Tequila Market Is Growing Rapidly With Scottish Whisky Company William Grant & Sons, Inc. Acquires A Distillery In Mexico To Support Growth Of Its Tequila Brand Milagro

Tequila Market


 Tequila is known to be a very flexible spirit, so much so that there are hundreds of applications for it all over the world. There are many ways to use it as well as many different recipes for it. One of the applications of tequila may surprise some people, and that is to be used in cocktails. Most bartenders will stock their bars with some version of tequila, so if you know a few bartenders, ask them which is the best to use for mixing drinks such as Manhattan or martini. Another interesting application of tequila involves using tequila as a calorie burner. Many tequila brands contain agave nectar, which is a kind of sweet corn sugar that burns very efficiently. The reason that it burns well is that tequila contains tannic acid, which also contributes to weight loss.

Improvement in the economic condition of individuals leading to cocktail culture is expected to drive growth of the global tequila market. Disposable income across the globe in both developed and emerging economies has increased significantly over the years. According to the Organisation for Economic Co-operation and Development (OECD), in 2017, the gross adjusted disposable income in the U.S. was US$ 50,444 per capita increasing from US$ 45,960 per capita in 2014. As a result of this, the trend of cocktail culture is rapidly growing, especially in the urban population. Tequila is one of the essential ingredients in cocktails and thus it has witnessed massive demand. Therefore, these factors are expected to drive growth of the global tequila market. Furthermore, growing consumer preference from binge drinking to sophisticated drinking is expected to propel the global tequila market.

However, declination in the cultivation of agave plants, especially in Mexico is expected to restrain growth of the global tequila market in the near future. Among regions, North America is expected to witness significant growth in the global tequila market. This is owing to a high consumption of tequila in various business sectors and restaurants. Furthermore, Europe and Asia Pacific are expected to register a robust growth rate, owing to rising consumption of tequila as compared to other alcoholic drinks in the region.

Key companies operating in the global tequila market are Tequila Cuervo La Rojeña, William Grant & Sons, Inc., S.A. de C.V, Don Julio, Tequilera de Arandas Company, Tequila512, Jose Cuervo Tradicional, El Grado, AMBHAR Global Spirits LLC., and Dos Lunas Spirits, LLC.

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