Tequila Market is predicted to reach USD 18.4 billion at a CAGR of 6.90% during the forecast period 2023-2032

Market Research Future (MRFR) has published on the “Global Tequila Market”.

The Tequila market is estimated to register a CAGR of 6.90% during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the global Tequila market— Pernod Ricard S.A. (France),Diageo Plc (U.K.),Bacardi Limited (Bermuda),Suntory Holdings Limited (Japan),Heaven Hill Distilleries, Inc. (U.S.),Campari Group (Italy),Sazerac Company Inc. (U.S.),Brown-Forman Corporation (U.S.),Casa Aceves (Mexico),Constellation Brands, Inc. (U.S.)

Tequila Market Highlights

The global tequila market is accounted to register a CAGR of 6.90% during the forecast period and is estimated to reach USD 18.4 Billion by 2032.

The increase in demand for cocktails is the primary driver of the market. Premium and handmade variations are gaining appeal throughout the world as a result of changing lifestyles and rising disposable wealth. Tequila is becoming increasingly popular across the world, as the number of hotels, taverns, and restaurants grows. Tequila is used in a number of beverages, including the well-known margarita. Furthermore, prominent industry companies are releasing new flavours in order to attract more customers and extend their portfolios. The growing popularity of spirits among young people is also a major market driver.

Segment Analysis

The global tequila market has been segmented into type, grade and distribution channel.

On the basis of type, the market is segmented into blanco, reposado, anejo and others. The blanco segment dominated the market in 2022. Tequila blanco is highly sought after for its pure agave flavor. Since it is either unaged or has only recently aged, the agave plant's flavor has been kept.   

Based on grade, the global tequila market has been segmented into value, premium, high-end premium and super premium. The value segment dominated the market in 2022. A wide spectrum of consumers, including those on a limited budget, college students, and novice tequila drinkers, are drawn to value offerings. These customers might not have the extra money to purchase more expensive tequilas, but they nevertheless desire to occasionally partake in the beverage.

Based on distribution channel, the global tequila market has been segmented into on-trade and off-trade. The off-trade category generated the most income in 2022. Retailers typically run specials and design striking displays to entice visitors to the tequila section. Tequila sales can be considerably increased by these promotional activities, which include discounts, package deals, and themed displays.

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Regional Analysis

The global Tequila market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Tequila market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Tequila market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Tequila market comprises of Middle East, Africa, and Latin America.

The North America tequila market dominated this market in 2022 (45.80%). Geographically, Mexico, a country that produces tequila, is close to North America, especially the United States. Due to the easy access to a wide range of tequila brands and varieties made possible by this proximity, the area has developed an incredible taste for the booze.

Moreover, Europe is the second-largest market. Due to consumers seeking up and experimenting with various cocktail recipes, Europe has seen a development in the cocktail culture. Tequila's growth in the European market has been facilitated by its appeal in cocktails, particularly traditional mixtures like margaritas and tequila sunrises.

Additionally, from 2023 to 2032, the tequila market in Asia-Pacific is anticipated to experience the quickest CAGR growth. Due to the apparent influence of Western drinking culture in metropolitan centers and cosmopolitan regions, tequila has grown to be a popular and stylish spirit in bars and clubs.

Furthermore, the rest of the world's tequila market is divided into the Middle East, Africa, and Latin America. Latin America's tequila market experiences significant growth, fueled by a rising global appreciation for premium spirits. Mexico's dominance in tequila production and innovative branding efforts drive exports and boost consumption within the region.

Key Findings of the Study

• The global tequila market is expected to reach USD 18.41 Billion by 2032, at a CAGR of 6.90% during the forecast period.


• The Asia-Pacific region accounted for the fastest-growing global market Tequila has become a popular and trendy spirit in bars and clubs due to the apparent impact of Western drinking culture in urban centers and cosmopolitan regions.


• Based on distribution channel, the off-trade segment was attributed to holding the largest market in 2022,


• Pernod Ricard S.A. (France),Diageo Plc (U.K.),Bacardi Limited (Bermuda),Suntory Holdings Limited (Japan),Heaven Hill Distilleries, Inc. (U.S.),Campari Group (Italy),Sazerac Company Inc. (U.S.),Brown-Forman Corporation (U.S.),Casa Aceves (Mexico),Constellation Brands, Inc. (U.S.)