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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Tequila Market Share
Blanco occupies a substantial portion of the global tequila market share due to its earthy and distinct flavour. Furthermore, its easy availability and high concentration of alcohol also contribute to its high demand among consumers. It makes an excellent base for cocktails due to its clean and bold flavour and its ability to be mixed in a variety of drinks, ranging from classic margaritas to exotic cocktails. Additionally, it is a preferred drink of choice among health-conscious consumers due to the presence of fewer additives and sugar compared to other traditional spirits.
Compared to aged tequilas like Reposado, Añejo, or Extra Añejo, Blanco tequila is generally more affordable. This makes it an accessible option for a broad range of consumers, including those who are new to tequila or who are looking for a high-quality spirit at a more moderate price point. The influence of Mexican culture and the global trend towards embracing diverse and ethnic spirits have also played a role in the popularity of Blanco tequila. Additionally, the trend of clean drinking and preference for spirits with fewer additives or ageing-related alterations supports the demand for Blanco tequila.
Tequila Market Report Snapshots
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 reached an approximate value of USD 11.87 billion.
The market is projected to grow at a CAGR of 6.00% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032, reaching a value of around USD 20.07 billion by 2032.
The major market drivers are the increased momentum of cocktail culture across the world and the popularity of tequila among health-conscious consumers due to its low calorie and sugar content.
The key trends of the market include the growing popularity of mixing spirits in cocktails, increasing consumption of premium spirits, the launch of new products with unique flavours, and the implementation of sustainable agave plantation methods by key players.
The major regions in the market are North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The various product types are blanco, joven, mixto gold, reposado, and anejo.
The key players in the market are Bacardi Limited, Diageo Plc, Constellation Brands, Inc., Pernod Ricard S.A., Beam Suntory Inc., Ambhar Global Spirits, LLC, Brown-Forman Corporation, Davide Campari-Milano N.V, Casa Aceves, and Proximo Spirits, Inc., among others.
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