Market Research Report
Mexico Tequila Market Forecast 2021-2026
|Mexico Tequila Market Forecast 2021-2026|
Published: July 19, 2021
Content info: 113 Pages
Delivery time: 2-3 business days
The Mexico tequila market is anticipated to grow with a CAGR of 4.00% over the forecasting period. Key drivers such as the increased consumption of tequila and the significant exports of the alcoholic beverage are primarily accredited to the market growth of the country. While the base year considered for the studied market is 2020, the projected period is from 2021 to 2026.
Tequila, a distilled spirit, acquires its name from the city of Tequila in Mexico. Recognized as one of the most standard Mexican beverages, in 2019, the sale of this traditional drink obtained a revenue of more than 51 billion Mexican pesos. Despite being one of the relatively inexpensive brand names across the Mexican market, El Jimador is the best-selling tequila in the nation.
On the other hand, in 2020, Mexico exported more tequila to other regions globally, than ever before. In the same year, over 80% of the country's tequila exports went to the United States. Furthermore, tequila is the national drink of Mexico. The country's citizens drink the most tequila per individual, equating to approximately 1.3 pints (0.63 liters) annually. Conversely, over recent years, the volume of tequila exported from Mexico has substantially increased. As a result, these factors are anticipated to propel the country's market growth during the forecasted years.
Leading firms operating in the market are: Brown-Forman Corporation, Beam Suntory Inc, Jose Cuervo (Becle SAB De CV), etc.