Tequila Market to Reach Valuation of USD 13.5 Billion by 2028 – Rising Cocktail Trends for Artisanal Craft Spirits Drives the Market

In terms of revenue, the Global Tequila Market is expected to reach USD 13.5 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 5.60% from 2022 to 2028.

The growing popularity of cocktail culture both in and out of the house, the emergence of variations made from natural ingredients by top market players, and the increasing consumer interest in exotic & new flavors are augmenting the growth of the Tequila Market in coming years.

Key Highlights from Report:

· The BlancoType Tequila segment accounted have the significant growth of the Tequila Marketing 2021.Blanco has an earthy, semi-sweet, distinctive agave flavor and it has greater availability & more admirable taste that's why it is widely consumed.

· The Premium Gradesegment is anticipated to witness the largest growth of the Tequila Market during the forecast period. Increasing consumer demands for high-quality craft spirits are accelerating the segmental growth of the Tequila Market. In addition, the premium-grade energy combines all coveted qualities, including texture, mouth feel, and sensory appeal, that consumers highly regard.

· North America is anticipated to hold the largest growth of the Tequila Market in 2021. The rising preference for agave-based alcohol is augmenting the growth of the Tequila Market in this region.

Market Dynamics:

The demand for plant-based distilled spirits is increasing among various customers across the globe. Customers are required fresh and flavorful exotic drinks for a unique taste, which, in turn, is propelling the growth of the Tequila Market. In addition, the market players driving in this industry are started introducing new products that will allow the consumers to enjoy flavored drinks. For instance, the Suntory Group, a global leader in consumer packaged goods, producing & distributing a uniquely diverse collection of beverages, beer & wine, and premium spirits worldwide, established a new domestic liquor company to promote integrated management of the entire domestic liquor business in response to changes in the alcohol consumption trends.

North America is accounted to mention the largest growth of the Tequila Market during the forecast period. This growth is attributed owing to the growth in the popularity of agave-based spirits in this region. In addition, the growing demand for handcrafted Tequila in this region, and the increasing demand for Tequila in several business sectors together with bars, pubs, and restaurants are boosting the regional growth of the Tequila Market in this region.

The Global Tequila Market is Segmented as follows:

• Type
  • Blanco
  • Reposado
  • Anejo
  • Other Types
• Grade
  • Value
  • Premium
  • High-End Premium
  • Super Premium
• Distribution Channel
  • On-Trade
  • Off-Trade
• Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

List of the Key Players of the Global Tequila Market is:

Pernod Ricard S.A. (France), Diageo PLC (U.K.), Bacardi Limited (Bermuda), Suntory Holdings Limited (Japan), Heaven Hill Distilleries Inc. (U.S.), Campari Group (Italy), Sazerac Company Inc. (U.S.), Brown-Forman Corporation (U.S.), Casa Aceves (México), Constellation Brands Inc. (U.S.)

The Global Tequila Market Scope can be Tabulated as below: