The latest Wine & Spirits Trade Association (WSTA) market report, released to coincide with the trade body’s annual conference today (18 September), shows that gin sales in the UK during the 12 months to the end of June 2018 were worth around £1.6 billion, up 38% on the previous year.
Export sales were £532 million in the same period, according to HMRC figures, bringing the total in at £2.2 billion.
The records show that combined yearly sales of gin in the UK and British gin overseas have doubled in the last five years. In 2013 the total value of gin sales, UK and exports, reached just over £1 billion.
Thanks to a surge in popularity of British gin, which has been dubbed the ‘ginaissance’, gin is out performing any other spirit in terms of growth of sales in the UK. The juniper-based spirit now accounts for a whopping 68% of value growth in the spirits sector.
Miles Beale Chief Executive of the Wine and Spirit Trade Association said:
“Gin has proved itself to be just the tonic for the Government’s ambitions to grow exports of premium British products. On top of that the gin boom in the UK has allowed our talented and innovative British distillers to invest and grow their businesses creating new jobs and boosting the British economy. If gin continues to grow at this rate there’s no reason why the industry can’t set its sights higher, we could be talking about a £3 billion gin empire by the end of 2020.
“But as things stand, instead of supporting this jewel in the crown of the British drinks industry, the Chancellor is set to raise spirits duty at the next Budget. UK consumers already pay some of the highest alcohol prices in Europe. We are calling on Philip Hammond to freeze duty – just as he did last year. Yet again it would be a win/win/win – more money for the Treasury, support for British business, pubs and the cash strapped consumer.”
Don't forget that you can get a taste of some of the best of British gin at our World Trade Summit. Join us for the drinks reception after the event where IOE&IT member and Queen's Awards winner Atom Brands will be mixing up some cocktails for guests to try. It's FREE to attend, just register here
Source: www.wsta.co.uk/press/930-gin-breaks-2-billion-mark-doubling-in-value-in-5-years
