LONDON, April 21, 2015 /PRNewswire/ --
This latest market research report from just-drinks and The IWSR - 'Global Tequila insights - market forecasts, product innovation and consumer trends research' highlights last year's performance of the worldwide Tequila market followed by the strong growth between 2009 and 2013. Over the five-year period, Tequila volumes grew by a compound annual growth rate (CAGR) of 4.2% to reach 26.7m cases in 2013.
The market research report, published this week, forecasts that the Tequila sector will grow by a CAGR of 2.68% between 2014 and 2019, to reach 31.5m cases.
The US has consolidated its position as Tequila's largest market with around 52% of global sales, according to IWSR data. Sales in the country are expected to have reached 14.6m cases in 2014, the report notes, having achieved a CAGR of 5.56% between 2009 and 2013.
In Mexico, volumes were flat in 2013, at 8.4m cases, continuing a trend seen over the five-year period during which Mexico achieved a CAGR of only 1.25%. "Mexico is a very mature market and lacks the capacity for significant growth," the report states.
However, as indicated by the quickening rate of growth in 2014, this is certainly not the case with the US, which, according to the report, "has greater potential, with consumption stronger in states with a strong Latino presence and potential to push consumption in other regions".
Sales in Germany, however, have continued to slide. Having seen sales fall heavily in 2013, the report says that sales "almost certainly" continued to decline in 2014. But, a clutch of markets with sales over 200,000 cases - namely Canada, Brazil, the UK and Japan - all turned in single-digit growth in 2014.
Of the several markets with sales between 100,000 and 200,000 cases, only Australia recorded "significant" growth.
The report also reveals evidence of continuing trading-up in the Tequila category. Over the five-year review period, ultra-premium Tequila achieved a CAGR of +9.6%, while super-premium (+5.4% CAGR) and premium (+13.5% CAGR) also outperformed the standard segment which grew at a CAGR of +0.8%.
For full details see the Global Tequila insights report from just-drinks and The IWSR.
Established in 1999, just-drinks is the online resource for the global beverage industry, publishing around 20 news articles, analysis features and insights every working day. Under the direction of managing editor Olly Wehring, its experienced team of journalists, consultants and analysts provide a unique and comprehensive blend of reports and interpretation of the beverage industry, including key events, trends, interviews and research that are delivered to over 92,000 business executives per month.
Through its drinks industry analysis, research, news and CONSULT bespoke market research service, just-drinks offers insight into wine, beer, spirits, soft drinks, and bottled water industry developments, statistics and key supply-chain trends.
For details of how just-drinks is helping decision makers make decisions, visit http://www.just-drinks.com
About The IWSR
The IWSR is the leading source of data and analysis on the alcoholic beverage market. The IWSR's database, essential to the industry, quantifies the global market of wine, spirits, beer and RTDs by volume and value, and provides insight into short- and long-term trends. IWSR statistics are used by all of the largest multinational wine and spirits companies, as well as many more local companies.
The IWSR's unique methodology allows them to get closer to what is actually consumed and better understand how markets work. The IWSR conducts face-to-face interviews with 1,500 companies in 118 countries each year, with further input from 350 companies. The IWSR tracks overall consumption and trends at brand, quality and category level.
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SOURCE just-drinks.com / The IWSR