Global Tequila Market Growth Forecasts 2021-2028: Asia Pacific Set for Fastest Growth in the Global Tequila Market

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Sep 07, 2021, 06:45 ET

DUBLIN, Sept. 7, 2021 /PRNewswire/ -- The "Global Tequila Market 2021-2028" report has been added to ResearchAndMarkets.com's offering.

The global tequila market is forecast to witness growth at a CAGR of 4.71% over the forecasted period of 2021-2028.

Factors such as growing preference for premium tequila, the launch of new experimental flavors, and changing perception of tequila owing to its health benefits are driving the market's growth. In recent years, there has been a growing demand for innovative and exotic flavors by consumers. As a result, players are introducing new flavors to meet the growing demand. For instance, Dulce Vida Spirits added a new line of flavored tequilas, including lime and grapefruit.

However, the dependency on the US and Mexico, rising raw material costs, and anti-alcohol campaigns are impeding the tequila market's expansion.

Asia-Pacific is anticipated to witness the fastest growth rate in the tequila market. The rise in population in the region has created several opportunities for vendors. For instance, the wide population base in China and India has the highest potential for spirits and alcohol. Additionally, the surge in disposable income, lifestyle changes, and increasing adoption of western culture are influencing the demand for tequila across the region. Furthermore, premiumization, trade pacts, and rising e-commerce platforms are another set of factors widening the market's growth in the APAC region.

The leading companies in the tequila market include Diageo Plc, Asahi Group Holdings Ltd, E and J Gallo Winery Inc, Constellation Brands, Jose Cuervo, Beam Suntory Inc, Brown Forman Corporation, Tequila Centinela, La Martiniquaise, Pernod Ricard SA, Anheuser Busch Inbev, Bacardi and Co Ltd, Sazerac Company Inc, and Luxco Inc.

Bacardi and Co Ltd produces and markets a wide range of spirits and wines. The company provides its products under a portfolio of multiple brands, including Bacardi, Dewar's, Martini, and Grey Goose, among others. It has operations across numerous regions, including Asia-Pacific, Latin America, Europe, and North America. Additionally, it has over 29 production facilities comprising botting, distilling, and manufacturing. Bacardi is headquartered in Hamilton, Bermuda.

Key Topics Covered:

1. Global Tequila Market - Summary

2. Industry Outlook
2.1. Impact of Covid-19 on Tequila Market
2.2. Key Insights
2.2.1. Tequila Brands Supporting Women Empowerment
2.2.2. Tequila's Evolution as a Drink
2.3. Porter's Five Forces Analysis
2.4. Market Attractiveness Index
2.5. Vendor Scorecard
2.6. Key Market Strategies
2.7. Market Drivers
2.7.1. Growing Preference for Premium Tequila
2.7.2. Introduction of New Experimental Flavors
2.7.3. Changing Perception of Tequila Due to Health Benefits
2.8. Market Challenges
2.8.1. Over-Reliance on the US and Mexico Due to Concentrated Production
2.8.2. Rising Raw Material Costs
2.8.3. Anti-Alcohol Campaigns
2.9. Market Opportunities
2.9.1. Rising Number of Tequila Startups
2.9.2. Influence of Cristalino Tequila

3. Global Tequila Market Outlook - by Product

4. Global Tequila Market Outlook - by Distributors

5. Global Tequila Market - Regional Outlook

6. Competitive Landscape
6.1. Anheuser Busch Inbev
6.2. Asahi Group Holdings Ltd
6.3. Bacardi and Co Ltd
6.4. Beam Suntory Inc
6.5. Brown Forman Corporation
6.6. Constellation Brands
6.7. Diageo plc
6.8. E and J Gallo Winery Inc
6.9. Jose Cuervo
6.10. La Martiniquaise
6.11. Luxco Inc
6.12. Pernod Ricard Sa
6.13. Sazerac Company Inc
6.14. Tequila Centinela

7. Research Methodology & Scope

For more information about this report visit https://www.researchandmarkets.com/r/qh78jq

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