Gin And Geneva Market

The global gin and geneva market is forecasted to see steady growth, with consumption expected to increase over the next eight years. The market volume is projected to reach 789M litres and value to $5.6B by 2030. The article analyzes consumption trends, production data, import and export figures. The highest-consuming countries and top importers and exporters of gin and geneva are also highlighted, along with trends in prices and growth rates in various regions.

Market Forecast

Driven by increasing demand for gin and geneva worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +3.9% for the period from 2022 to 2030, which is projected to bring the market volume to 789M litres by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +6.1% for the period from 2022 to 2030, which is projected to bring the market value to $5.6B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Gin And Geneva

In 2022, consumption of gin and geneva decreased by -1.3% to 581M litres, falling for the third consecutive year after two years of growth. In general, the total consumption indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -3.6% against 2019 indices. Over the period under review, global consumption attained the maximum volume at 603M litres in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

The global gin and geneva market revenue expanded rapidly to $3.5B in 2022, increasing by 6.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +6.6% against 2019 indices. Over the period under review, the global market attained the peak level in 2022 and is likely to see gradual growth in years to come.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were the United States (84M litres), India (59M litres) and Japan (39M litres), with a combined 31% share of global consumption. Russia, Nigeria, the UK, Spain, Ethiopia, South Korea, Iran, Canada, Thailand and Australia lagged somewhat behind, together comprising a further 30%.

From 2012 to 2022, the biggest increases were recorded for Nigeria (with a CAGR of +15.2%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($544M) led the market, alone. The second position in the ranking was taken by Japan ($257M). It was followed by Spain.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States amounted to +12.3%. The remaining consuming countries recorded the following average annual rates of market growth: Japan (+9.8% per year) and Spain (-2.6% per year).

The countries with the highest levels of gin and geneva per capita consumption in 2022 were Australia (416 litres per 1000 persons), Spain (390 litres per 1000 persons) and Canada (346 litres per 1000 persons).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by Nigeria (with a CAGR of +12.3%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Gin And Geneva

In 2022, after two years of decline, there was significant growth in production of gin and geneva, when its volume increased by 6.5% to 624M litres. Overall, the total production indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 20%. Over the period under review, global production reached the maximum volume at 626M litres in 2019; however, from 2020 to 2022, production remained at a lower figure.

In value terms, gin and geneva production amounted to $3.3B in 2022 estimated in export price. In general, production enjoyed a prominent increase. The most prominent rate of growth was recorded in 2018 when the production volume increased by 17% against the previous year. Over the period under review, global production hit record highs in 2022 and is expected to retain growth in the near future.

Production By Country

The UK (201M litres) constituted the country with the largest volume of gin and geneva production, accounting for 32% of total volume. Moreover, gin and geneva production in the UK exceeded the figures recorded by the second-largest producer, India (58M litres), threefold. The United States (51M litres) ranked third in terms of total production with an 8.2% share.

In the UK, gin and geneva production expanded at an average annual rate of +7.0% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: India (+6.3% per year) and the United States (+25.9% per year).

Imports

World Imports of Gin And Geneva

Global gin and geneva imports reduced to 229M litres in 2022, falling by -14.1% against 2021. Over the period under review, total imports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +22.4% against 2014 indices. The growth pace was the most rapid in 2014 with an increase of 30% against the previous year. Global imports peaked at 267M litres in 2021, and then dropped in the following year.

In value terms, gin and geneva imports surged to $1.9B in 2022. Overall, imports, however, recorded prominent growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports By Country

In 2022, the United States (45M litres), distantly followed by Spain (12M litres) represented the main importers of gin and geneva, together generating 25% of total imports. Germany (9.7M litres), Italy (9.6M litres), Brazil (9.6M litres), Australia (7M litres), Canada (6.8M litres), the Netherlands (6.6M litres), the UK (6.1M litres), Ghana (5.8M litres), the United Arab Emirates (5.4M litres), Turkey (4.1M litres) and France (4.1M litres) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to gin and geneva imports into the United States stood at +5.0%. At the same time, Brazil (+61.4%), Ghana (+36.8%), Turkey (+25.9%), the UK (+18.5%), Canada (+13.8%), the United Arab Emirates (+12.3%), Italy (+8.5%), Australia (+6.0%), the Netherlands (+4.2%) and Germany (+1.5%) displayed positive paces of growth. Moreover, Brazil emerged as the fastest-growing importer imported in the world, with a CAGR of +61.4% from 2012-2022. France experienced a relatively flat trend pattern. By contrast, Spain (-5.4%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Brazil, Ghana, the UK and Canada increased by +4.1, +2.3, +1.8 and +1.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($418M) constitutes the largest market for imported gin and geneva worldwide, comprising 22% of global imports. The second position in the ranking was taken by Italy ($178M), with a 9.2% share of global imports. It was followed by Spain, with an 8.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States stood at +3.8%. In the other countries, the average annual rates were as follows: Italy (+28.4% per year) and Spain (-1.3% per year).

Import Prices By Country

In 2022, the average gin and geneva import price amounted to $8.4 per litre, rising by 42% against the previous year. Over the last decade, it increased at an average annual rate of +2.8%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Italy ($19 per litre), while Ghana ($1.6 per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+18.3%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Gin And Geneva

In 2022, approx. 272M litres of gin and geneva were exported worldwide; picking up by 3% against the previous year. In general, total exports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +7.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +12.8% against 2020 indices. The pace of growth appeared the most rapid in 2018 with an increase of 15%. Over the period under review, the global exports hit record highs at 282M litres in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, gin and geneva exports surged to $1.8B in 2022. Over the period under review, exports saw a remarkable increase. The growth pace was the most rapid in 2018 with an increase of 44% against the previous year. Over the period under review, the global exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports By Country

The UK prevails in exports structure, amounting to 187M litres, which was approx. 69% of total exports in 2022. The following exporters - the United States (12M litres), Germany (7.6M litres), Spain (6M litres), Japan (5.8M litres), France (5.4M litres), Belgium (4.9M litres), the Netherlands (4.7M litres) and Italy (4.4M litres) - together made up 19% of total exports.

From 2012 to 2022, average annual rates of growth with regard to gin and geneva exports from the UK stood at +7.5%. At the same time, Japan (+193.4%), Italy (+23.8%), the United States (+17.9%), Belgium (+14.0%), Spain (+11.6%) and the Netherlands (+5.6%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing exporter exported in the world, with a CAGR of +193.4% from 2012-2022. France experienced a relatively flat trend pattern. By contrast, Germany (-2.9%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United States, Japan and the UK increased by +2.7, +2.1 and +1.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the UK ($901M) remains the largest gin and geneva supplier worldwide, comprising 50% of global exports. The second position in the ranking was held by the Netherlands ($124M), with a 6.9% share of global exports. It was followed by Germany, with a 6.7% share.

From 2012 to 2022, the average annual growth rate of value in the UK amounted to +4.7%. In the other countries, the average annual rates were as follows: the Netherlands (+19.9% per year) and Germany (+10.2% per year).

Export Prices By Country

In 2022, the average gin and geneva export price amounted to $6.6 per litre, rising by 19% against the previous year. Over the last decade, it increased at an average annual rate of +1.6%. The pace of growth appeared the most rapid in 2018 when the average export price increased by 25%. Over the period under review, the average export prices reached the maximum in 2022 and is likely to continue growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($26 per litre), while the UK ($4.8 per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+18.8%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform