Mexico’s tequila exports hit a record high

Mexican tequila exports – growing over the last decade – reached record-breaking levels in 2022.

Mexican tequila exports are growing at a fast rate, also one of the fastest growing spirits categories

According to the data from the Ministry of Economy and the Agricultural Markets Consulting Group (GCMA), Mexican tequila exports – growing over the last decade – reached record-breaking levels in 2022. Numbers in the US grew from $849 million in 2012 to over $3.6 billion between January and October in 2022, a 34% increase over the same period in 2021.

Beer remains Mexico’s main global export, but tequila exports are growing at a faster rate – 34% vs 9% for beer, year over year.

The top international spirits brand, Diageo, which produces Don Julio, among other top international spirits brands, shared that tequila is one of the fastest growing spirits categories. Alcoholic beverages in general have seen growth over the last decade, due to population growth, greater penetration of spirits and increased demand for premium products.

The spirits industry is expected to continue to grow

In the coming years, the industry is expected to continue to grow with 600 million likely new customers by 2032. Diageo has the largest premium market among international spirits brands, which grew by 31% in the last year alone, and they see much opportunity for further growth.

Despite the growth in sales, the tequila market stays volatile, as agave supply relies on a number of small producers with limited capacity to produce enough raw materials to meet rising demand. Agave plants are grown in Jalisco and parts of four other states and require six or more years of growth in order to be harvested. Even with the potential short-term setbacks due to the global economic downturn, and the challenges in agave supply, Diageo predicts that its premium, and tequila, markets will continue record growth.

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