Big gin makers double sales, take fight to small peers
gin brands owned by large companies regained market share in 2022 after small handmade batches of local brands, especially from Goa, stirred up the segment over the past three years. While most brands, big and small, increased sales in double digits, Bombay Sapphire, Jaisalmer, Beefeater and Big Ben more than doubled their sales, outpacing craft gin brands, according to the latest IWSR Drinks Market Analysis report sourced from industry executives. At the same time, newer entrants, including Samsara, Hapusa and Stranger & Sons, increased sales 50-70 per cent.
«While startups surely helped in popularising the gin category, consumers turned to established companies which have better infrastructure, production capabilities and quality control,» said Amar Sinha, chief operating officer, Radico Khaitan. Sales of Radio Khaitan's Jaisalmer brand surged 400 per cent in 2022. Last week, the company launched a new semi-premium gin, Happiness in a Bottle, to capitalise on the growing demand for the white spirit.
«We had to triple our production capacity due to increased demand,» said Sinha. Bombay Sapphire gin, owned by Bacardi, saw sales growth of 196 per cent in 2022, outselling Greater Than a year after losing its pole position to one of India's first artisanal gin brands. Mainstream companies too have entered the space either by acquiring startups or launching their own gin brand.
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