Meta-Analysis of Global Tequila and Mezcal Market: Key Statistics and Trends

The global tequila & mezcal market in 2024 is worth USD 17 billion and is projected to grow to USD 22 billion by 2033, with a 10.9% CAGR. 

Our figures are based on our analysis of  ten different market research reports. However, our confidence in these figures is strong due to the converging nature of the estimates. A detailed description of our analysis methods is provided below.

Market Overview

Current Size and Growth Projections

As of 2024, the global tequila & mezcal market is valued at about USD 17 billion. Looking ahead, the market is expected to grow at a CAGR of 10.9%, reaching USD 22 billion by 2033.

This growth is driven by the globalization of consumer tastes, where luxury and status symbols play a crucial role, alongside the cultural significance of these beverages in social settings.

Major Market Segments

By Product Type

1. Mezcal Joven: Currently the largest segment, projected to account for approximately 55% of the mezcal market by 2024. Its popularity is driven by accessibility and appeal to younger consumers. In 2023, mezcal Joven held a market share of 52%.
2. Mezcal Reposado: Aged for a minimum of two months, this segment is gaining traction, expected to grow at a CAGR of 12.5% from 2024 to 2031, reflecting increasing consumer interest in nuanced flavors. In 2022, mezcal Reposado accounted for 18% of the market.
3. Mezcal Añejo: Aged for at least one year, this premium segment is anticipated to capture around 20% of the market share by 2024, appealing to consumers seeking richer, more complex profiles. In 2023, mezcal Añejo held a market share of 15%.
4. Other Mezcal Types: This includes specialty and flavored mezcals, projected to grow significantly, driven by innovative product offerings and unique flavor combinations. In 2022, other mezcal types represented 15% of the market.
5. Tequila Blanco: The most popular type of tequila, representing a significant portion of the tequila market, with a growing trend towards premium offerings. In 2024, tequila Blanco is expected to account for 45% of the tequila market.
6. Tequila Reposado: This segment, aged for at least two months, is expected to see increased demand as consumers explore more complex flavor profiles. In 2023, tequila Reposado held a market share of 30%.
7. Tequila Añejo: Aged for a minimum of one year, this segment is becoming increasingly popular among consumers looking for high-quality, aged spirits. In 2024, tequila Añejo is projected to capture 20% of the market share.

By Region

1. North America:
   • Dominated the tequila market with a 62.14% share in 2023 and valued at approximately USD 6.86 billion. The market is projected to grow to USD 11.69 billion by 2024.
   • For mezcal, North America held a 76.74% share in 2023, with expectations to reach USD 635 million by 2024.
2. Europe:
   • Expected to grow at a CAGR of 6.8% from 2022 to 2030 for tequila, with the market projected to reach USD 3.5 billion by 2024.
   • In the mezcal market, Europe is anticipated to see increasing demand, particularly for artisanal products, contributing to a projected market value of around USD 100 million by 2024.
3. Asia Pacific:
   • The tequila market is projected to grow at a CAGR of 10.2%, with a market value expected to reach USD 1.2 billion by 2024.
   • For mezcal, Asia Pacific is gaining popularity, particularly in countries like Japan and India, with a projected market share of approximately USD 50 million by 2024.
4. South America:
   • The tequila market is expected to grow modestly, with a projected value of around USD 800 million by 2024.
   • The mezcal market in South America is anticipated to capture a small share, estimated at USD 30 million by 2024, driven by growing consumer interest.
5. Middle East & Africa:
   • The tequila market is projected to reach approximately USD 400 million by 2024, with a growing interest in premium spirits.
   • The mezcal market in this region is expected to be valued at around USD 20 million by 2024, as awareness of agave spirits increases.

By Price Point

Tequila:

1. Premium Tequila: Accounts for approximately 40% of the tequila market in 2024, driven by consumer preference for high-quality, small-batch productions. The premium segment is expected to grow at a CAGR of 8% from 2024 to 2029.
2. Super-Premium Tequila: Represents 30% of the tequila market in 2024, with a projected CAGR of 12% from 2024 to 2029. This segment caters to consumers seeking rare, aged tequilas with complex flavor profiles.
3. Ultra-Premium Tequila: Holds a 20% market share in 2024, growing at a CAGR of 15% from 2024 to 2029. Consumers are willing to pay higher prices for exceptional, handcrafted tequilas with unique characteristics.
4. Value Tequila: Accounts for the remaining 10% of the market in 2024, with a projected CAGR of 5% from 2024 to 2029. This segment serves price-conscious consumers seeking affordable options.

Mezcal:

1. Premium Mezcal: Represents 45% of the mezcal market in 2024, with a projected CAGR of 16% from 2024 to 2029. Consumers are drawn to the authenticity and craftsmanship of premium mezcal brands.
2. Super-Premium Mezcal: Holds a 30% market share in 2024, growing at a CAGR of 18% from 2024 to 2029. This segment caters to consumers seeking rare, small-batch mezcals with exceptional quality.
3. Ultra-Premium Mezcal: Accounts for 20% of the market in 2024, with a projected CAGR of 20% from 2024 to 2029. Consumers are willing to pay premium prices for mezcals with unique agave varietals, production methods, and aging processes.
4. Value Mezcal: Represents the remaining 5% of the market in 2024, with a projected CAGR of 10% from 2024 to 2029. This segment serves price-conscious consumers seeking affordable options.

Industry Trends and Dynamics

Premiumization and Craft Spirits

The demand for artisanal and premium mezcal variations continues to rise, with premium spirits expected to account for 45% of the mezcal market in 2024, growing at a CAGR of 16% through 2034.

In tequila, premiumization is evident as 54% of consumers aged 18-34 prefer premium drinks, with the segment projected to grow by 35.2% in dollar share for premium and above spirits in the past year.

Sustainability and Organic Products

Consumers are increasingly seeking “additive-free” spirits, with the 100% tequila concentration segment, holding 56% of the global value share as of 2023.

The trend towards sustainability is reflected in the rising demand for organic products, with 30% of mezcal consumers indicating a preference for sustainably produced spirits in 2024.

Innovation in Flavors and Aging

Producers are experimenting with different agave varieties and aging techniques, with flavored mezcal projected to grow at a CAGR of 14.2% by 2034.

In tequila, innovative blends and unique flavor profiles are gaining traction, with the flavored tequila segment expected to capture 20% of the market share by 2024, driven by consumer interest in diverse tasting experiences.

Industry Drivers and Challenges

Increasing Popularity of Agave Spirits

The tequila and mezcal market is experiencing dynamic growth, with mezcal volumes projected to rise by a CAGR of 10% from 2022 to 2027. Tequila is expected to increase by 7% over the same period, driven by a growing consumer interest in agave spirits, particularly among millennials.

Consumer Education and Awareness

Increased consumer knowledge about the differences between tequila and mezcal is driving demand for authentic products. Approximately 60% of consumers are now aware of the unique production methods and flavor profiles of these spirits, enhancing their market appeal.

Stringent Regulations

Stringent regulations regarding the production and sale of mezcal are likely to slow down exports to the U.S. and Europe. Compliance with these regulations is expected to increase operational costs by 15% for producers, impacting profitability.

Agave Shortage

The rising demand for mezcal has led to a significant agave shortage, with projections indicating that agave prices may increase by 20-30% in the next few years. This shortage poses a challenge for producers to maintain supply and quality.

Market Saturation

The influx of new brands in the tequila and mezcal markets has created a saturated environment. As competition intensifies, smaller brands may struggle to survive, leading to potential market consolidation.

Consumer Insights

Per Capita Consumption

Tequila: In 2024, the average per capita consumption of tequila in the U.S. is projected to reach 1.5 liters, reflecting a steady increase from 1.3 liters in 2023.

Mezcal: The average per capita consumption of mezcal is expected to rise to 0.3 liters in 2024, up from 0.25 liters in 2023, indicating growing interest in this spirit.

Shifts in Consumer Preferences

Approximately 70% of consumers now prefer spirits with transparent labeling, and 65% actively use mobile apps to verify product authenticity through QR codes, a trend that has gained momentum since 2023.

Consumers are increasingly embracing the cultural heritage of agave spirits, with 60% of new consumers reporting a desire to explore the unique flavor profiles and production methods of both tequila and mezcal. This trend is particularly strong among millennials and Gen Z, who are driving the market’s growth.

Impact of Celebrity Endorsements

Celebrity endorsements have boosted brand visibility and consumer interest, with brands experiencing a 25% increase in sales following high-profile partnerships. This trend is particularly pronounced in the tequila market, where celebrity-owned brands are gaining traction.

Conclusion

In 2024, the global tequila and mezcal market is valued at USD 17 billion and is projected to reach USD 22 billion by 2033, with a 10.9% CAGR. Key takeaways include:

• Product Shifts:
  • Tequila Blanco leads with 45% of the market, but premium segments like Reposado and Añejo are growing quickly.
  • Mezcal Joven dominates with 55% of the market, while premium mezcal is gaining traction.
• Regional Growth: North America leads with over 60% market share, while Europe and Asia are seeing rising demand for premium spirits.
• Trends: Premiumization is driving growth, with premium products making up 40-45% of the market by 2024. Sustainability and organic products are also in demand.
• Challenges: Agave shortages may increase prices by 20-30%, and stricter regulations could slow exports.

The future of the tequila & mezcal market will rely on adapting to consumer demand for quality and authenticity, while managing industry challenges like supply constraints and regulatory pressures.

References and Data Sources

How did we analyze our Sources?

To gain a complete understanding of the global tequila & mezcal market, we’ve analyzed data from ten different market research reports each. Using our own weighted criteria, we selected the top three reports with the highest scores for tequila & mezcal and based our estimate on their findings.

In total, Tequila and Mezcal market:

Please note: Data marked with * is estimated based on original sources.

How did we grade our Sources?

• 4 = Highly useful, clear, and resistant to manipulation
• 0 = Provides no indication of reliability

How did we determine our Market Size?

Understanding the market’s direction can be challenging based on these estimates. 

However, we are reasonably confident in our projections. The three sources from both topics align closely with each other and with other data, supporting the overall growth trend.

We encourage you to critically assess the data and consider various perspectives to form your own insights into the future of the tequila & mezcal market.

Nathan Fitzgerald

Nathan has always been captivated by numbers and patterns. With a Master’s degree in Statistics, he’s honed his skills to decipher complex data sets and discern market trends.

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Over the past decade, Nathan has worked with various firms compiling and analyzing industry spending figures to forecast market movements.