Press release
Tequila Market Size To Exceed US$ 41.5 Billion by 2031, CAGR Of 10.7% | Tequila Cuervo La Rojeña, S.A. de C.V
Tequila Market
Tequila is a distilled beverage made from the blue agave plant that is primarily consumed as a spirit. Its production concentrates on Jalisco, Mexico. Tequila comes in several varieties based on aging periods - blanco, reposado, añejo and extra añejo.
Market Dynamics:
The global Tequila market is expected to witness significant growth over the forecast period owing to rising popularity among millennials and new product launches with varied tastes. The tequila market is driven by the rising demand for premium and super premium tequila products among young consumers who are willing to pay higher prices for higher quality products. Furthermore, the growing culture of socializing and partying especially in North American countries has led to an increased consumption of tequila based cocktails particularly margaritas, which is supporting the market growth. The introduction of flavored tequila such as watermelon, grapefruit, pineapple etc. is also augmenting the market expansion.
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Tequila Market Opportunity
Growing popularity of cocktails and mixed drinks
Mixology is having a moment globally with more experimentation happening in crafting new cocktail recipes. Tequila works very well in various cocktails like margaritas, palomas, tequila sunrises etc. Younger consumers especially in their 20s and 30s are open to trying new flavors and are major patrons of bars, clubs and restaurants. Establishments are coming up with innovative tequila based cocktails on their menus which is driving up the consumption considerably. Product launches focusing on cocktails and premix solutions provide an opportunity for tequila brands to target new audiences and drive trial through the experience of enjoying tequila in cocktails.
Tequila Market Trends
Premiumization and diversification of product portfolio
Leading tequila companies are focusing on premiumization through introduction of more super premium and luxury brands, limited releases and special variants finished in rare barrels. Diversification in product ranges targeted at different price tiers and occasions is another observed trend. For example, Craft distillers are bringing out 100% agave blanco tequilas at affordable price points for shots and mixed drinks, while aged variants and ultra-premium brands are positioned for sipping neat. Flavored infusions with fruits like grapefruit, lime and coffee are expanding the consumer base beyond the traditional. Innovation in packaging like gift packs is also enhancing the aesthetics and gift worthiness of tequila bottles.
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Top Companies Featured in This Report:
★ Tequila Cuervo La Rojeña
★ S.A. de C.V
★ Don Julio
★ Tequilera Corralejo S.A. de C.V.
★ Tequila512
★ AMBHAR Global Spirits LLC.
★ Dos Lunas Spirits LLC
★ El Grado
★ Tequilera de Arandas Company
★ Cascahuin Distillery
★ William Grant & Sons Inc. amongst others.
Market Segmentation:
By Product Type:
★ 100% Tequila
★ Mixed
★ Blanco
★ Joven
★ Mixto Gold
★ Reposado
★ Anejo
★ Extra Anejo
★ B2B
★ B2C
★ E-commerce
Key Regions/Countries Classified as Follows:
» North America (U.S., Canada, Mexico)
» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
» South America (Brazil, Argentina, Rest of SA)
» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
The report offers insights on the following aspects:
Chapter 1: Study Coverage
Chapter 2: Executive Summary
Chapter 3: Analysis of Tequila Market Competition Landscape by Players
Chapter 4: Assessment of Tequila Market Size by Type and Application
Chapter 5: Global and Regional Analysis
Chapter 6: Company Profiles, recent developments, and investments
Chapter 7: Analysis of Market Opportunities, Challenges, Risks, and Influencing Factors
Chapter 8: Evaluation of Value Chain and Sales Channels, including breakthrough product developments
Chapter 9: Research Findings and Conclusion
Chapter 10: Methodology/Research Approach
The report also delves into the competitive landscape, key players, trade patterns, industry value chain, recent news, policies, and regulations. Should you have any inquiries or require customization options, please don't hesitate to contact us.
In summary, whether you're engaged in manufacturing, distribution, or investment within the Tequila sector, this report furnishes invaluable insights into market segments, drivers, challenges, investment prospects, regional dynamics, major players, growth strategies, prevailing trends, and hurdles influencing the industry's expansion.
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Author Bio:
Priya Pandey is a dynamic and passionate editor with over three years of expertise in content editing and proofreading. Holding a bachelor's degree in biotechnology, Priya has a knack for making the content engaging. Her diverse portfolio includes editing documents across different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. Priya's meticulous attention to detail and commitment to excellence make her an invaluable asset in the world of content creation and refinement.
(LinkedIn- https://www.linkedin.com/in/priya-pandey-8417a8173/)
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