Global Gin Market

The global gin market was valued at USD 11.9 billion in 2022 and is expected to grow at a CAGR of 4.4%.

NEW YORK CITY, NEW YORK, UNITED STATES, March 23, 2023 /EINPresswire.com/ -- The global gin market is a rapidly growing industry that is expected to continue to expand in the coming years. Gin is a distilled alcoholic beverage that is flavored with juniper berries and other botanicals. The growing popularity of gin-based cocktails and the rising demand for premium and craft gin products are driving the growth of the market.

The demand for gin is increasing due to the growing popularity of gin-based cocktails and the rising consumer preference for premium and craft gin products. The trend in the market is towards the use of natural and organic botanicals in gin products, as well as the development of new and innovative gin flavors. The largest market for gin is Europe, with the United Kingdom being the largest consumer of gin globally. The fastest-growing market for gin is Asia Pacific, with a CAGR of over 6% from 2021 to 2028.

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Key Takeaways:

- The global gin market was valued at USD 11.4 billion in 2022 and is expected to grow at a CAGR of 4.4% from 2022 to 2032.

- The largest market for gin is Europe, followed by North America and Asia Pacific.

- The premium and super-premium gin segments are expected to witness the highest growth rate during the forecast period.

- The growing popularity of gin-based cocktails and the rising demand for craft and artisanal gin products are driving the growth of the market.

Market Dynamics

Drivers:

The drivers of the gin market include the rising popularity of gin-based cocktails, the increasing demand for premium and craft gin products, and the growing number of gin distilleries worldwide.

Restraints:

The restraints of the gin market include the high taxes and regulations on alcohol in some countries, as well as the limited availability of high-quality botanicals.

Opportunities:

The opportunities in the gin market include the development of new and innovative gin flavors, the expansion of the market in emerging economies, and the use of social media and digital marketing to reach new consumers.

Challenges:

The challenges in the gin market include the increasing competition among gin brands, the high cost of production, and the shortage of high-quality botanicals in some regions.

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Key Market Segments
Type

Pot Distilled Gin
Column Distilled Gin
Compound Gin
Other

Application

Commercial Use
Home Use

Key Market Players included in the report:

Aviation American Gin
Beefeater
Lucas Bols
The Botanist
Blackwoods
Bombay Sapphire
Boodles British Gin
Booths Gin
Brokers Gin
Catoctin Creek
Citadelle Gin
Damrak
Beam Suntory
Gilpins Gin
Irish Distillers Limited
Ginebra San Miguel
Gordons Gin
Greenall’s Gin
Hayman Distillers
Hendricks Gin

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Recent Developments:

- In 2021, Diageo launched a new range of gin products under its Gordon's brand, including a Sicilian Lemon Gin and a Mediterranean Orange Gin.
- In 2020, Pernod Ricard acquired the Italian gin brand Malfy Gin, expanding its portfolio of premium gin products.
- In 2019, The Gin Hub, a joint venture between Pernod Ricard and Irish Distillers, launched a new premium gin brand called Method and Madness Gin.

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