What are the major factors driving the growth of the gin market?

In the year 2025, the industry size of gin is estimated at USD 19.56 billion. Read More

Gin Market Trends

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

Base Year	2022
Forecast Year	2023-2035
CAGR	~7%
Base Year Market Size (2022)	~ USD 16 Billion
Forecast Year Market Size (2035)	~ USD 28 Billion
Regional Scope	North America (U.S., and Canada) Latin America (Mexico, Argentina, Rest of Latin America) Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific) Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of Middle East and Africa)

Global Gin Market Size, Forecast, and Trend Highlights Over 2023 - 2035

The global gin market is estimated to garner a revenue of ~USD 28 Billion by the end of 2035 by growing at a CAGR of ~7% over the forecast period, i.e., 2023 – 2035. Further, the market generated a revenue of ~USD 16 Billion in the year 2023. 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.

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	North America (U.S., and Canada) Latin America (Mexico, Argentina, Rest of Latin America) Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific) Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of Middle East and Africa)

What are the factors driving the gin landscape?

The 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. Escalating urban population across the globe and rising consumption of alcohol will drive the market growth.

Who are the key players in the gin sector?

The major players in the market include Diageo plc, Lucas Bols N.V., William Grant & Sons Limited, Remy Cointreau, Bacardi Limited, Davide Campari-Milano N.V., The Brownâ€“Forman Corporation, Pernod Ricard SA, Heineken N.V., San Miguel Corporation.

Gin Market Trends