The latest market research report titled “Tequila Market” methodically summarizes key elements of Tequila research. The report provides an in-depth study of the Tequila , highlighting the latest growth trends and dynamics in the Tequila . The report is intended to assist readers in accurately assessing current and future Tequila scenarios.
Market Overview:
Tequila, distilled liquor, usually clear in colour and unaged, made from the fermented juice of the Mexican agave plant, specifically several varieties of Agave tequilana Weber. Through the fermentation process, many factors influence the higher alcohol content of tequila. Tequila may be a comparatively healthier option than some other types of alcohol because it contains fewer calories, zero sugar, and zero carbohydrates. American Chemical Society suggests that tequila could have the heart-healthy ability to lower bad cholesterol and raise good cholesterol. Due to the low nutritional value, tequila offers nearly the same health benefits as vodka. It is a strong alcoholic liquor that was originated in Mexico and at times forms the basis for many types of mixed drinks. A variety of cocktails are made with tequila, including the margarita.
Competitive Landscape:
Major players operating in the global tequila market are William Grant & Sons, Inc., Cascahuin Distillery, Tequilera de Arandas Company, El Grado, Dos Lunas Spirits, LLC, AMBHAR Global Spirits LLC., Tequila512, Don Julio, Tequila Cuervo La Rojeña, Tequilera Corralejo S.A. de C.V., among others.
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Key Market Drivers:
Increasing demand for premium spirits and introduction of new exotic flavors across the globe is expected to boost the growth of the tequila market during the forecast period. For instance, in November 2020, Tesla launched its own brand of tequila, Teslaquila or Tesla Tequila, an exclusive, small-batch premium 100% de agave tequila añejo made from sustainably sourced highland and lowland agaves. The growing popularity of the artisanal spirit has fueled the demand for blue agave plant distilled beverages.
Moreover, increasing adoption of western culture, increasing demand for alcoholic beverages, and increasing momentum of the cocktail culture are some major factors expected to augment the growth of the tequila market. For instance, in July 2021, Splash Beverage Group announced that Southern Eagle Distributing, the leading beverage distributor in Florida’s Treasure Coast, will market and distribute SALT Tequila to more than 2,000 retailers in its service territory this summer through numerous planned launch activities and events.
COVID-19 Impact Analysis:
Alcoholic beverage sales have spiked significantly during the COVID-19 pandemic. The pandemic has led customer to shift towards drinking at home, which in turn has increased the demand for alcoholic beverages across the globe. From January to October, the production and export of tequila was reported dodging the pandemic with annual increases. Tequila production increased 3.8% in the last 10 months of the year in relation to the same period of 2019, reaching 309 million liters produced, according to the Tequila Regulatory Council (CRT). This in turn is excreted to propel the growth of the market.
Key Takeaways:
The tequila market is expected to exhibit a CAGR of 14.4% during the forecast period owing to the increasing consumption of tequila within the population, across the globe. For instance, in September 2021, Drinks start-up Hacien raised £500K to help launch its range of premium crafted tequilas. The Leeds-based company is planning to launch the new range of sipping tequilas to trade and consumers later this year.
Among regions, North America, Europe, and Asia Pacific are expected to witness robust growth in the tequila market, owing to the increasing demand for tequila, introduction of new exotic flavors, increasing adoption of western culture, and increasing momentum of the cocktail culture in these regions. For instance, in September 2021, Inspiro Tequila, a new ultra-premium additive-free tequila, meticulously crafted from hand-selected 100% Blue Weber Agave, launched in the United States. Moreover, according to the International Wine & Spirit Research (IWSR), blue agave plant distilled beverage is the second-fastest-growing spirit in the category in the recent years.
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Market Taxonomy:
On the basis of purity, the global tequila market is segmented into:
100% Tequila
Mixed
On the basis of product type, the global tequila market is segmented into:
Blanco
Joven
Mixto Gold
Reposado
Anejo
Extra Anejo
Important Features that are under Offering and Key Highlights of the Reports:
– Potential and niche segments/regions exhibiting promising growth.
– Detailed overview of Market
– Changing market dynamics of the industry
– In-depth market segmentation by Type, Application, etc.
– Historical, current, and projected market size in terms of volume and value
– Recent industry trends and developments
– Competitive landscape of Market
– Strategies of key players and product offerings
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✤ SWOT Analysis is used to define, assess, and analyse market competition by focusing on the world's major manufacturers. The market is defined, described, and forecasted by type, application, and region.
✤ Examine the potential and advantages of the global and major regional markets, as well as the opportunities and challenges, as well as the constraints and risks.
✤ Determine whether market growth is being driven or hampered by trends and factors.
✤ Stakeholders will be able to assess market potential by identifying high-growth categories.
✤ Conduct a strategic analysis of each submarket's growth trends and contribution to the market.
✤ Competitive developments in the market include expansions, agreements, new product launches, and acquisitions.
✤ To develop a strategic profile of the major players and conduct a thorough analysis of their growth strategies.
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✔ In the next seven years, what innovative technology trends should we expect?
✔ Which sub-segment do you believe will grow the fastest over the next few years?
✔ By 2028, which region is predicted to have the largest market share?
✔ What organic and inorganic strategies are businesses employing to gain market share?
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