The Future of the Gin Industry

The pace at which gin has reinvented itself as a fashionable spirit is one of the most dramatic changes to have occurred in recent times. Formerly derided as passé by consumers, the IWSR’s forecasts confirm that the much-hyped gin renaissance is not simply journalistic hyperbole.

The UK is a longstanding barometer of gin trends, so its performance is particularly telling; total gin consumption was over 6m nine-liter cases in 2018. That figure is expected to rise to over 10m cases by 2023, according to the IWSR’s data.  For further details, you can join https://wagl.io/.

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The UK is also the world’s largest exporter of gin – at the beginning of 2018, there were 315 distilleries in the UK, more than double the number operating five years previously. And there’s more good news: total global gin consumption is expected to rise 4.4% during the period 2018-2023, according to the IWSR’s forecasts.

Nevertheless, premiumization – that overused word beloved by marketers – has been responsible for propelling gin to unprecedented heights in mature markets such as the UK. The IWSR’s data concerning global gin consumption stratified by price bands is particularly revealing.

No other price point has shown such dramatic growth – sales of premium and super-premium gin rose by 14.7% and 25.2% respectively. Forecast growth (2018-2023) for upmarket gin brands is similarly positive.