In the UK, the gin market is booming with record breaking numbers of sales and exportations. Over the past year, gin sales increased by 38% and the gin category has reached the £1.6 billion mark. Also, gin now accounts for 68% of the value growth in the spirits category in Britain.
Gin has been very popular among British consumers, but not only: £532 million worth of British gin has been exported all around the globe over the same period.
However, according to the Wine and Spirit Trade Association, this success story is threatened by the 3.4% duty rise that Chancellor Philip Hammond planned in his autumn budget statement.
The rise of the sales has given British gin distillers the opportunity to invest in their business and to create more employment, boosting the economy. WSTA chief executive Miles Beale stated that at this rate, a £3 billion gin empire could be expected by the end of 2020.
To prevent this measure from stopping the impressive sales growth, the WSTA is asking Philip Hammond to freeze duty this year.
Don’t drink and drive. Enjoy responsibly.