The global spirits market was worth $216 billion in 2007 and grew 2.4% that year. It is projected to reach $245 billion by 2012, increasing at a CAGR of 2.6% through that period. Whisky contributes over 23% of industry revenue and is the largest category, though tequila is the fastest growing. Emerging markets like BRIC nations, Central/Eastern Europe, Latin America and the Middle East have become high growth areas for spirits due to large populations and increasing incomes.