The global Tequila market reached a record high of 27.6m cases in 2014, according to a new report from The IWSR and just-drinks.

Last year's performance followed strong growth between 2009 and 2013, as detailed in 'Global Tequila insights – market forecasts, product innovation and consumer trends research'. Over the five-year period, Tequila volumes grew by a compound annual growth rate (CAGR) of 4.2% to reach 26.7m cases in 2013.

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The report, published this week, forecasts that the Tequila sector will grow by a CAGR of 2.68% between 2014 and 2019, to reach 31.5m cases.

The US has consolidated its position as Tequila's largest market with around 52% of global sales, according to IWSR data. Sales in the country are expected to have reached 14.6m cases in 2014, the report notes, having achieved a CAGR of 5.56% between 2009 and 2013.

In Mexico, volumes were flat in 2013, at 8.4m cases, continuing a trend seen over the five-year period during which Mexico achieved a CAGR of only 1.25%. "Mexico is a very mature market and lacks the capacity for significant growth," the report states.

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However, as indicated by the quickening rate of growth in 2014, this is certainly not the case with the US, which, according to the report, &quothas greater potential, with consumption stronger in states with a strong Latino presence and potential to push consumption in other regions&quot.

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Sales in Germany, however, have continued to slide. Having seen sales fall heavily in 2013, the report says that sales "almost certainly" continued to decline in 2014. But, a clutch of markets with sales over 200,000 cases – namely Canada, Brazil, the UK and Japan – all turned in single-digit growth in 2014.

Of the several markets with sales between 100,000 and 200,000 cases, only Australia recorded "significant" growth.

The report also reveals evidence of continuing trading-up in the Tequila category. Over the five-year review period, ultra-premium Tequila achieved a CAGR of +9.6%, while super-premium (+5.4% CAGR) and premium (+13.5% CAGR) also outperformed the standard segment which grew at a CAGR of +0.8%.