Mezcal Market : Structure and Overview of Key Market Forces Propelling Market

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.

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.

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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.

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.

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%.

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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.