United States Tequila Market Insights & Forecast Report 2020: Challenges with Increasing Cannabis Consumption & Decrease in Agave Plantation - Forecast to 2024 - ResearchAndMarkets.com

The "US Tequila Market: Insights & Forecast with Potential Impact of COVID-19 (2020-2024)" report has been added to ResearchAndMarkets.com's offering.

The U.S. tequila market is estimated to reach US$4.74 billion in 2024, growing at a CAGR of 5.06% for the period spanning from 2020 to 2024.

The factors such as improvement in economic condition, the growing Hispanic population, increasing urban population, rising female population are expected to drive the market. However, the growth of the industry will be challenged by increasing cannabis consumption and decrease in agave plantation.

A few notable trends include a rise in premiumisation, the introduction of new tequila products, rise in cocktail culture and increasing demand for handcrafted tequila.

The U.S. tequila market is broadly segmented into four types; into Super Premium, Premium, High-end premium and value segments. Super-premium held the largest share of the U.S. tequila market owing to increasing demand for super-premium and premium tequila is the major factor for the market growth in the U.S. There is a market shift from binge drinking to drinking sophisticated cocktails using premium and super-premium tequilas.

Growing cocktail demand, rising demand for premium brands and rising disposable income in the U.S. were the factors that contributed to the market growth. The rising popularity of the consumption of tequila drinks among consumers, especially millennial will further contribute to the volume growth.

Scope of the report:

• The report provides a comprehensive analysis of the U.S. Tequila market, segmented into Super Premium, Premium, High-end premium and value segments.
• The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.
• The competitive landscape of the market, along with the company profiles of leading players (Suntory Holdings Limited, Brown Forman Corporation, Constellation Brands, Inc., Pernod Ricard, Diageo Plc, Davide Campari Milano NV) are also presented in detail.

Key Topics Covered:

1. Introduction

1.1 Tequila

1.2 History of Tequila

1.3 Tequila Production

1.4 Classification of Tequila

1.5 Categories of Tequila

2. Impact of COVID-19

2.1 Alcohol Volume Growth

2.2 Alcoholic Beverages Online Growth

3. The U.S. Tequila Market

3.1 The U.S. Tequila Market by Value

3.2 The U.S. Tequila Market Forecast by Value

3.3 The U.S. Tequila Market Share by Value

3.4 The U.S. Tequila Market by Volume

3.5 The U.S. Tequila Market Forecast by Volume

3.6 The U.S. Tequila Market Share by Volume

3.7 The U.S. Tequila Market by Price Segment

3.7.1 The U.S. Tequila Market Share by Price Segment

3.7.2 The U.S. Tequila Market Share Forecast by Price Segment

3.7.3 The U.S. Tequila Market by Price Segment

3.7.4 The U.S. Tequila Market Forecast by Price Segment

3.8 The U.S. Tequila Volume by Price Segment

3.8.1 The U.S. Tequila Volume Share by Price Segment

3.8.2 The U.S. Tequila Volume Share Forecast by Price Segment

3.8.3 The U.S. Tequila Volume by Price Segment

3.8.4 The U.S. Tequila Volume Forecast by Price Segment

3.9 The U.S. Tequila Import Share by Value

3.10 The U.S. Tequila Import by Value

3.11 The U.S. Tequila Import Share by Volume

3.12 The U.S. Tequila Import by Volume

3.13 The U.S. Tequila Consumption Share by States

4. Market Dynamics

4.1 Growth Drivers

4.1.1 Improvement in Economic Condition

4.1.2 Growing Hispanic Population

4.1.3 Increasing Urban Population

4.1.4 Rising Female Population

4.2 Key Trends & Developments

4.2.1 Rise in Premiumisation

4.2.2 Introduction of New Tequila Products

4.2.3 Rise in Cocktail Culture

4.2.4 Increasing Demand of Handcrafted Tequila

4.3 Challenges

4.3.1 Increasing Cannabis Consumption

4.3.2 Decrease in Agave Plantation

5. Competitive Landscape

5.1 Global Market

5.1.1 Revenue and Market Cap Comparison

5.2 The U.S. Market

5.2.1 The U.S. Tequila Volume Share by Brand

5.2.2 The U.S. Tequila Value Share by Brand

5.2.3 The U.S. Tequila Volume Comparison by Brand

5.2.4 The U.S. Luxury Tequila Volume Comparison

6. Company Profiles

6.1 Business Overview

6.2 Financial Overview

6.3 Business Strategies

• Brown Forman Corporation
• Constellation Brands, Inc.
• Davide Campari Milano NV
• Diageo Plc
• Pernod Ricard
• Suntory Holdings Limited

For more information about this report visit https://www.researchandmarkets.com/r/r2pker

View source version on businesswire.com: https://www.businesswire.com/news/home/20210920005740/en/