Mezcal Market is Anticipated to Reach US$ 1.45 Billion by 2033

As revealed by Fact.MR in its new study, the global mezcal market has reached a size of US$ 386.5 million in 2023. Worldwide demand for mezcal is expected to rise at a CAGR of 14.1% and reach a market valuation of US$ 1.45 billion by 2033.

Demand for mezcal is projected to increase significantly because of its unique flavors. Players are adopting several strategies to better serve global consumers. They are increasing their manufacturing capacities and are concentrating on producing products that can appeal to a larger consumer base.

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Key Takeaways from Market Study:

• The global mezcal market is valued at US$ 386.50 million in 2023.

• Worldwide demand for mezcal is projected to accelerate at a CAGR of 14.1% through 2033.

• The market is expected to reach a valuation of US$ 1.45 billion by the end of 2033.

• Tequila accounts for 56.1% share of market revenue in 2023.

• The hotels/restaurants/cafes (HoReCa) segment contributes 61.1% share of the market in 2023.

• The United States holds 45.1% share of the North American market in 2023.

"More consumers are now attracted towards quality instead of quantity due to the rising premiumization trend, which is predicted to fuel the demand for premium beverages, including mezcal," says a Fact.MR analyst.

Competitive landscape:

Market players are concentrating on investments in strengthening their systems adopted for supply chain management, maintaining product standards, ensuring quality control, and others.
Prominent companies are concentrating on mergers & acquisitions, new product developments, etc., to expand their portfolio while strengthening their position across regions.

For instance :
• Sydney Block is a trader from Wall Street. In July 2022, Sydney launched Catedral Mezcal Artesanal with her father, Jeff. With a major in environmental economics, Sydney prepares mezcal products with sustainable practices by hand instead of machines.

• Codigo 1530 is a popular independent brand of tequila. In June 2022, the company introduced two mezcal products. It entered into a collaboration with a prominent mezcal master to manufacture mezcal.

Bacardi Limited, Craft Distiller, Familia Camarena Tequila, Destileria Tlacolula, Don Julio, Diageo Plc., S.A.de., Fidencio Mezcal, and EL Silencio Holdings INC. are leading manufacturers of mezcal.

Segmentation of Mezcal Industry Research:

• By Product Type :
o Joven
o Anejo
o Reposado

• By Sales Channel :
o Specialty Stores
o Online Retailers
o Hotels/Restaurants/Cafes (HoReCa)
o Modern Trade

• By Concentrate :
o 100% Tequila
o Mixed Tequila

• By Region :
o North America
o Europe
o Asia Pacific
o Latin America
o Middle East & Africa

Booming Demand for 100% Tequila-based Mezcal Gin with Natural Ingredients:

Demand for 100% tequila-based beverages is estimated to generate a 56.1% revenue share in the industry. Manufacturers are concentrating on using natural ingredients instead of traditional ingredients to support growth. Mezcal is gaining traction among millennials due to the rising demand for different types of premium drinks manufactured with ethical sourcing.
Innovations and technological advancements in mezcal products are leading to potential opportunities for sustainable production. Various businesses are strengthening their supply chains for stable growth.

Decoding the Significance of the United States as a Mezcal Hub in North America:

"Unveiling the Surge of Advanced Manufacturing Facilities by Tequila Producers"
The allure of mezcal, a renowned spirit with deep cultural roots, is captivating the United States with a force that promises transformative growth over the coming decade. What positions the United States as an indispensable market for mezcal in North America? The answer lies in a strategic evolution driven by the establishment of advanced manufacturing facilities by prominent tequila producers.

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Questionnaire answered in the Market outlook Report of Mezcal include:

• What is the key strategy deployed by large players to maximize Mezcal Market growth?

• What are the main challenges faced by players in the Mezcal market Demand?

• With the advent of technological advancement, how will the Mezcal market landscape change over the forecast period?

• What does player bring to the table which is unique as a strategy, and is easy to emulate for new investors in the Mezcal market size?

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This release was published on openPR.