The global mezcal market was valued at US$ 727. 11 million in 2019 and is projected to reach US$ 1,136. 55 million by 2027; it is expected to grow at a CAGR of 6. 1% from 2020 to 2027. Mezcal beverage is made from the agave plant (traditionally, it is known as maguey).
New York, Feb. 23, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Mezcal Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Type, Product, and Sales Channel" - https://www.reportlinker.com/p06027551/?utm_source=GNW
The big difference between the Mezcal and Tequila is the way agaves are cooked to extract all the fermentable sugars.
Agaves or magueys are mostly found in many parts of Mexico and south to the Equator, though most mezcal is made in Oaxaca.Mezcal can be prepared from many different varieties of agave.
Agave Espadin is the most popular variety, and it is produced in specific states as well.
Based on product, the mezcal market is segmented into mezcal joven, mezcal reposado, mezcal anejo, and others.The mezcal joven segment led the mezcal market with the largest market share in 2019.
Joven is the more preferred drink, followed by Reposado as it has similar flavor like tequila.Mezcal Joven is cheaper than other types as it can be consumed at the age of less than two months or un-aged.
It is available in different flavors such as citrus, green apple, and white pepper.Mezcal Joven is mostly preferred in cocktails to add the sacred flavor of sweet agave in the drinks.
The heart of Joven is mainly produced at a traditional Palenque in Matatlán, but it is grown and distilled in Oaxaca (region of Mexico). The delicate and sparkling nose of wood smoke and savory herbs introduces citrus, bright, tart fruit, and peppery palate in the drink. Mezcal Joven receives high demand among consumers worldwide due to its more distinct and crisper taste than other mezcal varieties. It is further available in various flavors that further increases its demand rate in the forecast period. This, in turn, is anticipated to drive the growth of the market during the forecast period.
Geographically, the mezcal market is segmented into North America, Europe, Asia Pacific (APAC), South America, and Middle East & Africa (MEA).In 2019, North America held the largest share of the global mezcal market, followed by Europe.
The US is a major market for Mezcal in the North America, followed by Canada and Mexico.Several mezcal breweries have a strong foothold in the North America.
These breweries are constantly working toward innovation and development of different varieties of mezcal with improved tastes along with qualities to attract new consumers and widen the consumer base in the region.The export of mezcal to several countries in North America as well as innovative programs aimed at marketing the product across the region drive the growth of the mezcal market in North America.
The demand for spirits throughout the on-trade sales channels, together with full-service restaurants along with cafes/bars, is also anticipated to rise significantly over the forecast period. High disposable income and changing lifestyles attract consumers to consume luxurious beverages such as mezcal, which is anticipated to expand the mezcal market in North America.
The COVID-19 outbreak was first reported in Wuhan (China) during December 2019.As of January 2021, the US, Brazil, India, Russia, Spain, and the UK are among the worst affected countries in terms of confirmed cases and reported deaths.
The COVID-19 pandemic is adversely affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns.The food and beverage is one of the world’s major industries suffering serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns.
For instance, China is the global manufacturing hub and largest raw material supplier for various industries and it is also one of the worst affected countries.The lockdown of various plants and factories in China is hindering the global supply chains and disrupting the manufacturing activities, delivery schedules, and various materials sales.
Numerous companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition, the global travel bans imposed by countries in Europe, Asia, and North America are hampering the business collaborations and partnerships opportunities. All these factors are anticipated to hinder the food & beverages industry, which would restrain the growth of various markets related to this industry in the coming months.
El Silencio, Mezcal Vago, Pernod Ricard, Ilegal Mezcal, Rey Campero, Mezcal Amores, Craft Distillers, Los Danzantes, Mezcalgulroo, and Wahaka are among the major players operating in the global mezcal market.
The overall global mezcal market size has been derived in accordance with to both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the global mezcal market.
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