Gin is obtained by original distillation of mash, or by reinstallation of distilled spirits with juniper berries and other plants, and is usually triple distilled in traditional copper stills. The alcohol content in gin is typically 40% to 47%. Gin is one of the widest category of spirits, of various styles, origins and flavors, having around juniper as a common ingredient.
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.
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.
Emerging economies in Latin America, Asia Pacific, and Africa are expected to offer growth opportunities to market players, owing to economic development, increasing population, increasing disposable income, urbanization, and improving standard of living in countries such as Brazil, India, China, and South Africa.
Stringent government regulations on limited and permissible consumption of these products are expected to hinder growth of the global gin market. For instance, the Federal Uniform Drinking Age Act of 1984 has established the minimum legal drinking age as 21 years in the U.S., however, there are some exceptions in some states that allow individuals under the age of 21 to drink alcohol with parents, and certain family members. Rising awareness campaigns with regards to harmful effects of alcohol consumption across the globe are expected to hinder the market growth during the forecast period. For instance, Alcohol Awareness Week is conducted by Alcohol Change U.K., which is a limited company registered in England and Wales.
Key manufacturers in the global gin market include Diageo, Pernod Ricard, Bacardi, William Grant & Sons, San Miguel Corporation, William Grant & Sons, Great Lakes Distillery LLC, LARIOS and others.
On the basis of product type, the global gin market is segmented into:
On the basis of production method, the global gin market is segmented into:
On the basis of distribution channel, the global gin market is segmented into:
On the basis of region, the global Gin market is segmented into: