Global mezcal market expected to reach $2.1 billion by 2031

The global mezcal market is expected to reach $2.1 billion by 2031, new data by Straits Research has revealed.

The market, currently worth $338 million is forecasted to grow at 22.6% CAGR between 2023 and 2031, with North America driving the growth.

According to the Distilled Spirits Council of the United States, tequila and mezcal accounts for 31% of the total increase in spirits revenue in the US in 2021.

Growth in Europe has been strong, last month Proof Drinks, UK distributor of The Lost Explorer mezcal reporter sales of the brand had grown 1,000% year-on-year in the UK compared with the same period in 2021.

But the increases aren’t without concern for the rapidly growing category.

According to Mexico’s Regulatory Council for Mezcal Quality, more than 8 million litres of mezcal were certified in 2021, generating about 136,000 metric tons of solid waster and 80 million litres of liquid waste.