Demand for premium distilled Agave-based beverages is set to propel the mezcal market according to new research.

New figures from Future Market Insights (FMI) revealed that demand in the global mezcal market is estimated to reach USD 635 million by 2024, according to new research.

Over the forecast period, sales are poised to increase at a CAGR of 14.2%. The global industry is estimated to reach USD 1,536 million by 2034.

Increasing consumer demand for premium versions of mezcal is a key factor surging mezcal sales. Rising disposable income and urbanization allow consumers to pay premium prices for quality products, augmenting demand for mezcal in the market.

Growing demand and availability of new flavors in mezcal, such as grapefruit, are expected to fuel market growth. Mezcal is gaining traction worldwide as more people become familiar with its distinctive taste and strong alcohol content. 

The popularity of non-alcoholic drinks is on the rise. Mezcal manufacturers have begun to provide alcohol-free mezcal cocktails to customers. This trend is likely to push growth in the industry.

Technological improvements have made it possible to produce extracts and spirits sustainably. To lower extraction and production costs, leading vendors and manufacturers are working on new products and technologies. Companies are set to improve product traceability by utilizing cutting-edge technology that considerably increases the efficacy and efficiency of supply chains. 

Photo by Israel Torres