What are the Historical Developments and Current Growth Metrics of the Gin Market?
The gin market has seen considerable growth due to a variety of factors.
• In recent times, there has been a stable increase in the size of the gin market. The market, which was worth $14 billion in 2024, is projected to increase to $14.64 billion in 2025, with a compound annual growth rate (CAGR) of 4.6%.
Several factors have contributed to this growth in the historic period, including the craft distilling movement, the resurgence of cocktail culture, the trend toward premiumization, marketing and branding strategies, and the globalization of taste.
What Does the Future Hold for the Gin Market?
The gin market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the size of the gin market is forecasted to steadily increase, expanding to $17.54 billion by 2029, with a compound annual growth rate (CAGR) of 4.6%.
This growth within the projected timeframe can be ascribed to sustainability and environmentally friendly approaches, advancements in ready-to-drink (RTD) variations, international cultural exchange, and the emergence of local craft brands and inclusive, diverse advertising campaigns. Other notable trends within this period are digital marketing and e-commerce, progressive changes in RTD styles, flavor enhancements, sustainability, locally sourced components, and craft and small-scale gin production.
What Factors Are Driving Growth In The Gin Market?
The gin market is poised for growth due to the burgeoning demand for alcoholic beverages. An alcoholic beverage is a fermented spirit like wine, lager, or whisky, which contains ethyl alcohol (CH3CH2OH) as the principle intoxicant. It has been noted that alcohol consumption can reduce the risk of heart disease and assist in the control and prevention of high blood pressure. As a distilled alcoholic drink, gin presents a plethora of options to meet the escalating demand for alcohol, thereby bolstering its market growth. For instance, a report by the Federal Statistical Office (Destatis), a German public broadcaster, showed that beer sales in Germany in August 2022 rose by 3.8%, or 157.2 million liters, compared to the previous year. Domestic consumption made up 82.5% of all beer sales, which were subjected to taxation. Domestic sales saw a 6.4% annual increase, totaling 3.6 billion liters in the first half of 2021. Thus, the surging demand for alcoholic beverages is fuelling the growth of the gin market.
What Are The Primary Segments In The Global Gin Market?
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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Which Key Trends Are Driving Changes In The Gin Market Size?
Novel product developments are increasingly becoming a dominant trend in the gin market. The primary businesses in the gin market are creating groundbreaking products to consolidate their market standing. For example, in February 2023, Legendario SL, a Spanish firm specializing in alcoholic beverages, introduced a novel version of its esteemed bowtie gin. This gin exhibits a blend of sophistication and inventiveness coupled with a relaxed ambiance. Bowtie achieves a harmony of components like juniper, coriander, citrus, and lemon peel. Its flavor delivers a pleasant, subtly sweet, and warming sensation with hints of confectionery and mineral elements. Essentially, this is an Unique Superior Gin, designed for a more discerning market.
Who Are the Key Players 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 Is The Most Dominant Region In The Gin Market?
Europe was the largest region in the gin market in 2024. Asia-Pacific is expected to be the fastest-growing region in the global gin market during the forecast period. The regions covered in the gin market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
