Rum is a distilled alcoholic beverage made from sugarcane byproducts such as molasses or sugarcane juice. It is a popular spirit globally, and the rum market has seen steady growth in recent years. According to a report by PMR, the global Rum market size was valued at $15.7 billion in 2018 and is projected to reach $21.9 billion by 2025, growing at a CAGR of 4.6% during the forecast period (2019-2025).
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The demand for rum is driven by several factors, including its versatility as a mixer in cocktails, the increasing popularity of premium and artisanal spirits, and the growing trend of experiential drinking and the rise of rum tourism. Additionally, rum has a strong cultural and historical association with certain regions such as the Caribbean, which further drives demand.The rum market is segmented by type, including white, dark, and spiced rum. White rum is the most popular type, often used in cocktails, while dark rum is typically aged for longer periods and has a richer, fuller flavor profile. Spiced rum is flavored with various spices such as cinnamon, nutmeg, and vanilla.
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Companies Covered in This Report –
- Diageo PLC
- Pernod Ricard SA
- William Grant & Sons Ltd.
- Remy Cointreau Group
- Westerhall Estate Ltd.
- Cayman Spirits Co.
- Mohan Meakin Ltd.
- Halewood International Holdings PLC
- Suntory Holdings Limited
- Elements Eight Rum Company Ltd
- Bacardi Limited
- Radico Khaitan Limited
- Davide Campari-Milano S.p.A.
- Green Tree Distillery
- La Martiniquaise
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Rum Market Industry Research by Category
- Rum Market By Type : White Rum, Light/Gold Rum, Dark Rum, Spiced Rum
- Rum Market By Nature : Organic, Conventional
- Rum Market By Sales Channel : Business to Business, Business to Consumer :
- Hypermarkets/Supermarkets, Specialty Stores, Online Retail, Others
- Rum Market By Region: North America, Latin America, Europe, South Asia & Pacific, East Asia, Middle East & Africa
The rum market is also influenced by various regulatory and trade factors, such as tariffs, import/export regulations, and taxes. Additionally, the industry is subject to environmental and social concerns related to sugarcane production and labor practices
Overall, the rum market is expected to continue to grow in the coming years, driven by increasing demand from consumers around the world who appreciate the unique flavor and character of this popular spirit.
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