Forecast the tequila category reset: agave prices, celebrity brand exits, Casamigos and Don Julio guidance, and which independents get acquired.
After a five-year run, tequila category growth turned negative in 2025 as agave farmers worked through a record glut and shelf prices fell. Celebrity-backed brands face the squeeze first, followed by mid-tier producers without a clear story or distribution. These markets forecast which names consolidate, exit, or quietly delist from major US chains.