At 7.3% CAGR, Asia Pacific Mezcal Market is Projected to be Worth US$ 538.79 Million by 2030, says Business Market Insights

According to Business Market Insights research, the Asia Pacific mezcal market was valued at US$ 305.73 million in 2022 and is expected to reach US$ 538.79 million by 2030, registering a CAGR of 7.3% from 2022 to 2030. Rise in availability of alcoholic beverages on E-commerce platforms and increase in demand for luxury and premium beverages are among the critical factor attributed to the Asia Pacific mezcal market expansion.

E-commerce platforms provide a convenient and accessible channel for consumers to explore and purchase Mezcal. Traditionally, acquiring premium and exotic spirits like Mezcal often required visiting specialized liquor stores or bars. However, the proliferation of online liquor retailers has made it easier for consumers to browse and select from a wide range of Mezcal brands and expressions from the comfort of their homes. This convenience factor has expanded the consumer base for Mezcal, including those who might not have easy access to physical stores carrying these products. Also, recently, a few countries have relaxed the government norms regarding online sales of alcohol, which is likely to offer relief for players to some extent. Furthermore, the wealth of information available online regarding Mezcal, including reviews, ratings, and educational content, empowers consumers to make informed choices. This increased transparency and knowledge-sharing creates a more confident and discerning consumer base. As consumers become more educated about Mezcal's unique production methods and regional variations, they are more likely to seek out and appreciate premium offerings, thereby driving the demand for Mezcal. E-commerce platforms allow smaller Mezcal producers to reach a global audience. Previously, these producers may have struggled to gain exposure beyond their local markets. However, online platforms enable them to showcase their artisanal and authentic products to a broader audience, attracting consumers looking for unique, high-quality offerings. This increased visibility for smaller producers adds diversity to the Mezcal market as consumers seek out these distinct, handcrafted expressions. Lastly, the convenience of doorstep delivery offered by e-commerce platforms further enhances the appeal of Mezcal. Consumers can have their preferred bottles of Mezcal delivered to their homes, saving time and effort. This convenience factor encourages repeat purchases and fosters brand loyalty, ultimately driving the Mezcal market's growth.

On the contrary, stringent regulations hampers the growth of Asia Pacific mezcal market.

Based on product type, the Asia Pacific mezcal market is segmented into joven, reposado, anejo, and others. The joven segment held 62.2% share of Asia Pacific mezcal market in 2022, amassing US$ 190.12 million. It is projected to garner US$ 329.30 million by 2030 to expand at 7.1% CAGR during 2022-2030.

In terms of category, the Asia Pacific mezcal market is bifurcated into 100% agave and blend. The 100% agave segment held 84.3% share of Asia Pacific mezcal market in 2022, amassing US$ 257.75 million. It is projected to garner US$ 457.89 million by 2030 to expand at 7.4% CAGR during 2022-2030.

By distribution channel, the Asia Pacific mezcal market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. The specialty stores segment held 55.0% share of Asia Pacific mezcal market in 2022, amassing US$ 168.10 million. It is projected to garner US$ 289.58 million by 2030 to expand at 7.0% CAGR during 2022-2030.

Based on country, the Asia Pacific mezcal market has been categorized into China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. Our regional analysis states that the Rest of Asia Pacific captured 34.6% share of Asia Pacific mezcal market in 2022. It was assessed at US$ 105.78 million in 2022 and is likely to hit US$ 176.62 million by 2030, exhibiting a CAGR of 6.6% during 2022-2030.

Key players operating in the Asia Pacific mezcal market are Bacardi Martini BV, Davide Campari Milano NV, Diageo Plc, Pernod Richard SA, Proximo Spirits Inc, and Quiquiriqui Mezcal Ltd, 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 Augusts 2021, Diageo Plc announced an agreement to acquire the artisan brand Mezcal Uni