GIN MARKET ANALYSIS

Gin MarketSize and Trends

Market Outlook:-

On the basis of mode of distribution, the specialty stores segment is expected to account for highest market share during the forecast period. Moreover, key players operating in the market are focused on new products launches in order to strengthen their market presence. For instance, in May 2017, Suntory Holdings Limited introduced its first premium Japanese craft ‘Roku’ gin range. This gin is prepared with six unique Japanese botanicals and eight traditional gin botanicals. Furthermore, in September 2019, Amazon launched its own premium and first spirit brand in the U.K. called Tovess Gin. This is a fruity gin which has 41.5% alcohol by volume (ABV), and is infused with individually distilled lime and grapefruit peels. These factors are projected to facilitate the market growth.

Market Dynamics:-

Changes in consumer preferences have led to increase in demand for gin in developing regions such as Asia Pacific and Latin America, which has created growth opportunities for market players to expand their presence in these regions. In addition to this, rise in the number of distribution channels such as liqueur outlets at airports and online channels is expected to fuel demand for alcoholic beverages and boost growth of the global gin market. Increasing demand for alcoholic beverages among adults worldwide is expected to drive the global gin market growth over the forecast period.