According to a new report, published by KBV research, 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).
Innovations in agave cultivation techniques, such as sustainable farming practices, genetic research, and agrotechnology, aim to improve yield, quality, and resilience to environmental factors. Producers that optimize agave growth and harvesting procedures while reducing environmental effects can guarantee a consistent supply of high-quality agave for mezcal manufacturing.
In addition, as e-commerce continues to evolve and expand, it will play an increasingly integral role in shaping the future of the mezcal market, connecting producers with consumers, and fostering a global community of mezcal lovers united by their passion for this storied and cherished spirit. As per the State Council of China, the country's e-commerce transaction volume totaled 43.83 trillion yuan (about 6.17 trillion U.S. dollars) in 2022, up from 31.63 trillion yuan in 2018. Likewise, as per the data from the International Trade Administration, among Gulf Cooperation Council (GCC) nations, the UAE is the leader in e-commerce, with a record-breaking $3.9 billion in e-commerce sales in 2020, representing 10% of total retail sales and a 53% increase.
The Mezcal Jovan segment is leading the Global Mezcal Market by Age in 2023; thereby, achieving a market value of $1.5 Billion by 2031. Mezcal Joven serves as an entry point for consumers new to mezcal, offering a less intense and more approachable introduction to the spirit's distinctive flavors and aromas. Its unaged nature allows the agave's natural sweetness and vegetal notes to shine, making it more palatable for those accustomed to lighter spirits like vodka or tequila. Thus, these aspects will boost the demand in the segment.
The Off-Premise segment is experiencing a CAGR of 11.5% during (2024 - 2031). Off-premises consumption offers consumers greater convenience and accessibility, allowing them to purchase mezcal from various retail outlets, including liquor stores, online retailers, and delivery services. With the rise of e-commerce platforms and the expansion of delivery options, consumers have greater flexibility in purchasing mezcal products. As per the International Trade Administration, consumer e-commerce now accounts for 36.3% of the total retail sector in the UK (as of Jan 2021), with e-commerce revenue projected to increase to 285.60 billion dollars by 2025. In 2022, UK online sales saw their highest annual growth since 2007, rising 36%. Therefore, the segment will expand rapidly in the upcoming years.
Full Report: https://www.kbvresearch.com/mezcal-market/
The North America region dominated the Global Mezcal Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $793.8 Million by 2031. The Europe region is poised to grow a CAGR of 10.3% during (2024 - 2031). Additionally, The Asia Pacific region would experience a CAGR of 11.2% during (2024 - 2031).
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)
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