U.S. Markets closed

Global Tequila Market to Witness Growth Through 2021, Owing to the Introduction of New Flavors: Technavio

Technavio has published a new report on the global tequila market from 2017-2021. (Graphic: Business Wire) Multimedia Gallery URL


The global tequila market is expected to generate a revenue of more than USD 9 billion by 2021, according to Technavio’s latest market research.

This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170309005955/en/

In this market research report, Technavio covers the market outlook and growth prospects of the global tequila market for 2017-2021. The report segments the market into four major product segments, which are premium, value, super premium, and high-end premium. The premium segment dominated the market with close to 42% of the market share in 2016.

“Consumers are demanding innovative and exotic flavors in their drinks. The introduction of new flavors by major players to cater to the changing taste preference of consumers is boosting the demand for tequila,” says Manjunath Reddy, a lead alcoholic beverages research expert from Technavio.

Technavio’s food and beverage research analysts segment the global tequila market into the following regions:

  • Americas
  • EMEA
  • APAC

Tequila market in the Americas

Countries such as the US, Mexico, and Canada are the key contributors to the growth of the tequila market in the Americas. The US is the leading country in the global tequila market in terms of both revenue and volume.

The rising demand for premium tequila in the US along with the growing Hispanic population are factors driving the tequila market in the Americas. Also, the availability of innovative products and launch of flavored tequila will further drive the tequila market in the Americas during the forecast period.

Request a sample report: http://www.technavio.com/request-a-sample?report=57078

Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.

Tequila market in EMEA

Germany, Russia, South Africa, and France were the key leading contributors to the market in EMEA in 2016. The increasing demand for premium tequila among consumers is one of the major drivers of the market in the region. An increase in demand from female consumers who consume prestigious and flavored drinks apart from vodka boosts the growth of the market in Europe.

“An increase in endorsements by celebrities, development of innovative packaging techniques, and growing online retail is expected to propel the growth of the market in Europe during the forecast period,” says Manjunath.

Tequila market in APAC

APAC is the fastest growing region in the global tequila market. The growing population in APAC offers immense opportunities to market vendors. China and India have the highest market potential for spirits and alcohol, as they are the most populous countries in the region. An increase in disposable incomes, changes in lifestyle, and increasing adoption of western culture are some of the factors driving the tequila market in APAC.

The tequila in APAC market suffers from shortcomings in the form of lack of awareness, limited supplies, and rising prices, however, it is expected to exhibit growth during the forecast period due to factors such as premiumization, trade pacts between governments, and growing e-commerce in the region.

The top vendors in the global tequila market as highlighted in this market research analysis are:

  • Beam Suntory
  • Brown-Forman
  • Patrón Spirits International

Browse Related Reports:

Become a Technavio Insights member and access all three of these reports for a fraction of their original cost. As a Technavio Insights member, you will have immediate access to new reports as they’re published in addition to all 6,000+ existing reports covering segments like food, food service, and non-alcoholic beverages. This subscription nets you thousands in savings, while staying connected to Technavio’s constant transforming research library, helping you make informed business decisions more efficiently.

About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

If you are interested in more information, please contact our media team at media@technavio.com.

View source version on businesswire.com: http://www.businesswire.com/news/home/20170309005955/en/

MULTIMEDIA AVAILABLE:http://www.businesswire.com/news/home/20170309005955/en/