LONDON--(BUSINESS WIRE)--The global mezcal market is expected to register a CAGR of around 22% during the period 2018-2022, according to the latest market research report by Technavio.
A key factor driving the market’s growth is the new product launches and product innovation. The global increase in the product demand has contributed to new product launches. The existing market vendors are concentrating on improving their existing offers or launching innovative products that appeal to the evolving taste preferences of their key target segments.
This market research report on the global mezcal market 2018-2022 provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio predicts an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the premiumization trend in mezcal industry as one of the key emerging trends in the global mezcal market:
Global mezcal market: Premiumization trend in the mezcal industry
Over the past five years, the trend of premiumization has been increasing in the mezcal industry, which has been vital in changing the overall performance of the mezcal market in different regions of the world. The demand for premium mezcal products has grown immensely in Western European countries such as the UK, Germany, Belgium, Spain, and France.
“A Mexico based mezcal vendor has emerged as a key player in the premium mezcal market in Mexico. The company is continuously focusing on adopting techniques such as strong and innovative branding and attracting consumers’ interest by using ingredients such as cane sugar in its mezcal products,” says a senior analyst at Technavio for research on alcoholic beverages.
Global mezcal market: Segmentation analysis
This market research report segments the global mezcal market based on product type (joven, reposado, and anejo) and key regions (the Americas, APAC, and EMEA). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the three major product types, the joven segment held the largest market share in 2017, contributing to over 83% of the market. The market share occupied by this segment is expected to decrease by more than 3% by 2022. However, this segment will dominate the global market throughout the forecast period.
The Americas was the leading region for the global mezcal market in 2017. It accounted for a market share of more than 84%. It was followed by the EMEA and APAC region.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market sizing
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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