New £2 billion record for UK gin sales
UK gin sales and exports have passed the £2 billion (US$2.6bn) barrier for the first time, according to the Wine and Spirit Trade Association (WSTA).
UK gin sales and exports exceed £2 billion for the first time
The latest WSTA market report shows that British consumers purchased more than 60 million bottles of gin in the 12 months to June 2018. Sales in the UK were worth more than £1.6bn (US$2.1bn) – up 38% year on year.
Combined yearly gin sales 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 £1bn.
In the last 12 months, British gin exports reached £532m. Gin is outperforming any other spirit in terms of sales growth in the UK, according to the WSTA. It now accounts for 68% value growth across spirits.
Miles Beale, chief executive of the WSTA, 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.
The WSTA is urging the chancellor to freeze alcohol duty again in this year’s autumn Budget, like last year, which generated an additional £67 million for the Treasury in four months, according to Her Majesty’s Revenue & Customs (HMRC).