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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 share is expected to increase by 73.66 mn L from 2020 to 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 rum market segmentations by product by volume (gold and dark rum, white rum, and spiced rum), distribution by volume (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 During the Forecast Period?

Rum Market Size

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Rum Market: Key Drivers, Trends, and Challenges

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 growing health concerns among consumers may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the rum industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Rum Market Driver

The growing demand for premium varieties of rum is notably driving the global rum market growth. Globally, the rising demand for premium rum is one of the major factors expected to drive the growth of the global 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 launched 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 global rum market during the forecast period.

Key Rum Market Trend

The rise in inorganic growth is the key market trend driving the global rum market growth. One of the positive trends influencing the growth of the global rum market is the increasing number of mergers and acquisitions (M&A). Successful M&A helps vendors increase their market share and gain access to new products and technologies. The growing popularity of premium rum has encouraged major vendors to adopt the M&A strategy and acquire smaller players specializing in any category. In addition to these acquisitions, there have been instances where key players operating in the global rum market have either invested in small craft distillers or have acquired them to tap into the huge growth potential of the market.

Key Rum Market Challenge

Growing health concerns among consumers are the major challenge impeding the global rum market growth. Rum is one of the most widely consumed alcoholic beverages. However, with the growing inclination of consumers towards healthy living and lifestyles, there is an increasing phenomenon of abstinence from drinking rum. As the consumption of rum is known to cause ailments, the preference for rum is decreasing. Consuming rum regularly reduces the heart rate and causes chest pain. The long-term risks of rum consumption include depression, high blood pressure, liver diseases, and cancer. Increasing health awareness and the growing inclination for healthy lifestyles have encouraged the consumption of low-alcohol rum. The rising preference for healthier drinks and beverages, however, is mitigating the growth of the global rum market. As a result, there is a decline in overall alcohol consumption.

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. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global rum market is a part of the global distillers and vintners market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the rum market during the forecast period.

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.

 

This statistical study of the rum market encompasses successful business strategies deployed by the key vendors. The rum market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • Asahi Group Holdings Ltd. - The company offers various types of rum.

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.

The rum market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Rum Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the rum market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for Rum Market?

Rum Market Market segmentation by region

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53% of the market's growth will originate from APAC during the forecast period. India is the key market for the rum market in APAC. Market growth in this region will be faster than the growth of the market in other regions.

Disposable income is a key criterion when it comes to buying spirits such as rum. Therefore, the increasing disposable income of consumers will facilitate the rum market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The outbreak of COVID-19 adversely impacted the market in focus, mostly in the first six months of 2020. Due to the shutdown of manufacturing and production facilities, the market in focus witnessed a downfall in the supply of rum, and therefore, there was a decline in sales.

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

Rum Market Segmentation

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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. 

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

 

Rum Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 1.31%

Market growth 2021-2025

73.66 mn L

Market structure

Fragmented

YoY growth (%)

0.67

Regional analysis

APAC, North America, Europe, South America, MEA, APAC, North America, Europe, South America, and MEA

Performing market contribution

APAC at 53%

Key consumer countries

India, US, The Philippines, UK, and France

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

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.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

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What are the Key Data 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, MEA, 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

We can help! Our analysts can customize this report to meet your requirements. Get in touch

1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 01: Parent market
    • Exhibit 02: Market characteristics
  • 2.2 Value chain analysis
    • Exhibit 03: Value chain analysis

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 04: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 05: Market segments
  • 3.3 Market size 2020
    • 3.4 Market outlook: Forecast for 2020 - 2025
      • Exhibit 06: Global - Market size and forecast 2020 - 2025 (million L)
      • Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)

    4 Five Forces Analysis

    • 4.1 Five force summary
      • Exhibit 08: Five forces analysis 2020 & 2025
    • 4.2 Bargaining power of buyers
      • Exhibit 09: Bargaining power of buyers
    • 4.3 Bargaining power of suppliers
      • Exhibit 10: Bargaining power of suppliers
    • 4.4 Threat of new entrants
      • Exhibit 11: Threat of new entrants
    • 4.5 Threat of substitutes
      • Exhibit 12: Threat of substitutes
    • 4.6 Threat of rivalry
      • Exhibit 13: Threat of rivalry
    • 4.7 Market condition
      • Exhibit 14: Market condition - Five forces 2020

    5 Market Segmentation by Product by Volume

    • 5.1 Market segments
      • 5.2 Comparison by Product by volume
        • Exhibit 16: Comparison by Product by volume
      • 5.3 Gold and dark rum - Market size and forecast 2020-2025 (millions L)
        • Exhibit 17: Gold and dark rum - Market size and forecast 2020-2025 (million L)
        • Exhibit 18: Gold and dark rum - Year-over-year growth 2020-2025 (%)
      • 5.4 White rum - Market size and forecast 2020-2025 (millions L)
        • Exhibit 19: White rum - Market size and forecast 2020-2025 (million L)
        • Exhibit 20: White rum - Year-over-year growth 2020-2025 (%)
      • 5.5 Spiced rum - Market size and forecast 2020-2025 (millions L)
        • Exhibit 21: Spiced rum - Market size and forecast 2020-2025 (million L)
        • Exhibit 22: Spiced rum - Year-over-year growth 2020-2025 (%)
      • 5.6 Market opportunity by Product by volume
        • Exhibit 23: Market opportunity by Product by volume

      6 Market Segmentation by Distribution channel by Volume

      • 6.1 Market segments
        • Exhibit 24: Distribution channel by volume - Market share 2020-2025 (%)
      • 6.2 Comparison by Distribution channel by volume
        • Exhibit 25: Comparison by Distribution channel by volume
      • 6.3 On trade - Market size and forecast 2020-2025 (millions L)
        • Exhibit 26: On trade - Market size and forecast 2020-2025 (million L)
        • Exhibit 27: On trade - Year-over-year growth 2020-2025 (%)
      • 6.4 Off trade - Market size and forecast 2020-2025 (millions L)
        • Exhibit 28: Off trade - Market size and forecast 2020-2025 (million L)
        • Exhibit 29: Off trade - Year-over-year growth 2020-2025 (%)
      • 6.5 Market opportunity by Distribution channel by volume
        • Exhibit 30: Market opportunity by Distribution channel by volume

      7 Customer landscape

      8 Geographic Segmentation by Volume

      • 8.1 Geographic segmentation
        • Exhibit 32: Market share by geography 2020-2025 (%)
      • 8.2 Geographic comparison
        • Exhibit 33: Geographic comparison
      • 8.3 APAC - Market size and forecast 2020-2025 (million L)
        • Exhibit 34: APAC - Market size and forecast 2020-2025 (million L)
        • Exhibit 35: APAC - Year-over-year growth 2020-2025 (%)
      • 8.4 North America - Market size and forecast 2020-2025 (million L)
        • Exhibit 36: North America - Market size and forecast 2020-2025 (million L)
        • Exhibit 37: North America - Year-over-year growth 2020-2025 (%)
      • 8.5 Europe - Market size and forecast 2020-2025 (million L)
        • Exhibit 38: Europe - Market size and forecast 2020-2025 (million L)
        • Exhibit 39: Europe - Year-over-year growth 2020-2025 (%)
      • 8.6 South America - Market size and forecast 2020-2025 (million L)
        • Exhibit 40: South America - Market size and forecast 2020-2025 (million L)
        • Exhibit 41: South America - Year-over-year growth 2020-2025 (%)
      • 8.7 MEA - Market size and forecast 2020-2025 (million L)
        • Exhibit 42: MEA - Market size and forecast 2020-2025 (million L)
        • Exhibit 43: MEA - Year-over-year growth 2020-2025 (%)
      • 8.8 Key leading countries
        • Exhibit 44: Key leading countries
      • 8.9 Market opportunity by geography
        • Exhibit 45: Market opportunity by geography (million L)

      9 Drivers, Challenges, and Trends

      • 9.1 Market drivers
        • 9.2 Market challenges
          • Exhibit 46: Impact of drivers and challenges
        • 9.3 Market trends

          10 Vendor Landscape

          • 10.1 Overview
            • 10.2 Vendor landscape
              • Exhibit 47: Vendor landscape
            • 10.3 Landscape disruption

              11 Vendor Analysis

              • 11.1 Vendors covered
                • Exhibit 50: Vendors covered
              • 11.2 Market positioning of vendors
                • Exhibit 51: Market positioning of vendors
              • 11.3 Asahi Group Holdings Ltd.
                • Exhibit 52: Asahi Group Holdings Ltd. - Overview
                • Exhibit 53: Asahi Group Holdings Ltd. - Business segments
                • Exhibit 54: Asahi Group Holdings Ltd. - Key offerings
                • Exhibit 55: Asahi Group Holdings Ltd. - Segment focus
              • 11.4 Bacardi Ltd.
                • Exhibit 56: Bacardi Ltd. - Overview
                • Exhibit 57: Bacardi Ltd. - Product and service
                • Exhibit 58: Bacardi Ltd. – Key news
                • Exhibit 59: Bacardi Ltd. - Key offerings
              • 11.5 Constellation Brands Inc.
                • Exhibit 60: Constellation Brands Inc. - Overview
                • Exhibit 61: Constellation Brands Inc. - Business segments
                • Exhibit 62: Constellation Brands Inc. - Key offerings
                • Exhibit 63: Constellation Brands Inc. - Segment focus
              • 11.6 Davide Campari Milano Spa
                • Exhibit 64: Davide Campari Milano Spa - Overview
                • Exhibit 65: Davide Campari Milano Spa - Business segments
                • Exhibit 66: Davide Campari Milano Spa - Key offerings
                • Exhibit 67: Davide Campari Milano Spa - Segment focus
              • 11.7 Demerara Distillers Ltd.
                • Exhibit 68: Demerara Distillers Ltd. - Overview
                • Exhibit 69: Demerara Distillers Ltd. - Business segments
                • Exhibit 70: Demerara Distillers Ltd. - Key offerings
                • Exhibit 71: Demerara Distillers Ltd. - Segment focus
              • 11.8 Diageo Plc
                • Exhibit 72: Diageo Plc - Overview
                • Exhibit 73: Diageo Plc - Business segments
                • Exhibit 74: Diageo Plc. – Key news
                • Exhibit 75: Diageo Plc - Key offerings
                • Exhibit 76: Diageo Plc - Segment focus
              • 11.9 LT Group Inc.
                • Exhibit 77: LT Group Inc. - Overview
                • Exhibit 78: LT Group Inc. - Business segments
                • Exhibit 79: LT Group Inc. - Key offerings
                • Exhibit 80: LT Group Inc. - Segment focus
              • 11.10 Pernod Ricard SA
                • Exhibit 81: Pernod Ricard SA - Overview
                • Exhibit 82: Pernod Ricard SA - Product and service
                • Exhibit 83: Pernod Ricard SA – Key news
                • Exhibit 84: Pernod Ricard SA - Key offerings
                • Exhibit 85: Pernod Ricard SA - Segment focus
              • 11.11 Suntory Holdings Ltd.
                • Exhibit 86: Suntory Holdings Ltd. - Overview
                • Exhibit 87: Suntory Holdings Ltd. - Business segments
                • Exhibit 88: Suntory Holdings Ltd. - Key news
                • Exhibit 89: Suntory Holdings Ltd. - Key offerings
                • Exhibit 90: Suntory Holdings Ltd. - Segment focus
              • 11.12 William Grant and Sons Ltd.
                • Exhibit 91: William Grant and Sons Ltd. - Overview
                • Exhibit 92: William Grant and Sons Ltd. - Product and service
                • Exhibit 93: William Grant and Sons Ltd. - Key offerings

              12 Appendix

              • 12.1 Scope of the report
                • 12.2 Currency conversion rates for US$
                  • Exhibit 94: Currency conversion rates for US$
                • 12.3 Research methodology
                  • Exhibit 95: Research Methodology
                  • Exhibit 96: Validation techniques employed for market sizing
                  • Exhibit 97: Information sources
                • 12.4 List of abbreviations
                  • Exhibit 98: List of abbreviations

                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
                Technavio

                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
                Technavio

                TechnavioREPORT WRITING

                Qualitative

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

                Quantitative

                • Market size and forecast
                • Market segmentation
                • Geographical insights
                • Competitive landscape
                Interested in this report?
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                Rum Market market growth will increase by $73.66 mn L during 2021-2025.
                The rum market market is expected to grow at a CAGR of 1.31% during 2021-2025.
                Technavio has segmented the rum market market 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).
                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 market.
                APAC will register the highest growth rate of 53% among the other regions. Therefore, the rum market 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 market growth are:
                • growing demand for premium varieties of rum
                • Rise in inorganic growth
                The rum market 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.
                • What are the key global market and the regional market share?
                • What are the revenue-generating key market segments?
                • What are the key factors driving and challenging this market’s growth?
                • Who are the key market vendors and their growth strategies?
                • What are the latest trends influencing the growth of this market?
                • What are the variables influencing the market growth in the primary regions?
                • What are the factors influencing the growth of the parent market?
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                • Detailed vendors report with competitive landscape
                • Covid-19 impact and recovery analysis
                • Data on revenue-generating market segments
                • Details on the market shares of various regions
                • Five-force market analysis

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