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.
Growth Drivers
Challenges
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
7.2% |
|
Base Year Market Size (2024) |
USD 18.48 billion |
|
Forecast Year Market Size (2037) |
USD USD 46 billion |
|
Regional Scope |
|
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:
|
By Standard |
|
|
By Product Type |
|
|
By Distribution Channel |
|
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.
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
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?