NEW YORK, Aug. 11, 2021 /PRNewswire/ -- The mezcal market is poised to grow by USD 979.02 million during 2020-2024, progressing at a CAGR of 24% during the forecast period. Craft Distillers (US), Ilegal Mezcal (Guatemala), Mezcal Amores (Mexico), Pernod Ricard SA (France), and Scorpion Mezcal (Mexico) will retain their dominant position in mezcal market vendor landscape during the forecast period.
Rising demand for premium spirit products, increasing investment by international players, and surging exports of mezcal are some of the prominent factors anticipated to boost the mezcal market growth positively during the forecast period. In addition, the growing emphasis on sustainable production practices and the rising prominence of social media and celebrity influencers are some of the key trends expected to lead the market to flourish during the forecast period. However, increasing competition from substitutes and growing production and supply constraints might hinder the progress of the mezcal market.
Mezcal Market 2020-2024 : Segmentation
Mezcal Market is segmented as below:
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Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our mezcal market report covers the following areas:
Mezcal Market size
Mezcal Market trends
Mezcal Market industry analysis
This study identifies rising prominence of social media and celebrity influencers as one of the prime reasons driving the mezcal market growth during the next few years.
Mezcal Market 2020-2024: Vendor Analysis
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. BECLE SAB DE CV, Destilería Tlacolula, Diageo Plc, El Silencio Holdings Inc., and William Grant & Sons Ltd. are some of the other major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
Backed with competitive intelligence and benchmarking, our research report on the mezcal market is designed to provide entry support, customer profile, and M&As as well as go-to-market strategy support.
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7.6 South America - Market size and forecast 2019-2024
Exhibit 40: South America - Market size and forecast 2019-2024 ($ million)
Exhibit 41: South America - Market size and forecast 2019-2024 ($ million) exclusive of COVID-19 effect
Exhibit 42: South America - Year-over-year growth 2019-2024 (%)
7.7 MEA - Market size and forecast 2019-2024
Exhibit 43: MEA - Market size and forecast 2019-2024 ($ million)
Exhibit 44: MEA - Market size and forecast 2019-2024 ($ million) exclusive of COVID-19 effect
Exhibit 45: MEA - Year-over-year growth 2019-2024 (%)
7.8 Key leading countries
Exhibit 46: Key leading countries
7.9 Market opportunity by geography
Exhibit 47: Market opportunity by geography ($ million)
8. Drivers, Challenges, and Trends
8.1 Market drivers
8.1.1 Rising demand for premium spirit products
8.1.2 Increasing investment by international players
8.1.3 Increase in mezcal exports
8.2 Market challenges
8.2.1 Growing production and supply constraints
8.2.2 Competition from substitutes
8.2.3 Negative impact of NOM regulations in Mexico
Exhibit 48: Impact of drivers and challenges
8.3 Market trends
8.3.1 Rising prominence of social media and celebrity influencers
8.3.2 Popularity of handcrafted, artisanal Mezcal
8.3.3 Growing emphasis on sustainable production practices
9. Vendor Landscape
9.1 Vendor landscape
Exhibit 49: Vendor landscape
9.2 Landscape disruption
Exhibit 50: Landscape disruption
Exhibit 51: Industry risks
Techanavio's Analysis on the impact of Disruption Threats by comparing Disruptive sources and Factors driving disruption
10. Vendor Analysis
10.1 Vendors covered
Exhibit 52: Vendors covered
10.2 Market positioning of vendors
Exhibit 53: Market positioning of vendors
10.3 BECLE SAB DE CV
10.4 Craft Distillers
10.5 Destilería Tlacolula
10.6 Diageo Plc
10.7 El Silencio Holdings Inc.
10.8 Ilegal Mezcal
10.9 Mezcal Amores
10.10 Pernod Ricard SA
10.11 Scorpion Mezcal
10.12 William Grant & Sons Ltd.
11.1 Scope of the report
11.2 Currency conversion rates for US$
11.3 Research Methodology
Validation techniques employed for market sizing
11.4 List of abbreviations
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