, the global tequila market has been segregated into Blanco, Reposado, Mixto Gold, Anejo, Joven, and Extra Anejo. Currently, Blanco tequila represents the largest market share.

Based on the purity, the global tequila market can be categorized into 100% tequila and 60% tequila, where 100% tequila currently exhibits a clear dominance in the market.

Based on the price range, the global tequila market has been divided into premium tequila, value tequila, premium and super-premium tequila, and ultra-premium tequila. Amongst these, premium and super-premium tequila currently accounts for the majority of the total market share.

Based on the distribution channel, the global tequila market can be bifurcated into off-trade and on- trade. Currently, on-trade channel holds the largest market share.

On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.

Some of the major players in the global tequila market include Ambhar Tequila, Bacardi Limited, Beam Suntory Inc. (Suntory Beverage & Food Ltd), Brown–Forman, Diageo Plc, Dos Lunas, El Agave Artesanal, El Grado Tequila, Jose Cuervo, Tequila Arette, etc.

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Tequila Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
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