Market Research Report
Europe Tequila Market Forecast 2021-2028
|Europe Tequila Market Forecast 2021-2028|
Published: July 19, 2021
Content info: 154 Pages
Delivery time: 2-3 business days
The Europe tequila market is projected to grow with a CAGR of 4.05% over the forecast years of 2021 to 2028. The regional market's growth is associated with key drivers such as the rising number of discos, pubs, and bars, the elevated levels of alcohol consumption, and changing lifestyles patterns.
The Europe tequila market growth evaluation includes the assessment of Poland, Italy, Russia, Germany, France, Belgium, the United Kingdom, and the rest of Europe. France harbors the leading tequila manufacturing firm, Pernod Ricard SA, providing a wide range of spirits under several international and local strategic brands. In addition, the company concentrates on expanding its tequila range across Latin America, Africa, the Middle East, and Europe through acquisitions. As per industry sources, Paris had around 4,316 in 2018. However, amid the COVID-19 pandemic in 2020, the country observed a substantial decrease in alcohol sales.
On the other hand, as of 2021, Italy has 116,401 pubs, bars, and nightclub businesses. According to the World Health Organization (WHO), the average pro-capita consumption of pure alcohol in the country is 10.6 liters. Furthermore, the consumption of alcohol has progressively risen in Italy over the last decade. In 2020, the country imported over 1.40 million liters of tequila from Mexico. Hence, the increased consumption of alcohol augments the demand for tequila in Italy. As a result, these factors are set to fuel the Europe tequila market growth during the estimated period.
Some of the leading companies operating in the market are: La Martiniquaise, Pernod Ricard SA, Diageo PLC, etc.