According to the report titled ‘North America Tequila Market 2021-2028’, available with Market Study Report, North America tequila market is expected to record a CAGR of 4.76% during 2021-2028.
 

Factors like rising popularity of premium tequila, introduction of new flavors, and changing perception of people towards tequila owing to its health benefits are catalyzing the expansion of North America tequila market. Moreover, new entrants in the field, alongside surging popularity of Cristalino tequila are creating lucrative growth opportunities.
 

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However, costly raw materials, high dependency on the U.S. for production, and many anti-alcohols campaigns run by teetotalers are slowing down the progress of the industry.
 

On the basis of product, North America tequila market is bifurcated into value, premium, super-premium, and high-end premium. Moving on to distributor spectrum, the industry sphere is split into supermarket & hypermarkets, online retailing, liquor specialist stores, and others.
 

Moving on to geographical terrain, the market in the U.S is likely to flourish at a considerable rate through 2028, owing to the expansion of well-known tequila brands, and rise in the number of nightclubs which in turn has increased the demand for tequila in the country. Furthermore, the nation witnessed massive sales in 2020 as consumers switched to e-commerce platforms to buy alcohol owing to the frequent lockdowns due to COVID-19 outbreak.
 

Similarly, Canada market registered notable gains in 2020 and is expected to display impressive trends over 2021-2028. The factors propelling this expansion are high demand for spirit distilled from Blue Weber agave plant, coupled with the launch of new tequila favors by leading manufacturers.
 

Prominent companies which are influencing North America tequila market trends are Sazerac Company, Inc., Anheuser-Busch InBev SA/NV, Tequila Sentinel S.A. DE C.V., Bacardi & Co., Ltd., Jose Cuervo, Beam Suntory, Inc., Luxco, Inc., Diageo plc, Pernod Ricard SA, Constellation Brands, Inc., La Martiniquaise-Bardinet Group, E. & J. Gallo Winery, Inc., Asahi Group Holdings, Ltd., and The Brown-Forman Corporation.