Italy: Gin And Geneva Market 2024

Gin And Geneva Market Size in Italy

The Italian gin and geneva market skyrocketed to $X in 2022, picking up by 52% against the previous year. Overall, consumption continues to indicate a significant increase. Over the period under review, the market reached the peak level in 2022 and is expected to retain growth in the near future.

Gin And Geneva Production in Italy

In value terms, gin and geneva production stood at $X in 2022 estimated in export price. In general, production, however, enjoyed strong growth. The most prominent rate of growth was recorded in 2019 with an increase of 434% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Gin And Geneva Exports

Exports from Italy

In 2022, exports of gin and geneva from Italy soared to X litres, picking up by 26% against 2021 figures. In general, exports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 71% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, gin and geneva exports surged to $X in 2022. Overall, exports showed a significant expansion. The pace of growth appeared the most rapid in 2014 when exports increased by 110%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in years to come.

Exports by Country

The UK (X litres), Australia (X litres) and France (X litres) were the main destinations of gin and geneva exports from Italy, with a combined 18% share of total exports. These countries were followed by the United States, Germany, the United Arab Emirates, Spain, Denmark, Croatia, the Netherlands, Bulgaria, Romania and Turkey, which together accounted for a further 36%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Romania (with a CAGR of +220.8%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the UK ($X) and Australia ($X) constituted the largest markets for gin and geneva exported from Italy worldwide, with a combined 18% share of total exports. These countries were followed by Spain, the United States, France, the United Arab Emirates, Croatia, Bulgaria, the Netherlands, Denmark, Romania and Turkey, which together accounted for a further 36%.

Among the main countries of destination, Romania, with a CAGR of +217.5%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average gin and geneva export price stood at $X per litre in 2022, dropping by -3.9% against the previous year. Over the period under review, the export price, however, saw prominent growth. The pace of growth was the most pronounced in 2014 an increase of 58% against the previous year. Over the period under review, the average export prices hit record highs at $X per litre in 2021, and then dropped in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Spain ($X per litre), while the average price for exports to Turkey ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+13.3%), while the prices for the other major destinations experienced more modest paces of growth.

Gin And Geneva Imports

Imports into Italy

In 2022, purchases abroad of gin and geneva increased by 74% to X litres, rising for the second consecutive year after two years of decline. In general, imports enjoyed a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, gin and geneva imports soared to $X in 2022. Over the period under review, imports posted a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 73% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, the UK (X litres) constituted the largest supplier of gin and geneva to Italy, with a 70% share of total imports. Moreover, gin and geneva imports from the UK exceeded the figures recorded by the second-largest supplier, Spain (X litres), sevenfold. France (X litres) ranked third in terms of total imports with an 8.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the UK stood at +27.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+32.3% per year) and France (+57.6% per year).

In value terms, the UK ($X) constituted the largest supplier of gin and geneva to Italy, comprising 64% of total imports. The second position in the ranking was held by Spain ($X), with a 17% share of total imports. It was followed by the Netherlands, with a 5.1% share.

From 2012 to 2022, the average annual growth rate of value from the UK stood at +37.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+45.0% per year) and the Netherlands (+1.4% per year).

Import Prices by Country

In 2022, the average gin and geneva import price amounted to $X per litre, waning by -2.2% against the previous year. Overall, import price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, gin and geneva import price increased by +57.8% against 2016 indices. The pace of growth was the most pronounced in 2015 when the average import price increased by 23%. Over the period under review, average import prices hit record highs at $X per litre in 2021, and then contracted slightly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Spain ($X per litre), while the price for France ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+9.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :