Tequila Market Poised for Significant Growth, Projecting a Rise to USD 18.58 Billion by 2032 at a 5.97% CAGR

The tequila industry report covers key companies such as Diageo Plc (U.K.), Heaven Hill Distilleries, Inc. (U.S.), Campari Group (Italy), and Others.

NY, UNITED STATES, September 17, 2025 /EINPresswire.com/ -- Market Overview -
The global tequila market size was valued at USD 11.04 billion in 2023 and is projected to grow from USD 11.69 billion in 2024 to USD 18.58 billion by 2032, exhibiting a CAGR of 5.97% during the forecast period. North America dominated the tequila market with a market share of 62.14% in 2023.

Tequila is a distilled spirit from Mexico made from the juices of the Weber blue agave plant. According to the International Wine and Spirit Research (IWSR), blue agave plant distilled beverage has been the category's second-fastest-growing spirit in recent years, says Fortune Business InsightsTM in its report titled, “Tequila Market Size Analysis and Industry Report, 2024-2032”.

List of Key Market Players:
● Pernod Ricard S.A. (France)
● Diageo Plc (U.K.)
● Bacardi Limited (Bermuda)
● Suntory Holdings Limited (Japan)
● Heaven Hill Distilleries, Inc. (U.S.)
● Campari Group (Italy)
● Sazerac Company Inc. (U.S.)
● Brown-Forman Corporation (U.S.)
● Casa Aceves (México)
● Constellation Brands, Inc. (U.S.)

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Segmentation-

By Type, Blanco to Account for Major Market Share
On the basis of type, the market is divided into blanco, reposado, anejo, and others. Blanco variants account for a sizable portion due to their earthy, semi-sweet, distinct agave flavor. Its smoother taste and wide availability result in widespread consumption. The widespread use of blanco variants in various cocktails such as margaritas and Palomas contributes to the market's dominance.

By Grade, Premium Variant to be Leading Segment
The premium variant will lead the tequila market share as consumers demand high-quality craft spirits. The premium-grade spirit combines desirable characteristics that consumers value, such as sensory appeal, mouthfeel, and texture. The demand for such luxury spirit variants is primarily driven by millennials and young adults.

By Distribution Channel, On-Trade Sales to be the Major Distribution Channel
The on-trade sales channel is one of the most prominent alcohol sales channels, and it is expected to dominate the market share. Consumers prefer quick servings, entertainment, and ambiance in developed economies, driving on-trade sales. However, the off-trade channel is expanding rapidly because purchasing alcohol from supermarkets, and brick-and-mortar stores is much more cost-effective.

Drivers & Restraints-

Market Growth is driven by Consumers' interest in New Flavors and Exotic Tastes
One of the major factors driving demand for blue agave plant-based distilled spirits is the growing popularity of various artisanal spirits among consumers worldwide. Consumers worldwide want fresh and delicious exotic drinks with a distinct flavor, propelling the market growth. However, in recent years, as we have seen an increase in spirits consumption, particularly in developing regions, developed countries have predicted a shift in consumer preferences toward low and no alcoholic beverages. Their growing awareness of the negative effects of alcohol consumption has led them to seek out low or no alcohol drinks that taste just like alcoholic beverages but without the negative consequences. This factor may impede the tequila market growth.

Regional Insights-

North America Held the Dominant Position in the Market

North America dominated the market in 2021, with a market value of USD 6.09 billion. This is due to a growing consumer preference for agave-based spirits in the U.S. and Mexico. According to the Distilled Spirits Council of the U.S., agave-based spirits sales will increase 30.1% to USD 5.2 billion in 2021.
The European market is expected to grow significantly due to the increasing popularity of artisanal spirits in Germany, Spain, and the U.K. with its craftsmanship, heritage, and protected status, tequila is well-positioned to benefit from the region's popularity of craft spirits, where more drinkers are looking to 'drink better and turning to premium brands.

In the Asia Pacific, the spirit has gained popularity among consumers, particularly millennials in China and Australia. Increased imports and consumers seeking quality over quantity and preferring small-batch spirits have fueled the market growth.
Alcohol consumption is increasing in Latin American countries such as Brazil and Argentina, which will likely contribute to the region's overall performance. Premiumization and innovation trends in white spirits are observed in the Middle East and Africa, supporting tequila market growth.

Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/tequila-market-104172

Frequently Asked Questions:
1. How big is the tequila market?
The global tequila market size was valued at USD 11.04 billion in 2023 and is projected to grow from USD 11.69 billion in 2024 to USD 18.58 billion by 2032, exhibiting a CAGR of 5.97% during the forecast period..

2. What is the current value and future projection for the global tequila market?
The global tequila market is valued in the billions of dollars, driven by strong consumer demand. Projections show robust compound annual growth (CAGR) over the next decade.

3. What are the key growth drivers for the global tequila market?
Growth is primarily fueled by the "premiumization" trend, with consumers seeking high-quality, 100% agave spirits. The expanding global cocktail culture and celebrity brand endorsements are also major contributors.

4. Which regions are demonstrating the strongest performance in the tequila market?
North America, led by the United States, remains the largest and most dominant market for tequila consumption. However, the Asia-Pacific and European regions are emerging as high-growth areas.

5. What are the most significant trends currently shaping the global tequila market?
Key trends include a rising interest in sustainable and artisanal production methods. The development of new expressions like Cristalino and ready-to-drink (RTD) tequila cocktails is also shaping the market.

Ashwin Arora
Fortune Business Insights™ Pvt. Ltd.
+ +1 833-909-2966
email us here

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