LONDON, July 20, 2018 /PRNewswire/ --
The stellar rate of growth in the global gin segment is set to continue, with 19 out of its top 20 global markets predicted to expand sales to 2021, according to the new Global Gin Insights report from just-drinks and The IWSR.
The forecast follows another dynamic year for gin in 2017, during which global sales (excluding low-priced products) rose by 7.4% year-on-year to nearly 35m nine-litre cases. Growth was widespread, with 39 of the top 50 markets posting gains - 19 of them in double digits - and Europe remaining at the centre of the boom.
Spain coasted past 5m cases, with flavoured variants helping to boost momentum, and there were positive performances from the UK, Germany, Italy and France.
"The fundamental trends that led to the recent explosion in premium gin are very much in place, suggesting that growth has further to run, at least in the short term," says the report.
Only the US among the major western markets continues to disappoint, with sales dipping below 10m cases in 2017 on the back of a slight decline.
However, even here there are some signs of life at the premium-and-above end of the market - and, alongside the UK, Spain, South Africa and Global Travel Retail, the US is set to be one of the key growth markets for gin in the years ahead.
Please note - this report contains IWSR 2017 forecast data, figures may vary when the new 2018-2022 data is released later in July 2018.
About the IWSR
The IWSR is the leading source of data and analysis on the alcoholic beverage market. The IWSR's database, essential to the industry, quantifies the global market of wine, spirits, beer, cider and mixed drinks by volume and value in 157 countries, and provides insight into short- and long-term trends, including five-year volume and value forecasts.
The IWSR tracks overall consumption and trends at brand, price segment and category level. Our data is used by the major multinational wine, spirits and beer companies, as well as financial and alcoholic beverage market suppliers. The IWSR's unique methodology allows us to get closer to what is actually consumed and better understand how markets work. Our analysts travel the world in order to meet over 1,600 local professionals to capture market trends and the 'why' behind the numbers.
just-drinks.com is the online news, insight and research portal for the global drinks industry. Our editorial team includes contributors from around the world, while our commentators comprise experts in their respective fields of beer, bottled water, soft drinks, spirits (both brown and white) and wine. Under the direction of managing editor Olly Wehring, we offer an impartial voice and are driven by our passion for the drinks industry.
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SOURCE just-drinks and The IWSR