Tequila Market Size & Share 2023-2030 Analysis by Key Players - Pernod Ricard, Constellation Brands, Inc and Brown-Forman Corporation

Tequila Market Report Scope -

The SNS Insider report indicates that the Tequila Market was valued at USD 9.89 billion in 2022, and it is projected to achieve a market size of USD 15.4 billion by 2030, with a compound annual growth rate (CAGR) of 5.7 % expected over the forecast period from 2023 to 2030.

Plant protein bars offer a convenient and nutritious option for those seeking to maintain their health and energy levels throughout the day. The growth of the tequila market is expected to be driven by increased awareness about health. Health consciousness refers to awareness of one self's health and well-being, mindfulness. The celebrity endorsement and marketing, which use their appeal and influence to promote businesses and products, have a significant impact on the sale of tequila. A powerful synergy that has a significant effect on consumer perceptions, preferences and buying choices is fostered by celebrity endorsement of tequila brands. In addition to the first endorsement, celebrity marketing has had a long-term impact on tequila production.

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Key Players Covered in this market report are:

Bacardi and Company Ltd
Diageo PLC
Pernod Ricard
Constellation Brands Inc
Suntory Holdings Limited
Brown-Forman Corporation
Proximo
Ambhar Global Spirits
LLC
Eastside Distilling
California Tequila Inc
Becel

Market Growth Factors -

The growing focus of consumers on their health and wellbeing can be attributed to the demand for bars made from plant proteins. The rising chronic diseases such as heart disease, diabetes, and obesity, have resulted in a shift in consumers' snacking preferences. In order to maintain good health, people are looking for healthier snack options that may provide them with the nourishment and stamina they need.

A lot of media attention is paid to popular celebrities who are known for their public endorsement of a specific tequila brand, such as mentions on Facebook, interviews and tabloid articles. Thanks to the celebrity's increased exposure in the media, the tequila company is able to reach a wider audience, including fans who may not have known about the liquor. As a result, consumers become more aware of the brand and are attracted to it. The celebrity endorsement has given the tequila sector a touch of glitz, desire.

Segmentation Analysis -

Blanco, reposado, anejo and others are included in the global tequila market segmentation on the basis of type. In 2022, the blanco segment was at the forefront. For its pure agave taste, blanco tequila is sought after. Since it is either unaged or has a short maturation period, the taste of the agave plant remains intact. This real and strong agave flavour is attracting the attention of the Tequila connoisseurs who seek an authentic and original taste of the spirit.

Value, premium, high-end premium and super premium are the global segmentation of the Tequila market on the basis of grade. In 2022, the value segment accounted for most of the market. Value products appeal to a broad range of consumers, from those who are on a tight budget and college students or amateurs in tequila. Maybe they don't have the extra money to buy more expensive tequilas, but these customers are still willing to drink it at least once a month.

Tequila Market Segmentation as Follows:

By Type
Blanco
Reposado
Anejo
Others

By Grade
Value
Premium
High-end Premium
Super Premium

By Distribution Channel
Off-Trade
On-Trade

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Key Regional Development -

The study provides market insight into North America, Europe, Asia Pacific and Rest of the World by region. In 2022, the North American Tequila market accounted for 45.81% of this market. Geographically, Mexico, the producer of tequila, is close to North America, in particular the United States. The proximity has allowed a wide variety of tequila brands and types to be readily available in the region, resulting in an intense taste for alcohol. In North America, the market for tequila was the biggest in terms of shares and Canada's Tequila Market is the fastest growing. In addition, the US, Canada, Germany, France, United Kingdom, Italy, Spain, China, Japan, India, Australia, South Korea and Brazil are key countries covered in this report. The 2nd largest market share is held by Europe's Tequila Market. The growing popularity of cocktails in Europe, as a result of consumers' interest and experimentation with various cocktail recipes, has led to an increase in this culture. Tequila's popularity on the European market has been driven by its reputation in cocktails, particularly classic margaritas and tequila sunrise. In addition, the German market accounted for the largest share of the global tequila market and the United Kingdom's Tequila market has grown rapidly.

Key Takeaway's-

The Agave Tequilana plant produces tequila, a distilled alcoholic beverage. They are fermented with other sweeteners, such as glucose or fructose and artificial flavouring agents. Depending on the duration of ageing, tequila's alcohol content, flavor and color will vary. Its moderate consumption aids digestion, increases the levels of beneficial bacteria in the gut, increases absorption of calcium and magnesium, and supports the growth of healthy bacteria in the gut. Tequila has compounds like agavins, which may have potential cardiovascular benefits, support for digestion, beneficial effect on blood sugar levels and weight management, antioxidants that could help to neutralize Free Radicals in the body, improve bone health or be an appropriate dietry supplement.

Recent Developments -

February 2022: Tres Generaciones, a brand of tequila owned by Suntory Holdings Limited, debuted aejo Cristalino, a new ultra-premium product. The transparent liquor was made by the master distillers of Tres Generaciones in La Presencia, Mexico.

February 2022: Under its reserva line-up, Avion, a Pernod Ricard company, debuted Avian Reserva Cristalino Tequila. To create a recently released tequila, a 12-month-old Aejo and a small amount of a 3-year-old Extra Anejo Reserva were mixed together.

Table of Content - Analysis of Key Points

1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession on Major Economies
5. Value Chain Analysis
6. Porter's 5 forces model
7. PEST Analysis
8. Segmentation, By Product Type
9. Tequila Market Segmentation, By Type
10. Tequila Market Segmentation, By Grade
11. Tequila Market Segmentation, By Distribution Channel
12. Regional Analysis
13. Company Profiles
14. Competitive Landscape
15. Conclusion

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