How much is the gin market worth, and how is it expected to expand?
The gin market size has grown steadily in recent years. It will grow from $14 billion in 2024 to $14.64 billion in 2025 at a compound annual growth rate (CAGR) of 4.6%. The growth in the historic period can be attributed to craft distilling movement, cocktail culture renaissance, premiumization trend, marketing and branding strategies, globalization of taste.
The gin market size is expected to see steady growth in the next few years. It will grow to $17.54 billion in 2029 at a compound annual growth rate (CAGR) of 4.6%. The growth in the forecast period can be attributed to sustainability and eco-friendly practices, innovation in ready-to-drink (red) formats, global cultural exchanges, rise of local and craft brands, inclusive and diverse marketing. Major trends in the forecast period include digital marketing and e-commerce, innovation in ready-to-drink (RTD) formats, flavor innovation, sustainable and locally sourced ingredients, craft and small-batch gins.
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What are the top drivers to the rising demand in the gin market?
The increasing demand for alcoholic beverages is expected to propel the growth of the gin market going forward. An alcoholic beverage refers to a type of fermented spirit, including wine, lager, or whisky, that contains alcohol, or ethyl alcohol (CH3CH2OH), as an intoxicating agent. Alcohol consumption lowers the chance of developing heart disease as well as the development and maintenance of high blood pressure. Gin is a distilled alcoholic drink that opens up a broad range of options to cater to the growing demand for alcohol, so rising demand for alcoholic beverages will propel the market. For instance, in August 2022, according to a report published by the Federal Statistical Office (Destatis), a Germany-based public, state-owned international broadcaster, beer sales in Germany increased by 3.8%, or 157.2 million liters, compared to 2021. Domestic consumption accounted for 82.5% of all beer sales, which were taxed. Domestic sales increased 6.4% year on year to 3.6 billion liters in the first half of 2021. Therefore, the increasing demand for alcoholic beverages is driving the growth of the gin market going forward.
How is the gin market segmented?
The gin market covered in this report is segmented –
1) By Type: London Dry Gin, Old Tom Gin, Plymouth Gin, Others
2) By Standard: Economy, Premium, Luxury
3) By Distribution Channel: On-Trade, Off-Trade
Subsegments:
1) By London Dry Gin: Traditional London Dry, Distilled London Dry
2) By Old Tom Gin: Classic Old Tom, Barrel-Aged Old Tom
3) By Plymouth Gin: Original Plymouth Gin, Other Variants
4) By Others: Flavored Gin, Sloe Gin, New Western Dry Gin
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Who are the top competitors in the gin market?
Major companies operating in the gin market include Diageo Plc., Suntory Holdings Limited, Pernod Ricard SA, Bacardi Limited, The Roku Gin Company LLC, Davide Campari-Milano N.V., William Grant & Sons Limited, Sazerac Company Inc., Ginebra San Miguel S.A., BlackBerry Limited, Radico Khaitan Ltd., Lucas Bols N.V., New Amsterdam Spirits, Boudier Gabriel Ets SA, Suffolk Distillery Ltd., Southwestern Distillery Ltd., Langtons Gin Ltd, The Sustainable Spirit Co., Gordon’s Distillery Company Limited, Tanqueray Gin Limited, Beefeater Gin Limited, Bombay Sapphire Limited
What significant trends should we anticipate in the gin market over the forecast period?
Product innovations have emerged as the key trend gaining popularity in the gin market. Major companies operating in the gin market are developing innovative products to strengthen their position in the market. For instance, in February 2023, Legendario SL, a Spain-based manufacturer of alcoholic beverages, launched a new bottle of its premium bowtie gin. This gin combines elegance and creativity with a laid-back vibe. Bowtie maintains a balance of juniper, coriander, citrus, and lemon peel components. The flavor has a nice, slightly sweet, warming experience with hints of candy and mineral elements. In a nutshell, this is an Uncommon Superior Gin for the more refined market.
Which regional trends are influencing the gin market, and which area dominates the industry?
The countries covered in the gin market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
What Does The Gin Market Report 2025 Offer?
The gin market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Gin refers to a distilled liquor that is flavoring botanicals and manufactured from grains. It is best recognized as having a pine flavor due to its main component, juniper berries. Its content and juniper berries make it a potent remedy for chronic pain and inflammation, including arthritis, and also helps with sore joints and gout.
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