Market Size of Mezcal Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 12.36 % |
| Fastest Growing Market | Europe |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Mezcal Market Analysis
The Mezcal Market size was valued at 960.4 Million USD for the current year and is projected to grow at a CAGR of 12.36% over the next five years to 1,079.1 Million USD.
The demand for mezcal, a tropical agave plant-based liquor, increased significantly over the past few years and is expected to increase further over the forecast period. The increased demand for alcoholic beverages, especially among millennials, as well as the rising global consumer desire for premium/super-premium goods, are the main drivers of the mezcal market. Similarly, its popularity has risen astronomically, partly due to its increased incorporation into cocktails, which is often how American imbibers first encounter the spirit; it's used frequently as a substitute for other spirits in drinks like a smoky margarita or a mezcal mule.
Moreover, consumers worldwide prefer mezcal over other tequila products due to the availability of various flavors. Mezcal is made from 50 different varieties of agave, but only one type of agave plant (blue agave) makes tequila. Mezcal's signature smoky flavor comes from cooking the agave in pits in the ground, bringing a depth and smokiness not found in tequila. These features of mezcal are attracting more alcohol consumers who have sophisticated tastes and the desire to try out innovative flavors.
Moreover, owing to the premiumization trend, consumers have been inclined toward quality over quantity in recent years. As consumers shift toward sophistication, it triggers the demand for premium beverages like mezcal. This has led manufacturers to launch more mezcal products to address the rising demand and thus gain a larger market share. For instance, in November 2021, the United Kingdom's drinks brand Dangerous Don launched its mezcal range, Dangerous Don Espadàn, in 50 M&S stores nationwide. Furthermore, the increase in the working younger population that consumes a variety of flavors has been a major supporting factor behind the growth of the mezcal market.
