The global tequila market reached a value of US$ 10.8 Billion in 2020. Looking forward, the market is projected to reach US$ 25.4 Billion by 2026, growing at a CAGR of 14.4% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end-use industries. These insights are included in the report as a major market contributor.
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.
Global Tequila Market Trends and Drivers:
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.
IMARC Group provides an analysis of the key trends in each sub-segment of the global tequila market report, along with forecasts for growth at the global, regional and country-level from 2021-2026. Our report has categorized the market based on region, product type, purity, price range, and distribution channel.
Breakup by Product Type:
Breakup by Purity:
Breakup by Price Range:
Breakup by Distribution Channel:
Breakup by Region:
The report has also analysed the competitive landscape of the market with some of the key players:
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