Mezcal Market Value And Growth Analysis-2023

By Author: bhargav
Total Articles: 47
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Mezcal Market overview:

The Mezcal Market was valued at $0.79 billion in 2023 and is estimated to reach $1.1 billion by 2027.
It is anticipated that the mezcal market will expand reasonably, with a CAGR of 6.1% over the forecasted period (2022 - 2027). There has been a noticeable increase in demand for high quality standards in the global mezcal market. The mezcal market is still increasing, which makes the business more alluring and makes it the main target for expanding investments in the global mezcal market. A cap on wild agave harvesting has been suggested by experts in the mezcal market landscape to ease the burden on natural production. The mezcal market is well-established in the United States, where a very small number of industry participants hold a substantial market share. The market for mezcal in the United States is predicted to grow most rapidly in the ensuing years. With a 50% increase in imports in 2019, the United States surpassed Mexico, whose market share increased to 10%, to become the world's largest mezcal market. The word "mezcal" has traditionally been used in Mexico to refer to ...
... all agave spirits and is still frequently used for many agave spirits, regardless of whether those spirits have been officially recognized as "mezcal" or not. In 2016, the United States and Spain exported more mezcal than the United Kingdom. Agaves, also known as magueys, are unique to Mexico and can be found all over the world. Whether distilled drinks were made in Mexico before the Spanish conquest is unknown. However, the indigenous fermented beverages created from the maguey plant, such as pulque, were known to the Spanish. Mezcal was the outcome.
Mezcal Market Drivers and Restraints:

With intriguing developments, a steady stream of new products, and brand debuts along the way, mezcal producers have responded to the growing interest in this once-overlooked industry. Opportunities exist for ethically exported soft drinks due to rising customer interest in products with ethical sourcing. During the projected period, beverage industry companies are anticipated to seize this opportunity. The top beverage businesses are placing a lot of emphasis on research and development (R&D) initiatives to promote the multifunctional profiles of non-alcoholic beverages that have many positive health effects. More new entrants to the agave industry could be expected if current trends continue. Additionally, different agave varietals have been tested by distillers all throughout the world, and some have even adopted innovative methods. Environmental awareness, however, poses a serious danger to progress. To start with, agave plants take a long time to mature. As a result, agave overuse is a constant danger.
To know more, read:
https://www.marketdataforecast.com/market-reports/mezcal-market
The report is segmented as follows:

The Mezcal Market is segmented by Product Type; the Market is segmented by Distribution Channel:
• By Product Type (Joven, Reposado, Añejo)
• By Distribution Channel (Store-Based, Non-Store-Based)
Geographical Segmentation:
To provide a comprehensive overview of the global industry, the mezcal market has been divided into four regions based on geography: North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. Due to mezcal's rising popularity in the country, the major players in the United States are making investments in the construction of production facilities. Additionally, the United States surpassed Mexico, whose imports rose by 10% in 2019, to become the world's largest mezcal market in 2019. Spain and the United States exported more mezcal than the United Kingdom did in 2016.
Mezcal was noted to be available in numerous London bars in September 2017. The first London Mezcal Festival was held in the same month to honor the spirit. But according to a GQ UK article published in 2019, mezcal availability has significantly increased in the UK in recent years.
Impact of COVID-19 pandemic on the market:
Due to lockdowns, travel restrictions, and business closures, the COVID-19 pandemic is badly affecting economies and businesses in many different countries. One of the largest businesses in the world, the food and beverage sector, is currently experiencing significant disruptions due to issues with the supply chain, postponed technological events, and closed offices.
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Market Data Forecast is a firm working in market research, business intelligence, and consulting. We have rich research and consulting experience for various business domains to cater to individual and corporate clients’ needs.