According to IMARC Group’s latest report, titled “Tequila Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025”, the global tequila market grew at a CAGR of around 4% during 2014-2019. Looking forward, IMARC Group expects the global market to continue its moderate growth during the next five years.
Tequila is a distilled alcoholic beverage manufactured from the Agave Tequilana plant. It is fermented with sweeteners, such as glucose and fructose, and contains artificial flavoring additives. The alcohol content, flavor, and color of tequila generally depend on the duration of the aging process. Consuming tequila in moderate quantity helps in digestion, improving probiotic levels, enhancing the absorption of calcium and magnesium, and supporting healthy microbes in intestines. This alcoholic beverage has gained traction among the urbanized and millennial population as it is used as the main ingredient in several cocktails.
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The prevalent trend of cocktail culture across the globe in both outside and in-house parties is augmenting the global tequila market growth. Moreover, improving consumer living standards supported by their inflating income levels have led to an increase in the sales of ultra-premium and exclusive handcrafted tequila variants worldwide.
Additionally, the leading manufacturers are emphasizing on producing innovative variants using natural ingredients, such as lemon, coconut tangerine, strawberry, pineapple, mango, and pear, to expand their product portfolio. They are also offering canned tequila cocktails that allow on-the-go consumption of the beverage, thereby propelling the growth of the global tequila market.
Tequila Market 2020-2025 Competitive Analysis and Segmentation:
The competitive landscape of the tequila market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
The report has segmented the global tequila market on the basis of product type, purity, price range, distribution channel and region.
Breakup by Product Type:
Breakup by Purity:
Breakup by Price Range:
Breakup by Distribution Channel:
Breakup by Region:
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