London, 22 January 2015: TechNavio, the independent tech-focused global research firm, has published a report on the Tequila Market in the US 2015-2019, which is expected to witness moderate growth both in terms of revenue and volume, posting CAGRs of 2.90 percent and 2.94 percent, respectively, during the forecast period of 2014-2019.
The increased consumption of different varieties of tequila, extensive planting of agave plants in the past, and the increase in demand for premium tequila are some of the key factors driving the growth of the Tequila market in the US. Some of the highest tequila consuming states in the US are Arizona, California, Florida, and Texas.
“The increase in the number of certified organic tequilas is expected to increase its demand during the forecast period,” says Faisal Ghaus, Vice President of TechNavio.
“Increased health consciousness and concerns regarding the harmful toxins present in the raw materials used in the production of tequila are resulting in an increase in the demand for organic tequila.”
Key Market Drivers
- Increase in Demand for Premium Tequila
- Growing Cocktail Culture
- Extensive Plantation of Agave in the Past
- Increased Demand for Handcrafted Tequila
Key Market Trends
- Growing Adoption of Organic Practices
- Growing Demand for Flavored Tequila
- Launch of New Products
Key Market Vendors
- Jose Cuervo
- Patrón Spirits
- Sauza Tequila
To define the market circumstances in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
