By 2023, it is anticipated that the global mezcal market would be worth US$ 386.4 million. It will pick up speed at a 14.0% CAGR from 2023 to 2033. Sales of mezcal are probably responsible for a portion of the global food market’s demand. The mezcal market is anticipated to reach a valuation of roughly US$ 1,438.1 million in 2033.
Distillers are experimenting with different agave varietals for mezcal production with a healthy twist to gratify consumers’ growing demands, spurred by consumer interest in craft breweries. The demand for 100% tequila will grow rapidly, according to FMI. Following the craft beer era, there is a discernible trend towards mezcal consumption, particularly in the West, which has been crucial to the increase seen in the 100% tequila market.
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It has been noted trends popularized across social media platforms have a profound influence in determining consumer behavior pattern. While online exposure has increased frequency to bars, pubs, and lounges, focus on health is yet another growth driver. The absence of gluten has been increasing their preference for drinks that include mezcal.
Key Takeaways from the Mezcal Market Study
- Outlook for the mezcal market remains strong for the upcoming decade as it is forecast to rise at nearly 13.5% CAGR between 2021 and 2031
- Backed by the soaring popularity of mezcal, the U.S. is expected to account for over 90% of mezcal sold in North America in 2021
- Mexico will remain a key producer of mezcal, exhibiting over 10% Y-o-Y growth in 2021
- U.K. will remain a bright spot, exhibiting above 14% Y-o-Y growth in 2021
- Outlook for Brazil in Latin America and China in Asia Pacific excluding Japan will remain strong
“Mezcal market is populated by small producers. With competition soaring across most lucrative pockets, players are likely to focus on research and development. For instance, some of them are leveraging high-pressure process (HPP) to extend the shelf life of mezcal,” said a lead analyst at FMI.
Who is winning?
A few of the leading players operating in the Mezcal market are Bacardi Limited., Familia Camarena Tequila, Craft Distiller, Destileria Tlacolula, Diageo Plc., Don Julio, S.A.de., EI Silencio Holdings INC, Fidencio Mezcal, Ilegal Mezcal, Sombra Mezcal, William Grant & Sons Ltd, Sauza Tequila Import Company, Rey Campero., Brown-Forman Corporation (Grupo Industrial Herradura, S.A. de C.V.)., Del Maguey Co., Pensador Mezcal, Pierde Almas.and other players.
Several leading manufacturers of mezcal are focusing on partnering with prominent players in the market to increase its business footprints and to increase their production capacity. Leading players of mezcal are investing in research and development to produce organic, non-GMO ingredients for mezcal.
For instance, Diageo acquired Pierde Almas, which is a premium brand, in 2018 and extended launched a mezcal to extent its Casamigos Tequila line.
Similarly, Campari Group acquired a controlling stake in Montelobos mezcal and Ancho Reyes liqueur for a deal of whopping US$ 35.7 million in 2019.
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Key Segments
Product Type
- Mezcal Joven
- Mezcal Reposado
- Mezcal Anejo
Concentrate
- 100% Tequila
- Mix Tequila
Sales Channel
- HORECA
- Speciality Stores
- Modern Trade
- Online Retailers
- Other Sales Channels
Region
- North America
- Latin America
- Europe
- Japan
- APEJ
- MEA
The report covers an exhaustive analysis on:
- Which is the most lucrative market for mezcal?
- Which is the top-selling type of mezcal?
- Which are some of the leading companies offering mezcal?
- Which sales channel accounts is driving sales of mezcal?
About Future Market Insights (FMI):
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.
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