Mezcal Market to grow by USD 428.18 million from 2022 to 2027|Rising demand for premium spirit products is one of the market drivers- Technavio

NEW YORK, July 10, 2023 /PRNewswire/ -- The mezcal market size is set to grow by USD 428.18 million from 2022 to 2027 and register a CAGR of 13.18%, according to Technavio's latest market research report estimates. With a focus on identifying dominant industry influencers, Technavio's reports present a detailed study by the way of synthesis, and summation of data from multiple sources. This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. Read our Sample Report

The report also covers the following areas:

• Mezcal Market size
• Mezcal Market trends
• Mezcal Market industry analysis

Mezcal Market 2023-2027: Segmentation

• Product 
• Mezcal Joven
• Mezcal Reposado
• Mezcal Anejo
• Distribution Channel 
• Offline Stores
• Online Stores
• Geography 
• North America
• Europe
• APAC
• South America
• Middle East And Africa

The market share growth by the mezcal joven segment will be significant during the forecast period. It refers to mezcal spirits that are fresh, clear, and typically aged for less than two months. It is either sold in its original form or as a joven Abocado (flavored or infused), which comprises the addition of ingredients such as lavender, agave worm, and natural coloring and flavouring agents. Globally, mezcal Joven products find high demand among consumers due to their distinct, brighter, and crisper taste when compared with other aged mezcal varieties. Unlike other alcoholic beverages, such as whiskey, mezcal is perceived to taste best when it is not aged. Subsequently, the segment enjoys a dominant market share when compared with other mezcal products. The growth of this segment is primarily attributed to the growing adoption of Mezcal by residential consumers, which is driven by an increase in the global demand for mezcal. 

Mezcal Market 2023-2027: Vendor Analysis and Scope

Some of the major vendors of the mezcal market include BACK BAR PROJECT, BANHEZ SPIRITS COMPANY LLC, Becle SAB de CV, Craft Distillers, Davide Campari Milano NV, Destileria Tlacolula, Diageo Plc, DONA VEGA LLC, Dos Hombres Inc., El Silencio Holdings LLC, Ilegal Mezcal, Kimo Sabe Mezcal, Lagrimas de Dolores SPR de RL, Las Joyas del Agave SA de CV, Mezcal de Amor SAPI de CV, Mezcal Vago, Pernod Ricard SA, Rey Campero, and Scorpion Mezcal. To help businesses improve their market position, Technavio's report provides a detailed analysis of around 15+ vendors operating in the market. To leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments, while maintaining their positions in the slow-growing segments. Backed with competitive intelligence and benchmarking, our research reports on the mezcal market are designed to provide entry support, customer profile & M&As as well as go-to-market strategy support.

Vendor offerings

• BACK BAR PROJECT - The company offers mezcal which is distilled from the agave plant and has been made in Oaxaca for centuries where from harvest through distillation, each step is guided by hand, and the ensuing spirit celebrates the distinctive flavor of agave
• BANHEZ SPIRITS COMPANY LLC - The company offers mezcal which delivers a soft note of aftertaste and a smoky flavor when consumed.
• Becle SAB de CV - The company offers mezcal that delivers a soft herbal taste with a smoky flavor.

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• Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession 
• Global competitiveness and key competitor positions 
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Mezcal Market – Market Dynamics
Key factor driving market growth

The rising demand for premium spirit products is the major factor driving the mezcal market growth. Another factor driving the market growth is the rising demand for premium alcoholic beverage products. There has been an increase in the demand for premium and super-premium alcoholic beverages in countries such as the US and the UK, especially among Millennial consumers in the past few years. Developed economies such as North America and Western Europe and the rising emphasis by vendors on the launch of highly differentiated premium mezcal products are increasing the popularity and premiumization of mezcal spirits due to the presence of the high-paying capacity of consumers. Different related festivals, such as the London Mezcal Week (UK) and Tequila Mezcal Week (US), emphasise educating consumers on Mexican art, music, culture, and tradition as well as different Mexican agave spirits, such as mezcal, tequila, and raicilla. Increasing consumer awareness about mezcal production and its differences from other premium alcoholic beverages, such as tequila, is anticipated to drive the demand for mezcal during the forecast period.

Major Trend 

The popularity of handcrafted, artisanal Mezcal is an emerging trend shaping market growth. Though the market entry of established distillers such as Diageo and Tequila Cuervo La Rojena SA de CV (Tequila Cuervo) is developing the production process of mezcal spirits on a commercial scale, the demand for handcrafted, artisanal mezcal spirits is high, particularly in North America. Consumers are willing to pay a premium for traditionally crafted mezcal spirits. In Mexico, such varieties of mezcal are generally produced by small-scale family distilleries. Moreover, vendors such as Pernod Ricard SA, Kimo Sabe, and Fidencio Mezcal (Fidencio) deliver premium and ultra-premium handcrafted, artisanal mezcal.  In Mexico, the popularity of artisanal mezcal has accounted for an increase in the number of mezcal tours, where interested tourists can visit and learn about handcrafted mezcal production in villages such as Oaxaca, Durango, Zacatecas, and Guerrero. Therefore, the growing demand for handcrafted artisanal mezcal is anticipated to drive the growth of the mezcal market during the forecast period.

Significant Challenge

Increasing production and supply constraints are major challenges impeding mezcal market growth. The market is facing significant challenges related to the production and supply of mezcal products. Unlike tequila, which is also produced from agave plants, mezcal is tough to produce commercially because of the long maturing period of the agave plant species used for production. In addition, around 30 species of agave plants are used to produce mezcal, with each of them offering a different taste and having distinct growth cycles. The improved production by distillers in Mexico to cater to the increasing demand for mezcal spirits is anticipated to lead to augmented deforestation and emphasize the difficulties related to wood procurement in Mexico. The adoption of strict certification procedures for export-quality Mezcal in Mexico has also extensively expanded the compliance costs for Mezcal vendors in the country. Therefore, the challenges related to the production and supply of mezcal spirits are anticipated to hinder the growth of the market during the forecast period.

Mezcal Market 2023-2027: Key Highlights

• CAGR of the market during the forecast period 2023-2027
• Detailed information on factors that will assist mezcal market growth during the next five years
• Estimation of the mezcal market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behaviour
• The growth of the mezcal market
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of mezcal market vendors

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Table of contents

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Distribution Channel
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022 

• 3.4 Market outlook: Forecast for 2022-2027
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Five Forces Analysis

• 4.1 Five forces summary 
• Exhibit 18: Five forces analysis - Comparison between 2022 and 2027

• 4.2 Bargaining power of buyers 
• Exhibit 19: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 4.3 Bargaining power of suppliers 
• Exhibit 20: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 4.4 Threat of new entrants 
• Exhibit 21: Threat of new entrants – Impact of key factors in 2022 and 2027

• 4.5 Threat of substitutes 
• Exhibit 22: Threat of substitutes – Impact of key factors in 2022 and 2027

• 4.6 Threat of rivalry 
• Exhibit 23: Threat of rivalry – Impact of key factors in 2022 and 2027

• 4.7 Market condition 
• Exhibit 24: Chart on Market condition - Five forces 2022 and 2027

5 Market Segmentation by Product

• 5.1 Market segments 
• Exhibit 25: Chart on Product - Market share 2022-2027 (%)
• Exhibit 26: Data Table on Product - Market share 2022-2027 (%)

• 5.2 Comparison by Product 
• Exhibit 27: Chart on Comparison by Product
• Exhibit 28: Data Table on Comparison by Product

• 5.3 Mezcal joven - Market size and forecast 2022-2027
• Exhibit 29: Chart on Mezcal joven - Market size and forecast 2022-2027 ($ million)
• Exhibit 30: Data Table on Mezcal joven - Market size and forecast 2022-2027 ($ million)
• Exhibit 31: Chart on Mezcal joven - Year-over-year growth 2022-2027 (%)
• Exhibit 32: Data Table on Mezcal joven - Year-over-year growth 2022-2027 (%)

• 5.4 Mezcal reposado - Market size and forecast 2022-2027
• Exhibit 33: Chart on Mezcal reposado - Market size and forecast 2022-2027 ($ million)
• Exhibit 34: Data Table on Mezcal reposado - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Chart on Mezcal reposado - Year-over-year growth 2022-2027 (%)
• Exhibit 36: Data Table on Mezcal reposado - Year-over-year growth 2022-2027 (%)

• 5.5 Mezcal anejo - Market size and forecast 2022-2027
• Exhibit 37: Chart on Mezcal anejo - Market size and forecast 2022-2027 ($ million)
• Exhibit 38: Data Table on Mezcal anejo - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Chart on Mezcal anejo - Year-over-year growth 2022-2027 (%)
• Exhibit 40: Data Table on Mezcal anejo - Year-over-year growth 2022-2027 (%)

• 5.6 Market opportunity by Product 
• Exhibit 41: Market opportunity by Product ($ million)

6 Market Segmentation by Distribution Channel

• 6.1 Market segments 
• Exhibit 42: Chart on Distribution Channel - Market share 2022-2027 (%)
• Exhibit 43: Data Table on Distribution Channel - Market share 2022-2027 (%)

• 6.2 Comparison by Distribution Channel 
• Exhibit 44: Chart on Comparison by Distribution Channel
• Exhibit 45: Data Table on Comparison by Distribution Channel

• 6.3 Offline stores - Market size and forecast 2022-2027
• Exhibit 46: Chart on Offline stores - Market size and forecast 2022-2027 ($ million)
• Exhibit 47: Data Table on Offline stores - Market size and forecast 2022-2027 ($ million)
• Exhibit 48: Chart on Offline stores - Year-over-year growth 2022-2027 (%)
• Exhibit 49: Data Table on Offline stores - Year-over-year growth 2022-2027 (%)

• 6.4 Online stores - Market size and forecast 2022-2027
• Exhibit 50: Chart on Online stores - Market size and forecast 2022-2027 ($ million)
• Exhibit 51: Data Table on Online stores - Market size and forecast 2022-2027 ($ million)
• Exhibit 52: Chart on Online stores - Year-over-year growth 2022-2027 (%)
• Exhibit 53: Data Table on Online stores - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Distribution Channel
• Exhibit 54: Market opportunity by Distribution Channel ($ million)

7 Customer Landscape

• 7.1 Customer landscape overview 
• Exhibit 55: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

8 Geographic Landscape

• 8.1 Geographic segmentation 
• Exhibit 56: Chart on Market share by geography 2022-2027 (%)
• Exhibit 57: Data Table on Market share by geography 2022-2027 (%)

• 8.2 Geographic comparison 
• Exhibit 58: Chart on Geographic comparison
• Exhibit 59: Data Table on Geographic comparison

• 8.3 North America - Market size and forecast 2022-2027
• Exhibit 60: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 61: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 62: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 63: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 8.4 Europe - Market size and forecast 2022-2027
• Exhibit 64: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 65: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 66: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 67: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 8.5 APAC - Market size and forecast 2022-2027
• Exhibit 68: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 69: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 70: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 71: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 8.6 South America - Market size and forecast 2022-2027
• Exhibit 72: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 73: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 74: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 75: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 8.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 76: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 77: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 78: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 79: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 8.8 Mexico - Market size and forecast 2022-2027
• Exhibit 80: Chart on Mexico - Market size and forecast 2022-2027 ($ million)
• Exhibit 81: Data Table on Mexico - Market size and forecast 2022-2027 ($ million)
• Exhibit 82: Chart on Mexico - Year-over-year growth 2022-2027 (%)
• Exhibit 83: Data Table on Mexico - Year-over-year growth 2022-2027 (%)

• 8.9 US - Market size and forecast 2022-2027 
• Exhibit 84: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 85: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 86: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 87: Data Table on US - Year-over-year growth 2022-2027 (%)

• 8.10 Germany - Market size and forecast 2022-2027
• Exhibit 88: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 89: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 90: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 91: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 8.11 UK - Market size and forecast 2022-2027
• Exhibit 92: Chart on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 93: Data Table on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 94: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 95: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 8.12 China - Market size and forecast 2022-2027
• Exhibit 96: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 97: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 98: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 99: Data Table on China - Year-over-year growth 2022-2027 (%)

• 8.13 Market opportunity by geography 
• Exhibit 100: Market opportunity by geography ($ million)

9 Drivers, Challenges, and Trends

• 9.1 Market drivers 

• 9.2 Market challenges 

• 9.3 Impact of drivers and challenges 
• Exhibit 101: Impact of drivers and challenges in 2022 and 2027

• 9.4 Market trends 

10 Vendor Landscape

• 10.1 Overview 

• 10.2 Vendor landscape 
• Exhibit 102: Overview on Criticality of inputs and Factors of differentiation

• 10.3 Landscape disruption 
• Exhibit 103: Overview on factors of disruption

• 10.4 Industry risks 
• Exhibit 104: Impact of key risks on business

11 Vendor Analysis

• 11.1 Vendors covered 
• Exhibit 105: Vendors covered

• 11.2 Market positioning of vendors 
• Exhibit 106: Matrix on vendor position and classification

• 11.3 BACK BAR PROJECT 
• Exhibit 107: BACK BAR PROJECT - Overview
• Exhibit 108: BACK BAR PROJECT - Product / Service
• Exhibit 109: BACK BAR PROJECT - Key offerings

• 11.4 BANHEZ SPIRITS COMPANY LLC 
• Exhibit 110: BANHEZ SPIRITS COMPANY LLC - Overview
• Exhibit 111: BANHEZ SPIRITS COMPANY LLC - Product / Service
• Exhibit 112: BANHEZ SPIRITS COMPANY LLC - Key offerings

• 11.5 Becle SAB de CV 
• Exhibit 113: Becle SAB de CV - Overview
• Exhibit 114: Becle SAB de CV - Business segments
• Exhibit 115: Becle SAB de CV - Key offerings
• Exhibit 116: Becle SAB de CV - Segment focus

• 11.6 Craft Distillers 
• Exhibit 117: Craft Distillers - Overview
• Exhibit 118: Craft Distillers - Product / Service
• Exhibit 119: Craft Distillers - Key offerings

• 11.7 Davide Campari Milano NV 
• Exhibit 120: Davide Campari Milano NV - Overview
• Exhibit 121: Davide Campari Milano NV - Business segments
• Exhibit 122: Davide Campari Milano NV - Key offerings
• Exhibit 123: Davide Campari Milano NV - Segment focus

• 11.8 Destileria Tlacolula 
• Exhibit 124: Destileria Tlacolula - Overview
• Exhibit 125: Destileria Tlacolula - Product / Service
• Exhibit 126: Destileria Tlacolula - Key offerings

• 11.9 Diageo Plc 
• Exhibit 127: Diageo Plc - Overview
• Exhibit 128: Diageo Plc - Business segments
• Exhibit 129: Diageo Plc - Key offerings
• Exhibit 130: Diageo Plc - Segment focus

• 11.10 DONA VEGA LLC 
• Exhibit 131: DONA VEGA LLC - Overview
• Exhibit 132: DONA VEGA LLC - Product / Service
• Exhibit 133: DONA VEGA LLC - Key offerings

• 11.11 Dos Hombres Inc. 
• Exhibit 134: Dos Hombres Inc. - Overview
• Exhibit 135: Dos Hombres Inc. - Product / Service
• Exhibit 136: Dos Hombres Inc. - Key offerings

• 11.12 El Silencio Holdings LLC 
• Exhibit 137: El Silencio Holdings LLC - Overview
• Exhibit 138: El Silencio Holdings LLC - Product / Service
• Exhibit 139: El Silencio Holdings LLC - Key offerings

• 11.13 Ilegal Mezcal 
• Exhibit 140: Ilegal Mezcal - Overview
• Exhibit 141: Ilegal Mezcal - Product / Service
• Exhibit 142: Ilegal Mezcal - Key offerings

• 11.14 Kimo Sabe Mezcal 
• Exhibit 143: Kimo Sabe Mezcal - Overview
• Exhibit 144: Kimo Sabe Mezcal - Product / Service
• Exhibit 145: Kimo Sabe Mezcal - Key offerings

• 11.15 Mezcal de Amor SAPI de CV 
• Exhibit 146: Mezcal de Amor SAPI de CV - Overview
• Exhibit 147: Mezcal de Amor SAPI de CV - Product / Service
• Exhibit 148: Mezcal de Amor SAPI de CV - Key offerings

• 11.16 Pernod Ricard SA 
• Exhibit 149: Pernod Ricard SA - Overview
• Exhibit 150: Pernod Ricard SA - Product / Service
• Exhibit 151: Pernod Ricard SA - Key offerings

• 11.17 Scorpion Mezcal 
• Exhibit 152: Scorpion Mezcal - Overview
• Exhibit 153: Scorpion Mezcal - Product / Service
• Exhibit 154: Scorpion Mezcal - Key offerings

12 Appendix

• 12.1 Scope of the report 

• 12.2 Inclusions and exclusions checklist
• Exhibit 155: Inclusions checklist
• Exhibit 156: Exclusions checklist

• 12.3 Currency conversion rates for US$ 
• Exhibit 157: Currency conversion rates for US$

• 12.4 Research methodology 
• Exhibit 158: Research methodology
• Exhibit 159: Validation techniques employed for market sizing
• Exhibit 160: Information sources

• 12.5 List of abbreviations 
• Exhibit 161: List of abbreviations

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