Gin Market Size (2024 - 2029)

The gin market is experiencing growth driven by the increasing demand for premium alcoholic beverages, particularly among younger consumers who favor mixed drinks and handcrafted cocktails. This trend is contributing to the expansion of the market size, as consumers opt for high-quality ingredients with natural appeal over artificial additives. Additionally, the rising consumption of gin among women, coupled with its earthy flavor and versatility in cocktail preparation, is further supporting the market's growth. The global shift in alcohol consumption patterns, with more distilleries entering the market, is also playing a significant role in the expansion of the gin market.

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Market Size of Gin Industry

Gin Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR (2024 - 2029) 5.38 %
Fastest Growing Market Asia Pacific
Largest Market Europe
Market Concentration Low

Major Players

Gin Market 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 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
North America
United States
Canada
Mexico
Rest of North America
Europe
United Kingdom
Germany
Spain
France
Italy
Russia
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa
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Gin Market Size Summary

The global gin market is experiencing significant growth, driven by the increasing popularity of premium alcoholic beverages, particularly among younger consumers. This trend is fueled by a growing passion for mixed drinks and handcrafted cocktails, which has led to a rising demand for high-quality, natural ingredients in gin production. The market is characterized by the introduction of unique and innovative products, such as Empress 1908 Elderflower Rose Gin, which features a blend of botanicals and natural colorants. The consumption of gin is also rising among women, with younger demographics showing a keen interest in gin-based cocktails. This shift in consumer preferences is supported by the expansion of contemporary on-trade channels and increased spending on social gatherings and festive occasions, further propelling the market's growth.

In the Asia-Pacific region, rapid urbanization and westernization are contributing to a burgeoning gin market, as more young consumers embrace a partying and booze culture. This trend is reflected in the increasing expenditure on alcohol and tobacco products, with gin-based cocktails gaining popularity in pubs and bars. The competitive landscape of the global gin market is marked by the presence of major players such as Bacardi Limited, Davide Campari-Milano N.V., Diageo plc, and others, who are focusing on product innovation and expanding their geographical presence. These companies are investing in research and development, as well as social media marketing, to capture a larger market share. The introduction of new products, such as Bombay Sapphire's Citron Presse gin and Diageo India's investment in high-end Indian handmade gins, highlights the ongoing efforts to meet evolving consumer demands and maintain a strong market position.

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Gin Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Drivers

    2. 1.2 Market Restraints

    3. 1.3 Porter's Five Force Analysis

      1. 1.3.1 Threat of New Entrants

      2. 1.3.2 Bargaining Power of Buyers/Consumers

      3. 1.3.3 Bargaining Power of Suppliers

      4. 1.3.4 Threat of Substitute Products

      5. 1.3.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Type

      1. 2.1.1 London Dry Gin

      2. 2.1.2 Old Tom Gin

      3. 2.1.3 Plymouth Gin

      4. 2.1.4 Other Types

    2. 2.2 Distribution Channel

      1. 2.2.1 On -Trade

      2. 2.2.2 Off - Trade

    3. 2.3 Geography

      1. 2.3.1 North America

        1. 2.3.1.1 United States

        2. 2.3.1.2 Canada

        3. 2.3.1.3 Mexico

        4. 2.3.1.4 Rest of North America

      2. 2.3.2 Europe

        1. 2.3.2.1 United Kingdom

        2. 2.3.2.2 Germany

        3. 2.3.2.3 Spain

        4. 2.3.2.4 France

        5. 2.3.2.5 Italy

        6. 2.3.2.6 Russia

        7. 2.3.2.7 Rest of Europe

      3. 2.3.3 Asia-Pacific

        1. 2.3.3.1 China

        2. 2.3.3.2 Japan

        3. 2.3.3.3 India

        4. 2.3.3.4 Australia

        5. 2.3.3.5 Rest of Asia-Pacific

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Rest of South America

      5. 2.3.5 Middle East & Africa

        1. 2.3.5.1 Saudi Arabia

        2. 2.3.5.2 South Africa

        3. 2.3.5.3 Rest of Middle East & Africa

Gin Market Size FAQs

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.

In 2024, the Gin Market size is expected to reach 0.86 billion liters.

Gin Market Report Snapshots

Gin Market Size - Industry Report on Share, Growth Trends & Forecasts Analysis (2024 - 2029)