Gin Market Size & Growth, Forecast [2025-2034]

GIN MARKET OVERVIEW

The global Gin market is projected to be valued at approximately USD 1.67 billion in 2025 and is expected to reach USD 3.16 billion by 2034, growing at a compound annual growth rate (CAGR) of 7.34% from 2025 to 2034.

Gin's a potent booze with a juniper berry kick, plus citrus, herbs, and spices. It's a cocktail star, loved in classics like Gin and Tonic, Martini, and Negroni. Gin's popularity has soared, thanks to craft distilleries, fancy brands, and folks loving botanical spirits. Its light, fragrant taste hits the spot for everyone, from casual sippers to experts. With folks craving top-notch, unique, handcrafted booze, the gin market's set to boom worldwide.

IMPACT OF KEY GLOBAL EVENTS

“Post-Pandemic Consumer Behavior Shift Drives Gin Market Growth”

The COVID-19 crisis has shaken up the global gin market, changing how folks drink. With parties banned and more time indoors, people treated themselves to premium and craft gin. This new habit boosted the demand for artisanal spirits, as they mixed up new cocktails and fell for unique, top-notch drinks. Meanwhile, geopolitical probs and supply chain mess-ups hit gin production and shipping, especially in import-heavy areas. But the future looks bright, with home bartending trending and extra cash in some pockets, keeping the gin market on a high.

LATEST TREND

”Craft and Flavored Gin: The Rising Stars of the Industry”

In the gin world, craft and flavored gins are very popular. People want fresh, new drinks, so craft distilleries are doing well. These places make small amounts of top-notch gin with special herbs and flavors. Ingredients like lavender, elderflower, and exotic fruits are big hits. Gin cocktails are also a big deal, with people mixing and matching flavors to suit themselves. The craft gin scene is all about openness, using local ingredients, and being eco-friendly. It's helping the gin market grow. Today, the gin business has plenty of choices for both experts and casual drinkers, keeping up with changing tastes. From classic to quirky, there's something for everyone in the exciting world of craft gin.

GIN MARKET SEGMENTATION

By Type

Based on Type, the global gin market can be categorized into London Dry Gin, Old Tom Gin, Plymouth Gin, and Others.

London Dry Gin: London Dry Gin is the most popular and well-known gin. It has a strong juniper flavor and contains no artificial ingredients. This gin is popular all around the world since it pairs nicely with cocktails and is well-known. Cocktails such as the Gin and Tonic remain popular, driving up demand for London Dry Gin.
Old Tom Gin: Old Tom Gin is a sweet gin that was popular throughout the 18th century. It has recently regained popularity as a result of the craft cocktail trend. This gin is frequently used in classic cocktails, such as the Tom Collins. While it is still not a mainstream product, there is an increasing demand for unusual, historically inspired gins, therefore the market is expanding.
Plymouth Gin: Plymouth Gin is known for its slightly earthy, herbal flavor. It is solely made in Plymouth, England. Gin fans and bartenders like its distinct flavor. This sort of gin is becoming increasingly popular in the premium and artisan gin markets. Plymouth Gin is gaining popularity as more people recognize the value of handcrafted spirits.
Others: This category comprises a variety of less common gin varieties and experimental combinations, such as flavored gins and local twists. With the demand for distinctive, innovative spirits growing, the "Others" sector is poised to surge, propelled by the rise of craft gin and the customisation trend with botanicals and tastes.

By Application

Based on application, the global gin market can be categorized into On-Trade and Off-Trade.

On-Trade: The On-Trade industry sells gin at bars, restaurants, clubs, and other venues where people drink it. This segment of the market remains quite crucial for gin sales. People still enjoy gin-based cocktails such as Gin & Tonic and Negroni. The popularity of premium and craft drinks is expanding this market segment.
Off-Trade: The Off-Trade sector sells gin in places like supermarkets, liquor stores, and online. People buy it there to drink at home. This part of the market has grown fast because more people are buying alcohol online and are interested in premium and craft gin. Drinking at home is convenient, and people want high-quality gin, which helps this part of the market grow.

MARKET DYNAMICS

Market dynamics include driving and restraining factors, opportunities and challenges stating the market conditions.

Driving Factors

”Growing Consumer Demand for Premium and Craft Gin”

The global gin market is booming, driven by a thirst for premium and craft gins. Consumers, in search of unique, top-quality products, have taken to artisanal and small-batch brands. The craft cocktail trend has fueled this shift, with individuals choosing personalized cocktails and specialized spirits. Gin's adaptability in cocktails and its variety of flavors captivate all, from young adults to seasoned aficionados. This focus on quality has inspired renowned brands to introduce fresh variations, pushing the market's growth further.

Restraining Factor

”Regulatory Challenges and Taxation Policies”

Although the gin market is booming, it faces some hurdles. One big challenge is the changing rules in different places. Governments are tightening the screws on alcohol production, labeling, and marketing, which can mess up distribution and make some products harder to get. Plus, higher taxes on booze, especially in strict alcohol regions, can cramp consumers' style and cut demand. These rules can jack up production costs for makers, possibly driving up prices and cutting consumption in some markets. Getting around these tricky legal systems is a big obstacle for producers aiming to grow their slice of the pie.

Opportunity

”Rising Popularity of Flavored Gins”

A golden chance in the gin market lies in the growing taste for flavored gins. As folks seek out more varied and unique drinking thrills, gins infused with botanicals like lavender, elderflower, and citrus have become super popular. This shift is especially evident in the craft spirits world, where small distilleries are crafting bespoke and experimental blends. Flavored gins let brands reach a broader crowd, like millennials and women who favor lighter, more refreshing sips. Plus, the rising interest in wellness and natural stuff has pushed producers to try new botanical flavors, making flavored gins a premium segment with plenty of room to grow.

Challenge

”Intense Competition and Market Saturation”

A major hurdle in the gin market is the fierce competition and saturation, especially in the premium and craft gin areas. Loads of brands are jumping in, along with local distilleries, leaving consumers spoiled for choice. With so many rivals, it's tough for individual brands to shine and win customer loyalty. Plus, price wars in this packed market can squeeze profit margins, hitting smaller distilleries hardest since they lack the scale of bigger brands. To keep up, gin brands must innovate, stand out, and market smartly to carve their own niche in this tough terrain.

GIN MARKET REGIONAL INSIGHTS

North America

The gin market in North America has steadily grown in recent years. Demand for craft spirits and premium drinks is on the rise. US and Canadian consumers are experimenting more with flavors, seeking artisanal gins. Craft distilleries have diversified gin offerings with unique botanicals. Mixology and cocktail culture boost high-quality gin demand in bars. Consumers prefer sustainable, organic options, aware of gin's origins and processes. Key players include local craft distilleries and international brands.

Europe

Europe leads the gin market, rooted in gin traditions especially in the UK, Spain, and Netherlands. The UK spearheads the global gin revival, seeing a surge in premium, craft, and flavored gins. Spain is renowned for its gin & tonic culture. European consumers increasingly seek high-quality, innovative gins, driving the market. Flavored and artisanal gins gain popularity, with new varieties boosting demand. Despite challenges like regulations and taxes, Europe's gin market evolves, led by innovation and premium offerings.

Asia

Asia's gin market is still young but growing fast, especially in Japan, China, and India. Japan, famous for its whiskey love, has also fallen for gin, with its distilleries earning worldwide praise for their unique blend of botanicals and craftsmanship. China and India are catching the gin bug too, as their middle classes grow and people start favoring premium and international drinks. Younger crowds are particularly fond of it. Imports and premium gins, especially those with flavors, are flying off the shelves as cities expand and cocktail culture spreads. South Korea and Singapore are also becoming gin hotspots, thanks to the rise of craft cocktails and bars. As the market evolves, gin looks set to become a big hit across Asia.

KEY INDUSTRY PLAYERS

”Competitive Landscape of the Gin Market”

The global gin market is fiercely competitive, with big names like Diageo Plc, William Grant & Sons Ltd., and Bacardi Limited leading the way thanks to their strong brands and vast networks. Pernod Ricard and Suntory Holdings Limited also rule the roost, thanks to smart buys, powerful marketing, and fresh products. New kids on the block, like Southwestern Distillery and The Poshmakers Ltd., are growing in popularity by tapping into the craft and premium gin craze. Lucas Bols and The East India Company Ltd. offer unique, top-notch gins that match evolving tastes. Regional stars, like Ginebra San Miguel Inc. and San Miguel Corporation, stay strong by keeping prices low and being close to home. Trends like sustainable, organic gin, and premiumization are shaping the market, creating both chances and hurdles for firms aiming to boost or broaden their reach.

List of Top Gin Companies

Diageo Plc
William Grant & Sons Ltd.
Bacardi Limited
Pernod Ricard
Suntory Holdings Limited
Davide Campari-Milano N.V.
Remy Cointreau
San Miguel Corporation
Lucas Bols
The East India Company Ltd.
Ginebra San Miguel Inc.
Southwestern Distillery
The Poshmakers Ltd.
West End Drinks Ltd.
Boudier Gabriel Ets SA
The Sustainable Spirit Co. (U.K.)
The Black Bottle Distillery
Langtons Gin Ltd.

KEY INDUSTRY DEVELOPMENTS

August 2020: Diageo spent up to $610 million to buy Aviation American Gin, making it the biggest deal since they got Casamigos in 2017. With this, Diageo bolstered its top-shelf spirits range and boosted its spot in the fast-growing gin world.

October 2023: William Grant & Sons announced the full acquisition of Silent Pool Distillers, a high-end gin producer located in Surrey Hills, UK. This acquisition enables William Grant & Sons to expand its brand presence in key regions including travel retail, Europe, North America, and the Asia-Pacific market.

April 2022: Bacardi's Bombay Sapphire gin introduced Citron Presse, a lemony taste from the Mediterranean. The plan is to take this fresh gin to big markets like Australia, Spain, and Ireland, meeting the rising hunger for flavored gins.

March 2019: Pernod Ricard bought up the last bits of Monkey 47, a fancy gin brand. This move made them even stronger in the high-end gin world and added to their top-shelf brand collection.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The gin market is booming, thanks to people's growing love for top-notch and craft spirits. Cocktail culture, especially among younger folks, has sparked a hunger for all sorts of gins—flavored, handmade, and small-batch. Plus, folks are mixing drinks at home more, choosing quality spirits to craft their own cocktails. With this, the high-end gin world is set to keep growing. Many players are investing in new products and spreading out to different regions.

The gin market looks set to keep growing nicely, backed by the ongoing love for top-shelf spirits and rising global drinking. People who care about the planet and their health will likely push up demand for sustainable, organic, and lighter gins. But, the fight for market space will heat up, with big brands and small craft distillers both trying to get a slice. The gin world's future will be shaped by changing tastes, new rules, and a push for greener, newer ways of making gin.