Mezcal Market

Market Overview:

The global mezcal market size reached US$ 525 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 1,935 Million by 2032, exhibiting a growth rate (CAGR) of 15.1% during 2024-2032. The growing demand for craft spirits that are carefully crafted through professionals, increasing preferences for unique flavors that provide enhanced taste experience, and rising number of clubs, pubs, resorts, bars, hotels, and other food service establishments are some of the major factors propelling the market.

Mezcal is a distilled alcoholic beverage that is manufactured from the agave plant known as agave tequilana Weber variety or maguey plant. It can be produced from a wider range of agave species, imparting a distinct range of flavors and characteristics as compared to tequila, which is made from blue agave. It has smoky, fruity, or herbal flavors that cater to the unique taste preferences of individuals. As it may help stimulate digestion and provide a relaxing effect, the demand for mezcal is increasing across the globe.

At present, the escalating demand for premium alcoholic beverages due to inflating income levels of individuals is impelling the growth of the market. In line with this, the increasing focus on overall health and wellness among the masses is bolstering the market growth. Moreover, the escalating demand for mezcal on account of the rising social media influence among the masses around the world is offering a favorable market outlook. In addition, the increasing adoption of sustainable and organic farming practices to produce alcoholic beverages is propelling the market growth. Besides this, rising preferences for aged alcohol varieties that offer enhanced flavor profiles are contributing to the market growth. Additionally, the wide availability of alcoholic beverages through online and offline distribution channels worldwide is providing lucrative growth opportunities to industry investors. Furthermore, the rising consumption of mezcal due to its antioxidant properties that can help combat oxidative stress in the body is strengthening the market growth.

Mezcal Market Trends/Drivers:

Growing demand for craft spirits

The growing demand for craft spirits among the masses across the globe is offering a positive market outlook. In line with this, consumers are increasingly seeking unique and artisanal alcoholic beverages that assist in enhancing their taste experience. Moreover, the rising consumption of mezcal, as it is carefully made with traditional production methods that offer a unique taste, is propelling the market growth. Besides this, it is usually crafted by skilled artisans and involves the roasting of agave hearts in underground pits, fermentation, and distillation. This hands-on approach imparts distinctive flavor profiles, making it an authentic alcoholic beverage.

Increasing preferences for unique flavors 

The escalating demand for mezcal due to changing consumer tastes and preferences is offering a positive market outlook. Apart from this, bartenders and mixologists are constantly seeking innovative ingredients to create unique drinks. In addition, mezcal has complex flavor profiles, ranging from smoky and earthy to fruity and herbal, which makes it a preferred choice for crafting exceptional cocktails. Moreover, the use of mezcal in cocktails allows bartenders to create signature drinks and attract consumers looking for adventurous flavor experiences, which is contributing to the growth of the market. In line with this, the rising demand for convenient and premium alcoholic beverages among individuals is strengthening the market growth.

Thriving travel and tourism industry

The growing demand for mezcal on account of the thriving travel and tourism industry is offering a positive market outlook. In line with this, the rising number of clubs, pubs, resorts, bars, and hotels around the world is supporting the growth of the market. Additionally, travelers are increasingly looking for immersive and authentic beverage experiences that assist in providing relaxation. Apart from this, people are traveling to mezcal-producing regions that allow them to witness the traditional production process, interact with local communities, and taste mezcal at its source. Furthermore, they share their experiences and recommendations with friends and family that benefit in increasing the sales of the product.

Mezcal Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on product type and distribution channel.

Breakup by Product Type:

• Mezcal Joven
• Mezcal Reposado
• Mezcal Anejo
   

Mezcal reposado accounts for the majority of the market share

The report has provided a detailed breakup and analysis of the market based on the product type. This includes mezcal joven, mezcal reposado, and mezcal anejo. According to the report, mezcal reposado represented the largest segment as it is known for its aging process, which sets it apart from other types of alcoholic beverages. After distillation, it is aged in oak barrels for a period ranging from two months to one year, allowing it to develop a more refined and complex flavor profile. During this aging process, it interacts with the wood, resulting in subtle changes to its taste, aroma, and color. In addition, the aging imparts flavors of vanilla, caramel, and oak to the mezcal, complementing its natural smoky and earthy flavor profile. Apart from this, mezcal reposado appeals to consumers seeking a premium taste profile, which is propelling the market growth.

Breakup by Distribution Channel:

• On-Trade
• Off-Trade
   

On-trade holds the largest market share

A detailed breakup and analysis of the market based on the distribution channel has also been provided in the report. This includes on-trade and off-trade. According to the report, on-trade accounted for the largest market share as it encompasses bars, restaurants, hotels, and other establishments where alcoholic beverages are served directly to consumers. These establishments often curate diverse spirits selections, to cater to evolving preferences of individuals. Apart from this, the rising consumption of mezcal through on-trade channels due to their enhanced convenience and wide availability is contributing to the growth of the market. Furthermore, mixologists and bartenders in on-trade locations play a pivotal role in crafting mezcal-based cocktails, showcasing the versatility of this spirit. This encourages consumers to explore and try different alcoholic beverages, which is bolstering the market growth. 

Breakup by Region:

• North America
  • United States
  • Canada
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Others
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

North America leads the market, accounting for the largest mezcal market share

The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America accounted for the largest market share due to rising preferences for unique alcoholic beverages among people. Additionally, the growing demand for premium and authentic spirits among the masses is offering a positive market outlook in the region. Apart from this, the increasing number of cafes, clubs, pubs, and other food service establishments is contributing to the market growth. In addition, key players are introducing innovative cocktail recipes to attract a larger consumer base in the North American region.

Competitive Landscape:

Key players are offering a wider range of mezcal varieties, such as different agave varietals and aging options, that cater to a broader range of consumer preferences. In line with this, companies are adopting sustainable and eco-friendly production methods to reduce environmental pollution. They prioritize agave cultivation, environmental conservation, and ethical labor practices to meet the demand of eco-conscious consumers. Moreover, manufacturers are focusing on providing enhanced product quality and authenticity. They are also investing in quality control measures, adhering to regulatory standards, and obtaining various certifications to protect the authenticity of their products. Furthermore, innovations in packaging, such as sustainable and artistic bottle designs, assist in enhancing the appeal of the product.

The market research report has provided a comprehensive analysis of the competitive landscape. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

• Bacardi Limited
• Desolas
• Destileria Tlacolula Inc.
• Diageo plc
• Drink Monday
• El Silencio Holdings Inc.
• IZO Spirits
• Lágrimas de Dolores
• Pernod Ricard SA
• Rey Campero
   

(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)

Mezcal Market Report Scope:

Key Questions Answered in This Report:

• How has the global mezcal market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global mezcal market?
• What is the impact of each driver, restraint, and opportunity on the global mezcal market?
• What are the key regional markets?
• Which countries represent the most attractive mezcal market?
• What is the breakup of the market based on the product type?
• Which is the most attractive product type in the mezcal market?
• What is the breakup of the market based on the distribution channel?
• Which is the most attractive distribution channel in the mezcal market?
• What is the competitive structure of the global mezcal market?
• Who are the key players/companies in the global mezcal market?

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the mezcal market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the global mezcal market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the mezcal industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.