Mezcal Market Size to Hit USD 2,065.04 Million by 2030 | Exclusive Report by Fortune Business Insights™
Companies covered in mezcal market are Ilegal Mezcal (U.S.), Mezcal Vago (Mexico), Rey Campero (Mexico), Wahaka Mezcal (Mexico), Casa Cortés (Mexico), Xiaman Spirits GmbH (Austria), Diageo Plc. (U.K.), Pernod Ricard (France), Mezcal Amarás (Mexico), SU Casa Mezcal (U.S.) and more players profiled.
Mezcal Market
Pune, india, Dec. 18, 2023 (GLOBE NEWSWIRE) — The global mezcal market size was valued at USD 922.02 million in 2022 and is expected to be worth USD 1,016.43 million in 2023. The market is projected to reach USD 2,065.04 million by 2030, recording a CAGR of 10.66% during the forecast period.
Mezcal is a traditional Mexican distilled drink made from the fermented juices of cooked agave plants. The spirit is made from many varieties of agave, except blue agave, and is majorly produced in Oaxaca, Mexico. The demand for artisanal and crafted spirits is rising in Japan, the U.S., Canada, and Europe. This global demand is expected to foster market growth.
Fortune Business Insights™ displays this information in a report titled, “Mezcal Market, 2023-2030.”
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Leading Players Featured in the Mezcal Market Research Report:
- Ilegal Mezcal (U.S.)
- Mezcal Vago (Mexico)
- Rey Campero (Mexico)
- Wahaka Mezcal (Mexico)
- Casa Cortés (Mexico)
- Xiaman Spirits GmbH (Austria)
- Diageo Plc. (U.K.)
- Pernod Ricard (France)
- Mezcal Amarás (Mexico)
- SU Casa Mezcal (U.S.)
Report Scope & Segmentation:
| Report Attribute | Details |
| Forecast Period | 2023-2030 |
| Forecast CAGR | 10.66% |
| 2030 Value Projection | USD 2,065.04 Million |
| Mezcal Market Size in 2023 | USD 1,016.43 Million |
| Historical Data | 2017-2021 |
| No. of Pages | 150 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
|
| Regions Covered |
|
| Mezcal Market Drivers | Growing Emphasis on Acquiring Premium Mezcal Producers by Major Players to Propel Industry Growth |
| Rising Interest in Mexican Culture Among Consumers to Fuel Market Expansion |
Browse Detailed Summary of Research Report with TOC:
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Segmentation:
Freshness and Great Taste to Make Mezcal Joven Popular Among Millennials
Based on age, the market is segmented into mezcal joven, mezcal reposado, and mezcal anejo. The mezcal joven segment is expected to capture a major market share as more millennials are consuming this drink to taste the agave, which is still retained in the spirit as it has not been aged. It also has great freshness and taste, which will further boost its popularity among millennials.
Wide Accessibility and Convenience to Boost Customer Footfall at On-Premises Distribution Channels
Based on the distribution channel, the market is classified into on-premises and off-premises. The on-premises segment might hold a significant mezcal market share. On-premises channels, such as bars and restaurants offer great convenience while accessing a wide range of agave-based drinks, which will prompt more customers to try new drinks at these places.
Concerning region, the market covers North America, Europe, Asia Pacific, and the rest of the world.
Report Coverage:
The report offers a qualitative and quantitative analysis of the market and highlights its competitive landscape and latest trends. It also provides an overview of the recent industry developments, the regulatory scenarios in key countries, and insights on the related markets. Apart from these factors, the market report covers many other factors that have contributed to the market’s growth.
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Drivers and Restraints:
Increasing Focus on Acquisition of High-End Manufacturers to Augment Market Growth
The market is witnessing notable growth as more young customers are experimenting with different types of drinks and want to stay open to new drinking experiences. The demand for flavored and exotic agave drinks is also rising, which will help the market grow. Moreover, many key market players are planning to acquire premium or high-end mezcal manufacturers to increase their product range and global reach.
However, loss of genetic diversity and extreme changes in weather conditions can restrict the mezcal market growth.
COVID-19 Impact:
Rise in Product Sales from Off-Premises Stores During Pandemic Accelerated Market Growth
The initial stages of the pandemic caused a major decline in the on-premises sales of mezcals, such as bars and restaurants due to their closure during this period. However, the off-premises channels, such as liquor stores and online platforms witnessed a robust rise in the sales of these beverages. This growth is attributed to the convenience offered while purchasing agave-based spirits.
Regional Insights:
North America to Dominate Market Owing to Rising Popularity of Agave-based Drinks
North America is predicted to dominate the global market as customers across the U.S. are increasing their preference for agave-based drinks. In fact, mezcal has become a staple drink in the U.S. due to its smoky and distinct flavor. Moreover, the rising popularity of cocktails will further drive the regional market growth.
Europe might exhibit a high CAGR during the forecast period as more customers have been showing interest in agave-based drinks in recent years.
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Competitive Landscape:
Key Companies to Enter Partnership Agreements to Boost Market Position
Some of the key market players are increasing their focus on partnerships, mergers, new product launches, and business investments to enter this market and gain a strong competitive edge. This is due to the accumulation of a large customer base by mezcal in various countries. Companies globally are focusing on its popularity by introducing new products.
Detailed Table of Contents:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Trends
- Key Insights
- Market Overview of Related/Parent Market
- Industry SWOT Analysis
- Recent Industry Developments – Policies, Mergers & Acquisitions, and New Product Launches
- Supply Chain/Value Chain Analysis
- Market Analysis and Insights (in Relation with COVID-19)
- Impact of COVID-19 on the Market
- Supply Chain Challenges due to the Pandemic
- Potential Opportunities Due to COVID-19
- Global Mezcal Market Analysis, Insights and Forecast, 2017-2030
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Age (Value)
- Mezcal Joven
- Mezcal Reposado
- Mezcal Anejo
- By Distribution Channel (Value)
- On-premise
- Off-premise
- By Region (Value)
- North America
- Europe
- Asia Pacific
- Rest of World
- By Age (Value)
- North America Mezcal Market Analysis, Insights and Forecast, 2017-2030
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Age (Value)
- Mezcal Joven
- Mezcal Reposado
- Mezcal Anejo
- By Distribution Channel (Value)
- On-premise
- Off-premise
- By Country
- U.S.
- Canada
- Mexico
- By Age (Value)
- Europe Mezcal Market Analysis, Insights and Forecast, 2017-2030
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Age (Value)
- Mezcal Joven
- Mezcal Reposado
- Mezcal Anejo
- By Distribution Channel (Value)
- On-premise
- Off-premise
- By Country
- Germany
- France
- Spain
- Italy
- U.K.
- Rest of Europe
- By Age (Value)
- Asia Pacific Mezcal Market Analysis, Insights and Forecast, 2017-2030
- Key Findings / Summary
- By Age (Value)
- Mezcal Joven
- Mezcal Reposado
- Mezcal Anejo
- By Distribution Channel (Value)
- On-premise
- Off-premise
- By Country
- China
- India
- Japan
- Australia
- Rest of Asia Pacific
- By Age (Value)
- Key Findings / Summary
- Rest of World Mezcal Market Analysis, Insights and Forecast, 2017-2030
-
- 10.1. Key Findings / Summary
- By Age (Value)
- Mezcal Joven
- Mezcal Reposado
- Mezcal Anejo
- By Distribution Channel (Value)
- On-premise
- Off-premise
- By Country
- Colombia
- South Africa
- UAE
- Rest in the World
-
TOC Continued…!
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Notable Industry Development:
- July 2023: Mala Mia, a U.S.-based mezcal manufacturer, entered the spirits market with the introduction of four new mezcal expressions, namely Espadín, Ensamble, Cuishe, and Tepeztate. The new drinks are named after the species of agave that is used to make them.
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