Global Rum Market Report and Forecast 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 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

Market Breakup by Category

• Plain

• Flavoured

• Spiced

Market Breakup by Distribution Channel

• Off-Trade

• On-Trade

Market Breakup by Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

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