The global tequila market is expected to reach $18.51 billion by 2028, growing at a CAGR of 4.32% during the forecasting period. The base year considered for the studied market is 2020, and the estimated years are between 2021 and 2028. The market study has also analyzed the impact of COVID-19 on the global tequila market qualitatively as well as quantitatively.
GLOBAL TEQUILA MARKET FORECAST 2021-2028
Global Tequila Market by Type (Value, Premium, Super-premium, High-end Premium) Market by Distribution Channels (Supermarkets & Hypermarkets, Liquor Specialist Stores, Online Retailing, Other Distribution Channels) by Geography.
The global tequila market is expected to reach $18.51 billion by 2028, growing at a CAGR of 4.32% during the forecasting period. The base year considered for the studied market is 2020, and the estimated years are between 2021 and 2028. The market study has also analyzed the impact of COVID-19 on the global tequila market qualitatively as well as quantitatively. 
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Key enablers fueling the global tequila market growth:
- Product innovations
- Since consumers look for new and distinctive flavors in their drinks, players respond by expanding their product lines with unique tastes. For instance, Dulce Vida Spirits added a new line of flavored tequilas to its product portfolio. In addition, it also introduced two new flavors, namely lime, and grapefruit.
- In 2020, Jose Cuervo launched the tequila-based seltzer drinks available in lime and grapefruit flavors. Such proactive product innovations are expected to attract consumers and bolster the global market’s growth.
- Demand for premium tequila
- Tequila perceived as a healthier drink
Key growth restraining factors:
- Geographically constrained to Mexico and North America
- Tequila is primarily sold in Mexico and North America, accounting for nine-tenths of total sales.
- In 2020, Mexico produced 374 million liters of tequila, the highest volume recorded since 1995, with nearly 77% of the production destined for exports. With about 254 liters exchanged, the United States was the top recipient of Mexican tequila exports in the same year.
- Furthermore, the global tequila market’s geographical concentration and overdependence on the United States as well as Mexico make it highly vulnerable to economic or political shocks emerging from the two key markets.
- Concerns related to raw materials
- Campaigns against alcohol consumption
The report on the global tequila market includes segmentation analysis on the basis of type and distribution channels.
Market by Type:
- Super-Premium
- The super-premium segment is anticipated to lead the type category with an estimated CAGR of 4.43%.
- Super-premium tequila is made with 100% agave and only the finest components. It is available in high-end packaging and costs more than $40 a liter.
- The demand for super-premium tequila is continually growing.
- Jose Cuervo, Patrón Silver, Patrida Eleganate Extra Aejo, Casamigos, Peligroso, and DeLeón Diamante are among of the most popular brands in this category.
- Premium
- Value
- High-End Premium
Geographically, the global tequila market has been segmented on the basis of four major regions, which includes:
- North America: The United States and Canada
- North America is anticipated to dominate the regional market, harboring a revenue share of 89% in 2020.
- Sauza, Patrón and Don Julio, and Jose Cuervo are the leading tequila brands in the United States.
- According to industry sources, tequila sales in the United States were estimated to be 23 million 9-liter cases in 2020. Besides, tequila net sales increased by 80% in the final six months of 2020.
- Several celebrities have also launched tequila brands in the United States and Canada.
- Moreover, tequila consumption in the United States has increased by more than 40% in the last five years. The country’s distillers are increasingly growing agave, thereby raising the demand for tequila in North America.
- Europe: The United Kingdom, Italy, Germany, France, Belgium, Poland, Russia, and Rest of Europe
- Asia-Pacific: China, Japan, India, South Korea, Indonesia, Thailand, Vietnam, Australia & New Zealand, and Rest of Asia-Pacific
- Rest of World: Latin America, the Middle East & Africa
Major players in the global tequila market:
- Jose Cuervo (Becle SAB De CV)
- Brown-Forman Corporation
- Bacardi & Co Ltd (Patron Tequila)
- Diageo PLC
- Beam Suntory Inc
- Pernod Ricard SA
Key strategies adopted by some of these companies:
With the debut of Tequila Komos Reposado Rosa in February 2021, CKBG (Casa Komos Beverage Group) revolutionized the Reposado category. Sazerac signed a distribution arrangement with Dyspatchr in Singapore in February 2021. Corazón Tequila, Buffalo Trace Bourbon, Eagle Rare Bourbon, and the recently established Jung and Wulff rum brand will all be available through Dyspatchr, which provides power quality products and connectivity solutions.
Key trends of the global tequila market:
- Cristalino tequila was created in 2011 by tequila manufacturer Don Julio, one of Mexico’s most well-known tequila producers. Cristalino tequila surpassed Reposado as the most popular super-premium expression. Moreover, Mexico has over 50 kinds of cristalino tequila, with nearly a dozen of them accessible in the United States.
- The United States and Mexico observe an ongoing trend of tequila startups. For instance, in November 2020, Elon Musk launched Teslaquila or Tesla Tequila.
- While A-listers have become the faces of several well-known companies, celebrity sponsorships also constitute a significant part of the tequila business. For example, in 2020, Dwayne “The Rock” Johnson started Teremana Tequila Blanco, an ultra-premium tequila.
Frequently Asked Questions (FAQs):
- Which is the fastest-growing distribution channel in the tequila market?
A: Online retailing is the fastest-growing distribution channel in the tequila market.
- What are the most popular tequila types in the tequila market?
A: Premium and super-premium are the most popular tequila types in the tequila market.
- What are the new flavors introduced in the tequila market?
A: Lime, grapefruit, cinnamon orange, and watermelon are the new flavors introduced in the tequila market.
- RESEARCH SCOPE & METHODOLOGY
- STUDY OBJECTIVES
- SCOPE OF STUDY
- METHODOLOGY
- ASSUMPTIONS & LIMITATIONS
- EXECUTIVE SUMMARY
- MARKET SIZE & ESTIMATES
- MARKET OVERVIEW
- MARKET DYNAMICS
- KEY DRIVERS
- DEMAND FOR PREMIUM TEQUILA
- PRODUCT INNOVATIONS
- PERCEIVED AS HEALTHIER DRINK
- KEY RESTRAINTS
- GEOGRAPHICALLY CONSTRAINED TO MEXICO AND NORTH AMERICA
- CONCERNS RELATED TO RAW MATERIALS
- CAMPAIGNS AGAINST ALCOHOL CONSUMPTION
- KEY DRIVERS
- KEY ANALYTICS
- IMPACT OF COVID-19 ON TEQUILA MARKET
- KEY MARKET TRENDS
- PORTER’S FIVE FORCES ANALYSIS
- BUYERS POWER
- SUPPLIERS POWER
- SUBSTITUTION
- NEW ENTRANTS
- INDUSTRY RIVALRY
- OPPORTUNITY MATRIX
- VENDOR LANDSCAPE
- MARKET BY TYPE
- VALUE
- PREMIUM
- SUPER-PREMIUM
- HIGH-END PREMIUM
- MARKET BY DISTRIBUTION CHANNELS
- SUPERMARKETS & HYPERMARKETS
- LIQUOR SPECIALIST STORES
- ONLINE RETAILING
- OTHER DISTRIBUTION CHANNELS
- GEOGRAPHICAL ANALYSIS
- NORTH AMERICA
- MARKET SIZE & ESTIMATES
- KEY DRIVERS
- KEY CHALLENGES
- KEY PLAYERS
- COUNTRY ANALYSIS
- UNITED STATES
- CANADA
- EUROPE
- MARKET SIZE & ESTIMATES
- KEY DRIVERS
- KEY CHALLENGES
- KEY PLAYERS
- COUNTRY ANALYSIS
- UNITED KINGDOM
- GERMANY
- FRANCE
- ITALY
- RUSSIA
- BELGIUM
- POLAND
- REST OF EUROPE
- ASIA-PACIFIC
- MARKET SIZE & ESTIMATES
- KEY DRIVERS
- KEY CHALLENGES
- KEY PLAYERS
- COUNTRY ANALYSIS
- CHINA
- JAPAN
- INDIA
- SOUTH KOREA
- INDONESIA
- THAILAND
- VIETNAM
- AUSTRALIA & NEW ZEALAND
- REST OF ASIA-PACIFIC
- REST OF THE WORLD
- MARKET SIZE & ESTIMATES
- KEY DRIVERS
- KEY CHALLENGES
- REGIONAL ANALYSIS
- LATIN AMERICA
- MIDDLE EAST & AFRICA
- NORTH AMERICA
- COMPETITIVE LANDSCAPE
- KEY STRATEGIC DEVELOPMENTS
- MERGERS & ACQUISITIONS
- PRODUCT LAUNCHES & DEVELOPMENTS
- PARTNERSHIPS & AGREEMENTS
- BUSINESS EXPANSIONS
- COMPANY PROFILES
- ANHEUSER-BUSCH INBEV
- ASAHI GROUP HOLDINGS LTD
- BACARDI & CO LTD (PATRÓN TEQUILA)
- BEAM SUNTORY INC
- BROWN-FORMAN CORPORATION
- CONSTELLATION BRANDS
- DIAGEO PLC (CASAMIGOS TEQUILA)
- E. & J. GALLO WINERY INC
- JOSE CUERVO (BECLE SAB DE CV)
- LA MARTINIQUAISE
- LUXCO INC
- PERNOD RICARD SA
- SAZERAC COMPANY INC
- TEQUILA CENTINELA
- KEY STRATEGIC DEVELOPMENTS
LIST OF TABLES
TABLE 1: MARKET SNAPSHOT – TEQUILA
TABLE 2: GLOBAL TEQUILA MARKET, BY TYPE, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)
TABLE 3: GLOBAL TEQUILA MARKET, BY TYPE, FORECAST YEARS, 2021-2028 (IN $ MILLION)
TABLE 4: GLOBAL VALUE MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)
TABLE 5: GLOBAL VALUE MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)
TABLE 6: GLOBAL PREMIUM MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)
TABLE 7: GLOBAL PREMIUM MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)
TABLE 8: GLOBAL SUPER-PREMIUM MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)
TABLE 9: GLOBAL SUPER-PREMIUM MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)
TABLE 10: GLOBAL HIGH-END PREMIUM MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)
TABLE 11: GLOBAL HIGH-END PREMIUM MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)
TABLE 12: GLOBAL TEQUILA MARKET, BY DISTRIBUTION CHANNELS, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)
TABLE 13: GLOBAL TEQUILA MARKET, BY DISTRIBUTION CHANNELS, FORECAST YEARS, 2021-2028 (IN $ MILLION)
TABLE 14: GLOBAL SUPERMARKETS & HYPERMARKETS MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)
TABLE 15: GLOBAL SUPERMARKETS & HYPERMARKETS MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)
TABLE 16: GLOBAL LIQUOR SPECIALIST STORES MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)
TABLE 17: GLOBAL LIQUOR SPECIALIST STORES MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)
TABLE 18: GLOBAL ONLINE RETAILING MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)
TABLE 19: GLOBAL ONLINE RETAILING MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)
TABLE 20: GLOBAL OTHER DISTRIBUTION CHANNELS MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)
TABLE 21: GLOBAL OTHER DISTRIBUTION CHANNELS MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)
TABLE 22: GLOBAL TEQUILA MARKET, BY GEOGRAPHY, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)
TABLE 23: GLOBAL TEQUILA MARKET, BY GEOGRAPHY, FORECAST YEARS, 2021-2028 (IN $ MILLION)
TABLE 24: NORTH AMERICA TEQUILA MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)
TABLE 25: NORTH AMERICA TEQUILA MARKET, BY COUNTRY, FORECAST YEARS, 2021-2028 (IN $ MILLION)
TABLE 26: KEY PLAYERS IN NORTH AMERICA TEQUILA MARKET
TABLE 27: EUROPE TEQUILA MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)
TABLE 28: EUROPE TEQUILA MARKET, BY COUNTRY, FORECAST YEARS, 2021-2028 (IN $ MILLION)
TABLE 29: KEY PLAYERS IN EUROPE TEQUILA MARKET
TABLE 30: TOP TEQUILA BUYERS IN BELGIUM
TABLE 31: ASIA-PACIFIC TEQUILA MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)
TABLE 32: ASIA-PACIFIC TEQUILA MARKET, BY COUNTRY, FORECAST YEARS, 2021-2028 (IN $ MILLION)
TABLE 33: KEY PLAYERS IN ASIA-PACIFIC TEQUILA MARKET
TABLE 34: REST OF THE WORLD TEQUILA MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)
TABLE 35: REST OF THE WORLD TEQUILA MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)
TABLE 36: KEY PLAYERS IN REST OF THE WORLD TEQUILA MARKET
TABLE 37: MEXICO’S EXPORTS OF TEQUILA FROM 2016-2020 (IN MILLION LITERS)
TABLE 38: LIST OF MERGERS & ACQUISITIONS
TABLE 39: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS
TABLE 40: LIST OF PARTNERSHIPS & AGREEMENTS
TABLE 41: LIST OF BUSINESS EXPANSIONS
LIST OF FIGURES
FIGURE 1: PRODUCTION PROCESS OF TEQUILA
FIGURE 2: TEQUILA EXPORT COUNTRIES IN 2020 (LITERS IN MILLIONS)
FIGURE 3: KEY MARKET TRENDS
FIGURE 4: PORTER’S FIVE FORCES ANALYSIS
FIGURE 5: OPPORTUNITY MATRIX
FIGURE 6: VENDOR LANDSCAPE
FIGURE 7: GLOBAL TEQUILA MARKET, GROWTH POTENTIAL, BY TYPE, IN 2020
FIGURE 8: GLOBAL TEQUILA MARKET, BY VALUE, 2021-2028 (IN $ MILLION)
FIGURE 9: GLOBAL TEQUILA MARKET, BY PREMIUM, 2021-2028 (IN $ MILLION)
FIGURE 10: GLOBAL TEQUILA MARKET, BY SUPER-PREMIUM, 2021-2028 (IN $ MILLION)
FIGURE 11: GLOBAL TEQUILA MARKET, BY HIGH-END PREMIUM, 2021-2028 (IN $ MILLION)
FIGURE 12: GLOBAL TEQUILA MARKET, GROWTH POTENTIAL, BY DISTRIBUTION CHANNELS, IN 2020
FIGURE 13: GLOBAL TEQUILA MARKET, BY SUPERMARKETS & HYPERMARKETS, 2021-2028 (IN $ MILLION)
FIGURE 14: GLOBAL TEQUILA MARKET, BY LIQUOR SPECIALIST STORES, 2021-2028 (IN $ MILLION)
FIGURE 15: GLOBAL TEQUILA MARKET, BY ONLINE RETAILING, 2021-2028 (IN $ MILLION)
FIGURE 16: GLOBAL TEQUILA MARKET, BY OTHER DISTRIBUTION CHANNELS, 2021-2028 (IN $ MILLION)
FIGURE 17: GLOBAL TEQUILA MARKET, REGIONAL OUTLOOK, 2020 & 2028 (IN %)
FIGURE 18: NORTH AMERICA TEQUILA MARKET, REGIONAL OUTLOOK, 2020 & 2028 (IN %)
FIGURE 19: UNITED STATES TEQUILA MARKET, 2021-2028 (IN $ MILLION)
FIGURE 20: CANADA TEQUILA MARKET, 2021-2028 (IN $ MILLION)
FIGURE 21: EUROPE TEQUILA MARKET, REGIONAL OUTLOOK, 2020 & 2028 (IN %)
FIGURE 22: UNITED KINGDOM TEQUILA MARKET, 2021-2028 (IN $ MILLION)
FIGURE 23: GERMANY TEQUILA MARKET, 2021-2028 (IN $ MILLION)
FIGURE 24: FRANCE TEQUILA MARKET, 2021-2028 (IN $ MILLION)
FIGURE 25: ITALY TEQUILA MARKET, 2021-2028 (IN $ MILLION)
FIGURE 26: RUSSIA TEQUILA MARKET, 2021-2028 (IN $ MILLION)
FIGURE 27: BELGIUM TEQUILA MARKET 2021-2028 (IN $ MILLION)
FIGURE 28: POLAND TEQUILA MARKET, 2021-2028 (IN $ MILLION)
FIGURE 29: REST OF EUROPE TEQUILA MARKET, 2021-2028 (IN $ MILLION)
FIGURE 30: ASIA-PACIFIC TEQUILA MARKET, REGIONAL OUTLOOK, 2020 & 2028 (IN %)
FIGURE 31: CHINA TEQUILA MARKET, 2021-2028 (IN $ MILLION)
FIGURE 32: JAPAN TEQUILA MARKET, 2021-2028 (IN $ MILLION)
FIGURE 33: INDIA TEQUILA MARKET, 2021-2028 (IN $ MILLION)
FIGURE 34: SOUTH KOREA TEQUILA MARKET, 2021-2028 (IN $ MILLION)
FIGURE 35: INDONESIA TEQUILA MARKET, 2021-2028 (IN $ MILLION)
FIGURE 36: THAILAND TEQUILA MARKET, 2021-2028 (IN $ MILLION)
FIGURE 37: VIETNAM TEQUILA MARKET, 2021-2028 (IN $ MILLION)
FIGURE 38: AUSTRALIA & NEW ZEALAND TEQUILA MARKET, 2021-2028 (IN $ MILLION)
FIGURE 39: REST OF ASIA-PACIFIC TEQUILA MARKET, 2021-2028 (IN $ MILLION)
FIGURE 40: REST OF THE WORLD TEQUILA MARKET, REGIONAL OUTLOOK, 2020 & 2028 (IN %)
FIGURE 41: LATIN AMERICA TEQUILA MARKET, 2021-2028 (IN $ MILLION)
FIGURE 42: MIDDLE EAST & AFRICA TEQUILA MARKET, 2021-2028 (IN $ MILLION)
- MARKET BY TYPE
- VALUE
- PREMIUM
- SUPER-PREMIUM
- HIGH-END PREMIUM
- MARKET BY DISTRIBUTION CHANNELS
- SUPERMARKETS & HYPERMARKETS
- LIQUOR SPECIALIST STORES
- ONLINE RETAILING
- OTHER DISTRIBUTION CHANNELS
- GEOGRAPHICAL ANALYSIS
- NORTH AMERICA
- MARKET SIZE & ESTIMATES
- KEY DRIVERS
- KEY CHALLENGES
- KEY PLAYERS
- COUNTRY ANALYSIS
- UNITED STATES
- CANADA
- EUROPE
- MARKET SIZE & ESTIMATES
- KEY DRIVERS
- KEY CHALLENGES
- KEY PLAYERS
- COUNTRY ANALYSIS
- UNITED KINGDOM
- GERMANY
- FRANCE
- ITALY
- RUSSIA
- BELGIUM
- POLAND
- REST OF EUROPE
- ASIA-PACIFIC
- MARKET SIZE & ESTIMATES
- KEY DRIVERS
- KEY CHALLENGES
- KEY PLAYERS
- COUNTRY ANALYSIS
- CHINA
- JAPAN
- INDIA
- SOUTH KOREA
- INDONESIA
- THAILAND
- VIETNAM
- AUSTRALIA & NEW ZEALAND
- REST OF ASIA-PACIFIC
- REST OF THE WORLD
- MARKET SIZE & ESTIMATES
- KEY DRIVERS
- KEY CHALLENGES
- REGIONAL ANALYSIS
- LATIN AMERICA
- MIDDLE EAST & AFRICA
- NORTH AMERICA
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