Press release
Mezcal Market Size to Hit US$ 1,935 Million by 2032 | Grow CAGR by 15.1%
๐๐ฎ๐ฆ๐ฆ๐๐ซ๐ฒ:โข The global mezcal market size reached US$ 525 Million in 2023.
โข The market is expected to reach US$ 1,935 Million by 2032, exhibiting a growth rate (CAGR) of 15.1% during 2024-2032.
โข North America leads the market, accounting for the largest mezcal market share.
โขMezcal reposado accounts for the majority of the market share in the product type segment as it is known for its aging process, which sets it apart from other types of alcoholic beverages.
โข On-trade holds the largest share in the mezcal industry.
โข The ongoing trend of organic and sustainable farming practices is supporting mezcal's growth, as many brands emphasize their eco-friendly production methods.
โข Tourism in Mexico, especially in regions known for mezcal production, is spreading awareness and boosting the market globally.
๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ ๐๐ซ๐๐ง๐๐ฌ ๐๐ง๐ ๐๐ซ๐ข๐ฏ๐๐ซ๐ฌ:
โข ๐๐จ๐ฉ๐ฎ๐ฅ๐๐ซ๐ข๐ญ๐ฒ ๐จ๐ ๐๐ซ๐๐ฆ๐ข๐ฎ๐ฆ ๐๐ง๐ ๐๐ซ๐๐๐ญ ๐๐๐ฏ๐๐ซ๐๐ ๐๐ฌ
The rise in consumer preference for premium and craft alcoholic beverages is driving the mezcal market's growth. Consumers are increasingly looking for unique, high-quality drinks with distinctive flavors, and mezcal fits this profile perfectly. Its artisanal production process, involving small batches and handcrafted techniques, resonates with the growing demand for craft beverages. Mezcal's reputation as a luxury spirit is further enhanced by its association with high-end restaurants and bars, where it is often featured in signature cocktails. Additionally, consumers are willing to pay a premium for authentic, handcrafted products, which is helping mezcal gain a foothold in the premium spirits market. The diversity of flavors, ranging from smoky to sweet, appeals to a wide audience of spirits enthusiasts, further contributing to its rising popularity. As consumers continue to seek out sophisticated and authentic drinking experiences, mezcal's market is set to expand significantly.
โข ๐๐ง๐ญ๐๐ซ๐๐ฌ๐ญ ๐ข๐ง ๐๐ซ๐๐๐ข๐ญ๐ข๐จ๐ง๐๐ฅ ๐๐ง๐ ๐๐ฎ๐ญ๐ก๐๐ง๐ญ๐ข๐ ๐๐ซ๐จ๐๐ฎ๐๐ญ๐ฌ
Consumer interest in traditional and authentic cultural products is a significant driver of the mezcal market. Rooted deeply in Mexican heritage, mezcal offers an experience beyond just its flavor, connecting drinkers to centuries of history and artisanal craftsmanship. This aspect is particularly appealing to those seeking an authentic cultural experience through their beverage choices. As consumers become more educated about mezcal's rich traditions and unique production process, which differs from tequila, the demand continues to grow. The rise of cultural appreciation for indigenous and regional products has made mezcal a symbol of Mexico's artisanal heritage. This authenticity is highly valued in today's market, where consumers increasingly prioritize experiences and stories behind the products they consume. Mezcal's traditional methods and the fact that it's often made by family-owned distilleries in rural regions only enhance its appeal, driving its global expansion.
โข ๐๐ญ๐ฅ๐๐ฃ๐จ๐๐ค๐ฃ ๐๐ฃ ๐พ๐ค๐๐ ๐ฉ๐๐๐ก ๐พ๐ช๐ก๐ฉ๐ช๐ง๐
The growth of cocktail culture globally is boosting the demand for mezcal as a key ingredient in modern and classic cocktails. Mezcal's distinctive smoky flavor offers mixologists a unique tool to create inventive drinks that stand out on menus. Its versatility allows it to pair well with a variety of ingredients, making it a favorite for those looking to add complexity to their creations. Additionally, cocktail culture's rise in social settings, where presentation and novelty are essential, has pushed mezcal to the forefront of trendy and experimental bars. As mixologists continue to innovate, the demand for high-quality mezcal is expected to rise, particularly as consumers look for new, exciting flavors in their drinks. This growing popularity in the bar scene significantly contributes to mezcal's market growth.
๐ฅ๐ฒ๐พ๐๐ฒ๐๐ ๐ณ๐ผ๐ฟ ๐ฎ ๐๐ฎ๐บ๐ฝ๐น๐ฒ ๐ฐ๐ผ๐ฝ๐ ๐ผ๐ณ ๐๐ต๐ถ๐ ๐ฟ๐ฒ๐ฝ๐ผ๐ฟ๐:
https://www.imarcgroup.com/mezcal-market/requestsample
Mezcal Market Report Segmentation:
๐ฝ๐ง๐๐๐ ๐ช๐ฅ ๐ฝ๐ฎ ๐๐ง๐ค๐๐ช๐๐ฉ ๐๐ฎ๐ฅ๐:
โข Mezcal Joven
โข Mezcal Reposado
โข Mezcal Anejo
Mezcal reposado represented the largest segment due to its growing popularity among consumers seeking aged mezcal varieties with nuanced flavors and smoother profiles.
๐๐ฟ๐ฒ๐ฎ๐ธ๐๐ฝ ๐๐ ๐๐ถ๐๐๐ฟ๐ถ๐ฏ๐๐๐ถ๐ผ๐ป ๐๐ต๐ฎ๐ป๐ป๐ฒ๐น:
โข On-Trade
โข Off-Trade
On-trade represented the largest segment as it encompasses sales through bars, restaurants, and hotels, where mezcal is often prominently featured in craft cocktails and premium beverage menus, driving significant consumption.
๐ฝ๐ง๐๐๐ ๐ช๐ฅ ๐ฝ๐ฎ ๐๐๐๐๐ค๐ฃ:
โข North America (United States, Canada)
โข Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
โข Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
โข Latin America (Brazil, Mexico, Others)
โข Middle East and Africa
North America was the largest market for mezcal due to increasing consumer awareness and appreciation of artisanal spirits, coupled with a growing demand for unique and exotic alcoholic beverages, particularly in the United States and Canada.
๐๐ค๐ฅ ๐๐๐ฏ๐๐๐ก ๐๐๐ง๐ ๐๐ฉ ๐๐๐๐๐๐ง๐จ:
The mezcal market research report outlines a detailed analysis of the competitive landscape, offering in-depth profiles of major companies.
๐ฆ๐ผ๐บ๐ฒ ๐ผ๐ณ ๐๐ต๐ฒ ๐ธ๐ฒ๐ ๐ฝ๐น๐ฎ๐๐ฒ๐ฟ๐ ๐ถ๐ป ๐๐ต๐ฒ ๐บ๐ฎ๐ฟ๐ธ๐ฒ๐ ๐ฎ๐ฟ๐ฒ:
โข Bacardi Limited
โข Desolas
โข Destileria Tlacolula Inc.
โข Diageo plc
โข El Silencio Holdings Inc.
โข IZO Spirits
โข Lรกgrimas de Dolores
โข Pernod Ricard SA
โข Rey Campero
๐๐ฟ๐ผ๐๐๐ฒ ๐ณ๐๐น๐น ๐ฟ๐ฒ๐ฝ๐ผ๐ฟ๐ ๐๐ถ๐๐ต ๐ง๐ข๐ & ๐๐ถ๐๐ ๐ผ๐ณ ๐๐ถ๐ด๐๐ฟ๐ฒ๐
: https://www.imarcgroup.com/request?type=report&id=19186&flag=C
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
๐ผ๐๐ค๐ช๐ฉ ๐๐จ:
IMARC Group is a global management consulting firm that helps the world's most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
๐พ๐ค๐ฃ๐ฉ๐๐๐ฉ ๐ช๐จ:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
๐๐ข๐๐๐ก: sales@imarcgroup.com
๐๐๐ก ๐๐ค:(D) +91 120 433 0800
๐๐ฃ๐๐ฉ๐๐ ๐๐ฉ๐๐ฉ๐๐จ: +1-631-791-1145
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