THE RISE AND RISE OF CRAFT GINS
The recent popularity of an uptick in consumption of premium gins is believed to have started in UK around the year 2016. Consumers were seeking for more variety in their gin collection, paying more attention to the botanicals and their origin, and willing to spend more for quality and boutique brands. Consumers were even turning to lesser known premium gins, something that the mainstream gin brands of the world would not be pleased learning about.
As per WSR Drinks Market Analysis, the global gin volume grew by 6.1%, and the global gin value grey by 10.7% in 2019. Gin as a category was the second fastest growing spirits segment in 2019 after non‐alcoholic spirits. This also shows that while people are drinking a lot more gin now, it is the premium gin segment that witnessed maximum growth owing to the fact that people are wanting to try quality gin brands.
Gin in India
What we have noticed is that certain purchase trends initially emerge in the west, and then over a period of 2-3 years they start emerging in India. An impetus to this are the international travellers from India to western countries, who get exposed to these aspirational habits abroad, and then demand such products when they return home. Their consumption preference then further inspires others in Indian metro cities to follow the lead. Hence, somewhere in the year 2018-2019, premium gin consumption started increasing in Indian cities such as Delhi and Mumbai, which is now spreading to other metro and mini metros.
As per ResearchAndMarkets.com, the Indian gin market is projected to grow at a rate of 9% CAGR between 2017-18 to 2022-23. Some popular gin brands of Indian origin include: Greater Than, Hapusa, Stranger & Sons, Terai, Samsara and Gin Gin, and some popular gin brands of foreign origin include: Monkey 47, Hendrick’s, Scapegrace, Caorunn, Tanqueray and Roku.
The gin consumption in India still remains miniscule as compared to the consumption of whiskey and vodka. However, this status quo appears to be shifting in favour of gin. With more users getting knowledgeable about gins and emergence of unique gin brands that foster excitement in buyers, the future of this white spirit looks bright.
Hey y’all! Thanks for visiting PEER and reading this journal. Feel free to share with anyone you think will want to read. And please do let us know at firstname.lastname@example.org if you have any comments or suggestions for future reads. Which is your favourite gin brand and why? As always, we love to hear from you! With the rise of gins, the world is also seeing a rise in premium tonic water brands. Want to know more? Read our next article titled ‘THE RISE OF PREMIUM TONIC WATER BRANDS IN INDIA’.
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