Gin Market Size
| Study Period | 2019 - 2029 |
| Market Volume (2024) | 0.86 Billion liters |
| Market Volume (2029) | 1.13 Billion liters |
| CAGR (2024 - 2029) | 5.38 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Europe |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Gin Market Analysis
The Gin Market size is estimated at 0.86 Billion liters in 2024, and is expected to reach 1.13 Billion liters by 2029, growing at a CAGR of 5.38% during the forecast period (2024-2029).
The rising popularity of premium alcoholic beverages especially among youngsters is one of the major factors influencing the growth of the global gin market. Consumers now carry a passion for mixed drinks and handcrafted cocktails, thereby fuelling the demand for premium cocktails across the globe. For instance, in May 2023, Empress 1908 Indigo Gin launched Empress 1908 Elderflower Rose Gin. This unique gin is handcrafted and distilled with nine unique botanicals including juniper berries, rose petals, elderflower, lavender, orange peel, orris root, cinnamon, coriander, and black carrot. The ruby color is achieved by combining red rose petals and black carrots. Pre-mixed and fresh cocktail recipes are moving away from artificial colorants and flavors in preference for high-quality ingredients with a natural appeal.
In addition, gin consumption is rising among women who are savvy shoppers and younger women are consuming more gin. For instance, according to research by the University of Derby, United Kingdom revealed 57% of gin women increased their consumption of gin over the past two years in the year 2020. Further, gin is valued for its earthy appeal and natural flavor, and most on-trade counters utilize a significant amount of gin to produce high-quality cocktails. As alcohol consumption is rising globally, the market for alcoholic beverages is changing as more distilleries are entering the global beverage business. Therefore, all such factors are supporting the growth of the gin market across the globe.
Gin Market Trends
Infusion of Gin in Premium Cocktails
Alcoholic beverages deal with premiumization leading to greater demand as the younger generation who are constantly looking to explore unique and high-quality alcoholic beverages. Market players are opting for the inclusion of natural ingredients in alcoholic beverages to improve their functionality, which is in turn gathering a lot of attention from consumers. As a result, natural flavors are gaining widespread acceptance to enhance the drink's inherent appeal. Gin is rising in consumption as during social gatherings and festive occasions, millennials try to experiment with gin and other alcoholic beverages. For instance; as per the Beverage Information Group, consumers in the United States consumed nearly 1,510 1,000 9-litre cases of Seagram's Gin in the year 2021.
Gin is popular because it has a natural flavor and lends a drink an earthy appeal. Higher consumption of gin-based cocktails is further ensured by the introduction of contemporary on-trade channels and increased spending on cocktail parties, both of which support the expansion of the global market. For instance, several American gin brands have gained significance and created an excellent brand image among consumers. Therefore, all such factors are propelling the consumption of gin across the globe.
Asia-Pacific is the Fastest Growing Region
The Asia-Pacific region is dealing with an increasing number of potential consumers opting for gin as a result of rapid urbanization and westernization. This trend is further influenced by the rising inclination towards partying and booze culture, as more Asian youth consumers are getting involved in drinking habits at an early age, which boosts the demand for gin and related spirits.
As per data cited by IMF and World Bank, there has been a consistent rise in the overall expenditure made by Asian consumers on alcohol and tobacco products, which has been leading to the growth of the overall market. There has been an estimate made that total expenditure is likely to reach around USD 425 billion by 2025. Further, pubs and bars are specializing in the special cocktail party lounge in response to shifts in consumer preferences. Vodka and gin-based cocktails such as Asian Pear Mule, Whisky Mac, Japanese Highball, Singapore Sling, and Soju Watermelon Cocktail are largely favored by affluent consumers. Thus, such factors are promoting the growth of gin in the Asia-Pacific market over the forecast years.
Gin Industry Overview
Gin is a clear, strong, aromatic alcohol liquor distilled from rye and other grains and is usually flavored. The global gin market is highly competitive due to multiple regional and multinational companies. Every company adheres to its business strategy to capture the largest possible market share. Along with a review of the industry's competitive landscape, the major players have also been profiled such as Bacardi Limited, Davide Campari-Milano N.V., Diageo plc, Anheuser-Busch Companies, LLC., Pernod Ricard, and William Grant & Sons Ltd. The significant players continuously focus on product innovation with the launch of premium gins to capture consumer interest. These companies are increasing their investments in research and development (R&D), social media marketing, and expanding their geographical presence to maintain their position in the market.
Gin Market Leaders
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Bacardi Limited
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Davide Campari-Milano N.V.
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Diageo Plc
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William Grant & Sons Ltd.
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Anheuser-Busch Companies, LLC.
*Disclaimer: Major Players sorted in no particular order
Gin Market News
- In April 2022, Bombay Sapphire, a brand owned by Bacardi launched a lemon-flavored gin called Citron Presse gin, made with Mediterranean lemons. The company has planned to roll out new products across significant countries including Australia, Germany, Ireland Andorra, Belgium, France, Switzerland, Denmark, Austria, Spain, and Portugal.
- In March 2022, Diageo India invested Nao Spirits, a producer of high-end Indian handmade gins namely "Greater Than" and "Hapusa." With this investment, Diageo India aims to increase its involvement in India's rapidly expanding premium gin market.
- In March 2022, William Grant & Sons launched Hendrick's Neptunia Gin. The master distiller Lesley Gracie used a combination of "unmistakably Hendrick's" Scottish coastal botanicals to produce Hendrick's Neptunia.
- In April 2021, Pernod Ricard S.A. introduced several ready-to-drink (RTD) drinks in the United Kingdom market. Newly launched RTDs utilize Beefeater gin and products include Beefeater London Dry Gin & Tonic, Beefeater Blood Orange & Tonic, and Beefeater Pink Strawberry Gin & Tonic.
Gin Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Force Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Type
5.1.1 London Dry Gin
5.1.2 Old Tom Gin
5.1.3 Plymouth Gin
5.1.4 Other Types
5.2 Distribution Channel
5.2.1 On -Trade
5.2.2 Off - Trade
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.1.4 Rest of North America
5.3.2 Europe
5.3.2.1 United Kingdom
5.3.2.2 Germany
5.3.2.3 Spain
5.3.2.4 France
5.3.2.5 Italy
5.3.2.6 Russia
5.3.2.7 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 Rest of Asia-Pacific
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle East & Africa
5.3.5.1 Saudi Arabia
5.3.5.2 South Africa
5.3.5.3 Rest of Middle East & Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Bacardi Limited
6.3.2 Davide Campari-Milano N.V.
6.3.3 Diageo Plc
6.3.4 William Grant & Sons Ltd.
6.3.5 Suntory Holdings Limited
6.3.6 Pernod Ricard
6.3.7 Radico Khaitan Ltd
6.3.8 Remy Cointreau
6.3.9 San Miguel Corporation
6.3.10 The East India Company Ltd.
6.3.11 Anheuser-Busch Companies, LLC.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Gin Industry Segmentation
Gin is an alcoholic beverage with a floral, juniper, and fresh and dried fruit botanical flavor profile. It is a distilled spirit produced from pure spirits obtained from grain mash, and it ranges in color from translucent to pale yellow. The global gin market is segmented by type, distribution channel, and geography. By type, the market is segmented into London dry gin, old tom gin, Plymouth gin, and others. By distribution channel, the market is segmented into on-trade and off-trade. By geography, the market is segmented into North America, Europe, South America, Asia-Pacific, and Middle-East and Africa. For each segment, the market sizing and forecasts have been done on the basis of value (in USD million).
| Type | |
| London Dry Gin | |
| Old Tom Gin | |
| Plymouth Gin | |
| Other Types |
| Distribution Channel | |
| On -Trade | |
| Off - Trade |
| Geography | |||||||||
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Gin Market Research FAQs
How big is the Gin Market?
The Gin Market size is expected to reach 0.86 billion liters in 2024 and grow at a CAGR of 5.38% to reach 1.13 billion liters by 2029.
What is the current Gin Market size?
In 2024, the Gin Market size is expected to reach 0.86 billion liters.
Who are the key players in Gin Market?
Bacardi Limited, Davide Campari-Milano N.V., Diageo Plc, William Grant & Sons Ltd. and Anheuser-Busch Companies, LLC. are the major companies operating in the Gin Market.
Which is the fastest growing region in Gin Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Gin Market?
In 2024, the Europe accounts for the largest market share in Gin Market.
What years does this Gin Market cover, and what was the market size in 2023?
In 2023, the Gin Market size was estimated at 0.81 billion liters. The report covers the Gin Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Gin Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
What are the key sustainability challenges & opportunities for gin producers?
The key sustainability challenges & opportunities for gin producers are a) Eco-friendly packaging b) Local sourcing & responsible production practices
Gin Industry Report
The global gin market is on an upward trajectory, this growth is driven by increasing adult demand for alcoholic beverages, a surge in premium liquor consumption, and the expansion of e-commerce and retail sectors. With gin varieties like London Dry and Plymouth gaining popularity for their health benefits and as fashion statements, the market is also seeing innovations such as 3D printing for customized products and a shift towards natural and sustainable offerings. Despite potential challenges from high production costs and health concerns over excessive consumption, opportunities for expansion in distribution channels and an increase in distilleries are emerging. Europe remains the market leader due to its established distilleries and high spirit consumption, while North America and Asia-Pacific are also showing significant growth potential. Statistics for the Gin market share, size, and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Gin analysis includes a market forecast outlook and historical overview. Get a sample of this industry analysis as a free report PDF download.
