December 2, 2023

Mezcal Market Forecast: Expanding Horizons in the Beverage Industry 2030

The mezcal industry, an umbrella term encompassing a variety of agave-based liquors, is experiencing an astonishing rise in popularity among a growing number of alcohol consumers worldwide. Unlike conventional spirits, where the focus is on the aging of the beverage, mezcal’s quality is determined by the age of the agave plant, making it a unique and sought-after choice for spirits connoisseurs. The global market for mezcal is thriving, driven by shifting consumer behavior, evolving beverage preferences, and an expanding cocktail culture.

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Mezcal Outpaces Tequila: A Remarkable Growth Story

In 2019, mezcal consumption witnessed a robust 40% increase in the United States alone, surpassing the 9.4% growth rate of tequila, according to The Spirits Business. Even during the challenges of 2020, mezcal production and sales continued to rise, thanks in part to the significant growth of e-commerce retail. Mezcal’s diversity shines through its use of around 30 different agave varieties, with Espadín being the most sought-after, contributing nearly 90% of the market share. Consumers show a strong preference for 100% agave, further driving the mezcal market’s growth.

Luxury Beverages Gain Favor: Mezcal Takes Center Stage

As the trend of premiumization gains momentum, mezcal is positioned as a novel luxury beverage, attracting consumers eager to explore unique and high-quality options beyond traditional spirits. This growing interest in luxury beverages is expected to boost mezcal consumption. The expansion of cocktail culture and the popularity of trends like organic, natural, functional, and on-the-go further contribute to the market’s growth.

Retail Expansion Creates Opportunities

While mezcal has a strong presence in HoReCa (hotel, restaurant, and café) establishments, the retail industry is emerging as a lucrative sales channel. Modern retail formats, including online platforms like Amazon, are creating numerous opportunities for mezcal producers. Progressive urban markets such as New York, Los Angeles, San Francisco, Chicago, and Austin have already embraced mezcal, driven by consumer willingness to explore smaller batches and cocktail options.

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Global Mezcal Markets: From the West to China

The United States leads the world in mezcal consumption, with North America maintaining its dominance in the global market. Mexico, the traditional hub of agave cultivation and mezcal production, secures the second position, benefiting from the growing appetite for mezcal in key consumer nations like the US and the UK. The UK, France, Greece, Australia, China, and Mexico are emerging as important markets for mezcal, with sales surging as it transitions from a niche to a mainstream spirits category.

Challenges and Opportunities in Mezcal Production

While mezcal production is on the rise, the industry lacks a definitive regulatory framework, particularly in Oaxaca, Mexico, and other states. The certification landscape has also evolved, with multiple entities now authorized to certify mezcal products, offering both challenges and opportunities for the market.

Mezcal Market Competition

In a fairly fragmented landscape, the mezcal market represents robust competition compared to mainstream spirits markets. Key players in the global mezcal market include Del Maguey, Ilegal Mezcal, Pernod Ricard, El Silencio Holdings INC., Rey Campero, William Grant & Sons Ltd., Craft Distillers, Mezcal Vago, Mezcal Amores, Wahaka, Los Danzantes, and Mezcalgulroo. Acquisitions and partnerships are common strategies among leading market players, while small-scale manufacturers are entering partnerships to expand their presence.

As mezcal continues to captivate the palates of discerning consumers worldwide, the industry anticipates an exciting future marked by innovation, growth, and exploration into mainstream spirits markets.

Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 – By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

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This press release first seen on Brilad