12th
April 2019 - The
global mezcal market is subject to witness a substantial growth due to the
increasing import & exports activities of mezcal across the globe.
Additionally, increasing exports in regards to overall volume and revenue
coupled with improved quality and self-life of the products are some of the
encouraging indications for the growth of this market. Increasing production of
mezcal owing to growing demand of the products from Latin America and North
America region are expected to drive market growth in the upcoming years.
Globally, the mezcal market is predicted to grow at CAGR of 21.99% in forecast
period, providing numerous opportunities for market players to invest in
research and development in the mezcal market.
Furthermore, easy availability of the products due to presence of online
retailing and increasing exports are anticipated to fuel demand of mezcal over
the forecast period. Rise of the e-commerce sector are expected to offer
immense opportunities for businesses to increase overall revenue of their
products in the upcoming years. As per recent reports, as much as twelve
percent of 12% of the global retail trade is currently driven by e-commerce.
Many of the e-commerce platforms focuses on both business to consumer (B2C) and
business-to-business (B2B) operations. These factors are expected to positively
influence market progress in the upcoming years.
However, lack of distribution challenges and limited scope of investment
in the market are some of the key factors restraining market growth to a
certain extent, in the recent years. Yet, increasing penetration of
supermarkets, hypermarkets, retail stores, big chains of discount and
convenience stores are anticipated to fill out gap in the distribution network
of mezcal products, thereby driving market growth in the last couple of years.
Although, serval concerns in regards to production the products like pressure
regarding the declining prices and profit margins of the product are expected
to limit market growth owing to lower profit margin by retail stores.
Mezcal is commonly known as an authentic Mexican alcoholic drink that is
yielded from the agave plant, also called as a maguey, which is mostly found in
the North America region prominently. The mezcal beverage is made by processing
agave extracts; the process commonly involves distillation and fermentation.
Agave extracts are obtained after harvesting agave plats during maturity period
or during production of its first single flower. Commonly, upper portion of the
plants, which contains large concentrations of sugar, are processed slowly in
underground pits for particular amount of period.
Increasing demand from North America region is credited to growing
popularity of the drink among young population. Significant amount of mescal
has been exported, especially from Oaxaca every year. Favorable governmental
laws and regulations are expected to aid small and medium-sized businesses to
gather more customer base in the upcoming years, these factors are predicted to
positively influence market growth over the forecast period. Increasing import
from U.S and Japan are anticipated to fuel overall market growth. Currently,
the mezcal is sold in more than twenty-seven countries across the globe, thus
driving market growth.
The mezcal market is divided by region as North America, Europe,
Asia-Pacific, Latin America and Africa. North America has shown major growth in
recent years owing to the rise in the adoption of latest methodologies in
manufacturing process of mezcal and existence of prominent industry players in
the region. Latin America is predicted to hold major market share in the mezcal
market with massive growth in forecast period. Countries such as Mexico, Japan,
and U.S. are leading the mezcal market with increase in the consummation and
significant investment by leading industry players considering potential growth
opportunities in the region.
The key players in the mezcal market are Distillery Destileria Tlacolula,
S. de R.L. M.I., Ilegal Mezcal (IM), Pernod Ricard (PR) Co., Mezcal Pierde
Almas, William Grant & Sons (WGS) Co., El Silencio Holdings, Inc., El
Tinieblo, Fidencio Mezcal, Gem & Bolt LLC, and Heavy Métl Premium.
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