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Cinco de Mayo festivities may begin tomorrow, but super-premium tequila producers have plenty of reasons to celebrate year-round.
Last year, revenue rose 11 percent for suppliers of the luxury spirit, outpacing the 5-percent growth for the total tequila category, according to the Distilled Spirits Council .
Drawn by the popularity of the margarita and new higher quality tequilas, consumers are flocking in droves to more expensive products. Since 2003, revenue for the super-premium segment has shot up 357 percent while overall tequila sales have jumped 87 percent.
“To some extent, this tracks what’s happening throughout the various categories of distilled spirits,” said Frank Coleman, the council’s senior vice president of public affairs and communications. “There’s been a steady migration by U.S. consumers. Consumers are trading up — they’re drinking better.”
The Council defines super premium as products that are $34 or more per 750 milliliter bottle. Value offerings are $13 and under. In between are high-end premium tequilas and premium ones.
As tequila makers have shifted toward featuring higher-quality tequilas made with pure agave instead of 51-percent agave offerings, there has been a trend among bars and restaurants toward featuring the spirit more not only in margaritas but also in tasting menus, Coleman said.
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