What is the projected growth rate (CAGR) of the Tequila Market from 2024 to 2031, and what is the market value expected to change by 2031?

The Global Tequila Market reached US$ 10.5 billion in 2022 and is projected to witness lucrative growth by reaching up to US$ 16.1 billion by 2031. The market is growing at a CAGR of 5.5% during the forecast period 2024-2031.

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What is the Tequila Market ?

Tequila is a distilled alcoholic beverage made primarily from the blue agave plant (Agave tequilana) grown in designated regions of Mexico. Known for its distinct flavor profile, it is produced through harvesting, fermenting, and distilling agave, and is enjoyed globally in cocktails, mixed drinks, or as a premium sipping spirit.

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Conclusion

As global demand for premium and craft spirits grows, tequila is gaining recognition for its authenticity, heritage, and versatility. With rising consumer interest in artisanal production, sustainable sourcing, and premium experiences, tequila is positioned as a leading spirit in the global alcoholic beverage market.

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Top Key Companies:

Diageo Plc., Tequila Ocho, Bacardi & Company Ltd., Vault Fine Spirits Pvt. Ltd., Charbay Distillery, Tequila Fortaleza, Proximo Spirits, Inc., Brown-Forman Corporation, Pernod Ricard S.A and Casa Aceves Spirits.

Market Segments:

By Type: Blanco, Anejo, Reposado and Others

By Grade: Premium, Value, Ultra-premium, Super Premium and Others

By Distribution Channel: Off-Trade and On-Trade

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