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Rum Market Size, Share & Trends Analysis Report By Product Type (Dark & Golden Rum, White Rum, Flavored & Spiced Rum), By Distribution Channel (Off-Trade, On-Trade), By Region, And Segment Forecasts, 2023 - 2030

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    Report

  • 120 Pages
  • August 2023
  • Region: Global
  • Grand View Research
  • ID: 5595796
The global rum market size is expected to reach USD 18.15 billion by 2030, registering a CAGR of 5.6% over the forecast period. Rum is one of the most consumed beverages in all spirits, and consumers are highly inclined towards flavored and premium alcoholic beverages. Factors such as the growing urban population coupled with rising per capita income, consumers’ willingness to pay for premium brands, and younger generations increased footprints in places like nightclubs, pubs, and bars are expected to propel the market growth.

The high demand for flavored and spiced rums observed in recent years is driving the growth of the overall market. Rum is also extensively used for shakers, drink mixes, and cocktails thereby driving its demand among consumers. For instance, as per Wine and Spirit Trade Association in 2020, rum was declared the “drink of lockdown” owing to the availability of flavor-infused varieties. The change in consumer tastes and the growing demand for small-batch, handcrafted rum with darker/bolder flavor profiles are contributing to the growth of the market. For instance, Ron Zacapa 23 is made with brown sugar and hints of chocolate and caramel. This expression blends six to 23-year-old rum using the solera process, which combines younger and older liquids in oak casks. Such flavors have a higher preference among regular rum drinkers.

Technology-driven trends in the aging process of the product have changed consumer preferences to a considerable extent. Consumers largely opt for aged rum with darker and bolder flavors. The trends in product sales are largely driven by brand awareness, shopping frequency, and expenditure capability of different buyers. The purchasing habits of younger consumers are often influenced by the price point and brand position. A key observation in the buying behavior of millennials is the preference for brands available on online platforms, after comparing price and style.

The market growth is anticipated to be driven by the positive health associations linked to moderate consumption. When consumed in limited amounts, rum is believed to offer various health benefits, including promoting a healthy heart, aiding in the fight against common colds, and potentially benefiting individuals with diabetes by helping to lower blood sugar levels.

Moreover, countries like India and the Philippines, renowned for their significant production and consumption of rum, play a crucial role as major contributors to the broader alcoholic beverage market. These countries' cultural preferences and deep-rooted traditions have solidified rum as a preferred choice among consumers, further bolstering its prominence in the market.

The global market is competitive and a number of global players play a vital role in driving its growth. Rum-producing companies are strengthening their presence by launching new products, mergers and acquisitions, and expansion of distribution channels. For instance, In August 2021, a UK-based brand, Arlu Rum, launched its first RTD cans in three flavors−passionfruit and mango mojito, blood orange and ginger beer, and spiced rum and cola.

Rum Market Report Highlights

  • The off-trade segment accounted for the highest revenue share of over 75% in 2022 and is expected to grow significantly over the forecast period
  • The dark and golden rum segment contributed the largest revenue share of over 45% in 2022 owing to the growing demand from millennials
  • Asia Pacific accounted for the largest revenue share of over 40% in 2022 and is expected to grow at a substantial CAGR from 2023 to 2030. The presence of a huge population, rise in disposable income, easy availability of products, and rising popularity of rum in the younger generation leads to a high market share
  • North America is estimated to be the fastest-growing market from 2023 to 2030. This is owing to the presence of a large number of global producers, rising demand for premium rums, and increase consumption of flavored and spiced rums in cocktails

Table of Contents

Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Purchased Database
1.3.2. Internal Database
1.3.3. Secondary Sources & Third-Party Perspectives
1.3.4. Primary Research
1.4. Information Analysis
1.4.1. Data Analysis Models
1.5. Market Formulation & Data Visualization
1.6. Data Validation & Publishing
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Product Type Outlook
2.3. Distribution Channel Outlook
2.4. Competitive Insights
Chapter 3. Rum Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.2. Industry Value Chain Analysis
3.2.1. Raw Material Outlook
3.2.2. Manufacturing and Technology Outlook
3.2.3. Profit Margin Analysis
3.3. Market Dynamics
3.3.1. Market Driver Analysis
3.3.2. Market Restraint Analysis
3.3.3. Market Opportunities
3.3.4. Market Challenges
3.4. Industry Analysis - Porter’s Five Forces Analysis
3.5. Market Entry Strategies
Chapter 4. Consumer Behavior Analysis
4.1. Demographics Analysis
4.2. Consumer Trends and Preferences
4.3. Factors Affecting Buying Decision
4.4. Consumer Product Adoption
4.5. Key Observations & Findings
Chapter 5. Rum Market: By Product Type Estimates & Trend Analysis
5.1. By Product Type Movement Analysis & Market Share, 2022 & 2030
5.2. Dark and Golden Rum
5.2.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
5.3. White Rum
5.3.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
5.4. Flavored and Spiced Rum
5.4.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
5.5. Others
5.5.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
Chapter 6. Rum Market: By distribution channel & Trend Analysis
6.1. By distribution channel Analysis & Market Share, 2022 & 2030
6.2. Off-Trade
6.2.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
6.3. On-Trade
6.3.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
Chapter 7. Rum Market: Regional Estimates & Trend Analysis
7.1. Regional Movement Analysis & Market Share, 2022 & 2030
7.2. North America
7.2.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
7.2.2. Market estimates and forecast, by product type, 2017 - 2030 (USD Billion)
7.2.3. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Billion)
7.2.4. U.S.
7.2.4.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
7.2.4.2. Market estimates and forecast, by product type, 2017 - 2030 (USD Billion)
7.2.4.3. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Billion)
7.2.5. Canada
7.2.5.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
7.2.5.2. Market estimates and forecast, by product type, 2017 - 2030 (USD Billion)
7.2.5.3. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Billion)
7.3. Europe
7.3.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
7.3.2. Market estimates and forecast, by product type, 2017 - 2030 (USD Billion)
7.3.3. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Billion)
7.3.4. Germany
7.3.4.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
7.3.4.2. Market estimates and forecast, by product type, 2017 - 2030 (USD Billion)
7.3.4.3. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Billion)
7.3.5. UK
7.3.5.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
7.3.5.2. Market estimates and forecast, by product type, 2017 - 2030 (USD Billion)
7.3.5.3. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Billion)
7.3.6. France
7.3.6.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
7.3.6.2. Market estimates and forecast, by product type, 2017 - 2030 (USD Billion)
7.3.6.3. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Billion)
7.3.7. Russia
7.3.7.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
7.3.7.2. Market estimates and forecast, by product type, 2017 - 2030 (USD Billion)
7.3.7.3. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Billion)
7.3.8. Italy
7.3.8.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
7.3.8.2. Market estimates and forecast, by product type, 2017 - 2030 (USD Billion)
7.3.8.3. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Billion)
7.4. Asia Pacific
7.4.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
7.4.2. Market estimates and forecast, by product type, 2017 - 2030 (USD Billion)
7.4.3. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Billion)
7.4.4. China
7.4.4.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
7.4.4.2. Market estimates and forecast, by product type, 2017 - 2030 (USD Billion)
7.4.4.3. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Billion)
7.4.5. Philippines
7.4.5.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
7.4.5.2. Market estimates and forecast, by product type, 2017 - 2030 (USD Billion)
7.4.5.3. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Billion)
7.4.6. India
7.4.6.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
7.4.6.2. Market estimates and forecast, by product type, 2017 - 2030 (USD Billion)
7.4.6.3. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Billion)
7.4.7. Japan
7.4.7.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
7.4.7.2. Market estimates and forecast, by product type, 2017 - 2030 (USD Billion)
7.4.7.3. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Billion)
7.4.8. Australia
7.4.8.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
7.4.8.2. Market estimates and forecast, by product type, 2017 - 2030 (USD Billion)
7.4.8.3. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Billion)
7.5. Central & South America
7.5.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
7.5.2. Market estimates and forecast, by product type, 2017 - 2030 (USD Billion)
7.5.3. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Billion)
7.5.4. Brazil
7.5.4.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
7.5.4.2. Market estimates and forecast, by product type, 2017 - 2030 (USD Billion)
7.5.4.3. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Billion)
7.5.5. Argentina
7.5.5.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
7.5.5.2. Market estimates and forecast, by product type, 2017 - 2030 (USD Billion)
7.5.5.3. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Billion)
7.6. Middle East & Africa
7.6.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
7.6.2. Market estimates and forecast, by product type, 2017 - 2030 (USD Billion)
7.6.3. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Billion)
7.6.4. South Africa
7.6.4.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
7.6.4.2. Market estimates and forecast, by product type, 2017 - 2030 (USD Billion)
7.6.4.3. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Billion)
Chapter 8. Competitive Analysis
8.1. Recent developments & impact analysis, by key market participants
8.2. Company Categorization
8.3. Participant’s Overview
8.4. Financial Performance
8.5. Product Benchmarking
8.6. Company Market Share Analysis, 2022 (%)
8.7. Company Heat Map Analysis
8.8. Strategy Mapping
8.9. List of key companies analyzed in this section include:
8.9.1. Bacardi Limited
8.9.2. Davide Campari-Milano Spa
8.9.3. Demerara Distillers Ltd.
8.9.4. Diageo Plc
8.9.5. LT Group Inc.
8.9.6. Nova Scotia Spirit Co.
8.9.7. Pernod Ricard SA
8.9.8. Suntory Holdings Ltd.
8.9.9. William Grant & Sons Ltd.
8.9.10. Mohan Meakin Limited
List of Tables
1. Rum market - Driving factor market analysis
2. Rum market - Restraint factor market analysis
3. Rum market estimates & forecast, by product type (USD Billion)
4. Rum market estimates & forecast, by distribution channel (USD Billion)
5. U.S. macro-economic outlay
6. Canada macro-economic outlay
7. UK macro-economic outlay
8. Germany macro-economic outlay
9. France macro-economic outlay
10. Italy macro-economic outlay
11. Russia macro-economic outlay
12. China macro-economic outlay
13. Japan macro-economic outlay
14. India macro-economic outlay
15. Australia macro-economic outlay
16. Philippines macro-economic outlay
17. Brazil macro-economic outlay
18. Argentina macro-economic outlay
19. South Africa macro-economic outlay
20. Recent developments & impact analysis, by key market participants
21. Company market share, 2022 (Value % Share)
22. Company heat map analysis
List of Figures
1. Information procurement
2. Primary research pattern
3. Primary research approaches
4. Primary research process
5. Market Snapshot
6. Segment Snapshot
7. Segment Snapshot
8. Competitive Landscape Snapshot
9. Rum market size, 2017 to 2030 (USD Billion)
10. Rum market: Value chain analysis
11. Rum market: Profit-margin analysis
12. Rum market: Dynamics
13. Rum market: Porter’s five forces analysis
14. Factors affecting buying decisions for Rum
15. Global rum market estimates and forecast, 2017 - 2030 (USD Billion)
16. Global dark and golden rum market estimates and forecast, 2017 - 2030 (USD Billion)
17. Global white rum market estimates and forecast, 2017 - 2030 (USD Billion)
18. Global flavored and spiced rum market estimates and forecast, 2017 - 2030 (USD Billion)
19. Global rum market estimates and forecast through Off-Trade, 2017 - 2030 (USD Billion)
20. Global rum market estimates and forecast through On-Trade, 2017 - 2030 (USD Billion)
21. North America rum market estimates and forecast, 2017 - 2030 (USD Billion)
22. North America rum market revenue estimates and forecast by product type, 2017 - 2030 (USD Billion)
23. North America rum market revenue estimates and forecast by distribution channel, 2017 - 2030 (USD Billion)
24. U.S. rum market estimates and forecast, 2017 - 2030 (USD Billion)
25. U.S. rum market revenue estimates and forecast by product type, 2017 - 2030 (USD Billion)
26. U.S. rum market revenue estimates and forecast by distribution channel, 2017 - 2030 (USD Billion)
27. Canada rum market estimates and forecast, 2017 - 2030 (USD Billion)
28. Canada rum market revenue estimates and forecast by product type, 2017 - 2030 (USD Billion)
29. Canada rum market revenue estimates and forecast by distribution channel, 2017 - 2030 (USD Billion)
30. Europe rum market estimates and forecast, 2017 - 2030 (USD Billion)
31. Europe rum market revenue estimates and forecast by product type, 2017 - 2030 (USD Billion)
32. Europe rum market revenue estimates and forecast by distribution channel, 2017 - 2030 (USD Billion)
33. Germany rum market estimates and forecast, 2017 - 2030 (USD Billion)
34. Germany rum market revenue estimates and forecast by product type, 2017 - 2030 (USD Billion)
35. Germany rum market revenue estimates and forecast by distribution channel, 2017 - 2030 (USD Billion)
36. UK rum market estimates and forecast, 2017 - 2030 (USD Billion)
37. UK rum market revenue estimates and forecast by product type, 2017 - 2030 (USD Billion)
38. UK rum market revenue estimates and forecast by distribution channel, 2017 - 2030 (USD Billion)
39. France rum market estimates and forecast, 2017 - 2030 (USD Billion)
40. France rum market revenue estimates and forecast by product type, 2017 - 2030 (USD Billion)
41. France rum market revenue estimates and forecast by distribution channel, 2017 - 2030 (USD Billion)
42. Russia rum market estimates and forecast, 2017 - 2030 (USD Billion)
43. Russia rum market revenue estimates and forecast by product type, 2017 - 2030 (USD Billion)
44. Russia rum market revenue estimates and forecast by distribution channel, 2017 - 2030 (USD Billion)
45. Italy rum market estimates and forecast, 2017 - 2030 (USD Billion)
46. Italy rum market revenue estimates and forecast by product type, 2017 - 2030 (USD Billion)
47. Italy rum market revenue estimates and forecast by distribution channel, 2017 - 2030 (USD Billion)
48. Asia Pacific rum market estimates and forecast, 2017 - 2030 (USD Billion)
49. Asia Pacific rum market revenue estimates and forecast by product type, 2017 - 2030 (USD Billion)
50. Asia Pacific rum market revenue estimates and forecast by distribution channel, 2017 - 2030 (USD Billion)
51. China rum market estimates and forecast, 2017 - 2030 (USD Billion)
52. China rum market revenue estimates and forecast by product type, 2017 - 2030 (USD Billion)
53. China rum market revenue estimates and forecast by distribution channel, 2017 - 2030 (USD Billion)
54. Philippines rum market estimates and forecast, 2017 - 2030 (USD Billion)
55. Philippines rum market revenue estimates and forecast by product type, 2017 - 2030 (USD Billion)
56. Philippines rum market revenue estimates and forecast by distribution channel, 2017 - 2030 (USD Billion)
57. India rum market estimates and forecast, 2017 - 2030 (USD Billion)
58. India rum market revenue estimates and forecast by product type, 2017 - 2030 (USD Billion)
59. India rum market revenue estimates and forecast by distribution channel, 2017 - 2030 (USD Billion)
60. Japan rum market estimates and forecast, 2017 - 2030 (USD Billion)
61. Japan rum market revenue estimates and forecast by product type, 2017 - 2030 (USD Billion)
62. Japan rum market revenue estimates and forecast by distribution channel, 2017 - 2030 (USD Billion)
63. Australia rum market estimates and forecast, 2017 - 2030 (USD Billion)
64. Australia rum market revenue estimates and forecast by product type, 2017 - 2030 (USD Billion)
65. Australia rum market revenue estimates and forecast by distribution channel, 2017 - 2030 (USD Billion)
66. Central & South America rum market estimates and forecast, 2017 - 2030 (USD Billion)
67. Central & South America rum market revenue estimates and forecast by product type, 2017 - 2030 (USD Billion)
68. Central & South America rum market revenue estimates and forecast by distribution channel, 2017 - 2030 (USD Billion)
69. Brazil rum market estimates and forecast, 2017 - 2030 (USD Billion)
70. Brazil rum market revenue estimates and forecast by product type, 2017 - 2030 (USD Billion)
71. Brazil rum market revenue estimates and forecast by distribution channel, 2017 - 2030 (USD Billion)
72. Argentina rum market estimates and forecast, 2017 - 2030 (USD Billion)
73. Argentina rum market revenue estimates and forecast by product type, 2017 - 2030 (USD Billion)
74. Argentina rum market revenue estimates and forecast by distribution channel, 2017 - 2030 (USD Billion)
75. Middle East & Africa rum market estimates and forecast, 2017 - 2030 (USD Billion)
76. Middle East & Africa rum market revenue estimates and forecast by product type, 2017 - 2030 (USD Billion)
77. Middle East & Africa rum market revenue estimates and forecast by distribution channel, 2017 - 2030 (USD Billion)
78. South Africa rum market estimates and forecast, 2017 - 2030 (USD Billion)
79. South Africa rum market revenue estimates and forecast by product type, 2017 - 2030 (USD Billion)
80. South Africa rum market revenue estimates and forecast by distribution channel, 2017 - 2030 (USD Billion)
81. Key company categorization
82. Company market share analysis, 2022

Companies Mentioned

  • Bacardi Limited
  • Davide Campari-Milano Spa
  • Demerara Distillers Ltd.
  • Diageo Plc
  • LT Group Inc.
  • Nova Scotia Spirit Co.
  • Pernod Ricard SA
  • Suntory Holdings Ltd.
  • William Grant & Sons Ltd.
  • Mohan Meakin Limited

Methodology

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Table Information