Gin Market 2023- Size, Growth, Opportunity and Forecast 2028

According to the latest report by IMARC Group, titled “Gin Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.' the global gin market size reached US$ 15.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 20.2 Billion by 2028, exhibiting a growth rate (CAGR) of 4.6% during 2023-2028.

Gin refers to an alcoholic drink that is created through the distillation of grains and botanicals, particularly juniper berries. The combination of these ingredients produces a clear spirit with a distinct, slightly bitter taste that is often balanced by sweetness or other flavors. Gin is a popular ingredient in cocktails, particularly in classics like martinis and gin and tonics, and can also be enjoyed on its own. The production process for gin may vary depending on the brand, but the use of juniper berries remains a defining characteristic of the drink. With its unique flavor profile and versatility in cocktails, gin has become a staple in bars and households around the world.

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Gin Market Trends:

The increasing demand for premium, high-quality, and unique liquor beverages represent a significant factor driving the market growth across the globe. In line with this, the rapid rise in alcohol consumption and the increasing popularity of cocktail culture are contributing to the market growth. Moreover, the market is also driven by the rising expansion of the bar and restaurant industry. Apart from this, the increasing innovations in flavor and product development as well as several research and development (R&D) activities, along with the presence of many distilleries are further creating a positive outlook for the market.

Gin Market 2023-2028 Competitive Analysis and Segmentation:

Competitive Landscape With Key Players:

The competitive landscape of the gin market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

• 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 Market Segmentation:

Breakup by Type:

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

Breakup by Price Point:

• Standard
• Premium
• Luxury

Breakup by Distribution Channel:

• On-trade
• Off-trade

Breakup by Region:

• North America
• Europe
• Asia Pacific 
• Latin America
• Middle East and Africa

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Key Highlights of the Report:                                                           

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

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