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 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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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.
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
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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