This category of spirits is experiencing a huge revival thanks to the growth of cocktail culture and the worldwide popularity of gin and tonic. There is a renewed consumer appetite for high-quality, artisanal gins. Thankfully new pack of premium brands has emerged, each with its own innovative style, to meet this desire.
New generations of consumers are on the hunt for new experiences: the more unusual the better; regardless of the price.
Consumers these days are also not just buying a product, but a lifestyle itself. They want to know the details about where products are made in order to affirm that they are drinking a distinctive, quality product. The mantra for millennials today is to "drink less but better.”
As Kathleen Davies, founder of Australian craft spirit distributor Nip of Courage, told the newspaper The Australian: "The boom is driven by Generation Y [millennials]. They are the most curious consumers — they want to know who is making their gin and what ingredients are used. On social media, people are always asking us: “Why is such-and-such ingredient used and what's the best way to drink it?"
Curiosity about spirits, once mostly prevalent in the U.S., has now swept across many new markets including Europe, Latin America and the Caribbean, Asia and Australasia. With a growth of nearly 20% per year between 2014 and 2018, this juniper-based spirit aims to hold a market share of 6.5% in the premium spirits segment by 2023, according to drinks data analyst ISWR.
