LONDON, June 17, 2014 /PRNewswire/ --
The gin category can look forward to a positive future, according to new research from just-drinks and The IWSR, in spite of the overall market being flat at 45.3m cases in 2013.
While the sector may appear becalmed, the Global Gin Insights report, released this week, points to an uptick in sales in three of the category's five biggest markets. The US, Spain and the UK are also markets where premium sales predominate.
Global sales at the value end have declined, but this fall obscures the premium growth, the report details. Excluding low-priced gin, volumes were up by 0.3% between 2012 and 2013 to 29.6m cases, with a five-year compound annual growth rate (CAGR) of 0.4% between 2008 and 2013.
Retail sales values (Travel Retail and domestic, including excise duties) rose by almost 6% in 2013 to US$5.85bn in 2013, with the US up 1.5%, the UK by 12% and Spain by 15.3%.
"Gin's major markets are all experiencing solid growth, driven by a premiumisation trend and a host of new brands," the report states. "Although volumes are focused on a relatively small number of countries, a large number of emerging destinations are showing early signs of dynamic growth."
However, the report notes that the category faces two main challenges; to achieve broader category volumes within the established markets, and expand its geographical footprint beyond the big three markets and travel retail.
To that end, a number of other markets, including Portugal, the Netherlands, Switzerland and Japan, are showing "promising signs of growth, mainly off a small base", the report states. Other countries identified as promising are Taiwan, South Korea, Singapore and Australia.
Established in 1999, just-drinks is the online resource for the global beverage industry, publishing around 20 news articles, analysis features and insights every working day. Under the direction of managing editor Olly Wehring, its experienced team of journalists, consultants and analysts provide a unique and comprehensive blend of reports and interpretation of the beverage industry, including key events, trends, interviews and research that are delivered to over 92,000 business executives per month.
Through its drinks industry analysis, research, news and CONSULT bespoke market research service, just-drinks offers insight into wine, beer, spirits, soft drinks, and bottled water industry developments and key supply-chain trends.
For details of how just-drinks is helping decision makers make decisions, visit www.just-drinks.com
About The IWSR
The IWSR is the leading source of analysis on the alcoholic beverage market. The IWSR's database, essential to the industry, quantifies the global market of wine, spirits, beer and RTDs by volume and value, and provides insight into short- and long-term trends. Our data is used by all of the largest multinational wine and spirits companies, as well as many more local companies.
The IWSR's unique methodology allows us to get closer to what is actually consumed and better understand how markets work. The IWSR conducts face-to-face interviews with 1,500 companies in 118 countries each year, with further input from 350 companies. The IWSR tracks overall consumption and trends at brand, quality and category level.
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SOURCE just-drinks.com / The IWSR