United States Rum Market Report and Forecast 2024-2032

United States Rum Market Size

The United States rum market is estimated to grow at a CAGR of 6.4% during the forecast period of 2024-2032. The market is being aided by the growing demand for aged and white rum.

United States Rum Market Outlook

The United States rum market expansion is being aided by the growing consumer interest in aged rum and craft spicy rum. American consumers have substantially increased their spending on rum in retail stores, which witnessed sales of over $8 billion of rum in 2021. Florida (2.8 million), California (2.3 million), New York (1.9 million), Texas (1.1 million), and New Jersey (1 million) accounted for the highest sales of 9L rum cases in 2021, due to increasing consumer appeal for premium imported brands. Rising disposable incomes and the demand for unique flavours are expected to drive the demand for rum among younger consumers.

Major rum manufacturers are expected to adopt sea-based themes to market their beverages among consumers and delve into the history and production processes of their beverages to pique consumer’s interest. This is expected to contribute to the United States rum market development in the coming years.  

The Rising Demand for White Rum is One of the Crucial United States Rum Market Trends

• White rum is anticipated to experience the highest growth rate at a CAGR of 7.2% from 2024 to 2032. It is followed by gold rum, which is projected to grow at a CAGR of 6.8%, reflecting its increasing popularity among consumers seeking richer flavours. 

• Dark rum is estimated to grow at a CAGR of 6.5% during the forecast period of 2024-2032. The association of dark rum with premium and craft offerings is increasing the United States rum market value. 

• Spiced rum, known for its distinctive flavour profiles, is projected to grow at a CAGR of 6.1%, appealing to a niche but loyal market segment. 

• As per the United States rum market analysis, other types of rum, including flavoured and speciality rums, are expected to see steady growth at a CAGR of 5.8%, as innovation and variety continue to attract diverse consumer preferences.

The Growing Sales of Rum from On-Trade Channels is Driving the United States Rum Market Growth

• The on-trade segment, which includes sales through bars, restaurants, and other establishments where alcohol is consumed on the premises, is expected to experience the highest growth with a CAGR of 7.0%. The United States rum demand growth reflects a strong consumer preference for social drinking experiences. 

• The off-trade segment, encompassing retail sales for at-home consumption, is also expected to see solid growth at a CAGR of 5.8% between 2024 and 2032. The convenience and wide availability of rum in liquor stores and supermarkets are boosting the United States rum market revenue.

United States Rum Market Regional Analysis

• The Far West region is expected to lead with a CAGR of 7.4% whereas The Rocky Mountain and Southwest regions follow closely, with CAGRs of 6.9% and 6.6%, respectively. 

• The Southeast region is also poised for significant growth, with a 6.3% CAGR. The increasing consumer demand for premium and flavoured rums is creating lucrative United States rum market opportunities. 

• The New England and Mideast regions are anticipated to see moderate growth, with CAGRs of 6.0% and 5.5%, respectively, as rum continues to gain popularity as a versatile spirit in cocktail culture. 

• As per the United States rum industry statistics, the Plains and Great Lakes regions are expected to grow at slower rates, with CAGRs of 5.1% and 4.8%, respectively, reflecting a more stable but consistent market for rum in these areas.

Key Questions Answered in This Report:

• How has the United States rum market performed historically, and what are the growth expectations for the future?

• What are the primary factors influencing demand and growth in the United States rum market?

• What are the key segments within the United States rum market, and how are they expected to evolve over the forecast period?

• What are the major challenges and opportunities facing stakeholders in the United States rum market?

• Who are the key players in the United States rum market, and what strategies are they employing to maintain a competitive edge?

• What are the regulatory and policy factors influencing the United States rum market globally or regionally?

• How competitive is the United States rum market according to Porter's five forces analysis, including factors like the bargaining power of buyers and suppliers?

• What are the current trends shaping the United States rum market landscape, and how are they expected to evolve in the future?

• How are technological advancements impacting the United States rum market, and what role do innovation and R&D play in driving growth?

• What are the consumer preferences and buying behavior trends influencing the United States rum market?

• How sustainable are current growth rates in the United States rum market, and what factors could potentially disrupt these trends?

• What are the regional dynamics within the United States rum market, and how do they contribute to overall market growth?

• What are the economic factors influencing the United States rum market, such as GDP growth, inflation rates, and currency fluctuations?

• How are demographic shifts, such as aging populations or urbanization trends, affecting demand in the United States rum market?

• What are the key strategic partnerships, mergers, and acquisitions shaping the competitive landscape of the United States rum market?

• What are the regulatory and legal frameworks impacting the United States rum market globally or in key regions?

• How are changing consumer lifestyles and preferences influencing product or service demand within the United States rum market?

• What are the emerging market trends and niche opportunities within the United States rum market that stakeholders should be aware of?

• How resilient is the United States rum market to external shocks or disruptions, such as geopolitical tensions or natural disasters?

• What are the potential barriers to market entry and growth for new players in the United States rum market?

Key Benefits for Stakeholders:

Expert Market Research's industry report provides a comprehensive quantitative analysis of various market segments, and historical and current market trends, and forecasts the dynamics of the United States rum market spanning from 2018 to 2032.

The research report delivers up-to-date insights into the market drivers, challenges, and opportunities shaping the United States rum industry.

Stakeholders can leverage Porter's five forces analysis to assess the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. This analysis aids in evaluating the competitiveness and attractiveness of the United States rum market.

The competitive landscape section enables stakeholders to gain a deep understanding of their competitive environment. It offers insights into the current market positions of key players, their strategies, and their market shares.

Additionally, the report highlights emerging trends, regulatory influences, and technological advancements that are pivotal for stakeholders navigating the United States rum market landscape.

Key Highlights of the Report