The global tequila market size was US$ 12.8 billion in 2021. The global tequila market size is estimated to reach US$ 22.7 billion by 2030, growing at a compound annual growth rate (CAGR) of 6.6% during the forecast period from 2022 to 2030.
Tequila is a distilled liquor and is created from blue agave plants that only grow in distinct regions of Mexico, such as Tamaulipas and Jalisco. It is made by distilling the fermented liquid of the Weber blue agave plant. It was situated in a lesser-known culture on the South American continent. It has an unusual earthy flavor with an alcoholic rush. Trusting on where the agave was developed and the style. There are four types of tequila known in the market they are Blanco, reposado, anejo, and
joven.
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Factors Affecting Marketing Growth
With the altering lifestyles and growing disposable income, handcrafted variants are gaining more traction around the world which is expected to drive the growth of the global market.
COVID-19 boosted the sales of tequila through e-commerce media, which drives the growth of the global market.
The rise in penetration of e-commerce sales is anticipated to drive the growth of the global market.
The growing rage of spirits among youths propels the growth of the global market.
Impact on COVID-19 Analysis
The COVID-19 outbreak had a positive impact on the growth of the global market, as the shutdown of retail stores and liquor shops has reduced the sales of the retail liquor market and moved the client focus toward online media. The post-COVID-19 plan is expected beneficial for the e-commerce liquor market owing to the growth in the use of e-commerce platforms and restrictions to control the masses.
Regional Analysis
North America had the highest share of the market in 2021 and is anticipated to grow at a substantial CAGR during the forecast period. The increase in the need for tequila in different business sectors such as bars, restaurants, and pubs is propelling the growth of the global market in the region. The consumption of tequila in the region is extremely increasing because agave-based spirits are resulting in more and more popular among Mexicans and Americans.
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Leading Competitors
The prominent players in the global tequila market are:
Proximo
Global Spirits
California Tequila Inc
Brown-Forman Corporation
Eastside Distilling
Constellation Brands Inc.
Pernod Ricard
Ambhar Llc
Bacardi Limited
Diageo Plc
Others
Segmentation Analysis
The global tequila market segmentation focuses on Type, Price Range, Distribution Channel, and Region.
Segmentation on the basis of Type
Tequila Anejo
Tequila Joven
Tequila Blanco
Tequila Reposado
Segmentation on the basis of Price Range
Economy
Premium
Segmentation on the basis of Distribution Channel
B2C
B2B
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Segmentation on the basis of Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
Reasons to Buy This Report
(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of Tequila market revenues on a global, regional, and country level, projecting trends until 2031. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the Tequila market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the Tequila market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate Tequila business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
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