A spirits trade group has forecast UK gin volumes will jump by almost a third over the next 12 months.
Gin volumes are in line for more increases yet, the WSTA said
Responding today to media reports that gin sales are flagging after years of growth, the Wine and Spirit Trade Association (WSTA) said annual UK domestic gin should break the 100m-bottle barrier by this time next year, a 30% increase on current 12-month rates. According to the most recent 12-month figures, to March, gin volumes for the period were 76m bottles.
Citing the figures to March, the WSTA said the domestic UK gin market is now worth GBP2.3bn (US$2.8bn). Exports were valued at GBP750m in the 12 months to the end of May, according to the UK tax office.
"It's 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's now worth over GBP3bn annually," WSTA chief executive Miles Beale said.
Warren Scott, CEO of Quintessential Brands, said: "The UK may be about to leave the EU, but indications are that we are set to remain in a golden era for quality English gin for some time yet."
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Sectors: Spirits
Companies: UK Wine and Spirit Trade Association
