Press release
Global Mezcal Market To Be Driven By Increasing Consumer Spending In Regions Like North America And Europe In The Forecast Period Of 2021-2026
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The key highlights of the report include:
Market Overview (2016-2026)
• Forecast CAGR (2021-2026): 21%
The global mezcal market is likely to be driven by increasing innovations in mezcal goods in order to leverage opportunities created by high demand for premium and super-premium drinks. Also, rising consumer spending in developed regions like North America and Europe is likely to upthrust the market in the coming years. The demand for premium spirit goods is on rise which is also expected to aid the market growth. Further, the increasing awareness created by events such as London Mezcal Week and Tequila Mezcal Week is likely to provide growth opportunities to mezcal manufacturers. However, the pandemic severely impacted the market in 2020 as the on-premise market (bars/restaurants) were completely shut down.
Industry Definition and Major Segments
The word "mezcal" refers to "roasted agave". Mezcal is a distilled spirit which is made from the agave plant. There are more than 200 types of agave plants and out of this, 40-50 are used to produce mezcal. From start to finish, production of mezcal is a highly labor-intensive process.
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Based on the type, the market has been segmented into following categories:
• Mezcal Joven
• Mezcal Reposado
• Mezcal Anejo
• Others
Based on the mode of distribution, the global mezcal market has also been segmented into:
• Offline stores
• Online stores
The EMR reports also provides an in-depth market analysis by dividing the market into five regions namely North America, Latin America, the Asia Pacific, Europe, and the Middle East and Africa.
Market Trends
The increasing demand for mezcal has propelled market players to involve in innovation activities. Madre Mezcal has raised USD 3 million to launch new products and expand its geographical reach across the world. Collective Spirits of UK has partnered with Terranova Spirits and Enmezcalaerte & Fools Gold in order to market their unique and sustainably produced products like tequilas, mezcals, and rums among others in UK and meet the rising demand for high-quality brands in the country.
Key Market Players
The major players in the market are Pernod Ricard SA, Ilegal Mezcal, William Grant & Sons Ltd, Rey Campero, Mezcal Vago, and El Silencio Holdings Inc. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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