Tequila Market 2017-2021

Overview of the global tequila market

Technavio’s market research analyst predicts the global tequila market to grow steadily at a CAGR of above 3% by 2021. One of the primary drivers for growth of this market is the rise in the demand for premium tequila. The high consumption of premium tequila can be attributed to the superior craftsmanship, aging, and style of the alcoholic beverage. The super-premium tequila segment in the US grew multiple folds during the last decade and is expected to further drive growth in the global tequila market during the forecast period.

In terms of geography, the Americas accounted for the maximum market share during 2016 and will continue to dominate the market for the next few years. Countries such as the US, Mexico, and Canada are key contributors to the growth of the tequila market in the Americas. The US emerged as the leading country in the global tequila market in terms of both revenue and volume. This high demand for tequila in the US is primarily driven by the growing Hispanic population and increased demand for premium tequila. Furthermore, the availability of innovative products and the launch of flavored tequila will augment the growth of the tequila market in the Americas during the next four years.

Competitive landscape and key vendors

The global tequila market is subject to rapidly changing consumer demands and preferences. The market is highly fragmented due to the presence of numerous small and large vendors. The players in the market compete on the basis of factors such as price, quality, innovation, reputation, and distribution. In order to survive and succeed in this competitive environment, it is imperative for manufacturers in the market to distinguish their product and service offerings through a clear and unique value proposition.

Leading vendors in the market are –

• Beam Suntory
• Brown-Forman
• JOSE CUERVO
• Patrón Spirits International

Other prominent vendors in the tequila market include Camino Real, Compañía Tequilera Los Valores, Compañía Tequilera Hacienda La Capilla, PROXIMO SPIRITS, Sierra Tequila, Tequilera Corralejo, TEQUILA QUIOTE, Bluenectar Store, World Food, and Bev Group.

Segmentation by product and analysis of the tequila market

• Premium tequila
• Value tequila
• Super-premium tequila
• High-end premium tequila

During 2016, the premium tequila segment dominated the tequila market and accounted for a major part of the overall tequila market share. The growing demand for premium alcohol and the availability of a wide range of brands in this segment are influencing market growth. Moreover, the growing income levels across the globe will further propel the growth of the tequila market in the coming years.

Segmentation by distribution channel and analysis of the tequila market

• Supermarkets and hyper-markets
• on-trade
• specialist retailers
• convenience stores

The global tequila market was dominated by the supermarkets and hypermarkets segment, which accounted for a major part of the market share in 2016. The convenience provided by these retail stores in terms of the shopping experience and the availability of several brands at one place is the key contributor to the growth of this segment in the global market.

Key questions answered in the report include

• What will the tequila market size and growth rate be in 2021?
• What are the key factors driving the global tequila market?
• What are the key market trends impacting the growth of the global tequila market?
• What are the challenges to market growth?
• Who are the key vendors in the global tequila market?
• What are the market opportunities and threats faced by the vendors in the global tequila market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global tequila market?