Global Mezcal Market 2019-2023
Global Mezcal Market: About this market
Mezcal is an agave-based alcoholic beverage that has a strong smoky flavor and can be consumed straight or as a cocktail. Technavio’s mezcal market analysis considers the on-premises and off-premises retail sales of all mezcal products, including mezcal joven, mezcal reposado, and mezcal añejo. Our analysis also considers the sales of mezcal in APAC, Europe, North America, South America, and MEA. In 2018, the mezcal joven segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as the inclusion of mezcal joven in product portfolios of various alcohol-based spirit manufacturers will play a significant role in the mezcal joven segment to maintain its market position. , our global mezcal market report looks at factors such as an increase in mezcal exports, rising demand for premium spirit products, and increasing investment by international players. However, the growing production and supply constraints, competition from substitutes, and the negative impact of NOM regulations in Mexico may hamper the growth of the mezcal industry over the forecast period.
Global Mezcal Market: Overview
Rising demand for premium spirit products
There is an increase in the demand for premium mezcal products among millennial consumers. This is due to the rising disposable income in developed economies such as North America and Western Europe. This increase in demand will lead to the expansion of the global mezcal market at a CAGR of over 22% during the forecast period.
Adoption of sustainable production practices
Owing to the growing consumer awareness of industrial waste disposal and the impact of pollution on the ecosystem, vendors are undertaking sustainable production and waste management initiatives to minimize their industrial carbon footprint. For instance, in April 2018, Sombra Mezcal (Davos Brands) opened a sustainable distillery in Oaxaca, Mexico. Such practices are expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global mezcal market during the forecast period 2019-2023, click here.
With the presence of several major players, the global mezcal market is fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading mezcal manufacturers, that include Diageo Plc, Ilegal Mezcal, Pernod Ricard, Tequila Cuervo La Rojeña SA de CV, and William Grant & Sons Ltd.
Also, the mezcal market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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