The North America tequila market is forecasted to register a CAGR of 4.37% over the projected years of 2021 to 2028. The market growth of the region is facilitated by key drivers such as increased alcohol consumption due to deregulation and weakened alcohol laws, the growing production of agave, and the surging demand for tequila.

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The North America tequila market growth evaluation entails the assessment of the United States and Canada. The agave-based distilled spirit from Mexico, termed tequila, is one of the most widely consumed alcoholic beverages across the United States. Moreover, leading tequila brands in the country include, Patrón and Don Julio, Jose Cuervo, and Sauza. The bar and nightclub sector in the United States is a highly lucrative division of the country’s notable food and drinks services industry.

On the other hand, the general consumption of alcoholic beverages in the United States has substantially increased over the years. For instance, the nationwide tequila retail sales surpassed $10 billion in 2019, while suppliers as well as wholesalers ranked in nearly $3 billion and $4 billion, respectively. As per industry sources, the sales volume of tequila in the United States equated to approximately 23 million 9-liter cases in 2020. Furthermore, the alcoholic beverage accounted for 7% of Diageo’s global net sales, indicating an increase from 1% five years ago. As a result, these factors are set to influence the North America tequila market growth during the forecasting period.

Brown-Forman Corporation, headquartered in the United States, is among the largest American-owned wine and spirits companies. It markets, exports, imports, and manufactures alcoholic beverages. The product portfolio of the company encompasses whiskey, tequila, champagne, ready-to-drink beverages (RTDs), scotch, bourbon, wine, and liqueur. Brown-Forman Corporation markets its products under numerous brands such as Canadian Mist, Early Times, Collingwood, Woodford Reserve, El Jimador, and others.

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