Gin Market to Grow by $6.68 Billion, New Study Shows

As published in Technavio’s latest study, the gin market is expected to grow by an impressive $6.68 billion by 2026. (Photo: Aram Diseno)

The gin market size is expected to grow by $6.68 billion during the forecast period of 2021-2026 at a compound annual growth rate (CAGR) of 7.59%, according to a study conducted by global market research firm, Technavio.

This market growth forecast is a result of the expansion of organized retailing, the growing demand in developing countries due to an increase in disposable incomes and the rising demand for premium gin products.

Market participants may experience challenges due to the competition from other spirits categories and the regulations on alcoholic products. According to the report, “market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.”

Technavio has announced its latest market research report titled Global Gin Market 2022-2026. (Photo: Technavio)

Standard gin (products that are not economy, premium or super-premium) will play a big role in the projected market growth. It’s readily available across the world, easy to access and has a wide range of distribution channels.

During the forecast period, 43% of the market’s growth will be of European origin, prompted by the increasing demand for premium and super-premium gin products.

The report also made mention of the increase of online spirit sales as another reason for gin market growth in the coming years.

While you may not be a market participant, you are most likely a gin lover. This expected gin market growth will benefit imbibers as new and exciting gin products across all categories are encouraged to emerge.

The more popular gin becomes across the world as a result of market growth, the more the spirit can be discovered and appreciated. Isn’t it fun to have an old favorite be shared with new friends?

Here at Gin Raiders, we do more than write about current events in gin. We are the only media property reviewing gins and aggregating the scores and reviews of other significant voices in the gin world in one place. If you’re interested in getting a shot of gin in your morning email, sign up for our Deal of the Day newsletter.