Market Insight

Market Research Future (MRFR) announces the publication of its Half-Cooked Research Report Global Gin Market, 2019–2024. Gin is a flavored alcoholic drink predominantly made with juniper berries as a botanical ingredient. Gin is column distilled with a unique blend of botanicals and ingredients, resulting in a spirit with enhanced flavor. Column distillation includes a continuous stripping of alcohol from water along with a loss of flavoring congeners. The production of gin is high in the UK although the spirit has its origins in Holland. Popular cocktails such as gin martini, gin gimlet, gin & tonic, Negroni, and Tom Collins include gin. Additionally, the juniper berries in gin serve several medicinal purposes such as they help in combating infections, bad coughs, and lung congestion. However, the high consumption of gin may lead to high cholesterol levels and several other health issues which are expected to hinder market growth during the forecast period. The global gin market is projected to register a significant growth rate of 4.33% from 2019 to 2024 to reach a market value of USD 11.2 billion by the end of 2024.

Gin Market Leading Players

Some of the key players in the Global Gin Market are The East India Company Ltd (UK), Davide Campari-Milano S.p.A. (Italy), William Grant & Sons Ltd (UK), Bacardi Limited (Bermuda), Boudier Gabriel Ets SA (France), Diageo plc (UK), Pernod Ricard S.A. (France), Ginebra San Miguel Inc. (Philippines), The Poshmakers Ltd (UK), Suntory Holdings Limited (Japan), The Sustainable Spirit Co. (UK), Forest Dry Gin (Belgium), The Black Bottle Distillery (UK), West End Drinks Ltd (UK), and Langtons Gin Ltd (UK).

Gin Market Regional Analysis

The global Gin Market has been analyzed for four key regions—North America, Europe, Asia-Pacific, and the rest of the world.

The gin market in Europe is projected to account for the largest market share during the assessment period. Belarus, Moldova, and Lithuania are a few of the highest alcohol consuming countries in Europe. In most European countries, the legal drinking age and minimum age for purchase of alcoholic beverages are 18. This makes alcoholic beverages accessible and, in turn, drives the gin market growth in the region.

Moreover, the liberal regulations to produce and sell gin in small amounts in the region have created an opportunity for several independent gin manufacturers to market their products, thereby making it highly accessible for consumers across Europe. According to the UK government’s HM Revenue and Customs and the Wine and Spirits Trade Association (WSTA), 49 gin distilleries were opened in the UK in 2016 and consumers in the country spent USD 662 million on gin in the same year, compared to USD 192 million in 2009. In 2017, the annual sales of gin in the UK reached USD 1.3 billion. The high consumption of cocktails at restaurants and bars and increasing demand for gin in sophisticated and versatile cocktails are expected to boost the growth of the European market during the forecast period.

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Gin Market Segment

The global Gin Market has also been segmented by type and distribution channel.

By type, the global gin market has been classified as London Dry, Plymouth, Old Tom, and others. The London Dry segment is expected to be the largest and fastest growing during the forecast period.

Based on distribution channel, the global gin market has been segmented into hypermarkets and supermarkets, specialty stores, and others. The hypermarkets and supermarkets segment are projected to occupy the maximum market share and grow at the fastest rate during the review period.