Gin bubble shows no sign of bursting
The gin bubble has not burst and growth in the category is in fact growing at an even greater pace, according to the latest WSTA data.
Its latest market report shows that domestically more than 76 million bottles of gin were sold in the last 12 months (to March 2019), worth £2.3 billion. If exports of gin are also included then the total value of the category is just over £3 billion.
The WSTA predicts that, far from slowing down, domestic gin sales will smash the 100 million-bottle barrier within 12 months, while sales overseas will continue to grow.
Its report also shows that total UK spirits sales last year were worth over £11 billion, with around 400 million bottles sold, meaning that one in every five bottles of spirit sold in the UK last year was gin.
Sales of gin in supermarkets and shops were worth almost £1 billion, an increase of 43% on the value of gin in March 2018.
Miles Beale, chief executive of the Wine and Spirit Trade Association, said: “It has 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 is now worth more than £3 billion annually.
“Gin’s continued domestic popularity, and the growth in the spirits category overall, has no doubt been helped by the decision to freeze duty on spirits in the last Budget. We need further supportive action from the Government as we approach Budget time once more.
“Looking at the popularity of British gin overseas is also cause for celebration. £350 million, 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.
“Drinkers here in the UK and overseas have never had such a wide array of British gins to choose from, and we have seen a huge increase in the choices of pink and flavoured gins available, too.”