Market Research Report
Tequila Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025
|Published by||IMARC Services Private Limited||Product code||960490|
|Published||Content info||109 Pages
Delivery time: 2-3 business days
|Tequila Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025|
|Published: September 3, 2020||Content info: 109 Pages||
The global tequila market grew at a CAGR of around 4% during 2014-2019. Tequila is a distilled alcoholic beverage produced from the Agave Tequilana plant. It is fermented with additional sweeteners, such as glucose and fructose, and artificial additives for flavorings. The alcohol content, flavor and color of tequila generally vary depending on the duration of the aging process. Its moderate consumption aids in digestion, increasing probiotic levels, enhancing the absorption of calcium and magnesium, and supporting the growth of healthful microbes in the intestines. It is widely utilized as a base ingredient in cocktails and is popular among young individuals across the globe.
A significant rise in the popularity of cocktail culture both in and out of the house represents one of the key factors impelling the global tequila market growth. Moreover, due to changing lifestyles and inflating income levels, ultra-premium and exclusive handcrafted tequila variants are gaining traction around the world. Apart from this, the leading players are introducing variants produced with natural ingredients, such as lemon, coconut tangerine, strawberry, pineapple, mango and pear to expand their product portfolio. They are also offering canned tequila cocktails, which are convenient and cost-effective, to increase their overall sales. However, on account of the spread of the coronavirus disease (COVID-19), governments of several countries have implemented complete lockdowns and social distancing measures to contain the spread of the pandemic. Although the on-premises sales of tequila have decreased, there is a rise in the demand for alcoholic beverages through e-commerce channels in some countries. Looking forward, IMARC Group expects the global tequila market to continue its moderate growth during the next five years.