Mezcal Market Share Worth USD 428.18 million by 2027: North America to Dominate Market Growth
The mezcal market size was USD 284.21 million in 2017 and is estimated to reach USD 428.18 million, progressing at a CAGR of 13.18% by 2027. The (driver) is a key factor driving the mezcal market growth.
Technavio publishes the new report on “mezcal market by product (Mezcal joven, Mezcal reposado, and Mezcal anejo), distribution channel (offline stores and online stores), and geography (APAC, North America, Europe, Middle East and Africa, and South America).” The mezcal market growth by the Mezcal Joven segment will be significant during the forecast period.
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The mezcal market structure is fragmented in nature and the vendors are deploying growth strategies such as acquisitions, product launches, and others to promote their businesses in the global market. Some of the major mezcal market are:
North America Accounts for the Largest Market Share in the Mezcal Market
Based on geography, the mezcal market is segmented across APAC, North America, Europe, Middle East and Africa, and South America. North America is projected to contribute 64% of the mezcal market size by 2027. The COVID-19 pandemic led to a decline in demand for mezcal in North America. However, as online channels were active even during the pandemic, there was an increased demand for mezcal.
Furthermore, in 2021 the demand for mezcal rebounded in retail stores as regional activities reopened due to the initiation of COVID-19 vaccination drives and the subsequent lifting of lockdowns.
Factors Impacting the Mezcal Market Growth
Technavio’s research report includes a study on the development and marketing strategies, along with a study on the product portfolios and winning strategies of the leading companies operating in the mezcal market. Download the PDF Sample Report
Key Highlights Covered in the Report
YOY growth rate of the mezcal market.
A diversified analysis of the market’s competitive landscape and detailed information about vendors.
Accurate prediction about upcoming trends and changes in consumer behaviour across North America, Europe, APAC, South America, and the Middle East and Africa.
Comprehensive details of factors that will imapct the growth of mezcal market vendors.