Europe Mezcal Market
At 6.8% CAGR, Europe Mezcal Market is Projected to be Worth US$ 724.77 Million by 2030, says Business Market Insights
According to Business Market Insights research, the Europe mezcal market was valued at US$ 427.24 million in 2022 and is expected to reach US$ 724.77 million by 2030, registering a CAGR of 6.8% from 2022 to 2030. Increasing demand for craft spirits and flavor innovations are among the critical factor attributed to the Europe mezcal market expansion.
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.
On the contrary, stringent regulations hampers the growth of Europe mezcal market.
Based on product type, the Europe mezcal market is segmented into joven, reposado, anejo, and others. The joven segment held 53.1% share of Europe mezcal market in 2022, amassing US$ 226.71 million. It is projected to garner US$ 375.18 million by 2030 to expand at 6.5% CAGR during 2022-2030.
In terms of category, the Europe mezcal market is bifurcated into 100% agave and blend. The 100% agave segment held 75.8% share of Europe mezcal market in 2022, amassing US$ 323.74 million. It is projected to garner US$ 555.17 million by 2030 to expand at 7.0% CAGR during 2022-2030.
By distribution channel, the Europe mezcal market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. The specialty stores segment held 45.9% share of Europe mezcal market in 2022, amassing US$ 195.97 million. It is projected to garner US$ 322.83 million by 2030 to expand at 6.4% CAGR during 2022-2030.
Based on country, the Europe mezcal market has been categorized into Germany, France, Italy, the UK, Russia, and the Rest of Europe. Our regional analysis states that the Rest of Europe captured 43.9% share of Europe mezcal market in 2022. It was assessed at US$ 187.73 million in 2022 and is likely to hit US$ 316.87 million by 2030, exhibiting a CAGR of 6.8% during 2022-2030.
Key players operating in the Europe mezcal market are Bacardi Martini BV, Casa Agave Ltd, Davide Campari Milano NV, Diageo Plc, Gente de Mezcal SA de CV, Madre Mezcal Inc, Meanwhile Drinks Ltd, Pernod Richard SA, Proximo Spirits Inc, and Quiquiriqui Mezcal Ltd, among others.
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