Tequila Market Size, Share, Growth Analysis, By Type(Blanco, Reposado, Anejo, Others), By Grade(Value, Premium, High-end Premium, Super-Premium), By Distribution Channel(Off-Trade and On-Trade), By Region - Industry Forecast 2024-2031

Due to very widespread tequila consumption, North America holds the highest share of the global tequila market. In North America, industries like restaurants, bars, and pubs are expanding rapidly, which could be a driver for the tequila market. Due to the enormous increase in tequila consumption in the region, North America follows Western Europe in the worldwide tequila market. Due to changes in consumer behaviour, the Asia-Pacific region, except Japan, accounts for a disproportionately high volume share of the global tequila market.

Over the forecast period, Eastern Europe and Japan will also hold a sizeable value share of the global tequila market. People in these regions have started to favour tequila over other alcoholic beverages because of the widespread belief that it is more sophisticated and less harmful than other alcoholic beverages.

As alcohol consumption is often restricted in MEA due to the dominance of Islamic culture, the outlook for the expansion of the tequila market is not promising. The tequila market has been thriving in Latin America. Since quality and genuine tequila originates in Mexico, most Latin countries are more likely to have a preference for tequila than other countries. Latin America is experiencing rapid market expansion.