The gin supplier revenues in the US have shown modest growth with some fluctuations over the past decade. Specifically, the value for 2023 stood at 900 million USD. From 2013 to 2023, there was a mix of declines and upticks: the years 2016 and 2017 saw over 2% year-on-year growths, while 2013 and 2015 experienced declines close to 1%. Between 2022 and 2023, the increment was steady at 0.22%. The Compound Annual Growth Rate (CAGR) over the last five years (2019-2023) depicts an average annual growth of 0.22%.
Looking forward, the forecast from 2024 to 2028 suggests a continued moderate growth. With a forecasted CAGR of 0.15% and a total growth rate of 0.78% over the next five years, the market is expected to remain relatively stable.
Future trends to watch for may include shifts in consumer preferences towards premium or flavored gins, increased competition from other spirit categories, and potential impacts from economic conditions or new regulations impacting alcohol sales.
