The Gin Market in Slovakia has shown a notable increase over the years, with its value rising from €16.183 million in 2012 to €27.212 million in 2022. The year-on-year growth has varied, with significant increases seen in 2014 (10.88%) and 2020 (10.39%). The five-year Compound Annual Growth Rate (CAGR) reflects the stability and growth of the market with a value of 3.75% for the period leading up to 2022.
In 2023, the market size is expected to have continued its upward trend, given the steady growth observed in recent years. Year-on-year variations over the last two years, with increases of 5.5% and 0.73% in 2021 and 2022 respectively, underscore a more consistent growth pattern, though at a slightly decelerating pace.
Future trends to watch for include the impact of evolving consumer preferences towards premium and craft gins, changing demographic trends, and potential economic fluctuations which may influence discretionary spending. Additionally, the ongoing expansion of distribution channels, both offline and online, will likely play a significant role in shaping the market dynamics.
How does Slovakia rank in Gin Market Size Value?
| # | 5 Countries | Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Italy | 64,351,000 | 2023 | +3.8% | +4.23% | View data |
| 2 | 2 Slovakia | 28,435,000 | 2023 | +2.55% | +4.65% | |
| 3 | 3 Sweden | 18,748,000 | 2023 | +3.35% | +7.14% | View data |
| 4 | 4 Estonia | 8,080,700 | 2023 | +5.74% | +11.48% | View data |
| 5 | 5 Bulgaria | 5,998,500 | 2023 | +1.46% | +1.21% | View data |
