DUBLIN, June 17, 2016 /PRNewswire/ --

Research and Markets has announced the addition of the "Tequila Market in US 2016-2020" report to their offering.

The tequila market in the US to grow at a CAGR of 3.67% by revenue during the period 2016-2020.

Tequila Market in the US 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

A trend that is expected to propel market growth is new product launches. The US tequila market has displayed immense potential for product innovations and new product launches. In 2012-2013, more than 40 new tequila varieties were launched here. Reserva Del Maestro Dobel Diamond from Casa Cuervo is a blend of three tequilas, an 11-plus-month-old reposado, a two-year-old añejo, and a three-year-old extra añejo. Filtration prior to bottling removes all trace of color in this blend. Limited-edition tequilas have also become hugely popular in the US and are often considered a symbol of status and success. Some of the new collections include Arette Unique, Don Celso Plascencia, and El Caudillo.

According to the report, a key growth driver is the growing cocktail culture. Demand for tequila in cocktails is not restricted to bars and restaurants: it has also gained interest in homes. There is also a marked shift, especially in the younger population, from binge drinking to drinking sophisticated cocktails using premium tequila and vodka. As this demographic ages, so will its income and spending power, resulting in a substantial consumer base for white spirits like tequila. Margaritas were the most popular cocktail consumed in the US in 2014.

Further, the report states that one challenge that could restrict market growth is the availability of counterfeit products. There is also a lack of awareness about labeling instructions that help distinguish original tequila from others. Although fake products may not affect the market directly, they may tarnish brand image.

Key vendors

- Beam Suntory

- Brown-Forman

- Diageo

- Tequila Cuervo la Rojeña

- The Patrón Spirits Company

Other prominent vendors

- Arta Tequila

- Cia Tequilera Los Valores

- Hacienda La Capilla

- Juarez Tequila

- Pernod Ricard

- Proximo Spirits

- Borco International

- Tequila Cazadores

- Tequila Quiote

Key Topics Covered:

Part 01: Executive summary

Part 02: Scope of the report

Part 03: Market research methodology

Part 04: Introduction

Part 05: US: Overview

Part 06: Market landscape

Part 07: Market segmentation by product price

Part 08: Market segmentation by distribution channel

Part 09: Market drivers

Part 10: Impact of drivers

Part 11: Market challenges

Part 12: Impact of drivers and challenges

Part 13: Market trends

Part 14: Vendor landscape

Part 15: Appendix

For more information visit http://www.researchandmarkets.com/research/98qtsq/tequila_market_in

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SOURCE Research and Markets