April 2020, MRFR Press Release/- Market Research Future has published a Research Report on the Global Mezcal Market.
The Global Mezcal Market size is estimated to reach USD 1,136.52 million by 2027 and is anticipated to register a CAGR of 11.3% between 2020 and 2027. The demand for the mezcal market is increasing owing to the rising preference for premium alcohol consumption across the globe. Furthermore, the younger population across the world is inclining towards the consumption of beverages having authentic flavors. This is triggering the growth of the mezcal market. Increasing disposable income coupled with the development of organized retail store chains across emerging economies is also adding towards its growth. Although, mezcal being a regional beverage, it forayed across the world as a result of globalization and commercialization.
Mezcal production is only legalized in seven states of Mexico with the presence of numerous small and medium producers. However, off-late, key alcohol manufacturers have witnessed a tremendous spike in mezcal consumption across the globe. This has resulted in a series of strategic partnerships through mergers and acquisitions of these small Mexican mezcal producers to commercialize mezcal beverage across the globe. For instance, the acquisition of super-premium alcohol brands Montelobos Mezcal and the Ancho Reyes liqueur by Davide Campari-Milano S.p.A. Furthermore, acquisition of Ilegal Mezcal, a Guatemala based mezcal manufacturer by Bacardi Ltd. Such strategic acquisitions are anticipated to create a significant growth impact on the mezcal market during the forecast period.
The shift in consumer taste and preference towards consumption of premium alcoholic drink
Growth Opportunities in the Market