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Tequila Global Market Report 2025: Projected Market Size, Growth Drivers, and Key Trends
Tequila Market Size
What Is The Projected Market Size Of The Global Tequila Market And Its Growth Rate?
•The tequila market size, growing rapidly in recent years, will rise from $14.13 billion in 2024 to $15.83 billion in 2025 at a Compound Annual Growth Rate (CAGR) of 12.1%. This growth in the historic period can be attributed to significant factors, including cultural and lifestyle trends, rising popularity of cocktails, premiumization and craft trends, globalization of tequila consumption, and innovative marketing and branding strategies.
•Furthermore, the market size is anticipated to experience rapid growth in the following years. It is projected to reach $24.21 billion in 2029, growing at a CAGR of 11.2%. This can be ascribed to factors such as millennial and Gen Z consumers attraction, expanding cocktail culture, premiumization, brand diversification, and an escalating worldwide preference for Mexican spirits.
What Is Driving The Growth In The Tequila Global Market?
The growing consumers' inclination towards agave-based spirits is expected to drive the tequila market's growth. Agave alcohol, a traditional drink in central Mexico, is brewed from the fermented sap of the maguey (agave) plant. Its popularity is growing in the United States, with even retailers making more shelf space available considering tequila's escalating sales. In February 2022, according to a US-based CNBC report, sales of agave-based spirits surged by 30.1% year on year to USD 5.2 billion. This growing consumers' preference for agave-based spirits is significantly propelling the tequila market's growth.
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Who Are the Key Players Driving Tequila Market Growth?
Major companies operating in the tequila market include:
•Pernod Ricard SA
•Suntory Holdings Limited
•Asahi Group Holdings Ltd.
•Diageo plc
•Kirin Holdings Co Ltd.
•El Grado Tequila LLC
•Jose Cuervo S.A. de C.V.
•Dos Lunas Spirits LLC, and many others
What Are The Key Trends In The Tequila Market?
Key trends in the forecast period include:
•Exploration of non-agave spirits
•Globalization and international market growth
•Innovation in packaging and design
•Growth in digital marketing and e-commerce
•Cultural and educational initiatives
What Are The Segments Of The Global Tequila Market?
The tequila market covered in this report is segmented by:
1)Type: Blanco, Reposado, Anejo, Other Types
2)Purity: Premium Tequila, Value Tequila, Premium And Super-Premium Tequila, Ultra-Premium Tequila
3)Distribution Channel: On-Trade, Off-Trade
Which Region Leads The Tequila Global Market?
In 2024, North America dominated the tequila market. However, Asia-Pacific is anticipated to be the fastest-growing region in the global market during the following years. The tequila market report covers other regions including Western Europe, Eastern Europe, South America, Middle East, and Africa.
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What Is Covered In The Tequila Global Market Report 2025 Global Market Report?
- Market Size Analysis: Analyze the Tequila Global Market Report 2025 size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Tequila Global Market Report 2025 for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Tequila Global Market Report 2025 growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Tequila Global Market Report 2025.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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