Dublin, Aug. 12, 2022 (GLOBE NEWSWIRE) -- The "Tequila Market By Product Type, By Grade, By Application, By Distribution Channel, and By Region Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.

The global tequila market size is expected to reach USD 14.35 billion in 2028 and register a revenue CAGR of 5.4% over the forecast period, according to the latest report. The growing popularity of tequila-based cocktails is expected to be a key driver of the market growth.

The market is being driven by premiumization, with continued growth in premium and super-premium products outpacing that of lower-priced variants. The growing popularity of premium and super-premium tequila brands is another major factor driving the market growth.

The premiumization trend has been gaining popularity in the alcoholic beverages industry, especially in the tequila market. For instance, in January 2019, Casa Herradura launched its premium tequila brand, Reserva de la Familia, in the US market. The product is priced at USD 250 per bottle and is only available in limited quantities. Similarly, in November 2018, Patron Spirits International AG launched its ultra-premium tequila brand, Gran Patron Burdeos, in the US market.

Tequila is made from the blue agave plant, which is native to Mexico. Traditionally, tequila was produced in the Mexican state of Jalisco, but today it is produced in several other states as well. The vast majority of tequila exported to the United States is produced in Jalisco.

There are three main types of tequila: blanco (white or silver), reposado (aged for two months to one year), and anejo (aged for one to three years). Extra anejo is a relatively new category, introduced in 2006, for tequilas that have been aged for more than three years.

Some Key Highlights from the Report:

• The blanco tequila category is expected to grow at the highest CAGR during the forecast period. Blanco tequila is unaged and bottled immediately after distillation, or aged less than two months in stainless steel containers. Increasing preference for blanco tequila among millennial consumers is projected to fuel the growth of this segment during the forecast period.

• By grade, premium segment contributed for a significant revenue share in 2020. Increasing preference for high-quality and authentic tequila among consumers is expected to boost the demand for premium products in the market. The silver grade is anticipated to witness rapid growth on account of its smooth texture and less intense flavor, which makes it ideal for mixing cocktails. The reposado grade segment is projected to expand at a moderate pace owing to the growing preference for aged tequila among consumers.

• In terms of distribution channel, the offline segment is expected to hold a major share of the global market owing to the large presence of brick-and-mortar stores selling tequila products. The online segment is projected to witness rapid growth on account of the increasing number of e-commerce platforms and the growing preference for online shopping among consumers.

• According to the Distilled Spirits Council of the United States, tequila sales in North America have been steadily increasing since 2002. In 2016, sales reached a record high of $22.3 billion. The majority of tequila sold in North America is consumed in the United States, where it has become one of the most popular types of alcohol.

• The Asia Pacific region is expected to be the fastest-growing market for tequila during the forecast period. The region is expected to register a CAGR of 6.7% from 2021 to 2028. The growing popularity of tequila among young adults and millennials is one of the key drivers of market growth in the region. In addition, the growing disposable incomes and changing lifestyle preferences are further expected to drive the market growth in Asia Pacific.

Major companies in the market include Bacardi Ltd., Campari America LLC, Diageo PLC, Eastside Distilling Inc., Ambhar Global Spirits LLC, Becle SAB De CV, Constellation Brands Inc., Brown-Forman Corporation, E. and J. Gallo Winery, and Tequila Ocho.

Key Topics Covered:

Chapter 1. Market Synopsis

Chapter 2. Executive Summary

Chapter 3. Indicative Metrics

Chapter 4. Tequila Market Segmentation & Impact Analysis
4.1. Tequila Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers' analysis
4.2.2.1. Surging demand for premium alcoholic beverages
4.2.2.2. Increasing innovations in product development
4.2.2.3. Rise in cocktail culture
4.2.3. Market restraints analysis
4.2.3.1. Availability of substitute products
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter's Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis
4.9. Customer Mapping
4.10. Covid-19 Impact Analysis
4.11. Global Recession Influence

Chapter 5. Tequila Market By Product Type Insights & Trends
5.1. Product Type Dynamics & Market Share, 2021 & 2028
5.2. Blanco
5.2.1. Market estimates and forecast, 2018 - 2028 (USD Million)
5.2.2. Market estimates and forecast, By Region, 2018 - 2028 (USD Million)
5.3. Reposado
5.3.1. Market estimates and forecast, 2018 - 2028 (USD Million)
5.3.2. Market estimates and forecast, By Region, 2018 - 2028 (USD Million)
5.4. Anejo
5.4.1. Market estimates and forecast, 2018 - 2028 (USD Million)
5.4.2. Market estimates and forecast, By Region, 2018 - 2028 (USD Million)
5.5. Others
5.5.1. Market estimates and forecast, 2018 - 2028 (USD Million)
5.5.2. Market estimates and forecast, By Region, 2018 - 2028 (USD Million)

Chapter 6. Tequila Market By Grade Insights & Trends
6.1. Grade Dynamics & Market Share, 2021 & 2028
6.2. Value
6.2.1. Market estimates and forecast, 2018 - 2028 (USD Million)
6.2.2. Market estimates and forecast, By Region, 2018 - 2028 (USD Million)
6.3. Premium
6.3.1. Market estimates and forecast, 2018 - 2028 (USD Million)
6.3.2. Market estimates and forecast, By Region, 2018 - 2028 (USD Million)
6.4. High-end Premium
6.4.1. Market estimates and forecast, 2018 - 2028 (USD Million)
6.4.2. Market estimates and forecast, By Region, 2018 - 2028 (USD Million)
6.5. Super Premium
6.5.1. Market estimates and forecast, 2018 - 2028 (USD Million)
6.5.2. Market estimates and forecast, By Region, 2018 - 2028 (USD Million)

Chapter 7. Tequila Market By Application Insights & Trends
7.1. Application Dynamics & Market Share, 2021 & 2028
7.2. Corporate Hospitality
7.2.1. Market estimates and forecast, 2018 - 2028 (USD Million)
7.2.2. Market estimates and forecast, By Region, 2018 - 2028 (USD Million)
7.3. Family Dinner
7.3.1. Market estimates and forecast, 2018 - 2028 (USD Million)
7.3.2. Market estimates and forecast, By Region, 2018 - 2028 (USD Million)
7.4. Others
7.4.1. Market estimates and forecast, 2018 - 2028 (USD Million)
7.4.2. Market estimates and forecast, By Region, 2018 - 2028 (USD Million)

Chapter 8. Tequila Market Distribution Channel Insights & Trends
8.1. Distribution Channel Dynamics & Market Share, 2021 & 2028
8.2. On-trade Sales
8.2.1. Market estimates and forecast, 2018 - 2028 (USD Million)
8.2.2. Market estimates and forecast, By Region, 2018 - 2028 (USD Million)
8.3. Off-trade Sales
8.3.1. Market estimates and forecast, 2018 - 2028 (USD Million)
8.3.2. Market estimates and forecast, By Region, 2018 - 2028 (USD Million)

Chapter 9. Tequila Market Regional Outlook

Chapter 10. Competitive Landscape
10.1. Market Revenue Share By Manufacturers
10.2. Manufacturing Cost Breakdown Analysis
10.3. Mergers & Acquisitions
10.4. Market positioning
10.5. Strategy Benchmarking
10.6. Vendor Landscape

Chapter 11. Company Profiles
11.1. Bacardi Ltd.
11.1.1. Company Overview
11.1.2. Financial Performance
11.1.3. Technology Insights
11.1.4. Strategic Initiatives
11.2. Campari America LLC
11.2.1. Company Overview
11.2.2. Financial Performance
11.2.3. Technology Insights
11.2.4. Strategic Initiatives
11.3. Diageo PLC
11.3.1. Company Overview
11.3.2. Financial Performance
11.3.3. Technology Insights
11.3.4. Strategic Initiatives
11.4. Eastside Distilling Inc.
11.4.1. Company Overview
11.4.2. Financial Performance
11.4.3. Technology Insights
11.4.4. Strategic Initiatives
11.5. Ambhar Global Spirits LLC
11.5.1. Company Overview
11.5.2. Financial Performance
11.5.3. Technology Insights
11.5.4. Strategic Initiatives
11.6. Becle SAB De CV
11.6.1. Company Overview
11.6.2. Financial Performance
11.6.3. Technology Insights
11.6.4. Strategic Initiatives
11.7. Constellation Brands Inc.
11.7.1. Company Overview
11.7.2. Financial Performance
11.7.3. Technology Insights
11.7.4. Strategic Initiatives
11.8. Brown-Forman Corporation
11.8.1. Company Overview
11.8.2. Financial Performance
11.8.3. Technology Insights
11.8.4. Strategic Initiatives
11.9. E. and J. Gallo Winery
11.9.1. Company Overview
11.9.2. Financial Performance
11.9.3. Technology Insights
11.9.4. Strategic Initiatives
11.10. Tequila Ocho
11.10.1. Company Overview
11.10.2. Financial Performance
11.10.3. Technology Insights
11.10.4. Strategic Initiatives

For more information about this report visit https://www.researchandmarkets.com/r/j3t9fa

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