Tequila Market Foreseen to Grow exponentially over 2025

Cocktail culture has gain momentum across various societies. Improvement in economic condition of individuals has been a driving force for the cocktail culture. The demand for tequila in cocktails is not confine to bars and restaurants; it has also gained spaces in parties organized at homes. It can also be observed that a market shift, especially in the younger population, from binge drinking to more sophisticated drinking such as tequila. Moreover, in 21st century with change in outlook and more broadness in human way of thinking, drinking of tequila has been irrespective of any sex.

In country such as U.S., there has been increase in demand of handcrafted tequila. As per data provided by Distilled Spirits Council’s Economic & Strategic Analysis Department tequila consumption volume raised from 7 million 9 liters cases in 2003 to 15 million 9 liters cases in 2015. Economic improvement of individuals, improvement in infrastructure of places across countries are also few of the possible drivers, which is contributing towards tequila market growth.

The Asia-Pacific except Japan region accounts for significantly high volume share in the global tequila market owing to change in consumer behavior. Eastern Europe and Japan also accounts for significant value share in the tequila market over the forecast period, in past few years’ people in these regions are preferring tequila over other alcoholic drinks due to prevalence of perception that tequila is much more sophisticated and less of harmful compared to other drinks.

In MEA due to prevalence of Islamic culture mostly, drinking of alcoholic beverages is limited, therefore the growth of tequila market is not so optimistic. In Latin America, tequila market has been quite healthy. Since, Mexico is the origin of excellent and authentic tequila, most Latin countries are more likely to have affinity for tequila compared to other nations. The market is significantly growing in Latin America.

Tequila: Key Players

The major players identified in the global tequila market includes:

José Cuervo,Don Julio,Casa CorralejoTequila512,Ambhar,Dos Lunas,El Grado

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