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Global Rum Market Size, Share, Growth, Trends, Forecast: By Type: White, Gold, Dark, Others; By Category: Plain, Flavoured, Spiced; By Distribution Channel: Off-Trade, On-Trade; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand, Key Indicators of Price; Competitive Landscape; 2024-2032
Global Rum Market Size
The global rum market reached around USD 14.59 billion in 2023. The market is projected to grow at a CAGR of 5.7% between 2024 and 2032 to reach USD 24.03 billion by 2032.
| Global Rum Market Report Summary | Description | Value |
| Base Year | USD Billion | 2023 |
| Historical Period | USD Billion | 2018-2023 |
| Forecast Period | USD Billion | 2024-2032 |
| Market Size 2023 | USD Billion | 14.59 |
| Market Size 2032 | USD Billion | 24.03 |
| CAGR 2018-2023 | Percentage | XX% |
| CAGR 2024-2032 | Percentage | 5.7% |
| CAGR 2024-2032 - Market by Region | Asia Pacific | 6.9% |
| CAGR 2024-2032 - Market by Country | Australia | 7.6% |
| CAGR 2024-2032 - Market by Country | India | 7.4% |
| CAGR 2024-2032 - Market by Type | Dark | 6.3% |
| CAGR 2024-2032 - Market by Category | Plain | 6.4% |
| Market Share by Country 2023 | USA | XX% |
Global Rum Market Outlook
- In 2019, over 10 million bottles of rum were sold in the United Kingdom.
- Indonesian rum manufacturer Nusa Cana’s Godfather has garnered widespread consumer appeal globally.
- The United States, India, and the UK are some of the world’s topmost rum consumers.
Global Rum Market Growth
The increasing demand for high-end rums has emerged as one of the key market trends. Globally, consumers are becoming increasingly sophisticated and curious about the consumption of spirits, which has prompted them to seek distinctive products that provide a unique drinking experience. Major rum manufacturers have responded to this trend by using premium ingredients to create new flavour profiles and adopting sophisticated marketing strategies.
Innovation and product diversification have become major market drivers. Low-alcohol rum and ready-to-drink cocktails have boosted rum consumption, creating exciting opportunities for the market growth.
While large rum distilleries follow standard operating protocols to manufacture rum, micro-distilleries have transformed the taste and experience of drinking rum. Though they operate on a relatively small scale as compared to large distilleries, they focus on using innovative ingredients and manufacturing techniques to ensure authentic and high-quality production of rum. This has contributed to their popularity among rum consumers globally.
The supply of vintage rum in the market has surged significantly due to increasing collectors’ interest in dark rum. Besides, major rum manufacturers are developing unique rum production methods that minimise waste generation and industrial carbon footprint. Sustainable packaging materials and the promotion of ecotourism are expected to influence the market positively over the forecast period.
Global Rum Industry Segmentation
Global Rum Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
- White
- Gold
- Dark
- Others
| CAGR 2024-2032 - Market by | Type |
| Dark | 6.3% |
| White | XX% |
| Gold | XX% |
| Others | XX% |
Market Breakup by Category
- Plain
- Flavoured
- Spiced
| CAGR 2024-2032 - Market by | Category |
| Plain | 6.4% |
| Flavored | XX% |
| Spiced | XX% |
Market Breakup by Distribution Channel
- Off-Trade
- On-Trade
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
| CAGR 2024-2032 - Market by | Country |
| Australia | 7.6% |
| India | 7.4% |
| UK | 6.8% |
| China | 6.6% |
| Japan | 5.9% |
| Germany | 5.3% |
| France | 5.3% |
| USA | XX% |
| Canada | XX% |
| Italy | XX% |
| Saudi Arabia | XX% |
| Brazil | XX% |
| Mexico | XX% |
| CAGR 2024-2032 - Market by | Region |
| Asia Pacific | 6.9% |
| Europe | 6.3% |
| North America | XX% |
| Latin America | XX% |
| Middle East and Africa | XX% |
Global Rum Market Share
Based on region, the market is divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. Over the forecast period of 2024-2032, the Asia Pacific is projected to grow at a CAGR of 6.9% due to the high prevalence of drinking culture and innovative product launches.
Leading Companies in the Global Rum Market
Major rum manufacturers like Bacardi are focusing on the sale and distribution of premium rums while pioneering sustainable technologies for manufacturing packaging materials for their beverages.
- Diageo Plc
- Bacardi Ltd.
- Pernod Ricard S.A.
- Remy Cointreau S.A.
- William Grant & Sons Limited
- Westerhall Estate Ltd.
- Tanduay Distillers, Inc.
- Mohan Meakin Ltd.
- Cayman Spirits Co.
- HOVI Trading Ltd.
- Others
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Type |
|
| Breakup by Category |
|
| Breakup by Distribution Channel |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Rum Market Analysis
8.1 Key Industry Highlights
8.2 Global Rum Historical Market (2018-2023)
8.3 Global Rum Market Forecast (2024-2032)
8.4 Global Rum Market by Type
8.4.1 White
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Gold
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Dark
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Others
8.5 Global Rum Market by Category
8.5.1 Plain
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Flavoured
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Spiced
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.6 Global Rum Market by Distribution Channel
8.6.1 Off-Trade
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 On-Trade
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.7 Global Rum Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America Rum Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Rum Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Rum Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Rum Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Rum Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Trade Data Analysis (HS Code – 220840)
16.1 Major Exporting Countries
16.1.1 By Value
16.1.2 By Volume
16.2 Major Importing Countries
16.2.1 By Value
16.2.2 By Volume
17 Price Analysis
18 Competitive Landscape
18.1 Market Structure
18.2 Company Profiles
18.2.1 Diageo Plc
18.2.1.1 Company Overview
18.2.1.2 Product Portfolio
18.2.1.3 Demographic Reach and Achievements
18.2.1.4 Certifications
18.2.2 Bacardi Ltd.
18.2.2.1 Company Overview
18.2.2.2 Product Portfolio
18.2.2.3 Demographic Reach and Achievements
18.2.2.4 Certifications
18.2.3 Pernod Ricard S.A.
18.2.3.1 Company Overview
18.2.3.2 Product Portfolio
18.2.3.3 Demographic Reach and Achievements
18.2.3.4 Certifications
18.2.4 Remy Cointreau S.A.
18.2.4.1 Company Overview
18.2.4.2 Product Portfolio
18.2.4.3 Demographic Reach and Achievements
18.2.4.4 Certifications
18.2.5 William Grant & Sons Limited
18.2.5.1 Company Overview
18.2.5.2 Product Portfolio
18.2.5.3 Demographic Reach and Achievements
18.2.5.4 Certifications
18.2.6 Westerhall Estate Ltd.
18.2.6.1 Company Overview
18.2.6.2 Product Portfolio
18.2.6.3 Demographic Reach and Achievements
18.2.6.4 Certifications
18.2.7 Tanduay Distillers, Inc.
18.2.7.1 Company Overview
18.2.7.2 Product Portfolio
18.2.7.3 Demographic Reach and Achievements
18.2.7.4 Certifications
18.2.8 Mohan Meakin Ltd.
18.2.8.1 Company Overview
18.2.8.2 Product Portfolio
18.2.8.3 Demographic Reach and Achievements
18.2.8.4 Certifications
18.2.9 Cayman Spirits Co.
18.2.9.1 Company Overview
18.2.9.2 Product Portfolio
18.2.9.3 Demographic Reach and Achievements
18.2.9.4 Certifications
18.2.10 HOVI Trading Ltd.
18.2.10.1 Company Overview
18.2.10.2 Product Portfolio
18.2.10.3 Demographic Reach and Achievements
18.2.10.4 Certifications
18.2.11 Others
19 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Rum Market: Key Industry Highlights, 2018 and 2032
2. Global Rum Historical Market: Breakup by Type (USD Billion), 2018-2023
3. Global Rum Market Forecast: Breakup by Type (USD Billion), 2024-2032
4. Global Rum Historical Market: Breakup by Category (USD Billion), 2018-2023
5. Global Rum Market Forecast: Breakup by Category (USD Billion), 2024-2032
6. Global Rum Historical Market: Breakup by Distribution Channel (USD Billion), 2018-2023
7. Global Rum Market Forecast: Breakup by Distribution Channel (USD Billion), 2024-2032
8. Global Rum Historical Market: Breakup by Region (USD Billion), 2018-2023
9. Global Rum Market Forecast: Breakup by Region (USD Billion), 2024-2032
10. North America Rum Historical Market: Breakup by Country (USD Billion), 2018-2023
11. North America Rum Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Europe Rum Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Europe Rum Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Asia Pacific Rum Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Asia Pacific Rum Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Latin America Rum Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Latin America Rum Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Middle East and Africa Rum Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Middle East and Africa Rum Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Major Exporting Countries by Value
21. Major Importing Countries by Value
22. Major Exporting Countries by Volume
23. Major Importing Countries by Volume
24. Global Rum Market Structure
Key Questions Answered in the Report
The market reached nearly USD 14.59 billion in 2023.
The market is projected to grow at a CAGR of 5.7% between 2024 and 2032.
The market is assessed to witness healthy growth in the forecast period to reach around USD 24.03 million in 2032.
The different types of rum in the market are white, gold, and dark, among others.
The different distribution channels in the market are on-trade and off-trade.
The different categories of rum in the market include plain, flavoured, and spiced.
The different regions covered in the market report are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The key market players are Diageo Plc, Bacardi Ltd., Pernod Ricard S.A., Remy Cointreau S.A., William Grant & Sons Limited, Westerhall Estate Ltd., Tanduay Distillers, Inc., Mohan Meakin Ltd., Cayman Spirits Co., and HOVI Trading Ltd., among others.
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