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PUBLISHER: Grand View Research | PRODUCT CODE: 1076691

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PUBLISHER: Grand View Research | PRODUCT CODE: 1076691

Rum Market Size, Share & Trends Analysis Report By Product Type (Dark & Golden Rum, White Rum, Flavored & Spiced Rum), By Distribution Channel (Offline Trading, Online Trading), By Region, And Segment Forecasts, 2022 - 2028

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Rum Market Growth & Trends:

The global rum market size is expected to reach USD 16.08 billion by 2028, registering a CAGR of 5.2% over the forecast period, according to a new report by Grand View Research, Inc. Rum is one of the most consumed spirits in the world. The growing preference for alcoholic drinks and their varieties among millennials is boosting the demand for flavored and premium alcoholic beverages. Increased per capita income in developed and developing economies is one of the prime reasons for the rising demand for premium spirits in the global market.

Rum is extensively used for making cocktails, which is driving its demand globally. Innovations in cocktails have also opened new opportunities for this spirits category. The rising trend of flavored and spiced alcohol beverages among consumers has encouraged market players to launch new varieties in the market. In 2020, rum was declared the "drink of lockdown" by the Wine and Spirit Trade Association, as it showed the biggest growth among all spirits during the COVID-19 lockdown.

Additionally, companies such as Bacardi Limited and Pernod Ricard have been investing and expanding their spirits business. For instance, in 2021, Pernod Ricard bought a minority position in Brazil-based Bumbu Rum Company. Bacardi Limited introduced Reserva Ocho Sherry Cask Finish the same year and also expanded its range of canned rums with additional flavors of Bacardi Mojito, Bacardi Bahama Mama, and Bacardi Sunset Punch. Trends such as customization and the addition of unique flavors to spirits are expected to grow in the coming years.

Health benefits associated with the consumption of rum in moderate quantities are also expected to drive market growth. Limited consumption leads to a healthy heart and builds immunity against the common cold. It also alleviates diabetes by lowering sugar levels in the blood. Growing urban population, rising per capita income, consumer willingness to pay for premium brands, and increasing preference of younger generations for drinking establishments such as nightclubs, pubs, breweries, and bars are other factors propelling the market growth.

The COVID-19 pandemic adversely affected the global alcoholic beverages market. Several countries imposed lockdowns in 2020 to mitigate the spread of the virus. Due to these lockdowns, operations in places such as restaurants, bars, pubs, and nightclubs came to a halt, leading to low sales of alcoholic beverages. Liquor producers faced many challenges in terms of development, production, supply chain, and sustainability. The pandemic disrupted the supply chain forcing them to remodel their business and market strategies. Innovative developmental strategies are expected to bolster the growth of the market in the coming years.

Rum Market Report Highlights:

  • The offline trading segment accounted for the highest share of over 75% of the global revenue in 2021 and is expected to grow significantly over the forecast period due to greater customer inclination toward supermarkets/hypermarkets
  • The dark and golden rum segment contributed the largest share of over 45% of the global revenue in 2021 owing to the growing demand for the type from millennials
  • Asia Pacific accounted for the largest market share of over 40% of the global revenue in 2021, primarily due to the increasing urban population, rise in disposable income, and rising popularity of spirits among the younger generation
  • North America is estimated to be the fastest-growing market from 2022 to 2028, owing to the presence of a large number of global producers, rising demand for premium spirits, and increased consumption of flavored and spiced spirits in cocktails
Product Code: GVR-4-68039-924-1

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. GVR's 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 Outlook
  • 2.3. Distribution Channel Outlook
  • 2.4. Competitive Insights

Chapter 3. Rum Market Variables, Trends & Scope

  • 3.1. Market Introduction
  • 3.2. Penetration & Growth Prospect Mapping
  • 3.3. Industry Value Chain Analysis
    • 3.3.1. Sales/Retail Channel Analysis
    • 3.3.2. Profit Margin Analysis
  • 3.4. Market Dynamics
    • 3.4.1. Market Driver Analysis
    • 3.4.2. Market Restraint Analysis
    • 3.4.3. Industry Challenges
    • 3.4.4. Industry Opportunities
  • 3.5. Business Environment Analysis
    • 3.5.1. Industry Analysis - Porter's
      • 3.5.1.1. Supplier Power
      • 3.5.1.2. Buyer Power
      • 3.5.1.3. Substitution Threat
      • 3.5.1.4. Threat from New Entrant
      • 3.5.1.5. Competitive Rivalry
  • 3.6. Roadmap of Rum Market
  • 3.7. Market Entry Strategies
  • 3.8. Impact of COVID-19

Chapter 4. Consumer Behavior Analysis

  • 4.1. Consumer Trends and Preferences
  • 4.2. Factors Affecting Buying Decision
  • 4.3. Consumer Product Adoption
  • 4.4. Observations & Recommendations

Chapter 5. Rum Market: Product Type Estimates & Trend Analysis

  • 5.1. Product Type Movement Analysis & Market Share, 2021 & 2028
  • 5.2. Dark and Golden Rum
    • 5.2.1. Market Estimates and Forecast, 2017 - 2028, (USD Million)
  • 5.3. White Rum
    • 5.3.1. Market Estimates and Forecast, 2017 - 2028, (USD Million)
  • 5.4. Flavored and Spiced Rum
    • 5.4.1. Market Estimates and Forecast, 2017 - 2028, (USD Million)
  • 5.5. Others
    • 5.5.1. Market Estimates and Forecast, 2017 - 2028, (USD Million)

Chapter 6. Rum Market: Distribution Channel Estimates & Trend Analysis

  • 6.1. Distribution Channel Movement Analysis & Market Share, 2021 & 2028
  • 6.2. Offline Trading
    • 6.2.1. Market Estimates and Forecast, 2017 - 2028, (USD Million)
  • 6.3. Online Trading
    • 6.3.1. Market Estimates and Forecast, 2017 - 2028, (USD Million)

Chapter 7. Rum Market: Regional Estimates & Trend Analysis

  • 7.1. Regional Movement Analysis & Market Share, 2021 & 2028
  • 7.2. North America
    • 7.2.1. Market Estimates and Forecast, 2017 - 2028, (USD Million)
    • 7.2.2. Market Estimates and Forecast, By Product Type, 2017 - 2028, (USD Million)
    • 7.2.3. Market Estimates and Forecast, By Distribution Channel, 2017 - 2028, (USD Million)
    • 7.2.4. U.S.
      • 7.2.4.1. Market Estimates and Forecast, 2017 - 2028, (USD Million)
      • 7.2.4.2. Market Estimates and Forecast, By Product Type, 2017 - 2028, (USD Million)
      • 7.2.4.3. Market Estimates and Forecast, By Distribution Channel, 2017 - 2028, (USD Million)
    • 7.2.5. Canada
      • 7.2.5.1. Market Estimates and Forecast, 2017 - 2028, (USD Million)
      • 7.2.5.2. Market Estimates and Forecast, By Product Type, 2017 - 2028, (USD Million)
      • 7.2.5.3. Market Estimates and Forecast, By Distribution Channel, 2017 - 2028, (USD Million)
  • 7.3. Europe
    • 7.3.1. Market Estimates and Forecast, 2017 - 2028, (USD Million)
    • 7.3.2. Market Estimates and Forecast, By Product Type, 2017 - 2028, (USD Million)
    • 7.3.3. Market Estimates and Forecast, By Distribution Channel, 2017 - 2028, (USD Million)
    • 7.3.4. Germany
      • 7.3.4.1. Market Estimates and Forecast, 2017 - 2028, (USD Million)
      • 7.3.4.2. Market Estimates and Forecast, By Product Type, 2017 - 2028, (USD Million)
      • 7.3.4.3. Market Estimates and Forecast, By Distribution Channel, 2017 - 2028, (USD Million)
    • 7.3.5. U.K.
      • 7.3.5.1. Market Estimates and Forecast, 2017 - 2028, (USD Million)
      • 7.3.5.2. Market Estimates and Forecast, By Product Type, 2017 - 2028, (USD Million)
      • 7.3.5.3. Market Estimates and Forecast, By Distribution Channel, 2017 - 2028, (USD Million)
    • 7.3.6. France
      • 7.3.6.1. Market Estimates and Forecast, 2017 - 2028, (USD Million)
      • 7.3.6.2. Market Estimates and Forecast, By Product Type, 2017 - 2028, (USD Million)
      • 7.3.6.3. Market Estimates and Forecast, By Distribution Channel, 2017 - 2028, (USD Million)
    • 7.3.7. Russia
      • 7.3.7.1. Market Estimates and Forecast, 2017 - 2028, (USD Million)
      • 7.3.7.2. Market Estimates and Forecast, By Product Type, 2017 - 2028, (USD Million)
      • 7.3.7.3. Market Estimates and Forecast, By Distribution Channel, 2017 - 2028, (USD Million)
    • 7.3.8. Italy
      • 7.3.8.1. Market Estimates and Forecast, 2017 - 2028, (USD Million)
      • 7.3.8.2. Market Estimates and Forecast, By Product Type, 2017 - 2028, (USD Million)
      • 7.3.8.3. Market Estimates and Forecast, By Distribution Channel, 2017 - 2028, (USD Million)
  • 7.4. Asia Pacific
    • 7.4.1. Market Estimates and Forecast, 2017 - 2028, (USD Million)
    • 7.4.2. Market Estimates and Forecast, By Product Type, 2017 - 2028, (USD Million)
    • 7.4.3. Market Estimates and Forecast, By Distribution Channel, 2017 - 2028, (USD Million)
    • 7.4.4. China
      • 7.4.4.1. Market Estimates and Forecast, 2017 - 2028, (USD Million)
      • 7.4.4.2. Market Estimates and Forecast, By Product Type, 2017 - 2028, (USD Million)
      • 7.4.4.3. Market Estimates and Forecast, By Distribution Channel, 2017 - 2028, (USD Million)
    • 7.4.5. Philippines
      • 7.4.5.1. Market Estimates and Forecast, 2017 - 2028, (USD Million)
      • 7.4.5.2. Market Estimates and Forecast, By Product Type, 2017 - 2028, (USD Million)
      • 7.4.5.3. Market Estimates and Forecast, By Distribution Channel, 2017 - 2028, (USD Million)
    • 7.4.6. India
      • 7.4.6.1. Market Estimates and Forecast, 2017 - 2028, (USD Million)
      • 7.4.6.2. Market Estimates and Forecast, By Product Type, 2017 - 2028, (USD Million)
      • 7.4.6.3. Market Estimates and Forecast, By Distribution Channel, 2017 - 2028, (USD Million)
  • 7.5. Central & South America
    • 7.5.1. Market Estimates and Forecast, 2017 - 2028, (USD Million)
    • 7.5.2. Market Estimates and Forecast, By Product Type, 2017 - 2028, (USD Million)
    • 7.5.3. Market Estimates and Forecast, By Distribution Channel, 2017 - 2028, (USD Million)
    • 7.5.4. Brazil
      • 7.5.4.1. Market Estimates and Forecast, 2017 - 2028, (USD Million)
      • 7.5.4.2. Market Estimates and Forecast, By Product Type, 2017 - 2028, (USD Million)
      • 7.5.4.3. Market Estimates and Forecast, By Distribution Channel, 2017 - 2028, (USD Million)
    • 7.5.5. Argentina
      • 7.5.5.1. Market Estimates and Forecast, 2017 - 2028, (USD Million)
      • 7.5.5.2. Market Estimates and Forecast, By Product Type, 2017 - 2028, (USD Million)
      • 7.5.5.3. Market Estimates and Forecast, By Distribution Channel, 2017 - 2028, (USD Million)
  • 7.6. Middle East & Africa
    • 7.6.1. Market Estimates and Forecast, 2017 - 2028, (USD Million)
    • 7.6.2. Market Estimates and Forecast, By Product Type, 2017 - 2028, (USD Million)
    • 7.6.3. Market Estimates and Forecast, By Distribution Channel, 2017 - 2028, (USD Million)
    • 7.6.4. South Africa
      • 7.6.4.1. Market Estimates and Forecast, 2017 - 2028, (USD Million)
      • 7.6.4.2. Market Estimates and Forecast, By Product Type, 2017 - 2028, (USD Million)
      • 7.6.4.3. Market Estimates and Forecast, By Distribution Channel, 2017 - 2028, (USD Million)

Chapter 8. Competitive Analysis

  • 8.1. Key Global Players, Recent Developments & Their Impact on the Industry
  • 8.2. Key Company/Competition Categorization (Key Innovators, Market Leaders, Emerging Players)
  • 8.3. Vendor Landscape
    • 8.3.1. Key Company Market Share Analysis, 2021

Chapter 9. Company Profiles

  • 9.1. Bacardi Limited
    • 9.1.1. Company Overview
    • 9.1.2. Financial Performance
    • 9.1.3. Product Benchmarking
    • 9.1.4. Strategic Initiatives
  • 9.2. Davide Campari-Milano N.V.
    • 9.2.1. Company Overview
    • 9.2.2. Financial Performance
    • 9.2.3. Product Benchmarking
    • 9.2.4. Strategic Initiatives
  • 9.3. Demerara Distillers Ltd
    • 9.3.1. Company Overview
    • 9.3.2. Financial Performance
    • 9.3.3. Product Benchmarking
    • 9.3.4. Strategic Initiatives
  • 9.4. Diageo Plc
    • 9.4.1. Company Overview
    • 9.4.2. Financial Performance
    • 9.4.3. Product Benchmarking
    • 9.4.4. Strategic Initiatives
  • 9.5. LT Group, Inc.
    • 9.5.1. Company Overview
    • 9.5.2. Financial Performance
    • 9.5.3. Product Benchmarking
    • 9.5.4. Strategic Initiatives
  • 9.6. Nova Scotia Spirit Co.
    • 9.6.1. Company Overview
    • 9.6.2. Financial Performance
    • 9.6.3. Product Benchmarking
    • 9.6.4. Strategic Initiatives
  • 9.7. Pernod Ricard SA
    • 9.7.1. Company Overview
    • 9.7.2. Financial Performance
    • 9.7.3. Product Benchmarking
    • 9.7.4. Strategic Initiatives
  • 9.8. Suntory Holdings Ltd
    • 9.8.1. Company Overview
    • 9.8.2. Financial Performance
    • 9.8.3. Product Benchmarking
    • 9.8.4. Strategic Initiatives
  • 9.9. William Grant & Sons Ltd
    • 9.9.1. Company Overview
    • 9.9.2. Financial Performance
    • 9.9.3. Product Benchmarking
    • 9.9.4. Strategic Initiatives
  • 9.10. Mohan Meakin Limited
    • 9.10.1. Company Overview
    • 9.10.2. Financial Performance
    • 9.10.3. Product Benchmarking
    • 9.10.4. Strategic Initiatives
Product Code: GVR-4-68039-924-1

List of Tables

  • Table 1. Rum Market - Key Market Driver Analysis
  • Table 2. Rum Market - Key Market Restraint Analysis
  • Table 3. Global Rum Market Estimates and Forecast, 2017 - 2028 (USD Million)
  • Table 4. Global Dark and Golden Rum Market Estimates and Forecast, 2017 - 2028 (USD Million)
  • Table 5. Global White Rum Market Estimates and Forecast, 2017 - 2028 (USD Million)
  • Table 6. Global Flavored and Spiced Rum Market Estimates and Forecast, 2017 - 2028 (USD Million)
  • Table 7. Global Rum Market Estimates and Forecast through Offline Trading, 2017 - 2028 (USD Million)
  • Table 8. Global Rum Market Estimates and Forecast through Online Trading, 2017 - 2028 (USD Million)
  • Table 9. North America Rum Market Estimates and Forecast, 2017 - 2028 (USD Million)
  • Table 10. North America Rum Market Revenue Estimates and Forecast, By Product Type, 2017 - 2028 (USD Million)
  • Table 11. North America Rum Market Revenue Estimates and Forecast, By Distribution Channel, 2017 - 2028 (USD Million)
  • Table 12. U.S. Rum Market Estimates and Forecast, 2017 - 2028 (USD Million)
  • Table 13. U.S. Rum Market Revenue Estimates and Forecast, By Product Type, 2017 - 2028 (USD Million)
  • Table 14. U.S. Rum Market Revenue Estimates and Forecast, By Distribution Channel, 2017 - 2028 (USD Million)
  • Table 15. Canada Rum Market Revenue Estimates and Forecast, 2017 - 2028 (USD Million)
  • Table 16. Canada Rum Market Revenue Estimates and Forecast, By Product Type, 2017 - 2028 (USD Million)
  • Table 17. Canada Rum Market Revenue Estimates and Forecast, By Distribution Channel, 2017 - 2028 (USD Million)
  • Table 18. Europe Rum Market Revenue Estimates and Forecast, 2017 - 2028 (USD Million)
  • Table 19. Europe Rum Market Revenue Estimates and Forecast, By Product Type, 2017 - 2028 (USD Million)
  • Table 20. Europe Rum Market Revenue Estimates and Forecast, By Distribution Channel, 2017 - 2028 (USD Million)
  • Table 21. Germany Rum Market Revenue Estimates and Forecast, 2017 - 2028 (USD Million)
  • Table 22. Germany Rum Market Revenue Estimates and Forecast, By Product Type, 2017 - 2028 (USD Million)
  • Table 23. Germany Rum Market Revenue Estimates and Forecast, By Distribution Channel, 2017 - 2028 (USD Million)
  • Table 24. U.K. Rum Market Revenue Estimates and Forecast, 2017 - 2028 (USD Million)
  • Table 25. U.K. Rum Market Revenue Estimates and Forecast, By Product Type, 2017 - 2028 (USD Million)
  • Table 26. U.K. Rum Market Revenue Estimates and Forecast, By Distribution Channel, 2017 - 2028 (USD Million)
  • Table 27. France Rum Market Revenue Estimates and Forecast, 2017 - 2028 (USD Million)
  • Table 28. France Rum Market Revenue Estimates and Forecast, By Product Type, 2017 - 2028 (USD Million)
  • Table 29. France Rum Market Revenue Estimates and Forecast, By Distribution Channel, 2017 - 2028 (USD Million)
  • Table 30. Russia Rum Market Estimates and Forecast, 2017 - 2028 (USD Million)
  • Table 31. Russia Rum Market Revenue Estimates and Forecast, By Product Type, 2017 - 2028 (USD Million)
  • Table 32. Russia Rum Market Revenue Estimates and Forecast, By Distribution Channel, 2017 - 2028 (USD Million)
  • Table 33. Italy Rum Market Estimates and Forecast, 2017 - 2028 (USD Million)
  • Table 34. Italy Rum Market Revenue Estimates and Forecast, By Product Type, 2017 - 2028 (USD Million)
  • Table 35. Italy Rum Market Revenue Estimates and Forecast, By Distribution Channel, 2017 - 2028 (USD Million)
  • Table 36. Asia Pacific Rum Market Estimates and Forecast, 2017 - 2028 (USD Million)
  • Table 37. Asia Pacific Rum Market Estimates and Forecast, By Product Type, 2017 - 2028 (USD Million)
  • Table 38. Asia Pacific Rum Market Estimates and Forecast, By Distribution Channel, 2017 - 2028 (USD Million)
  • Table 39. China Rum Market Estimates and Forecast, 2017 - 2028 (USD Million)
  • Table 40. China Rum Market Revenue Estimates and Forecast, By Product Type, 2017 - 2028 (USD Million)
  • Table 41. China Rum Market Revenue Estimates and Forecast, By Distribution Channel, 2017 - 2028 (USD Million)
  • Table 42. Philippines Rum Market Revenue Estimates and Forecast, 2017 - 2028 (USD Million)
  • Table 43. Philippines Rum Market Revenue Estimates and Forecast, By Product Type, 2017 - 2028 (USD Million)
  • Table 44. Philippines Rum Market Revenue Estimates and Forecast, By Distribution Channel, 2017 - 2028 (USD Million)
  • Table 45. India Rum Market Estimates and Forecast, 2017 - 2028 (USD Million)
  • Table 46. India Rum Market Revenue Estimates and Forecast, By Product Type, 2017 - 2028 (USD Million)
  • Table 47. India Rum Market Revenue Estimates and Forecast, By Distribution Channel, 2017 - 2028 (USD Million)
  • Table 48. Central & South America Rum Market Estimates and Forecast, 2017 - 2028 (USD Million)
  • Table 49. Central & South America Rum Market Revenue Estimates and Forecast, By Product Type, 2017 - 2028 (USD Million)
  • Table 50. Central & South America Rum Market Revenue Estimates and Forecast, By Distribution Channel, 2017 - 2028 (USD Million)
  • Table 51. Brazil Rum Market Estimates and Forecast, 2017 - 2028 (USD Million)
  • Table 52. Brazil Rum Market Revenue Estimates and Forecast, By Product Type, 2017 - 2028 (USD Million)
  • Table 53. Brazil Rum Market Revenue Estimates and Forecast, By Distribution Channel, 2017 - 2028 (USD Million)
  • Table 54. Argentina Rum Market Estimates and Forecast, 2017 - 2028 (USD Million)
  • Table 55. Argentina Rum Market Revenue Estimates and Forecast, By Product Type, 2017 - 2028 (USD Million)
  • Table 56. Argentina Rum Market Revenue Estimates and Forecast, By Distribution Channel, 2017 - 2028 (USD Million)
  • Table 57. Middle East & Africa Rum Market Estimates and Forecast, 2017 - 2028 (USD Million)
  • Table 58. Middle East & Africa Rum Market Revenue Estimates and Forecast By Product Type, 2017 - 2028 (USD Million)
  • Table 59. Middle East & Africa Rum market revenue estimates and forecast by distribution channel, 2017 - 2028 (USD Million)
  • Table 60. South Africa Rum Market Estimates and Forecast, 2017 - 2028 (USD Million)
  • Table 61. South Africa Rum Market Revenue Estimates and Forecast, By Product Type, 2017 - 2028 (USD Million)
  • Table 62. South Africa Rum Market Revenue Estimates and Forecast, By Distribution Channel, 2017 - 2028 (USD Million)
  • Table 63. Vendor Landscape

List of Figures

  • Fig. 1 Rum Market Snapshot
  • Fig. 2 Rum Market Segmentation & Scope
  • Fig. 3 Rum Market Penetration & Growth Prospect Mapping
  • Fig. 4 Rum Market Value Chain Analysis
  • Fig. 5 Rum Market Dynamics
  • Fig. 6 Rum Market: Porter's Five Forces Analysis
  • Fig. 7 Rum Market: Product Type Movement Analysis, 2021 & 2028
  • Fig. 8 Rum Market: Distribution Channel Movement Analysis, 2021 & 2028
  • Fig. 9 Rum Market: Regional Movement Analysis, 2021 & 2028
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