Mezcal Market Research, Industry Growth, Insights, Top Companies by Report

 


Market Overview

The Mezcal Market was worth around USD 350 Million in 2019 and is expected to have a compound annual growth rate (CAGR) of 11.3% from 2020 to 2027.

Market Dynamics

Mezcal Market Outlook demand has increased significantly over the last couple of years. The growing preference for premium alcoholic beverages has been a major factor in the mezcal market's development. Mezcal is an agave-based distilled alcoholic beverage. It is a popular Mexican alcoholic beverage made from a variety of agave varieties. Mezcal and Tequila are both distilled spirits from Mexico. Mezcal has gained widespread popularity worldwide in the last few years.

Millennial populations are increasingly gravitating toward craft drinks, which is fueling the mezcal market's development. The younger generation worldwide is gravitating toward drinks with authentic flavors. This is propelling the mezcal market forward. While mezcal is a regional beverage, globalization and commercialization have resulted in its globalization and commercialization. Additionally, rising global disposable income combined with robust e-commerce platforms is generating exciting prospects for mezcal producers worldwide. Globally, that disposable income is resulting in a trend toward premium alcohol and craft beverages consumption. The increase is due to a variety of factors, including rising buying power among individuals worldwide, the demand from the millennial generation, and others.

Unlike mezcal, which can be made from a variety of agave plants, tequila can only be made from blue agave. The growing preference of the younger generation for authentic flavors and "small-batch spirits" has contributed significantly to the global demand for mezcal beverages. The large spirit companies' investments in the mezcal category are expected to generate lucrative prospects for the mezcal industry in the near future. As a result of the boom in demand for mezcal drinks, key producers are capitalizing on the opportunity through strategic mergers and acquisitions, alliances, and joint ventures to expand their regional reach.

Regional Analysis

In 2019, North America mezcal market dominated the global market, owing to the US's increasing consumption of agave-based spirits. The United States is a significant market for mezcal in North America and is expected to grow at the fastest rate during the forecast period. According to MRFR research, Mezcal consumption increased by approximately 28% in the United States in 2018. The growing desire of the younger American population for authentic flavors has been a significant factor in the growth of Mezcal consumption in North America.

The European mezcal market is expected to rise at the fastest rate during the forecast period. The growing target population for mezcal is a major factor in the growth of mezcal consumption. Additionally, growing consumer awareness of mezcal beverages through consumer festivals such as London Mezcal Week and Tequila & Mezcal Fest is expected to build lucrative growth opportunities in the coming years.

Asia-Pacific represents a new revenue stream for the mezcal industry. The arrival of a sizable millennial population in China, Japan, and other South-East Asian countries is expected to generate an opportunistic demand for established players.

The rest of the world is comprised of South America, the Middle East, and Africa. The area is home to some of the world's fastest growing economies. Increased disposable income and a growing demand for premium alcohol among expatriates in these regions are expected to drive demand for mezcal.

Segmental Analysis

The Mezcal Market Outlook, by product type, has been segmented into joven, reposado, and anejo. In 2019, joven mezcal dominated the overall mezcal market and is expected to continue will over the forecast period. Joven is less costly than reposado and anejo. Reposado and Anejo are more costly due to their lengthy fermentation cycles.

The market has been segmented by distribution channel into store-based and non-store-based. The store-based segment is expected to rise at a faster pace than the other segments during the forecast period. A robust distribution network spanning supermarkets, hypermarkets, and specialty stores has resulted in the store-based distribution channel's dominance.

Competitive Analysis

The notable players of the market are Davide Campari-Milano S.P.A., Bacardi Ltd., Craft Distillers, Familia, Camarena Tequila, Brown-Forman Corporation, Diageo Plc., Pernod Ricard, William Grant & Sons Ltd, Rey Campero and El Silencio Holdings. The key alcohol manufacturers have witnessed a tremendous spike in mezcal consumption across the globe. This has resulted in a series of strategic partnerships through mergers and acquisitions of these small Mexican mezcal producers to commercialize mezcal beverage across the globe.

Related Reports

Gluten Free Alcoholic Drinks Market Global Research Information by Type (Gluten-Free Beer Gluten-Free Hard Cider, Gluten-Free Wine, Gluten-Free Wine Coolers, Gluten-Free Spirits, Gluten-Free Gin, Gluten-Free Rum, Gluten-Free Sake, Gluten-Free Tequila, Gluten-Free Vodka, Gluten-Free Whiskey, and others), Source (Buckwheat, Sorghum, Rice, Corn, Fruits, Potatoes, Sugar Cane, Agave Cactus and others ) and Region- Forecast to 2027 -

Alcoholic Beverages Market Research Report By Type (Beer, Distilled Spirits, Wine, Others), By Distribution Channel (Store-based, Non-store-based), and By Region (North America, Europe, Asia-Pacific, And Rest Of The World) – Market Forecast Till 2030 -

Dry Ice Market Research Report - Forecast till 2030

 

Contact:

Market Research Future®

99 Hudson Street,5Th Floor

New York, New York 10013

United States of America

Phone:

+1 628 258 0071(US)

+44 2035 002 764(UK)

Email: sales@marketresearchfuture.com

Website: https://www.marketresearchfuture.com

Comments

Post a Comment

Popular posts from this blog

Organic Spices Market Overview, Size, Competitive Landscape, Revenue Analysis 2030

Image
  Market Overview The organic spices market is expected to experience a CAGR of 6.7% during the forecast period (2023-2030), increasing from USD 0.9 billion to USD 1.3 billion. The rise in several health-conscious consumers and the increase in awareness regarding the health benefits associated with the consumption of organic spices are the two main factors driving the global organic food & beverages market. North America and Europe are the dominant regions in consuming different types of organic food products. It is attributable to a rise in per-capita income and continuous product evolution from the manufacturers’ side in these regions. Furthermore, some food manufacturers have focused on availing their food products in organic form due to the rise in preferences for organic products.   They are available in different forms as per consumer preferences, i.e., powder, granular, and liquid, further expected to drive the Organic Spices Market Overview . Some non-p...
Read more

Catalyst Fertilizer Market Size, Product Launch, Major Companies, Revenue Analysis, Till 2030

Image
  Catalysts are vital in industrial production, constituting 60% of consumer and industrial products. They enhance chemical processes, boosting efficiency, output, and cost savings. Catalyst development focuses on improving activity, reducing environmental impact, and increasing longevity. The global catalyst fertilizer market is expected to reach $2.8 billion by 2023, growing at a CAGR of 2.56%. Fertilizer catalysts improve plant performance and efficiency while reducing emissions from production. The demand for fertilizer catalysts is rising due to increased production of ammonium and phosphate fertilizers, and innovation in ammonia production to reduce emissions. Market Dynamics MRFR (Market Research Future) claims that the Catalyst Fertilizer Market Size 2020 can accrue a strong valuation of 2,994.38 MILLION by 2030. MRFR’s extensive study also reveals that the market can expand t to burgeon at a rate of 3.2% from 2022 to 2030 (analysis period). We will provide COVID-19 i...
Read more

Fruit and Vegetable Processing Enzymes Market Size, Revenue, Key Players, Growth, Share and Forecast Till 2030

Image
  Market Analysis The market value of Fruit and Vegetable Processing Enzymes is expected to reach USD 75.69 billion by 2030, with a notable growth rate of 7.65% between 2022 and 2030. The global fruit and vegetable enzymes market is predicted to have an impressive growth over the estimated years (2022-2030). Enzymes are a crucial part of fruit & vegetable processing. It helps to increase yield, intensify juice color, shorten production times, clarify fruit juice and firm up fruit. Besides, it also helps in retaining the nutritional value and good flavor, boost the consistency and color of fruit applications, extend shelf life and reduce the danger of microbial spoilage. The extensive utilization of enzymes that are vegetable and fruit derived, found in the powdered or liquid form are used in diverse industries namely dietary supplements, pharmaceuticals, food and beverages and more. It has gained immense popularity amid manufacturers of diverse processed vegetables and frui...
Read more