Since 2012, the gin market in Sweden has seen a steady increase in value, climbing from 8.5 million Euros to 17.8 million Euros by 2022. The market is characterized by notable year-on-year growth, peaking in 2015 with a 17.96% increase and more modest surges thereafter. Over the past five years, the Compound Annual Growth Rate (CAGR) averaged 7.06%, with the highest annual jump observed in 2020 at 19.34%. In the last two years, the market growth has decelerated, reflected in a lower year-on-year increase of 5.71% in 2021 and 1.64% in 2022, indicating some stabilization in market values.
Looking ahead, upcoming trends to watch include:
- An increased demand for premium and craft gin as consumer preferences evolve.
- Possible market saturation given the slower growth observed in 2022.
- Expansion of gin varieties infused with local Swedish botanicals appealing to a global market.
- Potential impacts of economic conditions on consumer spending habits within the alcoholic beverage sector.
| # | 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% | View data |
| 3 | 3 Sweden | 18,748,000 | 2023 | +3.35% | +7.14% | |
| 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 |
