The global gin market is expected to post a CAGR of over 3% during the period 2018-2022, according to the latest market research report by Technavio
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Technavio has announced its latest market research report titled global gin market 2018-2022. (Graphic: Business Wire)
A key factor driving the growth of the market is the expansion of organized retailing. Organized retailers have grown across the world with the establishment of supermarkets, hypermarkets, and specialty stores. Supermarkets constitute a major distribution channel that makes food and beverages easily accessible to consumers. The demand for supermarkets is growing due to the rise in population. Therefore, due to such factors, the market for gin is expected to showcase a positive outlook during the forecast period.
As per Technavio, the rising influence of online retailing will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global gin market 2018-2022research report also analyzes other important trends and market drivers that will affect market growth over 2018-2022.
Global Gin Market: Rising Influence of Online Retailing
The rise of e-commerce businesses globally has paved the way for gin vendors to improve their profitability. This is primarily due to high customer preference for online shopping driven by the convenience of card payments and elimination of time-consuming journeys and billing queues. This trend is compelling manufacturers to focus on the internet-savvy customer segment and set up new online retail formats.
"Online shopping portals have incorporated enhanced security features along with customer-friendly website designs that provide efficient customer service, secure payment options, and enhanced product visibility. This trend is encouraging various manufacturers to concentrate on the internet-savvy customer segment and explore the new online retail format. This mode of business will assist vendors in saving operating costs and overheads that are comparatively lower in the online retail format when compared with the physical store format," says a senior analyst at Technavio.
Global Gin Market: Segmentation Analysis
This market research report segments the global gin market by product (standard gin, economy gin, premium gin, and super premium gin) and geography (Americas, APAC, and EMEA).
The EMEA region accounted for the largest gin market share in 2017, followed by the Americas and APAC respectively. The EMEA region is expected to maintain its dominance over the global market and register the highest incremental growth during the forecast period.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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