The Global Tequila Market size was USD 9.36 Billion in 2020 and is expected to register a CAGR of 5.4% during the forecast period. Steady market revenue growth of tequila can be attributed to surging demand for premium alcoholic beverages. In the U.S., increasing consumer preference for premium alcohol is a major factor driving demand for spirits, such as tequila. Increasing requirement for authentic tequila with diverse flavors, as well as rising inclination for innovative and quality products by millennials is pushing market players to include wide variety of products to meet demand of diverse consumer tastes.