Have we reached peak gin?
By Daniel J. McLaughlin
The sales of gin have been booming in recent years, but have they reached their peak?
A record number of bottles of gin were sold in the UK in 2018, breaking £2bn.
However, an analyst has warned that there is a danger of "gin fatigue".
Others argue that the sales will continue to boom with more flavours and distilleries opening.
Business Insider asks whether we have reached peak gin, after a British company's shock share drop is "sparking worries of booze saturation".
Jefferies analyst Edward Mundy warned in a report that UK boozers are reaching "gin fatigue". He said: "We think the gin boom has peaked."
This caused the stock of Fevertree Drinks Plc, a maker of premium tonics and other cocktail mixers, to tumble by 6.3 per cent last week.
The "explosion" in gin flavors and categories may mean that sales will continue to climb - but they will be slower than they have been.
Fortune, however, says that gin sales are booming. They report that global consumption of gin "grew faster than any other beverage alcohol category" last year.
There is an interesting theory behind the gin boom. Brandy Rand, chief operating officer for the Americas for global alcohol-industry tracker IWSR, believes it has to do with the growing plant craze.
She said: "If you look at consumption trends over the past few years, there is a high growth rate in people eating more plants. We have been told it is better for the environment and for our diets."
Fortune explains that with a botanical base, gin has "an herbaceous vibe that fits neatly into the plant craze".
They add: "Gin makers are experimenting with surprising flavors like basil, rhubarb, orange, and cinnamon, and in the process they’re bringing new drinkers into the fold."
A record number of bottles of gin were sold in the UK last year, ITV reports.
According to figures from the Wine and Spirit Trade Association, 73 million bottles of gin were sold in UK supermarkets and shops.
The sales were worth £2.1bn in 2018, and almost doubled between 2016 and 2018.
The sales of gin peaked in March for the past two years, suggesting that it is a popular Mother's Day gift. It is nicknamed "Mother's Ruin", after all.
In the first quarter of 2017, the amount of gin sold reached 6.4m bottles - of which 2.6m (41 per cent) were sold in March. In the same period last year, 52 per cent were sold in March.
According to the Independent, there are now "hundreds of different gin brands to choose from and a total of 361 distilleries making spirits in the UK". They add that 54 distilleries opened in 2018 – the equivalent of one a week.