The Latin America, Middle East and Africa Mezcal Market would witness market growth of 12.2% CAGR during the forecast period (2024-2031). In the year 2027, the LAMEA market's volume is expected to surge to 1,775.3 thousand units (Bottle of 750 ml), showcasing a growth of 14.9% (2024-2031).
In the market, the term "on-premises" refers to the consumption of mezcal at establishments where it is served and consumed on-site, such as bars, restaurants, hotels, and lounges. On-premises consumption plays a vital role in introducing mezcal to consumers and creating memorable experiences around the spirit. Bars and restaurants often curate diverse mezcal menus, offering patrons the opportunity to explore different varieties and expressions of the spirit. Therefore, the US market consumed 281.84 thousand units (Bottle of 750 ml) by on-premises in the market in 2023.
The Brazil market dominated the LAMEA Mezcal Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $36.7 Million by 2031. The Argentina market is showcasing a CAGR of 12.7% during (2024 - 2031). Additionally, The UAE market would register a CAGR of 11.8% during (2024 - 2031).
The market is characterized by dynamic trends and evolving consumer preferences, shaped by shifting cultural influences, market dynamics, and technological advancements. While rooted in tradition and heritage, its producers and brands embrace innovation and adaptation to cater to diverse consumer tastes and lifestyle choices. With growing consumer curiosity and appreciation for diverse flavor experiences, its producers are exploring innovative techniques and flavor combinations to diversify their product offerings.
Additionally, sustainability has become a key focus area for the producers in response to increasing environmental awareness and consumer demand for ethical products. In order to lessen their influence on the environment and support their local communities, producers are implementing sustainable techniques. These activities range from agave cultivation and harvesting techniques to trash management and community engagement.
The rising food and beverage sector in South Africa presents a promising opportunity for the expansion of the market, offering a vibrant market landscape and a growing consumer base eager to explore new and exciting culinary experiences. As per the data from the Government of South Africa, measured in real terms (constant 2019 prices), total income generated by the food and beverages industry increased by 14.9% in February 2023 compared with February 2022. Positive annual growth rates were recorded for bar sales (35,5%) and food sales (13,8%). Therefore, the growing food & beverage and food service sectors in LAMEA will help in the growth of the regional market.
Free Valuable Insights: The Worldwide Mezcal Market is Projected to reach USD 2 Billion by 2031, at a CAGR of 10.5%
Based on Age, the market is segmented into Mezcal Jovan, Mezcal Anejo, and Mezcal Reposado. Based on Distribution Channel, the market is segmented into On-Premise, and Off-Premise. Based on countries, the market is segmented into Brazil, Argentina, UAE, Egypt, South Africa, Nigeria, and Rest of LAMEA.
By Age (Volume, Thousand Units (Bottle of 750 ml), USD Billion, 2020-2031)
By Distribution Channel (Volume, Thousand Units (Bottle of 750 ml), USD Billion, 2020-2031)
By Country (Volume, Thousand Units (Bottle of 750 ml), USD Billion, 2020-2031)
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