TEQUILA MARKET ANALYSIS

Tequila MarketSize and Trends

The growth of the global tequila market is expected to be driven by the increasing momentum of the cocktail culture. There is increasing demand of tequila in cocktails, which is not restricted to bars and restaurants, but also gaining demand within the parties organized at homes. The market is also gaining traction with the shift in the preferences of the consumers from binge drinking to more sophisticated drinking. For instance in the U.S., there is increasing demand for handcrafted tequila. Other factors that are contributing towards increasing demand for tequila include as economic growth of individuals, which contributes towards increase in demand for alcohol such as tequila and infrastructural development.

Market Trends:

However, growth of the market is expected to be hampered by drop in the cultivation of agave plants in Mexico.

Market Outlook:  

Based on product type, the tequila market is being segmented into blanco, joven, mixto gold, reposado, anejo, and extra anejo. The blanco segment is expected to dominate the growth of the market over the forecast period. Blanco is known as plata tequila or silver teqila. This type of tequila is usually bottled, unaged, and packaged after being distilled. Some manufacturers within the industry allow the spirit to settle for few weeks before it is bottled. The market for blanco tequila is gaining traction, owing to its purest form and owing to the purest flavors of the blue agave plant as it is not being aged into barrels. It offers the genuine appeal of blue agave’s natural sweetness.