Mezcal - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Mezcal Market is accounted for $277.09 million in 2019 and is expected to reach $818.59 million by 2027 growing at a CAGR of 14.5% during the forecast period. Increasing demand for luxury and premium beverage are the major factors propelling the market growth. However, factor such as the inefficient disposal of solid and liquid waste generated during mezcal production can cause drinking water contamination and damage to the underwater ecosystem is hampering the market growth.
Mezcal is a distilled alcoholic beverage that contains more than half alcohol, mainly found in Mexico. It is made from the heart of the agave plant, called the pina from which juice is extracted and then converted into mezcal. It takes almost seven and fifteen years for the plant to mature. Mezcal is not mixed with any other liquid such as cocktail, generally drunk straight. It is exported by the two countries the United States and Japan. Furthermore, numerous entrepreneurs of the U.S have teamed up with Mexican producers and sell their products in the country as well as promote its handcrafted quality. It shows oaxacan culture strongly associated with it.
Based on the product type, the mescal joven segment is likely to have a huge demand due to it is cheaper than other types as it comes unaged or aged for less than two months. The product is available in various flavours, including green apple, citrus, and white pepper. Joven is mostly preferred in cocktails to add the sacred flavour of sweet agave in the drinks. The heart of Joven is produced at a traditional Palenque in Matatlán, but it is grown and distilled in the oaxaca region of Mexico.
By geography, North America is estimated to have a lucrative growth due to the increasing popularity of mescal and is investing to open production plants in the region, which is highly popular for the production of mescal. Additionally, the demand for spirits across the on-trade sales channels, together with full-service restaurants and cafés/bars, is expected to rise significantly over the forecast period.
Some of the key players profiled in the Mezcal Market include Bacardi Limited, Brown-Forman Corporation (Grupo Industrial Herradura, S.A. de C.V.), Craft Distillers, Del Maguey Co., Destileria Tlacolula, Diageo Plc., Don Julio, S.A.de, EI Silencio Holdings INC., Familia Camarena Tequila, Fidencio Mezcal, Illegal Mezcal, Pensador Mezcal, Pernod Ricard, Pierde Almas and Sombra Mezcal.
Product Types Covered:
• Mezcal Anejo
• Mezcal Joven
• Mezcal Reposado
Distribution Channels Covered:
• Online Retail Stores
• Offline Retail Stores
• Mix Tequila
• 100% Tequila
Sales Channels Covered:
• Hotel, Restaurant and Cafe (HORECA)
• Specialty Stores
• Modern Trade
• Convenience Stores
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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- Market share assessments for the regional and country-level segments
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