The new report by Informes de Expertos titled, ‘Mexico Tequila Market Size, Demand, Trend, Report and Forecast 2021-2026’, gives an in-depth analysis of the Mexico tequila market, assessing the market based on product type, purity, price range, distribution channels and key regions.
The report analyses key success factors and constraints, tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2016-2026)
- Forecast CAGR (2021-2026): X%
The market for Tequila in Mexico has been registering significant growth due to massive demand for the product, growing popularity of cocktail culture and the ongoing market developments. The high rates of tequila consumption in restaurants, bars and at homes are providing a significant boost to the market. Innovation and the introduction of new and exotic flavours in tequila are catering to the diverse consumer interests and preferences, thereby furthering the market growth.
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The demand for tequila also increased rapidly during the Covid-19 pandemic as the lockdown measures supported the trend of cocktail-making at home. With many people celebrating various events and festivals at home, the popularity of tequila has been on the rise. Moreover, the temporary shutdown of on-premise channels resulted in the growth of the e-commerce segment as online sales for tequila surged due to soaring popularity in the United States.
Industry Definition and Major Segments
Tequila is a liquor obtained from the agave plant. This plant contains juices which are then fermented and distilled to produce tequila. Tequila has become the most popular liquor in the world, although its popularity predominates mostly in Mexico as it is widely consumed in this region. Its production and inspection are limited to certain states in Mexico such as Nayarit, Michoacan, Tamaulipas, Guanajuato, and Jalisco, of which Jalisco is the key region where major tequila production takes place.
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By product type, the market is divided into:
Blanco
Joven
Mixto Gold
Reposado
Anejo
Extra Anejo
Based on purity, the market segments into:
100% Tequila
60% Tequila
By Price Range, the market is bifurcated into:
Premium Tequila
Value Tequila
Premium and Super-Premium Tequila
Ultra-Premium Tequila
Based on distribution channels, the market can be classified into:
Off-Trade
Supermarkets and Hypermarkets
Discount Stores
Online Stores
Others
On-Trade
Restaurants and Bars
Liquor Stores
Others
Key regions covered include:
Baja California
Northern Mexico
The Bajío
Central Mexico
Pacific Coast
Yucatan Peninsula
Market Trends
The new trend being witnessed in the tequila market is that of innovation and experimentation which is attracting new drinkers who are seeking something different than regular tequila. Moreover, emerging consumer preferences are driving the production of tequila with new variants prepared from organic ingrediants, which will shape the future market. Canned tequila cocktails are gaining traction due to their convenience and affordability which is expected to bolster market growth in the coming years.
Not only are the already-established key players investing more than ever into the industry, but many celebrities are introducing their own brands of tequila which is supporting the market growth. Another trend that is moving at a rapid pace is that of premiumisation. Furthermore, Cristalinos Tequilas, the aged expressions filtered to remove the colour of the liquid to create a clear spirit, have garnered much traction in the recent years and have become the largest super-premium expression in Mexico.
Additionally, the current trend for tequila indicates that global demand for tequila is not only increasing at a robust pace in countries like Canada and the USA but is also finding presence in the Asia-Pacific region and Australia. This, in turn, is allowing Jalisco and other states in Mexico to increase the production of agave plant, thereby helping the key players produce more tequila.
Key Market Players
The major players in the market are:
Becle A.B de C.V. (Jose Cuervo)
Sauza Tequila Import Company
Bacardi Limited
Brown-Forman
Diageo Plc.
Tequila Arette
Others
This report covers the market shares, expansions, investments and mergers and acquisitions, among other latest developments of these industry players.
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