Mezcal Market: By Type (Agave (100%), Blends) By Product (Joven, Anejo, Reposado Others) By Distribution Channel (HoReCa, Specialty Stores, Super & Hyper Markets, Online Others) and Geography

Mezcal Market size was valued at USD xx million in 2023 and poised to grow at xx% CAGR over the historical years 2024-2030. The Mezcal Market is projected to reach USD xx million by 2030 at a CAGR of xx%. The demand for mezcal, a plant-based liquor made from the tropical agave plant, has grown dramatically in recent years, and is predicted to continue to rise during the forecast period. The primary forces behind the mezcal market are the growing desire among consumers worldwide for premium/super-premium items and the increased demand for alcoholic beverages, particularly among millennials. Like this, its appeal has skyrocketed, in part because of its growing usage in cocktails. It's commonly used in place of other spirits in concoctions like a mezcal mule or a smoky margarita. Consumers are demonstrating a premiumization trend—a preference for quality over quantity. As consumers grow more affluent, premium beverages like mezcal are becoming increasingly popular. As a result, businesses are releasing new mezcal products to fulfil the increasing demand and take market share. Because it comes in a variety of flavours, mezcal is also preferred by customers all over the world above other tequila goods. While 50 distinct types of agaves are used to manufacture mezcal, just one kind of agave plant—the blue agave—is used to make tequila.

Tequila lacks the depth and smokiness that come from cooking agave in ground pits, which gives mezcal its distinctive smoky flavour. Because of these qualities, mezcal is becoming more and more popular among affluent people who want to explore new flavours.Furthermore, in recent years, consumers have tended to favour quality above quantity due to the premiumization tendency. Premium drinks like mezcal become more in demand as customers become more sophisticated. Because of this, producers have had to introduce new mezcal products to meet the growing demand and increase their market share. The younger generation that is employed and enjoys a wide range of flavours has also contributed significantly to the expansion of the mezcal market. The proliferation of online shopping portals and e-commerce platforms provides consumers with a convenient means of researching and purchasing mezcal. Prominent businesses employ e-commerce strategies, providing comprehensive product details and optimising their online presence to connect with a larger clientele.

Mezcal Market Key Developments:

• In January 2022, Diageo PLC made headlines by acquiring Casa UM, the holding company behind Mezcal Unión, a renowned artisanal mezcal brand. This strategic move expanded Diageo's footprint in the mezcal industry, strengthening its lineup of high-quality spirits.
• In March 2022, Lobos 1707, the esteemed tequila and mezcal brand owned by Compañia Tequilera de Arandas S.A. de C.V., marked a significant milestone as it debuted in the Canadian market. The occasion was celebrated with a prestigious launch event held in Toronto, showcasing Lobos 1707's commitment to expanding its global presence.