It's going to be Growth, Growth, Growth
Gin’s star isn’t just rising — it’s sparkling, twinkling, and taking center stage in 2024! This year is shaping up to be a blockbuster for gin lovers everywhere, with sales expected to boom in both value and volume. Let’s raise a glass to what’s ahead!
Revenue-wise, the gin market is on fire. Experts predict it’ll hit a jaw-dropping $15.5 billion by year’s end. That’s $10.1 billion from cozy at-home sips and $5.4 billion from out-and-about adventures. Whether you’re mixing a G&T in your kitchen or sipping a fancy cocktail at your favorite rooftop bar, gin is the star of the show.
Now, let’s talk about volume. A whopping 0.8 billion liters of gin are expected to be enjoyed globally this year — enough to fill an Olympic swimming pool… many times over! Most of it will be poured at home (0.7 billion liters), with 57.4 million liters making their way into bars, restaurants, and other hot spots. And with sales forecasted to reach 108.2 million cases, there’s no shortage of juniper joy to go around.
What’s driving this gin-aissance? Premiumization is a biggie. Today’s drinkers want quality, and they’re willing to splash out for artisanal bottles and hand-crafted spirits. Then there’s flavor innovation — exotic botanicals, tropical twists, and Asian-inspired notes are making waves, giving us all something fresh to try. Oh, and let’s not forget the celebrity factor. With stars like Margot Robbie championing gin, it’s no wonder the spirit is basking in the limelight.
So, what does all this mean for 2024? More exciting flavors, more creative cocktails, and more reasons to say “Cheers!” The gin revolution is here, and it’s only getting better. Here’s to a year of ginspiration!
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