Tue, 11 Feb 2025

Tue, 11 Feb 2025 Tequila, mezcal are the only spirits growing in sales, but tariffs would be 'catastrophic,' industry group says

U.S. spirits sales declined in 2024 despite maintaining its market share ahead of beer and wine. Tequila and Mezcal grew, but tariffs could change that.

* The US spirits industry maintained its market share leadership over beer and wine for a third straight year in 2024.
* Spirits supplier sales in the US fell 1.1% to $37.2 billion, while volumes rose 1.1%.
* This is the first time revenue for the spirits category has fallen in more than two decades.
* Despite the decline, spirits revenues have grown an average of 5.1% annually since 2019.
* Tequila and mezcal remained a bright spot for the year, with sales growth of 2.9% to $6.7 billion.
* The top five spirits categories by revenue in 2024 were: + Premixed ready-to-drink cocktails + Rum + Whiskey + Vodka + Tequila and mezcal
* Mexican spirits, including tequila and mezcal, have grown more popular with consumers over the past two decades.
* The Trump administration's delay of tariffs on imports from Mexico may impact the sales of these products.
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