Global Gin Market Report and Forecast 2024-2032

Global Gin Market Size

The global gin market reached around USD 14.35 billion in 2023. The market is projected to grow at a CAGR of 4.0% between 2024 and 2032 to reach USD 20.42 billion by 2032.

Global Gin Market Outlook

• The United Kingdom is the largest gin exporter globally.

• In 2021, off-trade consumption of gin in the USA reached $2.9 billion.

• Spain is one of the largest consumers of gin worldwide.

Global Gin Market Growth

After whiskey, gin is the most widely consumed alcoholic beverage in Spain. In 2019, the number of restaurants in the country recorded a year-on-year growth of 7%, reaching 9,370. Handcrafted and flavoured gins are expected to become popular over the forecast period, due to their unique flavour profiles, good quality perception, and great brand story.

In 2023, gin distillers generated over $1 billion in sales, by selling over 8 million 9-litre bottles in the United States of America. The sale of super-premium gins surged by 16% in 2023 to cross the threshold of 700,000 9-litre bottles in the country.

As the consumption of high-quality cocktails increases, the demand for good-quality gins is expected to soar. London Dry Gin and Old Tim Jin enjoy high appeal among the British population. MoTropical and exotic flavours are expected to witness an increase in sales. Celebrity gin brands are expected to become commonplace in households globally.

Matcha, lemongrass, cherry blossoms, yuzu, and other flavours inspired by Asian botanicals are expected to become popular among gin manufacturers for their refreshing taste. Low-alcohol gins are expected to appeal to the consumers of non-alcoholic beverages, thereby contributing to the market growth.

Global Gin Industry Segmentation

Global Gin Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Type

• London Dry Gin

• Old Tim Gin

• Plymouth Gin

• Others

Market Breakup by Distribution Channel

• On-Trade

• Off-Trade

Market Breakup by Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa 

Global Gin Market Share

Based on region, the market is divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. Over the forecast period, Europe is projected to emerge as one of the leading regions for gin consumption and grow at a CAGR of 4.6% between 2024 and 2032. This is being driven by rising alcohol consumption in the region and the introduction of innovative flavours of gin.

Leading Companies in the Global Gin Market

Major gin manufacturers are developing sustainable methods to minimise carbon emissions and enhance their brand image.

• Diageo Plc

• Bacardi Ltd.

• Pernod Ricard S.A.

• Suntory Holdings Limited

• William Grant & Sons Limited

• Anheuser-Busch Inbev SA

• Davide Campari-Milano N.V.

• Radico Khaitan Ltd.

• San Miguel Corporation

• Remy Cointreau S.A.

• Others

Key Highlights of the Report