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Global Tequila Market Size, Share, Trends, Report: By Product Type: Blanco, Joven, Mixto Gold, Reposado, Anejo; By Price Range: Standard, Premium, Super-Premium and Ultra-Premium; By Distribution Channel: B2B, B2C; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; 2023-2028
Global Tequila Market Outlook
The global tequila market size attained approximately USD 11.2 billion in 2022. The market is estimated to grow at a CAGR of 6.00% in the forecast period of 2023-2028, reaching a value of around USD 15.9 billion by 2028.
Key Trends in the Market
Tequila, originating from Mexico, is a distilled beverage made primarily from the juices of the blue agave plant. It is an alcoholic beverage that can be enjoyed neat or used as a base for cocktails.
- The growing popularity of mixing various spirits to formulate a cocktail drink is one of the prominent tequila market trends. Mixologists are experimenting with a variety of tequilas to cater to the burgeoning consumer interest in unique flavoured cocktails.
- Increased trend of premiumisation in spirits due to evolving consumer drinking habits, rise in disposable income, and rapid urbanisation is expected to boost the demand for high-end and sophisticated tequila-based drinks.
- Efforts by market players to expand their product line by introducing new flavours such as floral, turmeric, pumpkin, and grapefruit, among others, are also expected to fuel the tequila market growth.
- Several tequila brands are implementing sustainable methods such as the utilisation of rainwater for agave irrigation and the conversion of leftover agave into compost to reduce the environmental impact of agave plant production and meet the evolving demands of environmentally conscious customers.
Global Market Analysis
Based on product type, the market is classified into blanco, joven, mixto gold, reposado, and anejo. The tequila market segmentation, on the basis of price range, includes standard, premium, and super-premium and ultra-premium.
Based on distribution channel, the market is bifurcated into B2B and B2C. The B2C segment is further categorised based on type into supermarkets and hypermarkets, speciality stores, and online, among others. The major regional markets for tequila are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the tequila market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- Bacardi Limited
- Diageo Plc
- Constellation Brands, Inc.
- Pernod Ricard S.A.
- Beam Suntory Inc.
- Ambhar Global Spirits, LLC
- Brown-Forman Corporation
- Davide Campari-Milano N.V
- Casa Aceves
- Proximo Spirits, Inc.
- Others
Market Share by Product Type
Blanco occupies a substantial portion of the global tequila market share due to its earthy and distinct flavour. Furthermore, its easy availability and high concentration of alcohol also contribute to its high demand among consumers. It makes an excellent base for cocktails due to its clean and bold flavour and its ability to be mixed in a variety of drinks, ranging from classic margaritas to exotic cocktails. Additionally, it is a preferred drink of choice among health-conscious consumers due to the presence of fewer additives and sugar compared to other traditional spirits.
Market Share by Region
As per the regional tequila market analysis, North America accounts for a sizeable share of the global market due to the high demand for agave-based spirits. The demand for premium quality spirits is also on the rise, which prompts manufacturers to produce tequila with natural flavours. Moreover, increased implementation of tequila in crafting different cocktail drinks also provides market growth opportunities.
Meanwhile, Latin America is witnessing significant growth as Mexico has several regulatory laws that monitor the quality of soil and water at tequila distilleries to boost the production of agave plants in the country.
Competitive Landscape
Bacardi Limited, established in 1862, is a privately held spirits company with its headquarters in Hamilton, Bermuda. Some of its popular products include rum, vodka, tequila, wine, and beer, among others.
Diageo Plc, a multinational alcoholic beverages company, was incorporated in 1997 and based in London, the United Kingdom. Its product portfolio includes tequila, scotch, whisky, gin, and non-alcoholic products.
Constellation Brands, Inc. is one of the leading manufacturers of alcoholic beverages and was founded in 1945. The company, based in New York, the United States, produces its products under the brand names Corona Light, Corona Premier, Casa Noble, and Mi CAMPO, among others.
Other tequila market players include Pernod Ricard S.A., Beam Suntory Inc., Ambhar Global Spirits, LLC, Brown-Forman Corporation, Davide Campari-Milano N.V, Casa Aceves, and Proximo Spirits, Inc., among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product Type |
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| Breakup by Price Range |
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| Breakup by Distribution Channel |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Tequila Market Analysis
8.1 Key Industry Highlights
8.2 Global Tequila Historical Market (2018-2022)
8.3 Global Tequila Market Forecast (2023-2028)
8.4 Global Tequila Market by Product Type
8.4.1 Blanco
8.4.1.1 Historical Trend (2018-2022)
8.4.1.2 Forecast Trend (2023-2028)
8.4.2 Joven
8.4.2.1 Historical Trend (2018-2022)
8.4.2.2 Forecast Trend (2023-2028)
8.4.3 Mixto Gold
8.4.3.1 Historical Trend (2018-2022)
8.4.3.2 Forecast Trend (2023-2028)
8.4.4 Reposado
8.4.4.1 Historical Trend (2018-2022)
8.4.4.2 Forecast Trend (2023-2028)
8.4.5 Anejo
8.4.5.1 Historical Trend (2018-2022)
8.4.5.2 Forecast Trend (2023-2028)
8.5 Global Tequila Market by Price Range
8.5.1 Standard
8.5.1.1 Historical Trend (2018-2022)
8.5.1.2 Forecast Trend (2023-2028)
8.5.2 Premium
8.5.2.1 Historical Trend (2018-2022)
8.5.2.2 Forecast Trend (2023-2028)
8.5.3 Super-Premium and Ultra-Premium
8.5.3.1 Historical Trend (2018-2022)
8.5.3.2 Forecast Trend (2023-2028)
8.6 Global Tequila Market by Distribution Channel
8.6.1 B2B
8.6.1.1 Historical Trend (2018-2022)
8.6.1.2 Forecast Trend (2023-2028)
8.6.2 B2C
8.6.2.1 Historical Trend (2018-2022)
8.6.2.2 Forecast Trend (2023-2028)
8.6.2.3 Market by Type
8.6.2.3.1 Supermarkets and Hypermarkets
8.6.2.3.2 Speciality Stores
8.6.2.3.3 Online
8.6.2.3.4 Others
8.7 Global Tequila Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2022)
8.7.1.2 Forecast Trend (2023-2028)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2022)
8.7.2.2 Forecast Trend (2023-2028)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2022)
8.7.3.2 Forecast Trend (2023-2028)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2022)
8.7.4.2 Forecast Trend (2023-2028)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2022)
8.7.5.2 Forecast Trend (2023-2028)
9 North America Tequila Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
10 Europe Tequila Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2022)
10.1.2 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Historical Trend (2018-2022)
10.2.2 Forecast Trend (2023-2028)
10.3 France
10.3.1 Historical Trend (2018-2022)
10.3.2 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Historical Trend (2018-2022)
10.4.2 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Tequila Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2022)
11.1.2 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Historical Trend (2018-2022)
11.2.2 Forecast Trend (2023-2028)
11.3 India
11.3.1 Historical Trend (2018-2022)
11.3.2 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Historical Trend (2018-2022)
11.4.2 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Historical Trend (2018-2022)
11.5.2 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Tequila Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2022)
12.1.2 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Historical Trend (2018-2022)
12.2.2 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Historical Trend (2018-2022)
12.3.2 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Tequila Market Analysis
13.1 Turkey
13.1.1 Historical Trend (2018-2022)
13.1.2 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2022)
13.2.2 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Historical Trend (2018-2022)
13.3.2 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Historical Trend (2018-2022)
13.4.2 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Bacardi Limited
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Diageo Plc
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Constellation Brands, Inc.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Pernod Ricard S.A.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Beam Suntory Inc.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Ambhar Global Spirits, LLC
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Brown-Forman Corporation
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Davide Campari-Milano N.V
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Casa Aceves
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Proximo Spirits, Inc.
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Tequila Market: Key Industry Highlights, 2018 and 2028
2. Global Tequila Historical Market: Breakup by Product Type (USD Billion), 2018-2022
3. Global Tequila Market Forecast: Breakup by Product Type (USD Billion), 2023-2028
4. Global Tequila Historical Market: Breakup by Price Range (USD Billion), 2018-2022
5. Global Tequila Market Forecast: Breakup by Price Range (USD Billion), 2023-2028
6. Global Tequila Historical Market: Breakup by Distribution Channel (USD Billion), 2018-2022
7. Global Tequila Market Forecast: Breakup by Distribution Channel (USD Billion), 2023-2028
8. Global Tequila Historical Market: Breakup by Region (USD Billion), 2018-2022
9. Global Tequila Market Forecast: Breakup by Region (USD Billion), 2023-2028
10. North America Tequila Historical Market: Breakup by Country (USD Billion), 2018-2022
11. North America Tequila Market Forecast: Breakup by Country (USD Billion), 2023-2028
12. Europe Tequila Historical Market: Breakup by Country (USD Billion), 2018-2022
13. Europe Tequila Market Forecast: Breakup by Country (USD Billion), 2023-2028
14. Asia Pacific Tequila Historical Market: Breakup by Country (USD Billion), 2018-2022
15. Asia Pacific Tequila Market Forecast: Breakup by Country (USD Billion), 2023-2028
16. Latin America Tequila Historical Market: Breakup by Country (USD Billion), 2018-2022
17. Latin America Tequila Market Forecast: Breakup by Country (USD Billion), 2023-2028
18. Middle East and Africa Tequila Historical Market: Breakup by Country (USD Billion), 2018-2022
19. Middle East and Africa Tequila Market Forecast: Breakup by Country (USD Billion), 2023-2028
20. Global Tequila Market Structure
Key Questions Answered in the Report
In 2022, the market reached an approximate value of USD 11.2 billion.
The market is projected to grow at a CAGR of 6.00% between 2023 and 2028.
The market is estimated to witness a healthy growth in the forecast period of 2023-2028, reaching a value of around USD 15.9 billion by 2028.
The major market drivers are the increased momentum of cocktail culture across the world and the popularity of tequila among health-conscious consumers due to its low calorie and sugar content.
The key trends of the market include the growing popularity of mixing spirits in cocktails, increasing consumption of premium spirits, the launch of new products with unique flavours, and the implementation of sustainable agave plantation methods by key players.
The major regions in the market are North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The various product types are blanco, joven, mixto gold, reposado, and anejo.
The key players in the market are Bacardi Limited, Diageo Plc, Constellation Brands, Inc., Pernod Ricard S.A., Beam Suntory Inc., Ambhar Global Spirits, LLC, Brown-Forman Corporation, Davide Campari-Milano N.V, Casa Aceves, and Proximo Spirits, Inc., among others.
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