it is estimated to grow at a CAGR of 6. 4% during 2020–2027. Mezcal beverage is, in essence, a Mexican distilled spirit that is made from the agave plant (traditionally, it is known as maguey).
New York, March 04, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "North America Mezcal Market Forecast to 2027 – COVID-19 Impact and Regional Analysis – By Type, Product ; Sales Channel and Country." - https://www.reportlinker.com/p06027843/?utm_source=GNW
However, while all Tequila is Mezcal, not all Mezcal beverage is Tequila.
The increasing trend of premiumization, which is leading to the consumption of luxury beverages, is expected to boost the demand for Mezcal market.This supports the demand for alcoholic as well as non-alcoholic products.
Moreover, when it comes to alcoholic drinks, the millennial population is ready to spend more on the high-end and super-premium products.The premiumization trend is more than sipping spirits.
There is an increasing demand for the premium mezcal products among millennial consumers. This is owing to the increasing disposable income in developed economies such as North America. The market for high-end premium spirits grew by 5-6% per year by volume from 2019 to 2021 owing to the growing per-capita disposable income of consumers and the persisting growth of the economy, which further boost the market growth in the forecast period. The need for mezcal, a tropical agave plant-based liquor, increased significantly over the past few years and is further expected to grow further over the forecast period. The rising demand for premium mezcal outlines the growth of the mezcal market. Moreover, it highlights the potential for smaller manufacturers to partner with the larger players to enter new markets, which is anticipated to be an essential step to ensure growth in the mezcal market.
Based on type, the North America mezcal market is segmented into blends and 100% agave.In 2019, the 100% agave mezcal segment dominated the market.
Mezcal is defined as any agave-based liquor. This also includes tequila, which is prepared in specific regions of Mexico and must be made from only blue agave (agave tequilana). 100% Agave mezcal meant that all the fermented sugars which are distilled to become tequila come from the Blue Weber agave plant. It is a pure spirit where the addition of any other ingredient (color, flavor, etc.) Mezcal can be obtained from more than 30 varieties of agave. According to spirits writer Chris Tunstall, the most common varieties of agave utilized for mezcal are tobalá, tobaziche, tepeztate, arroqueño, and espadín, which is the most common agave and accounts for up to 90% of mezcal. The two types of mezcal are made of 100% agave and are mixed with other ingredients, with about 80% agave.
The mezcal market in North America is segmented into the US, Canada, and Mexico.Several mezcal breweries have a strong foothold in the North American region.
Key market players present in the North American mezcal market include EL Silencio Holdings, Inc., Mezcal Vago, Ilegal Mezcal, Rey Campero, and many others. These breweries are constantly working towards innovation and development of different varieties of mezcal with improved tastes along with qualities to attract new consumers and widen the consumer base in the region. The export of mezcal to several countries across North America will contribute to the rise in demand for mezcal in the region. Innovative programs aimed at marketing the product across North America will constitute to increase in demand for mezcal in North America. In the North American region, the US is a major market for Mezcal in the North American region, followed by Canada and Mexico. Mostly, consumers belonging to the age group of 25-50 years form a major part of the consumer base for mezcal in North America. The price of mezcal is usually high as compared to regular wine and beer, so the per capita income with affordability has a direct impact on the consumption of mezcal in North America. People belonging to the middle age group are also very much inclined towards traditional as well as luxury drinks. Hence their contribution to the growth of the mezcal market in North America is projected to be higher in the upcoming years.
El Silencio, Mezcal Vago, Pernod Ricard, Ilegal Mezcal, Rey Campero, Mezcal Amores, Craft Distillers, Los Danzantes, Mezcalgulroo and Wahaka are among the major players operating in the North America mezcal market.
The COVID-19 outbreak started in Wuhan, China, in December 2019.As of February 2021, the US, Mexico and Canada are among the worst-affected countries in terms of COVID-19 confirmed cases and reported deaths.
The pandemic is hindering economies and industries in various countries due to lockdowns, travel bans, and business shutdowns.Shutdowns in the food & beverages industry and disruptions in supply chains are limiting supplies of various products.
The US has the highest number of confirmed cases across North America. The shutdown of many food processing plants during lockdown is restraining the growth of the mezcal market in North America.
The overall North America mezcal market size has been derived in accordance to both primary and secondary source.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
Also, multiple primary interviews have been conducted with industry participants and commentators to validate data, as well as to gain more analytical insights into the topic. The participants who typically involved in the process include industry experts, such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants, such as valuation experts, research analysts, and key opinion leaders specializing in the North America mezcal market.
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