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CHEMICALS AND ADVANCED MATERIALS

Gin Market Analysis by Standard (Economy, Premium, and Luxury); by Product Type (London, Old Tom, Plymouth, and Others); and by Distribution Channel (On-Trade and Off-Trade) – Global Supply & Demand Analysis & Opportunity Outlook 2022-2031

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • July 15, 2022: Diageo plc to invest about USD 200 million to construct the very first brewery that is purpose-built carbon neutral. Diageo plc plans to build this brewery in Littelconnell, Newbridge, Co. Kildare site to brew lagers and ales along with Kilkenny, Carlsberg, and Hop House, with the capacity of 2 million hectoliters.

  • June 13, 2022: The Brown–Forman Corporation merge its path with the Coca-Cola Company to develop and launch the iconic Jack & Coke cocktail, a ready-to-drink (RTD), in the form of a pre-mixed cocktail option. This cocktail is inspired by the classic bar cocktail.

Global Gin Market Size, Forecast, and Trend Highlights Over 2022 - 2031

Gin Market Forecast

The global gin market is estimated to garner robust revenue by the end of 2031 by growing at a CAGR of ~5% over the forecast period, i.e., 2022 – 2031. Further, the market generated significant revenue in the year 2021. The growth of the market can primarily be attributed to the escalating urban population across the globe. For instance, the global urban population reached around 4 billion in 2018 which was an increase from about 700 million in 1950.

Gin Market Regional Overview

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Gin is known as a distilled alcoholic drink that is made out of juniper berries. It also offers a predominant juniper flavor and herbal note since around 8 herbs are utilized to produce gin. Global gin market trends such as rising consumption of gin and developing bar and cocktail culture are anticipated to drive the growth of the market over the forecast period. The per person volume in the gin segment was projected to be about 0.08 liters. Furthermore, in the alcohol industry, the gin segment was valued at approximately USD 10 billion in 2022. Therefore, such factors are anticipated to foster the growth of the market over the forecast period.

Global Gin Market: Growth Drivers and Challenges

Growth Drivers

  • Rising Consumption of Alcohol to Boost the Market Growth - As of 2020, the total sale of alcoholic beverages in the USA was projected to be around USD 200 billion.
  • Growth in Disposable Income - The disposable income of the OECD countries amounted to approximately 50,000 U.S. dollars per capita in 2019.
  • Rising Inclination Toward Bar and Cocktail Culture For Instance, in 2022, the number of bars & nightclubs projected in the United States was around 70,000. In the modern era, people are more inclined to visit bars and nightclubs. In this workaholic generation, bar and cocktail culture are more prevalent than ever. A significant amount of one’s salary is spent on such recreational activities. Hence, such prevalence of bars is estimated to propel the growth of the market over the forecast period.
  • Escalating Demand for Gin in Food and Beverages - In 2020, the food and beverages industry of India was valued at nearly USD 45 billion.

Challenges

  • Requirement for Higher Initial Investment
  • Government Initiatives Regarding the Sales and Production of Gin
  • Negative Health Issues Associated with Gin Consumption

The global gin market is segmented and analyzed for demand and supply by distribution channel into on-trade and off-trade, out of which, the off-trade segment is estimated to witness noteworthy growth over the forecast period. The growth of the segment is ascribed to the changing perception of people toward social drinking. As of 2021, in the United States sales of ready-to-drink alcoholic beverages increase by nearly 15% on the off-trade channels. Additionally, beer sales through off-trade sales reached approximately 80% in Germany.

Major Macro-Economic Indicators Impacting the Market Growth

Gin Market Economic

The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, the Chemical industry in the U.S. accounted for 16.43% of manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in the future. According to UNEP (United Nations Environment Programme), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, which accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. The easy availability of low-cost raw materials & labor, as well as government subsidies and relaxed environmental norms, have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for investment in businesses in Asia Pacific countries in the upcoming years.

Global Gin Market Regional Synopsis

Regionally, the global gin market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in the North America region is projected to hold the largest market share by the end of 2031. The region is projected to witness remarkable growth on the back of higher consumption and production of alcoholic beverages during the forecast period. In 2020, alcohol consumption in the United States reached around 2 gallons of ethanol per capita. Similarly, the higher export and import of gin in North America is further anticipated to fuel the market growth over the forecast period. For instance, approximately 9 million gallons of gin were imported into the USA in 2020 and the export volume was projected to be nearly 1 million gallons in a similar year. Hence, all these factors are anticipated to hike the growth of the market in the region over the forecast period.

Gin Market Share

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The global gin market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global gin market includes the following segments:

By Standard

  • Economy
  • Premium
  • Luxury

 

By Product Type

  • London
  • Old Tom
  • Plymouth
  • Others

By Distribution

  • On-Trade
  • Off-Trade

 

Top Featured Companies Dominating the Global Gin Market

  • Diageo plc
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Lucas Bols N.V.
  • William Grant & Sons Limited 
  • Remy Cointreau
  • Bacardi Limited
  • Davide Campari-Milano N.V.
  • The Brown–Forman Corporation
  • Pernod Ricard SA
  • Heineken N.V.
  • Bacardi Limited

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