Premium gins are known for their refreshing taste and serve as an ideal base for cocktails. The rising number of craft distilleries in the country offering innovative gin varieties is driving the market growth. In addition, the growing culture of premium cocktails and mixology among urban consumers is fueling the demand for premium gins. The global India Gin Market is estimated to be valued at US$ 546.03 Bn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing demand for premium and craft g\ins among Indian consumers is one of the major trends in the India gin market. Premiumization has become an ongoing trend especially among urban Indian consumers who are willing to pay more for finer quality spirits produced using traditional methods. Many craft distilleries are innovating with different botanicals beyond the conventional juniper to develop unique gin flavors. The introduction of novel flavors such as Indian spice-infused gins has resonated well with the young Indian patrons. The growing experimentation with botanicals is expected to further fuel the premiumization of gin in India.
Segment Analysis
The Global India Gin Market Size is dominated by London dry gin segment which holds around 35% of the total market share. London dry gin is the most popular style of gin consumed in India. It derived its style from waters of River Thames in London and is usually distilled with a combination of juniper along with other botanicals like coriander, angelica root, citrus peel, and others. The crisp, dry flavor profile of London dry gin makes it the preferred choice for mixing in popular Indian gin cocktails.
Key Takeaways
The global India gin market is expected to witness high growth.
Regional analysis: The Southern region of India dominates the gin market and accounted for over 30% market share in 2024. States like Tamil Nadu, Kerala and Karnataka have witnessed higher consumption of gin in recent years. Cities like Chennai, Kochi and Bangalore have emerged as major gin consumption hubs. Growing popularity of western cocktails and exposure to global drinking trends have boosted gin demand in the Southern states.
Key players operating in the India gin market are Sanofi S.A., Encore Dermatology Inc, AbbieVie Inc., F. Hoffmann-La Roche AG, Novartis AG, Regeneron Pharmaceuticals Inc., Astellas Pharma Inc., Anacor Pharmaceuticals Inc., Meda AB, GlaxoSmithKline plc, AstraZeneca plc, and Pfizer Inc.
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