IMARC Group, a leading market research company, has recently released a report titled "Gin Market Report by Type (London Dry Gin, Old Tom Gin, Plymouth Gin, and Others), Price Point (Standard, Premium, Luxury), Distribution Channel (On-trade, Off-trade), and Region 2024-2032". The study provides a detailed analysis of the industry, including the global gin market  share, size, trends and growth forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

The global gin market size reached US$ 16.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 23.3 Billion by 2032, exhibiting a growth rate (CAGR) of 4.1% during 2024-2032.

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Factors Affecting the Growth of the Gin Industry:

  • Evolving Consumer Preferences:

In recent years, consumers have shown an increasing preference for premium and diverse alcoholic beverages. Gin, with its wide range of botanicals and flavor profiles, has become a popular choice among consumers seeking unique and sophisticated drinking experiences. The versatility of gin allows for a variety of cocktails, from classic gin and tonic to innovative concoctions, appealing to both traditionalists and experimental drinkers. Moreover, health-conscious consumers are drawn to gin's relatively lower calorie content compared to other spirits and its perceived natural ingredients. This shift in consumer behavior towards more refined and varied alcoholic options prompted producers to innovate and expand their offerings, contributing to the market growth.

  • The Rise of Craft and Artisanal Gins:

The craft spirits movement has gained considerable momentum, with consumers increasingly valuing authenticity, quality, and small-batch production. Craft gin distilleries have capitalized on this trend by emphasizing their unique production methods, locally sourced botanicals, and distinctive flavor profiles. These artisanal gins often highlight regional ingredients and traditional distillation techniques, creating a strong sense of place and heritage that resonates with consumers. The popularity of craft gins has led to a proliferation of small, independent distilleries, each offering their own take on this classic spirit. This has expanded the range of gins available in the market and fostered a culture of innovation and experimentation within the industry, aiding the market growth.

  • Innovative Marketing Strategies:

Gin brands have adopted creative approaches to engage consumers and differentiate themselves in a competitive market. Social media and digital marketing have become vital tools for promoting gin, with brands leveraging platforms like Instagram and Facebook to showcase their products, share cocktail recipes, and connect with a broader audience. Collaborations with mixologists, influencers, and celebrities have further amplified gin's appeal, creating buzz and driving consumer interest. Additionally, experiential marketing initiatives, such as gin festivals, tasting events, and distillery tours, offer consumers an immersive and educational experience, deepening their connection to the brand and enhancing brand loyalty. These marketing efforts have been instrumental in building brand awareness, attracting new consumers, and sustaining interest in gin, bolstering the market reach.

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Gin Market Report Segmentation:

By Type:

  • London Dry Gin
  • Old Tom Gin
  • Plymouth Gin
  • Others

London dry gin dominates the market due to its classic, consistent flavor profile and high quality, making it a preferred choice among gin enthusiasts.

By Price Point Insights:

  • Standard
  • Premium
  • Luxury

Premium represents the majority of shares because it is favored for its superior quality, unique botanicals, and craftsmanship, attracting discerning consumers willing to pay more for a refined experience.

By Distribution Channel:

  • On-trade
  • Off-trade

On-trade holds the majority of shares driven by gin bars and restaurant sales through crafted cocktails and social drinking experiences.

Regional Insights:

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

Europe enjoys the leading position due to its long-standing tradition and cultural affinity for gin, supported by a strong market presence and numerous established brands.

Global Gin Market Trends:

The increasing global popularity of cocktail culture, which emphasizes gin's versatility in mixed drinks, is strengthening the market growth. Concurrently, the expansion of premium gin bars and the rise of gin-centric events and festivals have enhanced consumer exposure and interest in exploring diverse gin varieties, impelling the market growth. Besides this, the increasing focus on botanical diversity and sustainability in production, appealing to environmentally conscious consumers, is supporting the market growth. Furthermore, the globalization of culinary trends has led to greater experimentation with gin in food pairings and gourmet cooking, creating a positive outlook for market demand.

Top Companies Operated in Gin Industry:

  • 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.

Key Highlights of the Report:

  • Market Performance (2018-2023)
  • Market Outlook (2024-2032)
  • Market Trends
  • Market Drivers and Success Factors
  • Impact of COVID-19
  • Value Chain Analysis
  • Comprehensive mapping of the competitive landscape

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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