Tariffs would be 'catastrophic' for sales of tequila and mezcal, industry group says
The U.S. spirits industry maintained its market share leadership over beer and wine for a third straight year in 2024, even as revenues slid, according to new data released Tuesday.
The U.S. spirits industry maintained its market share leadership over beer and wine for a third straight year in 2024, even as revenues slid, according to new data released Tuesday.
Spirits supplier sales in the U.S. fell 1.1% last year to a total of $37.2 billion, while volumes rose 1.1%, according to the annual U.S. economic report from the Distilled Spirits Council, a leading trade organization.
That is the first time revenue for the spirits category has fallen in more than two decades. Despite a return to more typical buying patterns after a pandemic boom, spirits revenues have grown an average 5.1% annually since 2019. Between 2003 and 2019, the average annual growth rate was 4.4%.
“While the spirits industry has proven to be resilient during tough times, it is certainly not immune to disruptive economic forces and marketplace challenges, and that was definitely the case in 2024,” said DISCUS President and CEO Chris Swonger.
Tequila and mezcal remained a bright spot for the year as the only spirits category showing sales growth, as revenue climbed 2.9% to $6.7 billion.
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