Individuals are set to spend extra money on Tequila and mezcal than they are going to on American whiskey in 2022, in line with new knowledge from the IWSR. The British knowledge and analytics agency estimates $13.3 billion in mixed agave spirit gross sales versus $12.3 billion for whiskey.
Analysts on the IWSR have moreover estimated that the agave class can even supplant vodka, beforehand America’s best-selling spirits class with estimated $12.5 billion for 2022, making it the US’s most-purchased spirit class. Plainly the development for Tequila and mezcal will proceed to see some headroom for a while but, doubtlessly cannibalizing different spirits classes.
“A number of elements are driving progress for agave spirits, however the primary developments impacting the class embrace growing family penetration by means of celebrities, extending consumption events by means of ready-to-drink merchandise, in addition to new and thrilling flavored merchandise coming into the market,” defined IWSR analysis director Adam Rogers.
Tequila consumption grew by greater than 30% between 2015 and 2020, with the class’s premium manufacturers up by over 60%. Whereas bourbon grew by 10% throughout that point, it was merely not sufficient to maintain up with the burgeoning agave sector.
Tequila’s ultra-premium sub-category has the very best charges of forecasted enlargement, with a predicted CAGR in quantity and worth of over 14% from 2019 to 2024.
Regardless of Tequila success, it’s mezcal that’s driving the quickest progress. It noticed 53% progress in worth in 2021 over 2020, practically double that of Tequila, which grew 27%.
A bunch of headline-grabbing superstar launches have solely served to spice up consciousness of Tequila and mezcal additional. Well-known names from actor and ex-wrestler Dwayne ‘The Rock’ Johnson (Teremana Tequila) to actress/social media star Kendall Jenner (818 Tequila) are aiming to emulate the success of Casamigos, the high-end Tequila model co-founded by George Clooney and bought to Diageo for as much as US$1bn in 2017.
