Norway: Gin And Geneva Market 2024

Gin And Geneva Market Size in Norway

In 2022, the Norwegian gin and geneva market decreased by -29.3% to $X, falling for the second year in a row after three years of growth. Overall, consumption continues to indicate a mild curtailment. Over the period under review, the market attained the maximum level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Gin And Geneva Production in Norway

In value terms, gin and geneva production dropped notably to $X in 2022 estimated in export price. Overall, production faced a precipitous contraction. The pace of growth appeared the most rapid in 2019 when the production volume increased by 54% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Gin And Geneva Exports

Exports from Norway

In 2022, exports of gin and geneva from Norway skyrocketed to X litres, growing by 79% against 2021 figures. Overall, exports showed resilient growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, gin and geneva exports surged to $X in 2022. Over the period under review, exports posted a significant increase. The growth pace was the most rapid in 2018 with an increase of 121%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

The United States (X litres), Germany (X litres) and Sweden (X litres) were the main destinations of gin and geneva exports from Norway, with a combined 81% share of total exports.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +165.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Sweden ($X) and the United States ($X) constituted the largest markets for gin and geneva exported from Norway worldwide, together accounting for 73% of total exports.

The United States, with a CAGR of +133.8%, saw the highest growth rate of the value of exports, among the main countries of destination 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, reducing by -10.4% against the previous year. In general, the export price, however, saw a strong increase. The most prominent rate of growth was recorded in 2018 when the average export price increased by 53% against the previous year. The export price peaked at $X per litre in 2021, and then shrank in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Switzerland ($X per litre), while the average price for exports to the United States ($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 Netherlands (+14.6%), while the prices for the other major destinations experienced more modest paces of growth.

Gin And Geneva Imports

Imports into Norway

In 2022, approx. X litres of gin and geneva were imported into Norway; increasing by 11% on the year before. Overall, total imports indicated notable growth from 2012 to 2022: its volume increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +50.0% against 2012 indices. The most prominent rate of growth was recorded in 2020 with an increase of 27%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.

In value terms, gin and geneva imports soared to $X in 2022. The total import value increased at an average annual rate of +2.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, the UK (X litres) constituted the largest gin and geneva supplier to Norway, with a 78% share of total imports. Moreover, gin and geneva imports from the UK exceeded the figures recorded by the second-largest supplier, Finland (X litres), more than tenfold. The third position in this ranking was taken by France (X litres), with a 4.4% share.

From 2012 to 2022, the average annual growth rate of volume from the UK totaled +2.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Finland (+22.0% per year) and France (+28.9% per year).

In value terms, the UK ($X) constituted the largest supplier of gin and geneva to Norway, comprising 72% of total imports. The second position in the ranking was taken by Germany ($X), with an 8.3% share of total imports. It was followed by France, with a 5.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the UK was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+55.1% per year) and France (+28.0% per year).

Import Prices by Country

The average gin and geneva import price stood at $X per litre in 2022, increasing by 9.7% against the previous year. In general, the import price, however, saw a slight decrease. Over the period under review, average import prices reached the maximum at $X per litre in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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 Germany ($X per litre), while the price for Finland ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+1.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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