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The global mezcal market is projected to exhibit robust growth owing to the increasing demand for premium alcoholic beverages. Mezcal is a unique Mexican spirit and is distilled from the mash of steamed shoots of various species of cactus-like plants called ‘agave’. Espadin species of agave is used to make most of the mezcals and some mezcal producers blend agave varieties to create a distinct flavour. In recent years, mezcal has been highly demanded due to its increasing popularity and thus various species of agaves are being exploited to fulfil the demand. The increasing pace of growth has caught the attention of the leading international liquor companies.
In United States and Mexico, Mezcal has become a staple spirit in trendy bars. Consumers are preferring mezcal over the other crafted spirits due to the availability of a variety of flavours in mezcals. The diversity of agave species and various methods of production result in a range of flavour profiles. Depending on the kind of agave used, variety of taste notes such as marzipan, fig, mint, vanilla, citrus fruits, honey, cinnamon, mango and other flavours can be created in mezcals.
The increasing demand for premium craft beverages due to the evolving dietary patterns and increasing discretionary incomes is primarily driving the growth of the global mezcal market. The growing demand for high-end, super-premium liquors, especially among millennials is fuelling the mezcal sales. Product innovations have also drawn consumers to more expensive liquors. The major companies are grabbing new opportunities in the craft spirits category and are developing new products to capitalize on this growing trend. For instance, in March 2020, Bacardi owned Dewar’s scotch whiskey announced a launch of Dewar’s Ilegal Smooth, a double-aged blended scotch whiskey finished in Ilegal mezcal casks for a pleasant sweet, and smooth blend with a wisp of smoke.
Key Market Driver -
Increasing Demand for Premium Craft Beverages
Key Market Restraint -
Rising Trend of Consuming Non-alcoholic, Healthy Beverages
The rising awareness of adverse health effects of consuming alcoholic beverages across the globe is expected to hamper the growth of the mezcal market in foreseeable years. The consumption of alcohol is perceived to cause lifestyle-related disorders. The rising consumer demand for functional beverages for their health benefits is expected to impede the growth of the global mezcal market. Emerging trends such as cannabis beverages and non-alcoholic craft beers are touted to negatively impact the demand for premium alcoholic craft beverages such as mezcals.
Pernod Ricard, Ilegal Mezcal, William Grant and Sons Ltd., Rey Campero, El Silencio Holdings, Inc., Enotria & Coe, Xiaman Spirits GmbH, Lagrimas de Dolores, Fidencio Mezcal and Diageo Plc are the key companies operating in the global mezcal market.
The global mezcal market is segmented by age, distribution channel and geography. Mezcal Jovan is expected to witness substantial growth owing to its smoother taste. These mezcals come directly from the still without any ageing and sold directly. Joven is the purest form of mezcal. The manufacturers are expanding their product portfolio by introducing new Jovan mezcals. For instance, in February 2020, IZO Agave Spirits launched a pure, all-natural mezcal joven, with a smooth flavor of naturally-smoked agave in the United States.
Supermarkets and hypermarkets are expected to witness robust growth owing to the wide variety of products. Specific aisles are allocated for products in such stores that provide various options for customers to choose from. The discounts and offers launched by supermarkets and hypermarkets are expected to boost the growth of the segment.
North America is projected to exhibit strong growth attributed to the popularity of mezcal in Mexico. Mezcal is a national spirit of Mexico. The growing popularity of mezcal in the U.S. and Canada is expected to drive the growth of the market in the region. The rising popularity of mezcal among celebrities and its increasing promotions is expected to positively influence the demand in the region. For example, in July 2019, two actors in the U.S., Bryan Cranston and Aaron Paul launched a mezcal brand Dos Hombres. The launch has increased the demand among consumers.
Europe is expected to witness robust growth owing to the rising trend of consuming premium craft beverages. The growing millennial consumer base across the region is encouraging companies to expand their geographical presence. For instance, in May 2018, Diageo, a British multinational alcoholic beverage company acquired Pierde Almas, a Mexican brand of mezcal to expand its product portfolio in Europe and around the world.
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Asia Pacific is expected to witness robust growth due to the highly diversified consumption patterns. The growth of the market in the region is also attributed to the increasing demand for premium alcohol. The availability of a variety of flavors in mezcal as compared to other alcoholic beverages is expected to attract a larger consumer base in the foreseeable years. The growing number of bars and shops selling spirits is expected to contribute to the growth in the region.
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