Gin Market Size US$ 20.2 Billion, Growth Rate (CAGR) of 4.6%, Top Companies and Forecast Report 2023-2028

IMARC Group, a leading market research company, has recently releases report titled “Gin Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” the study provides a detailed analysis of the industry, including the global gin market size, share, trends and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How big is the gin market?

Report Attributes	Details
Market Size in 2022	US$ 15.3 Billion
Market Forecast in 2028	US$ 20.2 Billion
Growth rate (2023 to 2028)	CAGR of 4.6%
Base Year of the Analysis	2022
Forecast Period	2023-2028

What is Gin?

Gin refers to a flavored, distilled, and colorless light-yellow beverage formulated from pure spirits derived from a grain mash and includes juniper berries as its primary flavoring ingredient. It comprises both the full-bodied and malty-flavored Netherlands kinds and the drier forms made in Britain and the United States, which are characterized by various botanical flavoring. Gin is of several types, such as London dry, prymouth, old tom, and genever. It can be utilized as an air freshener, a multi-purpose cleaner, or a fungicide, and when consumed in moderate amounts, it reduces the risk of heart attacks and other cardiovascular diseases. Gin is extensively available across supermarkets, liquor stores, hypermarkets, retail stores, etc.

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What are the growth prospects and trends in the gin industry?

The escalating demand for alcoholic beverages in developed and developing economies, the rising global population, and the high consumption of liquor by the millennial generation are among the primary factors driving the gin market. Besides this, the changing consumer preferences for innovative and premium spirits variants are further augmenting the market growth. Moreover, the growing popularity of gin cocktails across countries, owing to the emerging trend of consuming varied and experimental drinks among consumers, is also catalyzing the global market. Apart from this, pre-mixed and fresh spirits manufacturers are shifting from utilizing artificial colorants and flavors and favoring superior ingredients to create a natural appeal in the drinks, which is acting as another significant growth-inducing factor. Furthermore, the expansion of modern on-trade channels and the inflating disposable incomes of individuals are expected to bolster the gin market in the coming years.   

Who are the key players operating in the industry?

The report covers the major market players including: 

• 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.

What is included in market segmentation?

The report has segmented the market into the following categories:

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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