DUBLIN, Jan. 14, 2016 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/kh4dxz/tequila_market_in) has announced the addition of the "Tequila Market in Latin America 2015-2019" report to their offering.
The tequila market in Latin America to grow at a CAGR of 1.89% by volume and 2.62% by revenue during the period 2014-2019.
The tequila market in Latin America has a tremendous consumer base. The rising exports to the US, Russia, and Germany are driving the market. The exports from Mexico of agave tequila rose by 16% in 2013. The rising disposable income in countries such as Mexico and Venezuela is expected to drive the market during the forecast period.
The report covers the present scenario and the growth prospects of the tequila market for 2015-2019. To calculate the market size, the report considers revenue generated through sales of tequila bottles in the Latin American market. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
According to the report, agave is the only raw material used in the production of tequila. Currently, the market is driven by the consistent supply of agave plants resulting from high plantation in 2004. According to the exhibit below, the largest area of agave plantations, i.e., 51 hectares, was planted in 2004. Since an agave plant takes 8-10 years after planting to be ready for harvest, the market has had an ample supply of agave since 2012. This will trigger the future growth of the global tequila market.
Further, the report states that many people consume tequila as a favorite drink, but health-conscious people are shifting to nonalcoholic drinks. Also, beer has been affecting the market by posing competition.
The market is divided into the following segments based on product:
Key vendors
Other prominent vendors
For more information visit http://www.researchandmarkets.com/research/kh4dxz/tequila_market_in
Media Contact:
Laura Wood , +353-1-481-1716, [email protected]
SOURCE Research and Markets
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