By 2023, it is anticipated that the global mezcal market would be worth US$ 557 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$ 1,347.9 Million in 2033.
Driven by consumer interest in craft beers, distillers are experimenting with various agave varieties for mezcal production with a healthy twist to satiate their evolving preference. According to FMI, the demand in 100% tequila category will rise exponentially. Following the age of craft beer, there is visible shift towards trying mezcal, especially in the West, which has been key to growth registered in the 100% tequila segment.
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It has been noted trend 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 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 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.
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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.
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
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The report covers 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?
Author
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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