Tequila Market is Projected to Reach US$ 27.7 Billion by 2027, Bolstered by Rising Trend of Cocktail Culture
September 23, 2022
SHERIDAN, WY, USA, September 23, 2022 /EINPresswire.com/ -- According to IMARC Group’s latest report, titled “Tequila Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global tequila market size reached US$ 13 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 27.7 Billion by 2027, exhibiting a CAGR of 12.9% during 2022-2027. Tequila is a popular distilled spirit made from the Weber blue agave plant primarily found in Mexico. The plant has huge spikes, called the pina, which are used for the manufacturing of tequila. The flavor and alcohol content of the tequila vary depending on the duration of the aging process. It offers umpteen benefits when consumed in moderation, including increased probiotic levels, rapid absorption of calcium and magnesium, and growth of healthy microbes in the intestines. Currently, tequila is one of the most popular distilled beverages across the globe and is largely used as a base ingredient in cocktails and other beverages.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Market Trends and Drivers:
The shifting consumer preference towards sophisticated drinks due to the surging expenditure power is the primarily driving the tequila market across the globe. In line with this, the rising demand for exclusive handcrafted and ultra-premium tequila is providing an impetus to market growth. Additionally, the escalating demand for tequila has compelled key players to introduce cost-effective and innovative tequila flavors to compete in the cut-throat competition, which is creating a positive outlook for the market. Other factors, such as the rising popularity of the cocktail culture and the easy availability of tequila in online retail stores, are accelerating market growth.
Tequila Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the tequila market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
• Ambhar Tequila
• Bacardi Limited
• Beam Suntory Inc. (Suntory Beverage & Food Ltd)
• Diageo Plc
• Dos Lunas
• El Agave Artesanal
• El Grado Tequila
• Jose Cuervo
• Tequila Arette
Key Market Segmentation:
The report has segmented the global tequila market based on product type, purity, price range, distribution channel and region.
Breakup by Product Type:
• Mixto Gold
• Extra Anejo
Breakup by Purity:
• 100% Tequila
• 60% Tequila
Breakup by Price Range:
• Premium Tequila
• Value Tequila
• Premium and Super-Premium Tequila
• Ultra-Premium Tequila
Breakup by Distribution Channel:
o Supermarkets and Hypermarkets
o Discount Stores
o Online Stores
o Restaurants and Bars
o Liquor Stores
Breakup by Region:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
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Key Highlights of the Report:
• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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