Over the next five years, sales of Mezcal bottles in the global market will resemble growth identical to their consumption during colonial times where the distilled alcoholic beverage was consumed in great quantities by indigenous people of the Latin American region. Introduced by the Spaniards and made through fermentation of agave juice, Mezcal continues to gain widespread popularity for being a beer-like beverage that tastes like Tequila.
A new market study developed by Future Market Insights anticipates that by the end of 2022, over US$ 840 Mn worth of Mezcal will be consumed across the globe. On account of several factors fuelling the presence of Mezcal in various drinking cultures, the global Mezcal market is poised to expand vigorously at a CAGR of 17.8% during the forecast period, 2017-2022. The report anticipates that increasing demand for beverages that improve digestion and blood sugar regulation, coupled with growing preference towards natural and gluten-free products, will drive the growth in global demand for Mezcal in the immediate future.
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Mezcal has emerged as a spirit of choice among bibulous consumers in several regions of the world. Many consider it as a healthy alternative to hard liquors such as Tequila. The overall positive attitudes of consumers towards Mezcal are effectively boosting their sales in the turbulent and highly-competitive landscapes of alcoholic beverage markets.
Mezcal with 100% Tequila Concentrate will be Predominant
Despite the changing consumer preferences, the demand for Mezcal with 100% Tequila concentrate will gain traction through 2022. Higher concentration of Tequila in production of Mezcal is being preferred for keeping the drink additive-free, and reducing the risks of hangover. Moreover, buying 100% agave Tequila bottle is likely to cost a lot more than a bottle of Mezcal with 100% concentration of Tequila. In 2017, the global Mezcal market is anticipated to attain more than half of its value from sales of Mezcal with 100% Tequila concentrate. Comparatively, Mezcal consisting mix Tequila concentrates will lose traction in terms of demand, and rake approximately US$ 320 Mn revenues by the end of 2022.
Additional insights from the report:
Throughout the forecast period, North America will be observed as the largest market for Mezcal, primarily due to geographical proximity to Mexico and other Latin American countries
Latin America will be the second-largest region for growth of global Mezcal market and will procure over US$ 150 Mn value by 2022-end
Europe’s Mezcal market is also anticipated to reach a similar value by the end of the forecast period
In 2017, more than 80% of revenues procured in the global Mezcal market will be amassed from sales of Mezcal Joven
Through 2022, Mezcal Anejo will be the fastest-selling product in the global market
During the forecast period, specialty stores will record fastest sales growth at 19% CAGR, while hotels, restaurants and cafés (HoReCa) will be collectively viewed as the largest sales channel for Mezcal
Agave, the key ingredient in Mezcal, is prominently cultivated in Latin American countries such as Argentina and Mexico. Manufacturers from this region will continue to remain prominent in the competitive landscape of global Mezcal market through 2022. These include companies, namely Ilegal Mezcal, Destileria Tlacolula, El Tinieblo and El Silencio Holdings. Besides these, the report has also profiled companies – Pernod Ricard (PR), Pierde Almas and William Grant & Sons (WGS) as key players in the global Mezcal market.
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