Emerging Opportunities in Mezcal Market with Current Trends Analysis

Agaves, known for being ecologically- and economically- important wild species in the food & beverage sector, are prominently identified as the key raw material for manufacturing distilled alcoholic beverage called Mezcal. While cultivation of agaves remains concentred in the Latin American region, Mezcal continues to garner impressive uptake from several parts of the world. Moreover, popularity of agave-based alcoholic drinks such as Tequila continues to propel the demand for Mezcal.

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According to Future Market Insights, the global demand for Mezcal will soar vigorously in the next five years. By the end of 2022, over US$ 840 Mn worth of Mezcal is anticipated to be consumed across the globe. The report has analysed an assortment of factors pegged to influence the dynamics of global Mezcal market during the forecast period, 2017-2022.

Surging demand for Mezcal Joven and Mezcal Anejo

Globally, Mezcal is available in the form of three product-types, Joven, Anejo, and Reposado. In 2017, the global market for Mezcal will procure over four-fifth of its value through revenues amassed from sales of Mezcal Joven. Over the forecast period, Mezcal Joven will be observed as the top-selling product in the overall Mezcal market. Meanwhile, Mezcal Anejo is currently anticipated to procure less than 4% share on global market value. But, these two products are anticipated to witness a stellar rise in terms of demand. During the forecast period, Mezcal Joven and Mezcal Anejo are anticipated to showcase close-matched CAGRs in terms of revenues. Mezcal Resposado, on the other hand, will reflect a relatively moderate growth in demand, sales of which are anticipated to net over US$ 100 Mn revenues by the end of 2022.

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Consumer Proclivity towards Mezcal with 100% Tequila Concentrate

In the near future, changing consumer preferences will factor the rise in demand for Mezcal with higher concentration of Tequila. Currently, one out of every two bottles of Mezcal being sold in the global market is anticipated to contain 100% concentration of Tequila. The demand for Mezcal with high Tequila concentration is expected to gain traction throughout the forecast period. Relatively, Mezcal made of mix Tequila concentrates will register a slow uptick in terms of demand. Towards the end of the forecast period, global sales of Mezcal with mix Tequila concentrates is poised to rake a little over US$ 320 Mn in revenues.

Specialty Stores will record rampant growth in sales

Through 2022, Mezcal will be predominantly sold through hotels, restaurants and cafés (HoReCa). Although, revenues accounted by sales of Mezcal through HoReCa channels will incur a relatively low CAGR compared to specialty store sales. In 2017, specialty stores are anticipated to account for more than one-fifth share on global Mezcal revenues. And, towards the end of 2022, the sales of Mezcal registered by speciality stores around the world are forecasted to reflect the fastest CAGR of 19%. Mezcal manufacturers will also observe online retailers as a lucrative sales channel. Modern trade outlets are also anticipated to record steady sales growth, and are likely to create an incremental opportunity of over US$ 40 Mn between 2017 and 2022.

Companies to Watch

Manufacturing processes involved in production of Mezcal continue to remain inefficient and antiquated. Companies will be shifting their focusing towards adoption of new and effective production technologies, which are backed by extensive research to retain the taste, traits and characteristics of traditionally manufactured Mezcal beverages. Manufacturers such as Destileria Tlacolula, Ilegal Mezcal, El Silencio Holdings, and El Tinieblo are based in Latin America, primarily due to high presence of agave cultivation in this region. Other key players in the global Mezcal market, profiled in this report, include Pierde Almas, Pernod Ricard (PR), and William Grant & Sons (WGS).

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This release was published on openPR.