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Tequila Market Size, Share, Trends, Growth, Industry Research And Global Forecast 2023-2032 | Major Players: Ambhar Tequila, Bacardi Limited, Diageo Plc, AMBHAR Global Spirits LLC., Pernod Ricard
Tequila Market Report
The Business Research Company's Tequila Global Market Report 2023 identifies growing consumers' inclination toward agave-based spirits as the major driver for the tequila market's growth in the forecast period. A drink termed agave alcohol is brewed from the fermented maguey (agave) plant's sap. It has been manufactured for centuries in central Mexico, where it is traditional. The popularity of agave spirits is growing in the United States as more Americans buy Mexican imports. Even retailers are making changes to make more shelf space available for tequila's growing sales.
The global tequila market size is expected to grow from $12.10 billion in 2022 to $13.35 billion in 2023 at a compound annual growth rate (CAGR) of 10.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global tequila market size is expected to reach $19.32 billion in 2027 at a CAGR of 9.7%.
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Major competitors in the tequila market are Ambhar Tequila, Bacardi Limited, Diageo Plc, AMBHAR Global Spirits LLC., Pernod Ricard.
A key trend in the tequila market includes product innovation. Major companies operating in the tequila market are focused on developing innovative products to strengthen their position in the market. For instance, in April 2022, Diageo, a UK-based multinational alcoholic beverage company, launched Astral Tequila in the US, premium tequila made from 100% blue Weber agave. Diageo is now reintroducing the product with beautiful and timeless new packaging, a fresh and distinctive recipe made in a new distillery that results in a new liquid, and new marketing initiatives.
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The tequila market is segmented -
•By Type: Blanco, Reposado, Anejo, Other Types
•By Purity: Premium Tequila, Value Tequila, Premium and Super-Premium Tequila, Ultra-Premium Tequila
•By Distribution Channel: On-Trade, Off-Trade
•By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the tequila market.
The Business Research Company's "Global Tequila Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Tequila Market Include:
1. Executive Summary
2. Tequila Market Characteristics
3. Tequila Market Trends And Strategies
4. Tequila Market - Macro Economic Scenario
5. Tequila Market Size And Growth
……
26. Africa Tequila Market
27. Tequila Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Tequila Market
29. Tequila Market Future Outlook and Potential Analysis
30. Appendix
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