Europe Tequila Market 2021-2028

This report anticipates that the European tequila market would witness growth at a compound annual growth rate of 4.43% during 2021-2028. Spain, the United Kingdom, Russia, France, Germany, Italy, and Rest of Europe shape the market in this region.

In Germany, the per capita consumption of alcoholic beverages has observed significant growth in recent years. Furthermore, over the years, there has been a steady growth in the number of nightclubs and bars, which has increased the alcohol consumption rate across the nation. As per estimates, Germany was the second-largest importer of Mexico’s tequila in 2020. All these factors indicate that the surge in alcohol consumption and the growing number of bars have enhanced the demand for spirits like tequila across the nation. Hence, the market for tequila is anticipated to witness growth in Germany over the upcoming years.

On the other hand, France is home to leading tequila-producing brands, such as Pernod Ricard SA that offers a wide range of spirits. Such companies are expanding their tequila range across the countries as well as other regions through acquisitions. Moreover, similar to Germany, there is a rapid growth in the number of bars and nightclubs in the country, influencing the demand for various liquors like tequila. Thus, these developments are likely to fuel the growth of the tequila market over the forecast period across France.

COMPETITIVE OUTLOOK

Some of the major companies in the tequila market are Tequila Centinela, Sazerac Company Inc, Pernod Ricard SA, La Martiniquaise, Jose Cuervo, Brown Forman Corporation, and Constellation Brands.