The Thirst For Premium Gin Is High, And So Are Sales

A staggering 402 new gin brands have entered the spirits market since May 2016, 367 of which are premium brands.

Gin sales produced about $2.89 million in the United States in 2019, according to Statisa. Gin consumption in 2018 grew faster than any other spirit or alcoholic beverage, according to Fortune. The market is expected to continue to grow another 1.5% by 2023.

“Focusing on the craft and quality aspect of gin will encourage consumers to trade-up to buy better quality gin as a special treat for themselves,” William Grant & Sons predicted in a statement. William Grant sells Hendrick’s Gin.

While the thirst for premium gin is high, brands are still working to ensure their brand stands out. They’re experimenting with everything from flavors to colors to ensure it does.

Read more on Dimensional Insight’s Blog.