Tequila’s growth story enters a new chapter

In a mostly downbeat global spirits market, tequila is providing a much-needed source of growth, with gains outside the US hinting at the category’s gradual evolution to become a genuinely global phenomenon.

According to the latest IWSR data, global tequila volumes rose at a CAGR of +6% between 2019 and 2025, and are expected to expand at a CAGR of +2% to 2030, an uplift on the +2% volume gain recorded last year.

The US: Tequila’s bedrock, but in transition

The US continues to dominate the global tequila market, accounting for over two thirds of volumes, but the rapid gains experienced here have effectively stalled, with volumes flat in 2024-25 and predicted to dip slightly this year.

This stagnation has consequences in a crowded marketplace. “With approximately 2,500 registered tequila trademarks, roughly 900 viable competitors in the US, and only approximately 500 generating more than US$10,000 in large retail, shelf space is highly contested,” explains Adam Rogers, North American Research Director at IWSR.

Beyond the flat headline numbers, however, the full story is more nuanced. Ultra-premium is the only price band growing strongly, albeit at a slower rate than recent years: volumes rose +7% in 2024-25, capping a +31% CAGR gain since 2019. The price tier’s share of US tequila volumes has nearly tripled from 6% in 2019 to 17% last year – and is expected to reach 21% by 2030.

Meanwhile, super-premium tequila is contracting sharply, with volumes down -6% in 2024-25, and a further CAGR decline of -5% forecast to 2030. At the same time, premium is gaining ground – volumes were up +1% in 2025, which may mean that the category sweet spot is shifting towards accessible premium products.

Mexico’s revival

Tequila’s number two market, Mexico has spent the past several years in a period of relative stagnation, but now there are new signs of life: according to IWSR data, volumes declined at a CAGR of -2% between 2019 and 2025, but bounced back with a +3% gain in 2024-25. Growth is expected to continue in the years to come, with a forecast CAGR gain of +3% to 2030.