Despite predictions that the gin bubble may soon burst, latest data suggests the growth of the spirit is actually accelerating.
Figures from the Wine and Spirit Trade Association’s (WSTA) Market Report show that in UK over 76 million bottles of gin were sold in the last 12 months (to March 2019), worth £2.3bn.
Export figures from HMRC show that, in the last 12 months (to May 2019), gin exports from the UK were worth over £700m, putting the total value of the category at just over £3bn.
The WSTA is predicting that, far from slowing down, domestic gin sales will smash the 100 million bottle barrier within 12 months, whilst sales overseas will continue to grow.
WSTA’s Market Report shows total UK spirit sales last year were worth over £11bn, with around 400 million bottles sold – meaning that 1 in every 5 bottles of spirit sold in the UK in the last year was gin.
Sales of gin in supermarkets and shops were worth almost £1bn, an increase of 43% on the value of gin in March 2018.
In pubs, bars and restaurants, gin enjoyed even stronger growth, with a 56% increase on last year’s volume sales – nearly 6 million more bottles were sold in the 12 months to March 2019 than in the 12 months to March 2018.
The WSTA highlighted relentless pace of the spirit’s growth is being driven by Britain’s craft gin producers continuing to innovate and experiment with new brands, flavour profiles and colours.
Miles Beale, Chief Executive of the Wine and Spirit Trade Association, commented: “It’s been another phenomenal 12 months for gin and, despite recent reports suggesting the gin bubble may have burst, our numbers suggest the exact opposite – not only is gin’s popularity here to stay, it’s now worth over £3bn annually.”
He added: “Looking at the popularity of British gin overseas is also cause for celebration. £350m, or around 46% of all British gin exports head to the EU, and so it is imperative that the Government works with the European Union to secure trade that is as seamless in the future as it is now.”
NAM Implications:
- Great growth for those in the gin sub-category…
- Whilst others in Spirits category can only await a switch in taste…
- Meanwhile, possibly taking the innovative craft route, in anticipation…
