Mezcal Market by Product Analysis

1. Mezcal Market by Product Type (Joven, Reposado, Añejo), By Distribution Channel (Store-Based, Non-Store-Based), and country, Market Share, Forecast Data, In-Depth Analysis, And Detailed Overview, and Forecast, 2021-2026

2. According to this report, the world mezcal market was valued at US $ 727.11 million in 2019 and is expected to reach US $ 1,136.55 million by 2027. It is expected to grow at a CAGR of 6.1% from 2020 to 2027. Market overview: The mezcal drink is produced using the agave plant (customarily known as maguey). The enormous contrast among mezcal and tequila is the manner in which the agaves are cooked to separate every one of the fermentable sugars. Agaves or magueys are found primarily in many parts of Mexico and south of the equator, although most mezcal is made in Oaxaca. Mezcal can be prepared from different varieties of agave. Recent developments: Pernod Ricard has not confirmed whether the partnership includes the purchase of a minority or majority stake in the brand. Market Drivers and Restrains: The upward trend in premiumization, leading to the consumption of luxury beverages, is expected to drive demand for Mezcal. Demand for mezcal, a tropical herbal agave liqueur, has increased significantly in recent years and is expected to increase further during the forecast period. There is a growing trend among wealthier consumers in established spirits markets to seek out exciting and novel high-end products and to turn to beverages from a variety of niches with high production value. As a result, the volume of premium spirits has increased significantly compared to that of standard spirits. The demand for premium mezcal describes the growth of the global market. In addition, it highlights the potential for small manufacturers to partner with larger players to enter new markets, which is expected to be a critical step in ensuring the growth of the mezcal market. To know more read: https://www.marketdataforecast.com/market-reports/mezcal-market Report is segmented as: By Product Type: Joven Reposado Anejo By Distribution Channel:

3. Store based Non store based Geographical Segmentation: North America had the biggest portion of the business' worldwide income in 2018. The United States is one of the fundamental business sectors for mezcal in the North American locale. Key part in the North American district are thinking about the developing fame of mezcal and are putting to open production plants in the area, which is exceptionally well known for mezcal creation. Moreover, interest for spirits through house to house channels, including full-administration eateries and bistros/bars, is relied upon to increment altogether over the estimate time frame. Impact of COVID-19 on Mezcal Market: The COVID-19 outbreak was first reported in Wuhan, China in December 2019. As of January 2021, the United States, Brazil, India, Russia, Spain, and the United Kingdom are among the most affected countries in terms of confirmed cases and reported deaths. The COVID-19 pandemic is negatively impacting economies and industries in several countries due to lockdowns, travel bans, and business closures. Food and beverage is one of the world's leading industries experiencing severe disruptions, including supply chain disruptions, technology event cancellations, and office closures. For example, China is the world's manufacturing center and the largest supplier of raw materials for various industries and is also one of the worst affected countries. Key market players: Some of the key players in the market are Pernod Ricard, Ilegal Mezcal, and William Grant & Sons Ltd.