Global Tequila Market to Reach 594.7 Million Liters by 2030, Growing at a 5.26% CAGR from 2024-2030

The Global Tequila Market size was valued at 415.4 million liters in 2023 and is projected to reach 594.7 million liters by 2030. Along with this, the market is estimated to grow at a CAGR of around 5.26% during the forecast period, i.e., 2024-30, cites MarkNtel Advisors in the recent research report.

Rapidly surging fondness for cocktails in bars & restaurants, nightclubs, house parties, etc., is supporting the consistent growth of the Tequila Market. Its widespread use as a key ingredient in cocktails during social gatherings due to its easy adaptability with any other ingredients has been increasing its demand across the globe.

Additionally, the population across continents showing interest in ultra-premium artisanal varieties due to their evolving lifestyles and increased disposable incomes is also fueling the demand for tequila. Moreover, the rising availability of ready-to-drink premixed tequila cocktails in cans is attracting the younger demographic. These convenient beverages are preferred by consumers for their variety of flavorful options and the fact that they require no additional preparation. Consequently, the increasing popularity of premixed canned tequila drinks is anticipated to boost the global tequila market in the coming years.

Get a Free Sample Report- https://www.marknteladvisors.com/query/request-sample/tequila-market.html

The growing adoption of new marketing channels by the companies such as influencer marketing has positively impacted the tequila industry globally. This is due to the rapid penetration of social media and the spread of information to the population even in remote areas of the world. Celebrities and influencers with high amounts of followers are able to persuade the purchasing behavior of a large pool of consumers at once. Thus, almost all liquor companies have been adapting influencer marketing channels and augmenting their revenue-earning opportunities in the market.

Furthermore, increasing consumer awareness about additive-free and organic tequila, many brands in the market have been announcing highly pure 100% agave-based tequila in recent years. Many consumers prefer drinking the raw flavor of agave in tequila without any mixed additives for sweetness or thickness. The addition of the extra ingredients often degrades the quality of the liquor, and in some cases, it is done to reduce the price of tequila primarily by local, small, inauthentic producers.

Therefore, many brands have started either mentioning their existing products or launching new "additive-free" tequila to increase their share in the market and also to positively impact the market growth in the future years, further states the research report, "Global Tequila Market Analysis, 2024."

Global Tequila Market Segmentation Analysis

Blanco to Hold the Major Market Share

Based on the product type segment, the market is further bifurcated into Blanco, Joven, Reposado, Curados, Cristalino, and Others (Anejo, Extra Anejo).

Blanco has gained a major share in the market. The Blanco tequila also known as silver tequila requires fewer days to ferment and thus the companies are able to produce a larger volume of Blanco tequila. Along with this the increasing demand for the purest form of tequila i.e. made without any extra additions, fermentation process, etc., by the population is also surging the demand for blanco in the Global Tequila Market. Additionally, blanco holds the capacity to blend easily and hence is a preferred choice for making cocktails, especially with bartenders across the globe. The increasing establishment of bars & restaurants worldwide is further expected to maintain the greater share of blanco in the market in the coming years.

Europe observed fastest growth in the Global Tequila Market

Europe has been growing at a faster pace in the market. The existing culture of going out on the weekends amongst European residents raises the need for liquor at bars, restaurants, clubs, etc. However, due to the younger population of the region i.e. the millennials portraying interest in crafted, artisanal, flavored tequila, have further pushed the brands to launch new unique products. The launch of new varieties of tequila to satiate the requirements of consumers has been fueling the market growth in the historical period.

Many countries in the region are famous for their nightlife, beach parties, and hosting concerts of global artists which have supported the establishment of various hospitality places such as clubs, bars, resorts, etc., serving alcohol. The steadily increasing number of tourists from around the globe substantially boosts the consumption of tequila.

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including Becle, S.A.B. de C.V., Amber Beverage Group, Bacardi Limited, Suntory Group, Brown-Forman, Diageo Plc, Pernod Ricard, Davide Campari-Milano N.V., Solento Inc., Constellation Brands Inc., Asahi Beverages, LVMH (Moet Henessey), Heaven Hill Distilleries, Inc., Casa Aceves, and Others are looking forward to strengthening their market position.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the market?
3. What key factors would propel and impede the industry across the globe?
4. How has the industry been evolving in terms of geography & product adoption?
5. How has the competition been shaping across the regions?
6. How have the buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?

About Us:

MarkNtel Advisors is a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. We being a qualitative & quantitative research company, strive to deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, and individuals, among others.

We have our existence across the market for many years and have conducted multi-industry research across 80+ countries, spreading our reach across numerous regions like America, Asia-Pacific, Europe, the Middle East & Africa, etc., and many countries across the regional scale, namely, the US, India, the Netherlands, Saudi Arabia, the UAE, Brazil, and several others.

Media Representative

Company Name: MarkNtel Advisors

Email: sales@marknteladvisors.com

Phone: +1 628 895 8081, +91 120 4278433

Visit to know more: https://www.marknteladvisors.com/

MarkNtel Advisors is a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals.