Rhum Agricole Market Segmented By Blanc, Amber, Vieux Variant Used in Household, HoReCa and Distributed over e-Commerce, Modern Trade
Industry: Food and Beverages
Delivery Timelines: Please Contact Sales
Published Date: May-2023
Format: PPT*, PDF, EXCEL
Number of Pages: 245
ID: PMRREP29641
The universal revenue generated from the sales of rhum agricole is predicted at US$ 1,550.6 Million in 2023 and is projected to grow at rate of 3.5% value CAGR in the impending years, attributing to the rapid urbanization and growing consumption of alcohol across the globe. According to the PMR analyst,the rhum agricole market is estimated to reach valuation of around US$ 2,381 Million by end of 2033.
|
Rhum Agricole Market Size (2023E) |
US$ 1,550.6 Million |
|
Projected Sales of Rhum Agricole (2033F) |
US$ 2,381 Million |
|
Value CAGR (2023-2033) |
3.5% |
|
Value Share of Top 4 Countries (2022 A) |
37.8% |
In the preceding years (2018-2022), the rhum agricole market exhibited the growth rate of around 2.7% value CAGR and incurred the sales of approximately US$ 1,498.1 Million by end of 2022. Furthermore, the sales of rhum agricole through modern trade distribution channel was recorded at US$ 173.9 Million in year 2022.
Rhum Agricole is a type of rum which is originally distilled from the fresh sugar cane juice rather than molasses. Rhum Agricole is prominently manufactured in Martinique, a French West Indies area and other few areas including some Indian Ocean islands and in some parts of South America. Rhum Agricole is different from the rum due to it possess the different specialties from rum.
In Martinique, rhum agricole can only produce when maturity of sugarcane on its peak which resulted to the limited production of the product. rhum agricole is further classified into the three categories on the based on its aging process which are Blanc or White, Amber or Brown, and Vieux and Aged.
Moreover, many enthusiastic consumers tend to mix rhum agricole to cocktails in order to explore and harness unique flavors. The popularity of such cocktail drinks proves to be a positive factor for the rhum agricole market and is likely to drive the market by the growth of rate of 3.5% during 2023-2033.
“Increasing Urban Population Will Propel the Demand for Alcoholic Drinks”
World urban population is growing at rapid rate and almost accounts for 55% of the world’s overall population. The urban population is expected to witness a steady Y-o-Y growth of around 1.5% over the forecast period. Increasing urban population, coupled with factors such as increasing disposable incomes, modernization, and growing preference for alcoholic drinks, is expected to lead to the growth of the rhum agricole market across the globe.
“Growing Penetration of E-Commerce to Have a Positive Impact on the Rhum Agricole Market”
It is easy these days to buy anything and everything using various e-commerce sites as well as online stores. Alcoholic beverages are no exception to this trend. E-commerce channels as well as DTC (Direct to Consumer) channels that sell spirits are increasing day-by-day. DTC players are selling spirits directly to consumers at stores as well as via online channels. Third party cocktail clubs, which deliver special curated spirits as well as premium cocktail ingredients such as rhum agricole, are increasingly becoming popular. Some startups provide an e-commerce platform, which delivers alcoholic beverages from local breweries or stores directly to the consumers. Thus, with the increasing penetration of such mediums as well as implementation of new business models, the sales of spirits like rhum agricole are expected to increase at a potential rate.
“Popularity of Alcoholic Drinks among Adolescents and Millennials”
Increasing number of individuals are consuming alcoholic drinks across the globe, owing to the perception that alcohol reduces stress and relax the mind. With the growing influence of internet, as well as social media, there is an increase in the number of social parties and group outings, which ultimately lead to an increase in the consumption rum and its variants such as rhum agricole. Growing disposable incomes, especially in developing countries of the Asia Pacific region, are leading to lifestyle changes in youngsters in the region, leaving a positive impact on the rhum agricole market. Rising number of people with high income as well as good social network influence, is making it easy for alcohol companies to increase their consumer base. The increasing number of alcohol consumers ultimately proves to be a positive factor for the growth of the rhum agricole market.
“High Cost and Lower Awareness of Rum Variants”
Rhum agricole is only produced only in certain areas of West France, Caribbean islands, Mauritius as well as some parts of Central and North America. Thus, there is lower awareness as well as popularity of this variant of rum among consumers, especially from developing as well as developed countries. Rhum agricole is considered as one of the premium category spirits and thus, is costlier than traditional spirits. The high cost as well as less popularity are some of the factors that are hindering the market growth.
Which region is anticipated to dominate the global rhum agricole market?
Europe market is expected to dominate global rhum agricole market in terms of revenue in 2023, and the trend is projected to grow throughout the forecast period. Europe rhum agricole market is the most attractive market, growing at a value CAGR of 2.7% over the forecast period (2023-2033).
What is consumption outlook for rhum agricole in Asia?
The sales of rhum agricole in Asia is projected at US$ 349.3 Mn in 2023 and is anticipated to grow at 4.7% value CAGR to reach the valuation of around US$ 540.5 Mn by end of 2033. The growing of number of lounges & bar outlets in the Asia is profiting the rhum agricole market.
Which type of rhum agricole is gaining high demand across the globe?
Among the global rhum agricole market variant type, the largest is Vieux, which represents US$ 606.1 Mn of the market and 42.9% of value share in 2023. Furthermore, the market has an absolute opportunity of US$ 24.3 Mn by 2023 end.
What is the sales of rhum agricole in the foodservice (HoReCa) sector?
The largest share is held by HoReCa segment in global rhum agricole market. The revenue of rhum agricole from foodservice is valued at US$ 975.1 Mn, in 2023. These segment holds around 64.4% of the market, and is predicted to incur sales of around US$ 1,247.0 Mn in 2033.
The players engaged in the rhum agricole market are focusing on producing high quality products with the support of advance technology and aims to supply certified products across the globe. PMR predicts the companies will continue to grow, with high quality products as well as unique marketing strategies and reach new heights in the global rhum agricole market.
The distillery or producers of rhum agrocile showed how strategic branding and commercialization strategy supported by IP assets can open new markets for producers. In addition, comprehensive manufacturing and distribution capabilities, coupled with key partnerships have firmly established manufacturers to gain high profit margins in the highly competitive global landscape.
|
Attribute |
Details |
|
Forecast period |
2023-2033 |
|
Historical data available for |
2018-2022 |
|
Market analysis |
USD million for value |
|
Key regions covered |
|
|
Key countries covered |
|
|
Key market segments covered |
|
|
Key companies profiled |
|
|
Report coverage |
|
|
Customization & pricing |
Available upon request |
By Variant Type:
By End Use:
By Distribution Channel:
By Region:
To know more about delivery timeline for this report Contact Sales
The global market for rhum agricole has a value of US$ 1,550.6 Mn in 2023.
The global market for rhum agricole has a value CAGR of 2.7% from 2018-2022.
The global market for rhum agricole has a value of US$ 2,381 Mn in 2033.
The global market for rhum agricole has a value CAGR of 3.5% from 2023-2033.
Some key players in the global rhum agricole market include Rhum Clément, Distillerie J.M., Distillerie Saint-James, La Favorite Distillery, Distillerie Damoiseau, Distillerie Neisson, Bellonnie & Bourdillon Successeurs, and others.
