LONDON, August 1, 2017 /PRNewswire/ --
Global sales of agave-based spirits are poised for further growth, new research claims, as Tequila's success continues in the next few years, supplemented by the increasing significance of mezcal.
According to the Global Tequila and Mezcal Insights joint-report from just-drinks and the IWSR, released this week, sales of Tequila will move up from their current level of just over 30m cases to nearly 35m cases in 2021. While mezcal remains tiny in comparison at 640,000 cases in 2016, the segment is growing dynamically in Mexico and the US - as illustrated by Pernod Ricard's move last month to acquire a controlling stake in leading player Del Maguey.
Tequila remains heavily reliant on the US and Mexico for sales. The two markets accounted for nearly 83% of category volumes in 2016, and this share is set to hit 84.5% by 2021. The US will largely drive that increase, thanks not only to the ubiquity of the Margarita cocktail on bar and restaurant menus, but also the growing consumer perception of Tequila as a quality sipping spirit on a par with Cognac or single malt Scotch whisky.
The mission of major brands such as Cuervo, Sauza and Patrón is to accomplish a similar transformation in perceptions in Tequila's other export markets, where the spirit is still often associated with low-quality mixto products, consumed as shots.
There are signs of positive change in the UK, as well as some southern European and South American markets, with only Germany expected to decline among Tequila's top 20 markets.
For full details on just-drinks and the IWSR's Global Tequila and Mezcal Insights report, visit the just-drinks market research store.
About the IWSR
The IWSR is the leading source of data and analysis on the beverage alcohol market. The IWSR's database, essential to the industry, quantifies the global market of wine, spirits, beer and mixed drinks by volume and value, and provides insight into short- and long-term trends. Our data is used by all of the largest multinational companies, as well as many more local companies. The IWSR's unique methodology allows us to get closer to what is actually consumed and better understand how markets work. The IWSR conducts face-to- face interviews with over 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. The IWSR Magazine, written by the IWSR's specialist international analysts, features industry news, new products, interviews with key industry players and in-depth market analysis based on unique access to the IWSR's data.
just-drinks.com is the online news, insight and research portal for the global drinks industry. Our editorial team includes contributors from around the world, while our commentators comprise experts in their respective fields of beer, bottled water, soft drinks, spirits (both brown and white) and wine. Under the direction of managing editor Olly Wehring, we offer an impartial voice and are driven by our passion for the drinks industry.
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SOURCE just-drinks and The IWSR