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1036859

Global Tequila Market - 2021-2028

Published: | DataM Intelligence | 180 Pages | Delivery time: 2 business days

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Global Tequila Market - 2021-2028
Published: November 16, 2021
DataM Intelligence
Content info: 180 Pages
Delivery time: 2 business days
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  • Description
  • Table of Contents
Description

Market Overview:

Tequila is an alcoholic beverage made from the Agave Tequilana plant, which is distilled. It is fermented with added sugars like glucose and fructose, as well as artificial flavorings. Tequila's alcohol content, flavor, and color differ depending on how long it has been aged. Its moderate use assists digestion by raising probiotic levels, improving calcium and magnesium absorption, and promoting the growth of beneficial bacteria in the intestines. It is commonly used as a base ingredient in cocktails and is quite popular among young people all over the world. The global tequila market valued USD XX million in 2020 and is forecast to reach USD XX million by 2028, growing at a CAGR of XX% during the forecast period (2021-2028)

Market Dynamics:

Increasing demand for premium spirits to drive the market growth

In recent years, premiumization has become popular as consumers want quality over quantity. Demand for products rises as people gravitate towards premium beverages. According to the DISCUS, the alcoholic drinks industry's robust revenue growth can be ascribed to increased demand for ultra-premium and super-premium spirits. The changing choices of middle-class consumers have been influenced by rapid urbanisation and disposable income. As a result, the premium spirits sector continues to be driven by new consumption trends, boosting market growth. Furthermore, the growing popularity of artisanal spirits among customers around the world has boosted demand for distilled beverages made from the blue agave plant. For a unique taste, consumers expect fresh and delectable exotic drinks from throughout the world, moving the market ahead. To attract consumers and explore new flavours, major manufacturers such as Patron Spirits International developed turmeric, flowery, black pepper, and pumpkin flavours. According to the Distilled Spirits Council of the United States, or DISCUS, the spirit industry had increased growth in 2019, with sales reaching 37.8% of the alcoholic beverages market. This was due to an increase in sales.

However, rising consumer demand for low and no alcohol beverages, as a result of their growing understanding of the negative health impacts of alcoholic beverages, acts as a market restraint. According to the IWSR study report, approximately 52 percent of adults in the United States who consume alcohol are aiming to cut back in 2019. According to the Office for National Statistics in the United Kingdom, there were roughly 7,551 deaths in the United Kingdom due to alcohol-related causes in 2018. Furthermore, global alcohol consumption fell by 1.8 percent in 2018, as consumers shifted to healthier and more enticing beverages. Moreover, a number of industry players are investing in non-alcoholic and low-alcohol beverages.

Market Segmentation:

Blanco held largest market revenue share in the year 2020

Because of its earthy, semi-sweet, distinctive agave flavor, the blanco variants account for the majority of revenue. It is widely consumed due to its smoother taste and easy availability. Blanco variants are widely used in various drinks such as margaritas and Palomas, resulting in it having the biggest market share. Consumers are growing more aware about the spirit and willing to try new variations, therefore reposado and anejo variants have gained a lot of popularity in recent years. Reposado and anejo, unlike blanco, are matured in oak barrels for a month to a year, giving them a distinct honey and smoky flavor.

Geographical Penetration:

North America is expected to dominate the global tequila market in the year 2020

Because of the expanding consumer preference for agave-based spirits in the United States and Mexico, North America maintained a substantial market revenue share of XX percent in 2020. It is the fastest-growing drinks category in the region, according to the International Wine and Spirits Research (IWSR). This expansion might also be attributed to the region's growing Hispanic population and premiumization trends. In addition, the big companies are growing their exports; in 2019, 70 percent of the blue agave plant distilled beverage produced in Mexico was shipped to 120 countries, with the United States accounting for the majority of the exports. New tequila flavors are also being introduced, along with celebrity endorsements.

During the forecast period, Asia Pacific is expected to be the fastest growing region. Consumers in Asia Pacific, particularly millennials in countries like China and Australia, have gained recognition of the spirit. The market's expansion has been aided by rising imports, as well as consumers wanting quality over quantity and favoring small-batch spirits.

Competitive Landscape:

Due to the vast production of tequila in Mexico and the United States, the market is moderately consolidated. There's also the existence of major players who are innovating and launching products all over the world. To expand its product portfolio and preserve a competitive advantage, companies like Diageo Plc, Bacardi & Company Ltd., Proximo Spirits, Inc., and Pernod Ricard S.A. are focusing on new product development and growing exports. For example, Tesla launched Tesla Tequila in November 2020, which has been aged for 15 months and is available on the web platform in the United States. Nick Jonas, an American singer, released his own tequila line, Villa One, in September 2019 in the United States, made from sustainably grown agave.

COVID-19 Impact: Negative impact on the tequila market

Because of the shutdown of various manufacturing facilities and difficulties in transportation and logistics, the COVID-19 pandemic has had an impact on the worldwide economy and food industry. Despite the outbreak's devastating impact, the market maintained a stable annual sales performance. Tequila output grew 3.8 percent over the same period last year, according to the Tequila Regulatory Council (CRT). Consumers have shifted to drinking at home as a result of the pandemic, reflecting the increased growth. Despite the closure of brick-and-mortar alcohol outlets, the e-commerce channel grew as individuals began ordering drinks online. A disrupted supply chain network, on the other hand, has pulled down the overall business growth all across the world.

Why Purchase the Report?

  • Understand the current market scenario and viability of global tequila over the forecast period
  • Visualize the composition of the global tequila market in terms of type, grade, distribution channel and end user to identify major players, growth potential, and market strategies
  • Identify the key regulations prevailing in the market and understand their impact on the market over the forecast period
  • Understand the key business factors such as market competition, product pricing, new product developments, and patent filings pertaining in the market

What we offer?

  • PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study
  • Excel data sheet with valuable data points of the global tequila market - Regional and Country level segmentation
  • Product mapping in excel for the key products of all major market players
  • Market share analysis covering business revenues ($) and revenue share (%) of key market players

The global tequila market report would provide an access to approximately 45 market data tables, 45 figures and 180 pages.

Target Audience:

  • Alcoholic Beverages Manufacturers
  • Food Service Industry
  • Industry Investors
  • Education & Research Institutes
  • Research Professionals
Table of Contents
Product Code: DMFB4294

Table of Contents

1. Global Tequila Market -Scope and Methodology

  • 1.1. Research Methodology
  • 1.2. Scope of the Market

2. Global Tequila Market -Key Trends and Developments

3. Global Tequila Market - Executive Summary

  • 3.1. Market Snippet by Type
  • 3.2. Market Snippet by Grade
  • 3.3. Market Snippet by Distribution Channel
  • 3.4. Market Snippet by Region

4. Global Tequila Market - Market Dynamics

  • 4.1. Market impacting factors
    • 4.1.1. Drivers
    • 4.1.2. Restraints
    • 4.1.3. Opportunities
  • 4.2. Impact analysis

5. Global Tequila Market - Industry Analysis

  • 5.1. Porter's five forces analysis
  • 5.2. Value chain analysis
  • 5.3. Patent Analysis
  • 5.4. Regulatory Analysis

6. Global Tequila Market - COVID-19 Analysis

  • 6.1. Analysis of Covid-19 on the Market
    • 6.1.1. Before COVID-19 Market Scenario
    • 6.1.2. Present COVID-19 Market Scenario
    • 6.1.3. After COVID-19 or Future Scenario
  • 6.2. Pricing Dynamics Amid Covid-19
  • 6.3. Demand-Supply Spectrum
  • 6.4. Government Initiatives Related to the Market During Pandemic
  • 6.5. Manufacturers Strategic Initiatives

7. Global Tequila Market - By Type

  • 7.1. Introduction
    • 7.1.1. Market size analysis, and y-o-y growth analysis (%), By Type segment
    • 7.1.2. Market attractiveness index, By Type segment
  • 7.2. Blanco*
    • 7.2.1. Introduction
    • 7.2.2. Market Size Analysis, US$ Million, 2019-2028 And Y-O-Y Growth Analysis (%), 2020-2028
  • 7.3. Anejo
  • 7.4. Reposado
  • 7.5. Others

8. Global Tequila Market - By Grade

  • 8.1. Introduction
    • 8.1.1. Market size analysis, and y-o-y growth analysis (%), By Grade Segment
    • 8.1.2. Market attractiveness index, By Grade Segment
  • 8.2. Premium*
    • 8.2.1. Introduction
    • 8.2.2. Market Size Analysis, US$ Million, 2019-2028 And Y-O-Y Growth Analysis (%), 2020-2028
  • 8.3. Value
  • 8.4. Ultra-premium
  • 8.5. Super Premium
  • 8.6. Others

9. Global Tequila Market - By Distribution Channel

  • 9.1. Introduction
    • 9.1.1. Market size analysis, and y-o-y growth analysis (%), By Distribution Channel Segment
    • 9.1.2. Market attractiveness index, By Distribution Channel Segment
  • 9.2. Off-Trade*
    • 9.2.1. Introduction
    • 9.2.2. Market Size Analysis, US$ Million, 2019-2028 And Y-O-Y Growth Analysis (%), 2020-2028
    • 9.2.3. Supermarkets and Hypermarkets
    • 9.2.4. Online Stores
    • 9.2.5. Others
  • 9.3. On-Trade
    • 9.3.1. Restaurants and Bars
    • 9.3.2. Liquor Stores
    • 9.3.3. Others

10. Global Tequila Market - By Region

  • 10.1. Introduction
    • 10.1.1. Market Size Analysis, And Y-O-Y Growth Analysis (%), By Region
    • 10.1.2. Market Attractiveness Index, By Region
  • 10.2. North America
    • 10.2.1. Introduction
    • 10.2.2. Key region-specific dynamics
    • 10.2.3. Market Size Analysis, And Y-O-Y Growth Analysis (%), By Type
    • 10.2.4. Market Size Analysis, And Y-O-Y Growth Analysis (%), By Grade
    • 10.2.5. Market Size Analysis, And Y-O-Y Growth Analysis (%), By Distribution Channel
    • 10.2.6. Market Size Analysis, And Y-O-Y Growth Analysis (%), By Country
      • 10.2.6.1. U.S.
      • 10.2.6.2. Canada
      • 10.2.6.3. Mexico
  • 10.3. South America
    • 10.3.1. Introduction
    • 10.3.2. Key Region-Specific Dynamics
    • 10.3.3. Market Size Analysis, And Y-O-Y Growth Analysis (%), By Type
    • 10.3.4. Market Size Analysis, And Y-O-Y Growth Analysis (%), By Grade
    • 10.3.5. Market Size Analysis, And Y-O-Y Growth Analysis (%), By Distribution Channel
    • 10.3.6. Market Size Analysis, And Y-O-Y Growth Analysis (%), By Country
      • 10.3.6.1. Brazil
      • 10.3.6.2. Argentina
      • 10.3.6.3. Rest of South America
  • 10.4. Europe
    • 10.4.1. Introduction
    • 10.4.2. Key Region-Specific Dynamics
    • 10.4.3. Market Size Analysis, And Y-O-Y Growth Analysis (%), By Type
    • 10.4.4. Market Size Analysis, And Y-O-Y Growth Analysis (%), By Grade
    • 10.4.5. Market Size Analysis, And Y-O-Y Growth Analysis (%), By Distribution Channel
    • 10.4.6. Market Size Analysis, And Y-O-Y Growth Analysis (%), By Country
      • 10.4.6.1. Germany
      • 10.4.6.2. U.K.
      • 10.4.6.3. France
      • 10.4.6.4. Spain
      • 10.4.6.5. Italy
      • 10.4.6.6. Rest of Europe
  • 10.5. Asia Pacific
    • 10.5.1. Introduction
    • 10.5.2. Key Region-Specific Dynamics
    • 10.5.3. Market Size Analysis, And Y-O-Y Growth Analysis (%), By Type
    • 10.5.4. Market Size Analysis, And Y-O-Y Growth Analysis (%), By Grade
    • 10.5.5. Market Size Analysis, And Y-O-Y Growth Analysis (%), By Distribution Channel
    • 10.5.6. Market Size Analysis, And Y-O-Y Growth Analysis (%), By Country
      • 10.5.6.1. China
      • 10.5.6.2. India
      • 10.5.6.3. Japan
      • 10.5.6.4. Australia
      • 10.5.6.5. Rest of Asia Pacific
  • 10.6. Middle East and Africa
    • 10.6.1. Introduction
    • 10.6.2. Key Region-Specific Dynamics
    • 10.6.3. Market Size Analysis, And Y-O-Y Growth Analysis (%), By Type
    • 10.6.4. Market Size Analysis, And Y-O-Y Growth Analysis (%), By Grade
    • 10.6.5. Market Size Analysis, And Y-O-Y Growth Analysis (%), By Distribution Channel

11. Global Tequila Market - Competitive Landscape

  • 11.1. Competitive scenario
  • 11.2. Competitor strategy analysis
  • 11.3. Market positioning/share analysis
  • 11.4. Mergers and acquisitions analysis

12. Company Profiles

  • 12.1. Diageo Plc.*
    • 12.1.1. Company Overview
    • 12.1.2. Product Portfolio and Description
    • 12.1.3. Key Highlights
    • 12.1.4. Financial Overview
  • 12.2. Tequila Ocho
  • 12.3. Bacardi & Company Ltd.
  • 12.4. Vault Fine Spirits Pvt. Ltd.
  • 12.5. Charbay Distillery
  • 12.6. Tequila Fortaleza
  • 12.7. Proximo Spirits, Inc.
  • 12.8. Brown-Forman Corporation
  • 12.9. Pernod Ricard S.A.
  • 12.10. Casa Aceves Spirits
  • List not Exhaustive*

13. Global Tequila Market - DataM

  • 13.1. Appendix
  • 13.2. About us and services
  • 13.3. Contact us