Breaking news! The tequila exports actually dropped in 2023. That's right. For the first time in 13 years, tequila leaving Mexico went down by 4.2%. Why? Isn't tequila still like a big boom? 2023 is a tricky year because the price of agave was so high. A lot of brands decided to sell through the tequila they'd already exported instead of paying top dollar to make new tequila.
And after three years of insane growth, it makes sense that the tequila boom settle down a little bit. But it also makes sense that there is a finite number of tequila bottles that anybody will buy, especially the more expensive tequilas. Now, the future growth in tequila is going to come from outside the USA and that boom really hasn't happened in earnest yet.
But I think we'll see a small increase in tequila exports in 2024 and another bigger jump in 2025 when the rest of the world discovers just how awesome tequila is. What do you think?
