Report : Middle East & Africa 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)
At 5.3% CAGR, Middle East & Africa Mezcal Market is Projected to be Worth US$ 34.71 Million by 2030, says Business Market Insights
According to Business Market Insights research, the Middle East & Africa mezcal market was valued at US$ 22.92 million in 2022 and is expected to reach US$ 34.71 million by 2030, registering a CAGR of 5.3% from 2022 to 2030. Increase in demand for luxury and premium beverages are among the critical factor attributed to the Middle East & Africa mezcal market expansion.
The rising demand for luxury and premium beverages has emerged as a driving force for the Mezcal market. One significant catalyst for this trend is the increase in disposable income among consumers. As people's earnings have grown, they are more inclined to allocate a portion of their budget to indulging in high-end spirits such as Mezcal. This has opened up opportunities for premium Mezcal brands to thrive as consumers seek distinctive, elevated drinking experiences. Additionally, the influence of millennials cannot be understated. This demographic cohort has shown a particular penchant for spending on high-end beverages, driven by a desire for quality, authenticity, and unique flavor profiles. Mezcal aligns perfectly with these preferences, offering a handcrafted and artisanal product that resonates with the millennial demographic, contributing significantly to the surge in demand. Moreover, the evolution of consumer preferences plays a pivotal role in driving the Mezcal market. Modern consumers increasingly seek unique and sophisticated spirits that go beyond the ordinary. With its intricate production process, smoky notes, and distinct flavors, Mezcal aligns well with this shift. It has become a symbol of refined taste and has gained a reputation as a premium beverage choice, attracting discerning consumers looking for a more elevated drinking experience. The burgeoning cocktail culture has further contributed to Mezcal's ascent in the luxury beverage market. Mixologists and bartenders have embraced Mezcal as a versatile and premium ingredient for crafting unique and innovative cocktails. Its smoky and complex flavors add depth and character to drinks, making it a sought-after choice in upscale bars and restaurants. This has heightened Mezcal's visibility and spurred consumer interest in recreating these upscale cocktail experiences at home, further driving demand. Lastly, the perception of Mezcal as a luxury product has been amplified by effective marketing strategies and distinctive packaging. Premium Mezcal brands have invested in sophisticated branding highlighting the product's artisanal origins, emphasizing its exclusivity. This marketing approach has attracted consumers looking for status symbols and unique gifting options, bolstering the demand for Mezcal in the luxury spirits market.
On the contrary, stringent regulations hampers the Middle East & Africa mezcal market.
Based on product type, the Middle East & Africa mezcal market is segmented into joven, reposado, anejo, and others. The joven segment held 70.8% share of Middle East & Africa mezcal market in 2022, amassing US$ 16.22 million. It is projected to garner US$ 24.27 million by 2030 to expand at 5.2% CAGR during 2022-2030.
In terms of category, the Middle East & Africa mezcal market is bifurcated into 100% agave and blend. The 100% agave segment held 88.0% share of Middle East & Africa mezcal market in 2022, amassing US$ 20.17 million. It is projected to garner US$ 30.71 million by 2030 to expand at 5.4% CAGR during 2022-2030.
By distribution channel, the Middle East & Africa mezcal market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. The specialty stores segment held 66.6% share of Middle East & Africa mezcal market in 2022, amassing US$ 15.27 million. It is projected to garner US$ 22.70 million by 2030 to expand at 5.1% CAGR during 2022-2030.
Based on country, the Middle East & Africa mezcal market has been categorized into South Africa, the UAE, and the Rest of Middle East & Africa. Our regional analysis states that the Rest of Middle East & Africa captured 63.7% share of Middle East & Africa mezcal market in 2022. It was assessed at US$ 14.60 million in 2022 and is likely to hit US$ 21.77 million by 2030, exhibiting a CAGR of 5.1% during 2022-2030.
Key players operating in the Middle East & Africa mezcal market are Bacardi Martini BV, Davide Campari Milano NV, Diageo Plc, and Pernod Richard SA, among others.
- In July 2020, Pernod Ricard SA announced its collaboration with premium mezcal brand Ojo de Tigre, a traditional Mexican spirit. Ojo de Tigre is a small-batch, artisanal mezcal crafted according to ancient traditions.
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