South & Central America Mezcal Market Forecast to 2030
South & Central America Mezcal Market Forecast to 2030 – Regional Analysis – by Product Type (Joven, Reposado, Anejo, and Others), Category (100% Agave and Blend), and Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, and Others)
$2,840 – $4,440
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- List of Companies
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Description
Increasing Demand for Craft Spirits Fuels South & Central America Mezcal Market
As consumers become more discerning and seek unique, authentic, and premium spirits, craft Mezcals have gained traction as a favored choice. One key advantage of this opportunity is the ability of craft Mezcal producers to differentiate themselves in a crowded market. For instance, brands such as “Mezcal Vago” and “Del Maguey” have gained recognition by emphasizing their artisanal production methods, unique flavor profiles, and direct relationships with local agave farmers. These producers are meeting the demand for quality and tapping into the growing trend of consumers wanting to connect with the stories and traditions behind their spirits.
Furthermore, the craft spirits movement has created a more diverse range of Mezcals available to consumers. Mezcal manufacturers are experimenting with different agave varietals, aging processes, and flavor infusions, offering consumers a broader spectrum of taste experiences. This diversity appeals to cocktail enthusiasts and collectors alike, enhancing the Mezcal market’s overall appeal. The demand for craft spirits is expected to provide an opportunity for Mezcal producers to elevate their products, tell unique stories, and cater to consumers seeking authentic and premium alcoholic beverages.
South & Central America Mezcal Market Overview
The Rest of South & Central America includes Peru, Chile, costa Rica, Colombia, and others. These countries are witnessing good growth in the mezcal market due to the growing demand for natural and healthy products. With the increasing market penetration by the prominent market players, there is a growth opportunity for the mezcal market in these countries.
South & Central America Mezcal Market Revenue and Forecast to 2030 (US$ Million)
South & Central America Mezcal Market Segmentation
The South & Central America mezcal market is segmented into product type, category, distribution channel, and country.
Based on product type, the South & Central America mezcal market is segmented into joven, reposado, anejo, and others. The joven segment held the largest share of the South & Central America mezcal market in 2022.
In terms of category, the South & Central America mezcal market is bifurcated into 100% agave and blend. The 100% agave segment held a larger share of the South & Central America mezcal market in 2022.
By distribution channel, the South & Central America mezcal market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. The specialty stores segment held the largest share of the South & Central America mezcal market in 2022.
Based on country, the South & Central America mezcal market is segmented into Brazil, Argentina, and the Rest of South & Central America. The Rest of South & Central America dominated South & Central America mezcal market in 2022.
Bacardi Martini BV, Davide Campari Milano NV, Diageo Plc, Gente de Mezcal SA de CV, and Pernod Richard SA are some of the leading companies operating in the South & Central America mezcal market.
Summary Info
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According to the Research Team research, the South & Central America mezcal market was valued at US$ 101.08 million in 2022 and is expected to reach US$ 161.57 million by 2030, registering a CAGR of 6.0% from 2022 to 2030. Flavor innovations and rise in availability of alcoholic beverages on e-commerce platforms are among the critical factor attributed to the South & Central America mezcal market expansion.
Mezcal producers are increasingly experimenting with different agave varietals, aging methods, and flavor infusions, which cater to changing consumer preferences and provide unique selling points for their brands. One example of flavor innovation is the use of different agave varieties. While espadin agave is the most commonly used for Mezcal production, some producers explore lesser-known agave types such as tobala, tepextate, and arroqueno. Each agave variety brings its distinct flavor profile to the Mezcal, from earthy and vegetal to fruity and floral notes. This diversity allows consumers to explore various flavors within the Mezcal category, catering to various palate preferences. Another avenue of innovation involves the aging process. Mezcal aging can occur in various containers, such as oak barrels, glass, or clay pots. Producers experiment with different aging periods and container types to impart unique flavors and aromas. For instance, extended aging in oak barrels can introduce hints of vanilla and caramel, enhancing the complexity of the final product. This approach mirrors the techniques often seen in the whiskey and wine industries, offering a bridge for consumers transitioning from those spirits to Mezcal. Lastly, some Mezcal producers infuse their products with botanicals, fruits, or spices to create flavored Mezcals. These infusions can result in various profiles, from smoky and spicy to citrusy and herbal. For instance, “pechuga” Mezcals are infused with fruits, spices, and even meats during distillation, adding unique and savory flavors. These innovations align with the trend in the spirits industry, where flavored spirits and liquors have gained popularity among consumers looking for novel and enjoyable drinking experiences. Overall, the trend of flavor innovation is likely to expand the Mezcal market and make it more accessible and appealing to a broader audience.
On the contrary, stringent regulations hampers the growth of South & Central America mezcal market.
Based on product type, the South & Central America mezcal market is segmented into joven, reposado, anejo, and others. The joven segment held 69.5% share of South & Central America mezcal market in 2022, amassing US$ 70.25 million. It is projected to garner US$ 110.63 million by 2030 to expand at 5.8% CAGR during 2022-2030.
In terms of category, the South & Central America mezcal market is bifurcated into 100% agave and blend. The 100% agave segment held 80.6% share of South & Central America mezcal market in 2022, amassing US$ 81.46 million. It is projected to garner US$ 131.22 million by 2030 to expand at 6.1% CAGR during 2022-2030.
By distribution channel, the South & Central America mezcal market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. The specialty stores segment held 62.9% share of South & Central America mezcal market in 2022, amassing US$ 63.55 million. It is projected to garner US$ 99.72 million by 2030 to expand at 5.8% CAGR during 2022-2030.
Based on country, the South & Central America mezcal market has been categorized into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that the Rest of South & Central America captured 43.8% share of South & Central America mezcal market in 2022. It was assessed at US$ 44.27 million in 2022 and is likely to hit US$ 68.76 million by 2030, exhibiting a CAGR of 5.7% during 2022-2030.
Key players operating in the South & Central America mezcal market are Bacardi Martini BV, Davide Campari Milano NV, Diageo Plc, Gente de Mezcal SA de CV, and Pernod Richard SA, among others.
In September 2023, Bacardi-Martini BV took a stake in super-premium brand Ilegal Mezcal in February 2017, marking its entry into the mezcal category. Ilegal has the super-premium mezcal category at a global level. Hence, Bacardi-Martini BV acquired the Ilegal Mezcal brand to complement its portfolio.
In August 2021, Diageo Plc announced an agreement to acquire the artisan brand Mezcal Uni
o Highlights key business priorities in order to assist companies to realign their business strategies.
o The key findings and recommendations highlight crucial progressive industry trends in South & Central America mezcal market, thereby allowing players across the value chain to develop effective long-term strategies.
o Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
o Scrutinize in-depth South & Central America market trends and outlook coupled with the factors driving the mezcal market, as well as those hindering it.
o Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing, and distribution.
TABLE OF CONTENTS
1. Introduction
1.1 the Research Team Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. South & Central America Mezcal Market Landscape
4.1 Overview
4.3 Porter’s Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Buyers
4.3.3 Threat of New Entrants
4.3.4 Intensity of Competitive Rivalry
4.3.5 Threat of Substitutes
4.4 Ecosystem Analysis
4.4.1 Raw Materials:
4.4.2 Manufacturing Process:
4.4.3 Distribution Channel:
5. South & Central America Mezcal Market – Key Industry Dynamics
5.1 Market Drivers
5.1.1 Increase in Demand for Luxury and Premium Beverages
5.1.2 Rise in Availability of Alcoholic Beverages on E-Commerce Platforms
5.2 Restraints
5.2.1 Stringent Regulations Sustainability and Authenticity
5.3 Opportunities
5.3.1 Increasing Demand for Craft Spirits
5.4 Future Trends
5.4.1 Flavor Innovations
5.5 Impact of Drivers and Restraints:
6. Mezcal Market – South & Central America Market Analysis
6.1 South & Central America Mezcal Market Overview
6.2 Mezcal Market Revenue (US$ Million), 2020 – 2030
6.3 Mezcal Market Forecast and Analysis
7. South & Central America Mezcal Market Analysis – Product Type
7.1 Joven
7.1.1 Overview
7.1.2 Joven Market Revenue and Forecast to 2030 (US$ Million)
7.2 Reposado
7.2.1 Overview
7.2.2 Reposado Market Revenue and Forecast to 2030 (US$ Million)
7.3 Anejo
7.3.1 Overview
7.3.2 Anejo Market Revenue and Forecast to 2030 (US$ Million)
7.4 Others
7.4.1 Overview
7.4.2 Others Market Revenue and Forecast to 2030 (US$ Million)
8. South & Central America Mezcal Market Analysis – Category
8.1 100% Agave
8.1.1 Overview
8.1.2 100% Agave Market Revenue, and Forecast to 2030 (US$ Million)
8.2 Blend
8.2.1 Overview
8.2.2 Blend Market Revenue, and Forecast to 2030 (US$ Million)
9. South & Central America Mezcal Market Analysis – Distribution Channel
9.1 Supermarkets and Hypermarkets
9.1.1 Overview
9.1.2 Supermarkets and Hypermarkets Market Revenue, and Forecast to 2030 (US$ Million)
9.2 Specialty Stores
9.2.1 Overview
9.2.2 Specialty Stores Market Revenue, and Forecast to 2030 (US$ Million)
9.3 Online Retail
9.3.1 Overview
9.3.2 Online Retail Market Revenue and Forecast to 2030 (US$ Million)
9.4 Others
9.4.1 Overview
9.4.2 Others Market Revenue, and Forecast to 2030 (US$ Million)
10. South & Central America Mezcal Market – by Country Analysis
10.1 South & Central America
10.1.1 South & Central Mezcal Market Breakdown by Country
10.1.2 Brazil Mezcal Market Revenue and Forecasts to 2030 (US$ Million)
10.1.2.1 Brazil Mezcal Market Breakdown by Product Type
10.1.2.2 Brazil Mezcal Market Breakdown by Category
10.1.2.3 Brazil Mezcal Market Breakdown by Distribution Channel
10.1.3 Argentina Mezcal Market Revenue and Forecasts to 2030 (US$ Million)
10.1.3.1 Argentina Mezcal Market Breakdown by Product Type
10.1.3.2 Argentina Mezcal Market Breakdown by Category
10.1.3.3 Argentina Mezcal Market Breakdown by Distribution Channel
10.1.4 Rest of South & Central America Mezcal Market Revenue and Forecasts to 2030 (US$ Million)
10.1.4.1 Rest of South & Central America Mezcal Market Breakdown by Product Type
10.1.4.2 Rest of South & Central America Mezcal Market Breakdown by Category
10.1.4.3 Rest of South & Central America Mezcal Market Breakdown by Distribution Channel
11. Company Profiles
11.1 Davide Campari Milano NV
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 Gente de Mezcal SA de CV
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 Bacardi-Martini BV
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 Diageo Plc
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 Pernod Ricard SA
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
12. Appendix
LIST OF TABLES
Table 1. Mezcal Market Segmentation
Table 2. Mezcal Market Revenue and Forecasts to 2030 (US$ Million)
Table 3. Mezcal Market Revenue and Forecasts to 2030 (US$ Million) – Product type
Table 4. South & Central America Mezcal Market Revenue and Forecasts to 2030 (US$ Million) – Category
Table 5. South & Central America Mezcal Market Revenue and Forecasts to 2030 (US$ Million) – Distribution Channel
Table 6. Brazil Mezcal Market Revenue and Forecasts to 2030 (US$ Million) – By Product Type
Table 7. Brazil Mezcal Market Revenue and Forecasts to 2030 (US$ Million) – By Category
Table 8. Brazil Mezcal Market Revenue and Forecasts to 2030 (US$ Million) – By Distribution Channel
Table 9. Argentina Mezcal Market Revenue and Forecasts to 2030 (US$ Million) – By Product Type
Table 10. Argentina Mezcal Market Revenue and Forecasts to 2030 (US$ Million) – By Category
Table 11. Argentina Mezcal Market Revenue and Forecasts to 2030 (US$ Million) – By Distribution Channel
Table 12. Rest of South & Central America Mezcal Market Revenue and Forecasts to 2030 (US$ Million) – By Product Type
Table 13. Rest of South & Central America Mezcal Market Revenue and Forecasts to 2030 (US$ Million) – By Category
Table 14. Rest of South & Central America Mezcal Market Revenue and Forecasts to 2030 (US$ Million) – By Distribution Channel
LIST OF FIGURES
Figure 1. Mezcal Market Segmentation, By Country
Figure 2. Ecosystem: Mezcal Market
Figure 3. Mezcal Market – Key Industry Dynamics
Figure 4. Impact Analysis of Drivers and Restraints
Figure 5. Mezcal Market Revenue (US$ Million), 2020 – 2030
Figure 6. South & Central America Mezcal Market Share (%) – Product Type, 2022 and 2030
Figure 7. Joven Market Revenue and Forecasts to 2030 (US$ Million)
Figure 8. Reposado Market Revenue and Forecasts to 2030 (US$ Million)
Figure 9. Anejo Market Revenue and Forecasts to 2030 (US$ Million)
Figure 10. Others Market Revenue and Forecasts to 2030 (US$ Million)
Figure 11. South & Central America Mezcal Market Share (%) -Category, 2022 and 2030
Figure 12 100.% Agave Market Revenue and Forecasts to 2030 (US$ Million)
Figure 13. Blend Market Revenue and Forecasts to 2030 (US$ Million)
Figure 14. South & Central America Mezcal Market Share (%) -Distribution Channel, 2022 and 2030
Figure 15. Supermarkets and Hypermarkets Market Revenue and Forecasts to 2030 (US$ Million)
Figure 16. Specialty Stores Market Revenue and Forecasts to 2030 (US$ Million)
Figure 17. Online Retail Market Revenue and Forecasts to 2030 (US$ Million)
Figure 18. Others Market Revenue and Forecasts to 2030 (US$ Million)
Figure 19. South & Central Mezcal Market, by Key Countries – Revenue (2022) (US$ Million)
Figure 20. South & Central Mezcal Market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 21. Brazil Mezcal Market Revenue and Forecasts to 2030 (US$ Million)
Figure 22. Argentina Mezcal Market Revenue and Forecasts to 2030 (US$ Million)
Figure 23. Rest of South & Central America Mezcal Market Revenue and Forecasts to 2030 (US$ Million)
The List of Companies – South & Central America Mezcal Market
1. Bacardi Martini BV
2. Davide Campari Milano NV
3. Diageo Plc
4. Gente de Mezcal SA de CV
5. Pernod Richard SA
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