“Global Mezcal Market to reach a market value of USD 2 Billion by 2031 growing at a CAGR of 10.5%”
The Global Mezcal Market size is expected to reach $2.0 billion by 2031, rising at a market growth of 10.5% CAGR during the forecast period. In the year 2023, the market attained a volume of 20,272.0 thousand units (Bottle of 750 ml), experiencing a growth of 19.5% (2020-2023).
As cocktail culture thrives in North America, mezcal's smoky, earthy, and fruity notes add depth and character to a wide range of cocktails, from classic recipes to creative concoctions. Therefore, the North America region captured $375.3 million revenue in the market in 2023. Also, the Canada market utilized 1,016.2 thousand units (Bottle of 750 ml) in the market in 2023. The growing popularity of mezcal-based cocktails in bars and restaurants has increased visibility and demand among consumers.
The cultural significance of mezcal serves as a driving force behind its market growth, captivating consumers around the world with its authenticity and history. The allure of mezcal lies in its distinct flavor profile and the story behind each bottle—a story of generational knowledge, sustainable farming practices, and community collaboration. Consumers seek artisanal brands that uphold these traditions, honoring the legacy of mezcal and preserving the cultural heritage of Mexico. Thus, these factors will boost the demand in the market.
Additionally, the market has been significantly influenced by a growing consumer awareness of sustainability and ethical production practices in recent years. As awareness of these environmental issues grows, consumers increasingly demand transparency and accountability from mezcal producers, prompting brands to adopt more sustainable practices throughout the production chain. Thus, owing to these factors, there will be enhanced demand in the market.
However, Agave plants, the primary ingredient in its production, typically take several years to mature before they can be harvested. Fluctuations in agave supply due to factors like climate change, disease outbreaks (such as agave diseases like agave snout weevil), or over-harvesting can lead to shortages in raw materials. This scarcity can increase production costs, reduce production volumes, or even cause product shortages. Hence, these aspects can assist in the expansion of the market.
On the basis of distribution channel, the market is divided into on-premise and off-premise. In 2023, the off-premise segment witnessed a 24.50% revenue share in the market. In terms of volume, off-premise segment consumed 4,762.3 thousand units (Bottle of 750 ml) in 2023. Off-premises consumption offers consumers greater convenience and accessibility, allowing them to purchase the product from various retail outlets, including liquor stores, online retailers, and delivery services.
Based on age, the market is segmented into mezcal Joven, mezcal Reposado, and mezcal Anejo. In 2023, the mezcal Anejo segment garnered a 14.98% revenue share in the market. In terms of volume, mezcal Anejo segment make use of 2,879.6 thousand units (Bottle of 750 ml) in 2023. As consumers gravitate towards premium and artisanal spirits, there is a heightened demand for aged mezcal varieties that offer complexity and refinement.
Free Valuable Insights: Global Mezcal Market size to reach USD 2 Billion by 2031
By region, the market is segmented into North America, Europe, Asia Pacific, and LAMEA. In 2023, the Europe segment acquired a 31.87% revenue share in the market. In terms of volume, Europe segment registered 7,545.1 thousand units (Bottle of 750 ml) in 2023. The craft spirits movement has gained momentum in Europe, with consumers gravitating towards small-batch, artisanal products that offer quality, authenticity, and a sense of craftsmanship.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 923.8 Million |
| Market size forecast in 2031 | USD 2 Billion |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 10.5% from 2024 to 2031 |
| Quantitative Data | Volume in Thousand Units (Bottle of 750 ml), Revenue in USD Billion, and CAGR from 2020 to 2031 |
| Number of Pages | 230 |
| Number of Tables | 490 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Age, Distribution Channel, Region |
| Country scope |
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| Companies Included | Diageo plc, SU CASA MEZCAL, Mezcal Amaras, Pernod Ricard S.A., Xiaman Spirits GmbH,Casa Cortes, Wahaka Mezcal, Rey Campero, Bacardi Limited (Ilegal Mezcal), Mezcal Vago (Heaven Hill Sales Co.) |
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 Geography (Volume, Thousand Units (Bottle of 750 ml), USD Billion, 2020-2031)
This Market size is expected to reach $2.0 billion by 2031.
Growing importance of cultural heritage and tradition are driving the Market in coming years, however, Supply chain limitations and sustainability concerns restrictions issues restraints the growth of the Market.
Diageo plc, SU CASA MEZCAL, Mezcal Amaras, Pernod Ricard S.A., Xiaman Spirits GmbH,Casa Cortes, Wahaka Mezcal, Rey Campero, Bacardi Limited (Ilegal Mezcal), Mezcal Vago (Heaven Hill Sales Co.)
In the year 2023, the market attained a volume of 20,272.0 thousand units (Bottle of 750 ml), experiencing a growth of 19.5% (2020-2023).
The Mezcal Jovan segment is leading the Market by Age in 2023; there by, achieving a market value of $1.5 Billion by 2031.
The North America region dominated the Market by Region in 2023, and would continue to be a dominant market till 2031; there by, achieving a market value of $793.8 Million by 2031.
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