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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Mexico Tequila Market Regional Analysis
Baja California and Northern Mexico account for a significant share of the Mexico market due to the growing consumption of the spirit in the region. With Mexico being the leading tequila producer across the globe, the product has become extensively affordable in the country. The market growth can further be associated with the rising demand for cocktails such as margaritas, which are primarily made up of tequila and are available through on-trade channels.
The Bajío, Central Mexico, Pacific Coast, and Yucatan Peninsula are likely to grow over the forecast period on account of the rising availability of tequilas with innovative texture and flavour profiles. The growing demand for premium, ultra-premium, and super-premium tequilas by consumers with inflating disposable incomes is expected to provide a further impetus to the market.
Jalisco is one of the most significant tequila-producing regions in Mexico and is home to the town named Tequila. The Mexico tequila market growth can also be attributed to the presence of various leading global distilleries in the region. As the demand for tequila in the global market is witnessing a boom, the manufacturing of tequila in the region is significantly increasing.
Various innovative tequilas are being developed in collaboration with prominent regional distilleries in Jalisco. For instance, in October 2020, Volcán de Mi Tierra collaborated with Jalisco's prominent Gallardo family to create and launch Volcán De Mi Tierra Reposado, its latest expression from the super-premium tequila brand. With the growing demand for ethically-sourced tequila, the sustainable cultivation of blue agave is likely to increase, thereby aiding the market in the forecast period.
Mexico Tequila Market Report Snapshots
Mexico Tequila Market Analysis
Mexico Tequila Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the market attained a value of nearly USD 3,259.1 million.
The major regions in the market are the Bajío, Yucatan Peninsula, Central Mexico, Pacific Coast, Northern Mexico, and Baja California.
The major product types of tequila in the market are joven, anejo, blanco, reposado, extra anejo, and mixto gold.
Mexico is the largest consumer of tequila across the globe. As tequila is the national drink of Mexico, the consumption of tequila amounts to 0.63 litres per person.
Tequila is made from the blue agave plant that is typically grown in Mexico. Mexican regions such as Michoacán, Tamaulipas, Nayarit, Guanajuato, and, Jalisco are some of the most popular tequila-producing states in the world.
The market is being aided the growing launches of innovative tequilas, the increasing demand for tequila in international markets, and the rising consumption of margaritas.
The market is likely to be supported by the rising preference for premium tequila, the growing demand for flavoured tequila, and surging tequila sales from on-trade channels.
The market is estimated to grow at a CAGR of 6.50% between 2024 and 2032.
The significant purity segments in the market include 100% tequila and 60% tequila.
The several price ranges of tequila are value tequila, premium tequila, ultra-premium tequila, and premium and super-premium tequila.
The tequila market in Mexico is estimated to reach about USD 5,744.5 million by 2032.
The different distribution channels in the market are on trade and off trade.
The major players in the market are Diageo plc, The Patron Spirits Company, Proximo Spirits, Inc., Heaven Hill Sales Co. d.b.a., and Charbay Distillery, among others.
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