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According to the latest research, the global Tequila market size was valued at USD 8988.39 million in 2022 and is expected to expand at a CAGR of 10.33% during the forecast period, reaching USD 16214.9 million by 2028.
Tequila is an alcoholic drink made from the heart of the agave plant, which belongs to the category of distilled spirits. The young tequila has prominent acidity with notes of citrus and coffee. The aged agave has a rounder and softer taste, developing woody, vanilla, and caramel flavors similar to aged whiskey. Tequila is often used as a base wine to make various cocktails, and it can compete with whiskey and vodka. It is the national drink of Mexico.
Consumer demand for premium spirits is growing
Premiumization has become a trend in recent years as consumers value quality over quantity. As consumers shift towards refined and premium beverages, subsequently triggering the demand for such products. According to the International Wine & Spirits Research (IWSR), by 2020, due to consumer demand for premium spirits and cocktails. The premiumization trend is widespread across European countries as consumers shift their attention to craft breweries and locally produced beverages. Moreover, these small craft distilleries are offering new propositions and flavors to spirits such as tequila which is driving the craft spirits market in Europe. In addition, increasing urbanization and disposable income of middle-class consumers have influenced their changing preferences. Hence, new consumption habits continue to drive the premium spirits category and drive market growth.
Fluctuations in raw material supply
For decades, the tequila market has seen frequent shortages and surpluses of agave. The production and price of tequila depending on the quantity and price of agave. Agave is an agricultural commodity that experiences price rises and falls just like the fruit, vegetable, or meat markets. This is the basic principle of supply and demand. When supplies are low and prices are high, farmers plant more. New agaves ripen and hit the market at the same time, increasing supply and lowering prices, so farmers plant less in those years. Established brands have more cash to cushion costs and more reserves to draw on. Smaller brands had to resort to producing blends or using immature agave plants, which not only produced worse agave but also accelerated future agave shortages. Changes in the supply of raw materials have a certain degree of impact on the company's product sales prices, capital plans, material turnover, and other production operations and profit margins, bringing uncertainty risks to the company's profit status.
Fluctuations in raw material supply
For decades, the tequila market has seen frequent shortages and surpluses of agave. The production and price of tequila depending on the quantity and price of agave. Agave is an agricultural commodity that experiences price rises and falls just like the fruit, vegetable, or meat markets. This is the basic principle of supply and demand. When supplies are low and prices are high, farmers plant more. New agaves ripen and hit the market at the same time, increasing supply and lowering prices, so farmers plant less in those years. Established brands have more cash to cushion costs and more reserves to draw on. Smaller brands had to resort to producing blends or using immature agave plants, which not only produced worse agave but also accelerated future agave shortages. Changes in the supply of raw materials have a certain degree of impact on the company's product sales prices, capital plans, material turnover, and other production operations and profit margins, bringing uncertainty risks to the company's profit status.
Region Overview:
In 2022, the share of the Tequila market in North America stood at 58.98%.
Company Overview:
Becle
Becle, S.A.B. de C.V. provides alcoholic beverages. The Company produces, bottles, imports, and distributes wines, liquors, spirits, and other related products. Becle serves customers worldwide.
Bacardi (Cazadores)
Bacardi is the largest privately held spirits company in the world, producing and marketing internationally recognized spirits and wines.
Becle is one of the major players operating in the Tequila market, holding a share of 22.71% in 2023.
Segmentation Overview:
Among different product types, 100% Tequila segment is anticipated to contribute the largest market share in 2028.
Application Overview:
By application, the Entertainment Parties and Bars segment occupied the biggest share from 2018 to 2022.
This report elaborates on the market size, market characteristics, and market growth of the Tequila industry between the year 2018 to 2028, and breaks down according to the product type, downstream application, and consumption area of Tequila. The report also introduces players in the industry from the perspective of the value chain and looks into the leading companies.
Key Points this Global Tequila Market Report Include:
Market Size Estimates: Tequila market size estimation in terms of revenue and sales from 2018-2028
Market Dynamic and Trends: Tequila market drivers, restraints, opportunities, and challenges
Macro-economy and Regional Conflict: Influence of global inflation and Russia & Ukraine War on the Tequila market
Segment Market Analysis: Tequila market revenue and sales by type and by application from 2018-2028
Regional Market Analysis: Tequila market situations and prospects in major and top regions and countries
Tequila Market
Tequila Industry Chain: Tequila market raw materials & suppliers, manufacturing process, distributors by region, downstream customers
Tequila Industry News, Policies by regions
Tequila Industry Porters Five Forces Analysis
Key players in the global Tequila market are covered in Chapter 2:
Bacardi (Cazadores)
Centinela
Aha Toro
Hacienda La Capilla
Milagro
Beam Suntory
4 Copas
Campo Azul
Tequila Arette
Brown-Forman
Becle
Buen Amigo
Juarez
Cascahuin Distillery
El Agave Artesanal
Compañia Tequilera de Arandas
1921 Tequila
Campari
Clase Azul
Diageo (Casamigos)
In Chapter 6 and Chapter 9, on the basis of types, the Tequila market from 2018 to 2028 is primarily split into:
100% Tequila
Mixto Tequila
In Chapter 7 and Chapter 10, on the basis of applications, the Tequila market from 2018 to 2028 covers:
Entertainment Parties and Bars
Family Drinking
Corporate Hospitality
Others
Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions from 2018 to 2028 are covered in Chapter 8 and Chapter 11:
United States
Europe
China
Japan
India
Southeast Asia
Latin America
Middle East and Africa
Others
In summary, this report relies on sources from both primary and secondary, combines comprehensive quantitative analysis with detailed qualitative analysis, and pictures the market from a macro overview to micro granular segment aspects. Whatever your role in this industry value chain is, you should benefit from this report with no doubt.
Chapter Outline
This report consists of 12 chapters. Below is a brief guideline to help you quickly grasp the main contents of each chapter:
Chapter 1 first introduces the product overview, market scope, product classification, application, and regional division, and then summarizes the global Tequila market size in terms of revenue, sales volume, and average price.
Chapter 2 analyzes the main companies in the Tequila industry, including their main businesses, products/services, sales, prices, revenue, gross profit margin, and the latest developments/updates.
Chapter 3 is an analysis of the competitive environment of Tequila market participants. This mainly includes the revenue, sales, market share, and average price of the top players, along with the market concentration ratio in 2022 and the players' M&A and expansion in recent years.
Chapter 4 is an analysis of the Tequila industrial chain, including raw material analysis, manufacturing cost structure, distributors, and major downstream buyers.
Chapter 5 focuses on Tequila market dynamics and marketing strategy analysis, which include opportunities, challenges, industry development trends under inflation, industry news and policies analyzed by region, Porter's Five Forces analysis, as well as direct and indirect marketing, and the development trends of marketing channels.
Chapters 6-8 have segmented the Tequila market by type, application, and region, with a focus on sales and value from 2018 to 2023 from both vertical and horizontal perspectives.
Chapters 9-11 provide detailed Tequila market forecast data for 2023-2028, broken down by type and application, region, and major countries to help understand future growth trends.
Chapter 12 concludes with an explanation of the data sources and research methods. Verify and analyze through preliminary research to obtain final quantitative and qualitative data.
2022
Tequila is an alcoholic drink made from the heart of the agave plant, which belongs to the category of distilled spirits. The young tequila has prominent acidity with notes of citrus and coffee. The aged agave has a rounder and softer taste, developing woody, vanilla, and caramel flavors similar to aged whiskey. Tequila is often used as a base wine to make various cocktails, and it can compete with whiskey and vodka. It is the national drink of Mexico.
Consumer demand for premium spirits is growing
Premiumization has become a trend in recent years as consumers value quality over quantity. As consumers shift towards refined and premium beverages, subsequently triggering the demand for such products. According to the International Wine & Spirits Research (IWSR), by 2020, due to consumer demand for premium spirits and cocktails. The premiumization trend is widespread across European countries as consumers shift their attention to craft breweries and locally produced beverages. Moreover, these small craft distilleries are offering new propositions and flavors to spirits such as tequila which is driving the craft spirits market in Europe. In addition, increasing urbanization and disposable income of middle-class consumers have influenced their changing preferences. Hence, new consumption habits continue to drive the premium spirits category and drive market growth.
Fluctuations in raw material supply
For decades, the tequila market has seen frequent shortages and surpluses of agave. The production and price of tequila depending on the quantity and price of agave. Agave is an agricultural commodity that experiences price rises and falls just like the fruit, vegetable, or meat markets. This is the basic principle of supply and demand. When supplies are low and prices are high, farmers plant more. New agaves ripen and hit the market at the same time, increasing supply and lowering prices, so farmers plant less in those years. Established brands have more cash to cushion costs and more reserves to draw on. Smaller brands had to resort to producing blends or using immature agave plants, which not only produced worse agave but also accelerated future agave shortages. Changes in the supply of raw materials have a certain degree of impact on the company's product sales prices, capital plans, material turnover, and other production operations and profit margins, bringing uncertainty risks to the company's profit status.
Fluctuations in raw material supply
For decades, the tequila market has seen frequent shortages and surpluses of agave. The production and price of tequila depending on the quantity and price of agave. Agave is an agricultural commodity that experiences price rises and falls just like the fruit, vegetable, or meat markets. This is the basic principle of supply and demand. When supplies are low and prices are high, farmers plant more. New agaves ripen and hit the market at the same time, increasing supply and lowering prices, so farmers plant less in those years. Established brands have more cash to cushion costs and more reserves to draw on. Smaller brands had to resort to producing blends or using immature agave plants, which not only produced worse agave but also accelerated future agave shortages. Changes in the supply of raw materials have a certain degree of impact on the company's product sales prices, capital plans, material turnover, and other production operations and profit margins, bringing uncertainty risks to the company's profit status.
Region Overview:
In 2022, the share of the Tequila market in North America stood at 58.98%.
Company Overview:
Becle
Becle, S.A.B. de C.V. provides alcoholic beverages. The Company produces, bottles, imports, and distributes wines, liquors, spirits, and other related products. Becle serves customers worldwide.
Bacardi (Cazadores)
Bacardi is the largest privately held spirits company in the world, producing and marketing internationally recognized spirits and wines.
Becle is one of the major players operating in the Tequila market, holding a share of 22.71% in 2023.
Segmentation Overview:
Among different product types, 100% Tequila segment is anticipated to contribute the largest market share in 2028.
Application Overview:
By application, the Entertainment Parties and Bars segment occupied the biggest share from 2018 to 2022.
This report elaborates on the market size, market characteristics, and market growth of the Tequila industry between the year 2018 to 2028, and breaks down according to the product type, downstream application, and consumption area of Tequila. The report also introduces players in the industry from the perspective of the value chain and looks into the leading companies.
Key Points this Global Tequila Market Report Include:
Market Size Estimates: Tequila market size estimation in terms of revenue and sales from 2018-2028
Market Dynamic and Trends: Tequila market drivers, restraints, opportunities, and challenges
Macro-economy and Regional Conflict: Influence of global inflation and Russia & Ukraine War on the Tequila market
Segment Market Analysis: Tequila market revenue and sales by type and by application from 2018-2028
Regional Market Analysis: Tequila market situations and prospects in major and top regions and countries
Tequila Market
Competitive Landscape
and Major Players: Analysis of 10-15 leading market players, sales, price, revenue, gross, gross margin, product/service profile and recent development/updates, etc.Tequila Industry Chain: Tequila market raw materials & suppliers, manufacturing process, distributors by region, downstream customers
Tequila Industry News, Policies by regions
Tequila Industry Porters Five Forces Analysis
Key players in the global Tequila market are covered in Chapter 2:
Bacardi (Cazadores)
Centinela
Aha Toro
Hacienda La Capilla
Milagro
Beam Suntory
4 Copas
Campo Azul
Tequila Arette
Brown-Forman
Becle
Buen Amigo
Juarez
Cascahuin Distillery
El Agave Artesanal
Compañia Tequilera de Arandas
1921 Tequila
Campari
Clase Azul
Diageo (Casamigos)
In Chapter 6 and Chapter 9, on the basis of types, the Tequila market from 2018 to 2028 is primarily split into:
100% Tequila
Mixto Tequila
In Chapter 7 and Chapter 10, on the basis of applications, the Tequila market from 2018 to 2028 covers:
Entertainment Parties and Bars
Family Drinking
Corporate Hospitality
Others
Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions from 2018 to 2028 are covered in Chapter 8 and Chapter 11:
United States
Europe
China
Japan
India
Southeast Asia
Latin America
Middle East and Africa
Others
In summary, this report relies on sources from both primary and secondary, combines comprehensive quantitative analysis with detailed qualitative analysis, and pictures the market from a macro overview to micro granular segment aspects. Whatever your role in this industry value chain is, you should benefit from this report with no doubt.
Chapter Outline
This report consists of 12 chapters. Below is a brief guideline to help you quickly grasp the main contents of each chapter:
Chapter 1 first introduces the product overview, market scope, product classification, application, and regional division, and then summarizes the global Tequila market size in terms of revenue, sales volume, and average price.
Chapter 2 analyzes the main companies in the Tequila industry, including their main businesses, products/services, sales, prices, revenue, gross profit margin, and the latest developments/updates.
Chapter 3 is an analysis of the competitive environment of Tequila market participants. This mainly includes the revenue, sales, market share, and average price of the top players, along with the market concentration ratio in 2022 and the players' M&A and expansion in recent years.
Chapter 4 is an analysis of the Tequila industrial chain, including raw material analysis, manufacturing cost structure, distributors, and major downstream buyers.
Chapter 5 focuses on Tequila market dynamics and marketing strategy analysis, which include opportunities, challenges, industry development trends under inflation, industry news and policies analyzed by region, Porter's Five Forces analysis, as well as direct and indirect marketing, and the development trends of marketing channels.
Chapters 6-8 have segmented the Tequila market by type, application, and region, with a focus on sales and value from 2018 to 2023 from both vertical and horizontal perspectives.
Chapters 9-11 provide detailed Tequila market forecast data for 2023-2028, broken down by type and application, region, and major countries to help understand future growth trends.
Chapter 12 concludes with an explanation of the data sources and research methods. Verify and analyze through preliminary research to obtain final quantitative and qualitative data.
Years considered for this report:
Historical Years:
2018-2022Base Year:
2022Estimated Year:
2023Forecast Period:
2023-2028Frequently Asked Questions
This market study covers the global and regional market with an
in-depth analysis of the
overall growth prospects...
- By product type
- By End User/Applications
- By Technology
- By Region
The report provides a detailed evaluation of the market by
highlighting information on
different aspects including drivers, restraints...
