PRN: Global Tequila Sales Hit Record High, says Research From The IWSR/just-drinks
Global Tequila Sales Hit Record High, says Research From The IWSR/just-drinks
BROMSGROVE, England, April 17, 2012 /PRNewswire/ --
Tequila sales hit a record high in 2010, with global shipments rising by 4.8% to 23.87m from 22.77m cases in 2009.
According to the recently published IWSR/just-drinks Global Market Review of Tequila - Forecasts to 2016, Germany was the only one of Tequila's top six markets not to show growth in 2010. Moreover, the Tequila sector has recorded a five-year compound annual growth rate (CAGR) of 3.8%, in spite of the global recession and a downturn in its two major markets - the US and Mexico - in 2009.
"There is undoubtedly momentum in the global Tequila market," the report states. "The industry has made real strides in terms of building value in recent years. The premium-and-above categories have been displaying particularly dynamic growth."
The US remains the largest market, increasing to 11.81m cases in 2010 from 11.23m cases in 2009. Moreover, the report forecasts continuing growth for Tequila's primary market. "Growth prospects in the US remain very strong, due to favourable demographics and the potential for geographic expansion beyond the south-west and major Metropolitan markets." Tequila volumes in the US are forecast to reach 14.71m cases by 2016.
The report also states that, at current growth rates, it is likely that fourth-ranked Russia will surpass Germany in the next two to three years to become Tequila's third-largest market. However, Mexico is "a relatively mature market and future growth may be limited", the report adds.
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