Global Mezcal Market 2019-2023| 22% CAGR Projection over the Next Five Years | Technavio

The global Mezcal market is expected to post a CAGR of over 22% during
the period 2019-2023, according to the latest market research report by Technavio.

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Technavio has published a new market research report on the global mezcal market from 2019-2023. (Graphic: Business Wire)

A key factor driving the growth of the global Mezcal market is the
rising demand for premium spirit products. There has been a continuous
rise in the demand for premium and super-premium spirits in the advanced
economies including the US and UK, particularly, among the millennial
consumers. In addition, higher spending capacity among consumers from
North America and Western Europe are encouraging vendors to launch
highly differentiated premium mezcal products. Furthermore, rising
popularity of promotional experience including mezcal tasting is further
expected to propel the demand for premium, and differentiated mezcal
products, which will boost the overall market during the forecast period.

As per Technavio, the growing emphasis on sustainable production
practices will have a positive impact on the market and contribute to
its growth significantly over the forecast period. This global
mezcal market 2019-2023 research report also analyzes
other important trends and market drivers that will affect market growth
over 2019-2023.

Global Mezcal market: Growing emphasis on
sustainable production practices

There has been increasing emphasis on adopting sustainable production
practices as the production of mezcal often generates a significant
amount of liquid and solid waste. With growing awareness among consumers
regarding industrial waste disposal and the impact of pollution on the
ecosystem, vendors in the market have started adopting sustainable
production and waste management initiatives. These initiatives enable
the market participants to minimize the overall carbon footprint. Thus,
the continuous adoption of sustainable practices and initiatives
undertaken for mezcal production will drive the market’s growth in the
forthcoming years.

“Mezcal market players are increasingly focusing on establishing
sustainable distilleries in emerging economies including Mexico. These
distilleries use organically farmed agave plants roasted using
sustainable wood-based ovens. In addition, the byproducts and waste
generated during mezcal production in these distilleries is often reused
by composting into adobe bricks, which are then used for construction
purposes,” says a senior research analyst at Technavio.

Global Mezcal market: Segmentation analysis

This market research report segments the global Mezcal market by product
(Mezcal joven, Mezcal reposado, and Mezcal añejo) and geographic regions
(North America, Europe, APAC, South America, and MEA).

North America led the market in 2018, followed by Europe, APAC, South
America, and MEA respectively. The market growth in North America can be
attributed to the growing import and export of Mezcal in different North
American economies including the US and Canada. In addition, the rising
popularity of mezcal in the cocktail space and rapid growth of
on-premises sales of mezcal spirits in the US have fueled the market’s
growth during the forecast period.

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Some of the key topics covered in the report include:

Market Landscape

• Market ecosystem
• Market characteristics
• Market segmentation analysis

Market Sizing

• Market definition
• Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

• Regional comparison
• Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

• Vendors covered
• Vendor classification
• Market positioning of vendors
• Competitive scenario

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