A recent report published by Infinium Global Research on the gin market provides an in-depth analysis of segments and sub-segments in the global as well as regional gin market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional gin market over the short term as well as long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of the global gin market. According to the report, the global gin market is projected to grow at a CAGR of about 5% over the forecast period of 2022-2028.
The global gin market was valued at nearly USD 15 Billion in 2022 and is expected to reach over USD 19 Billion in 2028, with a CAGR of about 5% during the forecast period. Gin is an alcoholic beverage with a fresh and dried fruit botanical, floral, and juniper flavor profile. It is a distilled spirit produced from pure spirits acquired from grain mash, and it ranges in color from translucent to pale yellow. To improve the flavor and texture, it is frequently blended with extra spices like cinnamon, coriander, almond, citrus peel, and licorice. Among the popular gins offered are Plymouth, Old Tom, and London Dry. They are frequently employed in numerous mixtures and mocktails, including negroni, martini, gin, and tonic. Gin is abundant in vitamin C and has anti-inflammatory properties that help to lower the risk of cardiovascular disease, joint pain, and high blood pressure.
One of the major elements contributing to the market's favorable outlook is the general public's growing predilection for alcoholic beverages. During social festive occasions and gatherings, the particularly the millennial population is consuming gin and other premium alcoholic beverages. Additionally, the market growth is being boosted by the food and beverage industry's notable growth. Gin is frequently used in fine-dining establishments to preserve fish, particularly salmon, and in desserts like cakes and pancakes to give customers a distinctive and authentic experience. The introduction of gin in a variety of unusual tastes is also helping the market expand. Another factor propelling the industry is consumers' growing eagerness to experiment with novel goods and flavors that pair well with fruits like strawberries, raspberries, and red currants. Accordingly, the general public's growing preference for premium mixed drinks and handcrafted cocktails are favorably influencing the market's expansion. The market is predicted to develop as a result of a variety of other reasons, such as the rise of craft gin distilleries and the easy availability of products through online stores. However, the high price of gin is anticipated to operate as a barrier to the market's expansion. Moreover, excessive use is linked to a number of health issues like cancer, liver cirrhosis, violence, and accidents, among others, which will hamper the expansion of the market.
North America is predicted to be the fastest-growing region in the gin market by the end of the forecast period, followed by the Asia Pacific region. Due to increased purchasing power and the significant rise of the millennial population in developing nations like China, India, Malaysia, Thailand, and Indonesia, the market in APAC holds a significant share of the market during the forecast period. Profitable opportunities will almost definitely arise in this region due to the immense potential of the underdeveloped marketplaces in these nations. Due to their vast populations, rising alcohol consumption among the younger generation, and rising disposable income, emerging nations have an increased need for alcoholic beverages.
The report on the global gin market covers segments such as type, price point, and distribution channel. On the basis of type, the sub-markets include london dry gin, old tom gin, plymouth gin, and others. On the basis of price point, the sub-markets include standard, premium, and luxury. On the basis of distribution channel, the sub-markets include on-trade, and off-trade.
The report provides profiles of the companies in the market such as Bacardi Ltd, Boudier Gabriel Ets SA, Davide Campari-Milano N.V., Diageo Plc, Ginebra San Miguel Inc., Suntory Holdings Limited, The Sustainable Spirit Co., The Hendrick's Gin Distillery Ltd., Langtons Gin Ltd, and The Poshmakers Ltd.
The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the gin market. Moreover, the study highlights current market trends and provides forecasts from 2022-2028. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings insight into the market share of the leading players.
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