Tequila is a distilled spirit, which is prepared by distillation of the fermented juice of weber blue agave plant. The agave plant is a member of the lily family and it takes 7-12 years to mature before tequila can be produced’. Tequila is a strong alcoholic liquor that was originated in Mexico and at times forms the basis for many types of mixed drinks.  

Market Dynamics:

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.

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.

Among regions, North America is expected to hold a dominant position in the market over the forecast period. The growth of the market in the region can be attributed to increased consumption of tequila within the population. The market in North America is also driven by increasing demand of tequila by various business sectors such as restaurants, bars and pubs within the region. In the countries of Europe and Asia Pacific, the consumption of tequila is increasing compared to other alcoholic drinks due to the perception among the population that tequila is sophisticated and less harmful compared to other alcoholic drink. Moreover, it is expected that Mexico would gain a significant position within the global tequila market as it is a place of origin for excellent and authentic tequila.

Key players:

Key players operating in the global tequila market include Tequila Cuervo La Rojeña, S.A. de C.V, Don Julio, Tequilera Corralejo S.A. de C.V., Tequila512, AMBHAR Global Spirits LLC., Dos Lunas Spirits, LLC, El Grado, Tequilera de Arandas Company, Cascahuin Distillery, and William Grant & Sons, Inc. amongst others.

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

On the basis of distribution channel, the global tequila market is segmented into:

  • B2B
  • B2C
  • E-commerce

On the basis of region, the global tequila market is segmented into:

  • North America
    • U.S.
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Europe
    • U.K.
    • Germany
    • Italy
    • France
    • Spain
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • ASEAN
    • Australia
    • Rest of Asia Pacific
  • Middle East & Africa
    • Middle East
    • Africa

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

Data Triangulation Methodology | Coherent Market Insights

Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.

Market Analysis | Coherent Market Insights

Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users