Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Gin Market size was valued at USD 18.48 billion in 2024 and is set to exceed USD 46 billion by the end of 2037, registering over 7.2% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of gin is estimated at USD 19.56 billion.
The growth of the market is primarily attributed to the escalating urban population, along with the existence of distilleries in a large number across the globe. For instance, the global urban population reached around 4 billion in 2018 which was an increase from about 700 million in 1950.
Gin is known as a distilled alcoholic drink that is made out of juniper berries. It also offers a predominant juniper flavor and herbal note since around 8 herbs are utilized to produce gin. Global gin market trends such as rising consumption of gin, along with the developing bar and cocktail culture are anticipated to drive the growth of the market over the forecast period. For instance, the per person volume in the gin segment was projected to be about 0.08 liters. Furthermore, in the alcohol industry, the gin segment was valued at approximately USD 10 billion in 2022. Therefore, such factors are anticipated to foster the growth of the market over the forecast period.
Gin Sector: Growth Drivers and Challenges
Growth Drivers
- Rising Inclination Toward Bar and Cocktail Culture - For Instance, in 2022, the number of bars & nightclubs projected in the United States was around 70,000. In the modern era, people are more inclined to visit bars and nightclubs. In this workaholic generation, bar and cocktail culture are more prevalent than ever. A significant amount of one’s salary is spent on such recreational activities. Hence, such prevalence of bars is estimated to propel the growth of the market over the forecast period.
- Growth in Disposable Income - The disposable income of the OECD countries amounted to approximately 50,000 U.S. dollars per capita in 2019.
- Escalating Demand for Gin in Food and Beverages - In 2020, the food and beverages industry of India was valued at nearly USD 45 billion.
- Rising Consumption of Alcohol to Boost the Market Growth - As of 2020, the total sale of alcoholic beverages in the USA was projected to be around USD 200 billion.
Challenges
- Very High Manufacturing Cost of Gin - The manufacturing costs of a regular bottle of gin are considerably higher owing to the manufacturing method, raw material costs, and so on. The price of premium gin is extremely expensive for middle-class consumers, which is limiting industry expansion.
- Government Initiatives Regarding the Sales and Production of Gin
- Negative Health Issues Associated with Gin Consumption
Gin Market: Key Insights
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
7.2% |
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Base Year Market Size (2024) |
USD 18.48 billion |
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Forecast Year Market Size (2037) |
USD USD 46 billion |
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Regional Scope |
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Gin Segmentation
Distribution Channel (On-Trade, Off-Trade)
The global gin market is segmented and analyzed for demand and supply by distribution channel into on-trade and off-trade, out of which, the off-trade segment is estimated to witness noteworthy growth over the forecast period. The growth of the segment is ascribed to the changing perception of people toward social drinking, along with the massively increasing distribution channels such as, liqueur outlets at airports. As of 2021, in the United States sales of ready-to-drink alcoholic beverages increase by nearly 15% on the off-trade channels. Additionally, beer sales through off-trade sales reached approximately 80% in Germany.
Our in-depth analysis of the global gin market includes the following segments:
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By Standard |
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By Product Type |
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By Distribution Channel |
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Customize this ReportGin Industry - Regional Synopsis
North America Market Forecast
The North America gin market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2037. The region is projected to witness remarkable growth on the back of higher consumption and production of alcoholic beverages during the forecast period. For instance, in 2020, alcohol consumption in the United States reached around 2 gallons of ethanol per capita. Similarly, the higher export and import of gin in North America is further anticipated to fuel the market growth over the forecast period. For instance, approximately 9 million gallons of gin were imported into the USA in 2020 and the export volume was projected to be nearly 1 million gallons in a similar year. Hence, all these factors are anticipated to hike the growth of the market in the region over the forecast period.
Companies Dominating the Gin Market
- Diageo plc
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Lucas Bols N.V.
- William Grant & Sons Limited
- Remy Cointreau
- Bacardi Limited
- Davide Campari-Milano N.V.
- The Brown–Forman Corporation
- Pernod Ricard SA
- Heineken N.V.
- San Miguel Corporation
In the News
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Diageo plc to invest about USD 200 million to construct the very first brewery that is purpose-built carbon neutral. Diageo plc plans to build this brewery in Littelconnell, Newbridge, Co. Kildare site to brew lagers and ales along with Kilkenny, Carlsberg, and Hop House, with the capacity of 2 million hectoliters.
The Brown–Forman Corporation merged its path with the Coca-Cola Company to develop and launch the iconic Jack & Coke cocktail, a ready-to-drink (RTD), in the form of a pre-mixed cocktail option. This cocktail is inspired by the classic bar cocktail.
Author Credits: Rajrani Baghel
- Report ID: 55
- Published Date: Oct 10, 2024
- Report Format: PDF, PPT
