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