Rum Market by Product, Distribution Channel, and Geography - Forecast and Analysis 2021-2025

  • Published: Mar 2021
  • Pages: 152
  • SKU: IRTNTR40077
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The rum market has the potential to grow by 73.66 million L during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 1.31%.

This rum market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by product (gold and dark rum, white rum, and spiced rum), distribution channel (on trade and off trade), and geography (APAC, North America, Europe, South America, and MEA). The rum market report also offers information on several market vendors, including Asahi Group Holdings Ltd., Bacardi Ltd., Constellation Brands Inc., Davide Campari Milano Spa, Demerara Distillers Ltd., Diageo Plc, LT Group Inc., Pernod Ricard SA, Suntory Holdings Ltd., and William Grant and Sons Ltd. among others.

What will the Rum Market Size be in 2021?

Rum-Market-Market-Size-2020-2025

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Rum Market: Key Drivers and Trends

Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The growing demand for premium varieties of rum is notably driving the rum market growth, although factors such as the increasing number of campaigns against alcohol consumption may impede market growth. To unlock information on the key market drivers and the COVID-19 pandemic impact on the rum industry get your FREE report sample now.

  • The rising demand for premium rum is one of the major factors expected to drive the growth of the rum market.
  • A significant increase in the per capita income in developed and developing economies is one of the major factors that have led to a rise in the demand for premium varieties of rum among consumers.
  • Premium varieties of rum are widely preferred because of their authenticity, taste, and brand.
  • With an increase in the number of premium varieties of rum launches globally, vendors operating across the world are trying to push high-end products to encourage consumers to spend more. This will positively influence the growth of the rum market during the forecast period.
  • One of the major factors positively impacting the global rum market is the rise in the number of new product launches (flavored rums).
  • The launch of new products helps vendors increase their revenue and market share. It also helps in retaining customers.
  • The rise in the demand for new products can be attributed to product innovation in terms of ingredients and flavors and the willingness of consumers to try new products.
  • Vendors operating in the market are trying to attract more consumers by introducing new variants of flavored rum.
  • They are focusing on increasing the overall sales of rum by expanding their product portfolios. 

This rum market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. Get detailed insights on the trends and challenges, which will help companies evaluate and develop growth strategies.

Who are the Major Rum Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Asahi Group Holdings Ltd.
  • Bacardi Ltd.
  • Constellation Brands Inc.
  • Davide Campari Milano Spa
  • Demerara Distillers Ltd.
  • Diageo Plc
  • LT Group Inc.
  • Pernod Ricard SA
  • Suntory Holdings Ltd.
  • William Grant and Sons Ltd.

 

The rum market is fragmented and the vendors are deploying growth strategies such as product innovations to compete in the market. Click here to uncover other successful business strategies deployed by the vendors. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the rum market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Rum Market?

Rum-Market-Market-Share-by-Region-2020-2025

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53% of the market’s growth will originate from APAC during the forecast period. India and the Philippines are the key markets for rum in APAC. Market growth in APAC will be faster than the growth of the market in other regions.

The increasing disposable income of consumers and vendor expansions will facilitate the rum market growth in APAC over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report.

What are the Revenue-generating Product Segments in the Rum Market?

Rum-Market-Market-Share-by-Product-2020-2025

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The rum market share growth by the gold and dark rum segment will be significant during the forecast period. The growing demand for uniquely flavored rum cocktails is one of the major factors driving the market for gold and dark rums. Gold and dark rums are popular varieties of rum used in rum-based cocktails.

Fetch actionable market insights on post COVID-19 impact on each segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the rum market size.

 

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What are the Key Factors Covered in this Rum Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive rum market growth during the next five years
  • Precise estimation of the rum market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the rum industry across APAC, North America, Europe, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of rum market vendors

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The rum market growth will increase by $73.66 million L during 2020-2025.
The rum market is expected to grow at a CAGR of 1.31% during 2020-2025.
Technavio has segmented the rum market by product by volume (Gold and dark rum, White rum, and Spiced rum) ,distribution channel volume (On trade and Off trade) , and geographic (APAC, North America, Europe, South America, and MEA).
Asahi Group Holdings Ltd., Bacardi Ltd., Constellation Brands Inc., Davide Campari Milano Spa, Demerara Distillers Ltd., Diageo Plc, LT Group Inc., Pernod Ricard SA, Suntory Holdings Ltd., William Grant and Sons Ltd. are a few of the key vendors in the rum market.
APAC will register the highest growth rate of 52.54% among the other regions. Therefore, the rum market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
  • India
  • US
  • The Philippines
  • UK
  • France
The key factors driving the rum market growth are:
  • Rising demand for biofuels
The rum market vendors should focus on grabbing business opportunities from the gold and dark rum segment as it accounted for the largest market share in the base year.
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