Global Gin Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global gin market size reached US$ 15.3 Billion in 2022. Looking forward, the market is expected to reach US$ 20.2 Billion by 2028, exhibiting a growth rate (CAGR) of 4.74% during 2022-2028. The growing demand for premium cocktails, rising consumption of pre-mixed and fresh cocktail recipes, and increasing demand for ready-to-drink (RTD) and luxury spirits represent some of the key factors driving the market.

Gin is a flavored, distilled, and colorless or pale yellow liquor manufactured from purified spirits obtained from a grain mash with the juniper berry as its principal flavoring ingredient. It is also flavored with various botanicals comprising herbs, spices, flowers, and fruits, such as almonds, angelica, anise, cassia, coriander, fennel, and citrus peels. It is widely used in a variety of combinations and mocktails, such as negroni, martini, and tonic. It is a rich source of antioxidants that offer anti-aging and anti-inflammatory properties to improve blood flow and remove toxins from the blood. It assists in preventing premature aging, enhancing digestion, and maintaining weight. It also provides vitamin C that aids in minimizing the risks of developing cardiovascular diseases, joint pains, and hypertension. As it can be consumed by individuals suffering from diabetes due to low carbohydrates, the demand for gin is rising across the globe.

Gin Market Trends

At present, there is an increase in the demand for gin due to its earthy appeal and natural flavor and to produce high-quality cocktails around the world. This, along with the rising demand for premium cocktails on account of the passion for mixed drinks and handcrafted cocktails, represents one of the key factors supporting the growth of the market. In addition, the growing consumption of pre-mixed and fresh cocktail recipes without artificial colorants and flavors is positively influencing the market. Besides this, there is a rise in the demand for gin during social gatherings and festive occasions to experiment with other alcoholic beverages. This, coupled with the increasing awareness among the masses about the benefits of gin, is propelling the growth of the market. Moreover, the growing demand for gin in numerous exotic flavors, such as orange, bergamot, lemon, grapefruit, and lime, is offering a favorable market outlook. Apart from this, the wide availability of gin through various distribution channels, such as liquor outlets at airports and online channels, is strengthening the growth of the market. In line with this, the growing consumption of ready-to-drink (RTD) and luxury spirits due to inflating income levels of individuals is catalyzing the demand for gin.

Key Market Segmentation

This research provides an analysis of the key trends in each sub-segment of the global gin market report, along with forecasts at the global, regional and country level from 2023-2028. The report has categorized the market based on type, price point and distribution channel.

Type Insights:

• London Dry Gin
• Old Tom Gin
• Plymouth Gin

The report has provided a detailed breakup and analysis of the gin market based on the type. This includes London dry gin, old tom gin, Plymouth gin, and others. According to the report, London dry gin represented the largest segment.

Price Point Insights:

• Standard
• Premium
• Luxury

A detailed breakup and analysis of the gin market based on the price point has also been provided in the report. This includes standard, premium, and luxury. According to the report, premium accounted for the largest market share.

Distribution Channel Insights:

• On-trade
• Off-trade

A detailed breakup and analysis of the gin market based on the distribution channel has also been provided in the report. This includes on-trade and off-trade. According to the report, on-trade accounted for the largest market share.

Regional Insights:

• North America
• United States
• Canada
• Asia-Pacific
• China
• Japan
• India
• South Korea
• Australia
• Indonesia
• Europe
• Germany
• France
• United Kingdom
• Italy
• Spain
• Russia
• Latin America
• Brazil
• Mexico
• Middle East and Africa

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others) was the largest market for gin. Some of the factors driving the Europe gin market included the growing number of well-established distilleries, rising consumption of spirits, increasing popularity of craft cocktails, etc.

Competitive Landscape

The report has also provided a comprehensive analysis of the competitive landscape in the global gin market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Bacardi Limited, Davide Campari-Milano N.V., Diageo plc, Forest Spirits by La Hanoudière, Lucas Bols N.V., Mygin, Pernod Ricard, Radico Khaitan Ltd., Rémy Cointreau, San Miguel Corporation, The East India Company Ltd., William Grant & Sons Ltd., etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Key Questions Answered in This Report:

• How has the global gin market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global gin market?
• What is the impact of each driver, restraint, and opportunity on the global gin market?
• What are the key regional markets?
• Which countries represent the most attractive gin market?
• What is the breakup of the market based on the type?
• Which is the most attractive type in the gin market?
• What is the breakup of the market based on the price point?
• Which is the most attractive price point in the gin market?
• What is the breakup of the market based on the distribution channel?
• Which is the most attractive distribution channel in the gin market?
• What is the competitive structure of the global gin market?
• Who are the key players/companies in the global gin market?