Tequila is a distilled alcohol made
from the fermented juice of the weber blue agave plant, which is distilled. The
agave plant belongs to the lily family, and it takes 7-12 years for it to grow
before it can be used to make tequila.' Tequila is a powerful alcoholic
beverage that originated in Mexico and is used to make a variety of mixed
beverages.
Market Dynamics:
The worldwide
tequila market is predicted to rise in response to the growing
popularity of cocktail culture. Tequila is becoming more popular in cocktails,
and its use is not limited to bars and restaurants; it is also becoming more
popular at house parties. With the shift in consumer preferences from binge
drinking to more sophisticated drinking, the market is also gaining traction.
In the United States, for example, demand for artisan tequila is booming.
Individual economic growth, which contributes to an increase in consumption for
alcohol such as tequila, and infrastructural development are two more reasons
that are driving up demand for tequila.
Market Outlook:
The tequila market is divided into
blanco, joven, mixto gold, reposado, anejo, and extra anejo categories based on
product type. Over the forecast period, the blanco category is expected to
dominate market growth. Blanco tequila is also referred to as plata tequila or
silver tequila. After being distilled, this sort of tequila is normally
bottled, unaged, and packaged.
Over the projection period, North
America is expected to have a leading position in the market. Increased tequila
consumption among the populace is responsible for the market's rise in the
region. Increased demand for tequila by various business sectors in the region,
including as restaurants, bars, and pubs, is also driving the market in North
America. Tequila use is increasing in Europe and Asia Pacific countries,
compared to other alcoholic beverages, due to public perceptions that tequila
is sophisticated and less hazardous than other alcoholic beverages.
Key players:
Tequila Cuervo La Rojea, S.A. de C.V.,
Don Julio, Tequilera Corralejo S.A. de C.V., Tequila512, AMBHAR Worldwide
Spirits LLC., Dos Lunas Spirits, LLC, El Grado, Tequilera de Arandas Company,
Cascahuin Distillery, and William Grant & Sons, Inc. are among the major
companies in the global tequila industry.
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