Gin Market to Reach US$ 19.3 Billion by 2027 at CAGR of 4.8%

According to the latest report by IMARC Group, titled "Gin Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027.' the global gin market reached a value of US$ 14.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 19.3 Billion by 2027, exhibiting at a CAGR of 4.8% during 2022-2027.

Gin Market Overview:

Gin is a flavored, transparent, or light-yellow color alcoholic beverage made by distilling pure spirits produced from a grain mash, and botanicals with juniper berries serving. After their production, it is further infused with cinnamon, coriander, citrus peel, almond, and licorice as standard condiments to enhance texture and flavor. Gin is rich in vitamin C and has antioxidants that help reduce the risk of cardiovascular disease (CVDs), joint discomfort, and high blood pressure. Consequently, it is consumed moderately as a rejuvenated and recreational beverage to alleviate stress for providing a relaxing experience. Currently, they are available in malty-flavored, Plymouth, and full-bodied varieties.  

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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Gin Market Trends:

The increasing consumption of various premium alcoholic beverages, such as mixed drinks and crafted cocktails, especially amongst younger and millennial demographics for recreational purposes, is primarily driving the global gin market toward growth. Furthermore, the changing consumer living standards and the emerging trend of socializing and casual drinking in bars, restaurants, and clubs are favoring the market growth. Additionally, extensive gin usage in the food and beverage (F&B) industry to prepare multiple savory dishes, such as poultry, fish, and pasta, is positively influencing the market growth. Moreover, the introduction of gin in diverse exotic flavors, such as strawberries, raspberries, and red currants, and their availability across various e-commerce distribution channels at cost-effective rates are propelling the market growth. Besides this, the growing number of distilleries, social acceptance, rising disposable income, and increasing urbanization are creating a positive outlook for the market.

Competitive Landscape:

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 (United States, Canada)
Europe (Germany, France, United Kingdom, Italy, Spain, Others)
Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)

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Key highlights of the report:                                                           

Market Performance (2016-2021)
Market Outlook (2022-2027)
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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