Standard rum segment is estimated to account for more than 70% share of the global rum market by 2018 end, which is expected to remain consistent by 2026 end
Persistence Market Research offers an eight-year forecast for the global rum market between 2018 and 2026. In a recently released report by the company, the global rum market is expected to register a CAGR of 2.2% during the forecast period. The primary objective of the report is to offer insights on the advancements and opportunity in the rum market. The study demonstrates market dynamics that are expected to influence the current challenges and future status of the global rum market over the forecast period. This report also offers updates on trends, drivers, restraints, value forecasts, and opportunities for manufacturers operating in the global and regional rum markets.
The scope of our study for rum includes commercially important rum available in the market.
The global rum market has witnessed impressive growth over the last couple of years driven by a number of favorable factors. Growing urban population coupled with rising disposable incomes in emerging economies is leading individuals to explore new forms of entertainment such as night parties and spending time at bars, pubs, and lounges. Further, young adults with spending power, social media influence, and easy access to alcoholic drinks are other prominent factors driving sales of alcoholic beverages. In urban areas, high pressure jobs and the perception that consumption of alcohol is relaxing to the mind is leading to the increased consumption of rum.
Manufacturers of rum that are continuously launching new products with unique flavors. Curiosity among consumers especially among millennials is attracting them to try these products, which is having a positive bearing on the rum market.
White Rum to Showcase Exponential Growth
The global rum market by rum type is segmented into white, golden, dark, and spiced. The white rum segment is anticipated to grow at a robust CAGR in the global rum market over the forecast period owing to rising demand for alcohol beverages among continuous launches of flavored alcoholic drinks. Consumers across the globe are demanding for alcoholic beverages which is pushing the revenue generation of the white rum segment, hence the global rum market in the near future. Furthermore, demand for super and ultra-premium rum has created tremendous opportunities in the global rum market.
Higher Permeation in Liquor shops Across Channels
By distribution channel, the global rum market is segmented into hypermarket/supermarkets and liquor shops. The liquor shops segment followed by hypermarket/supermarket segment is expected to account for significant market share in the global rum market in the near future.
Changing Lifestyles and Western Influence Catapult Asia Pacific Alcoholic Beverages Market
The global rum report includes market share of each segment according to the region with analysis towards market trends respectively. By region the global rum market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa. Popularity of rum among young consumers has been a prime factor contributing towards the market revenue generation in the rum category in respective countries. A section of the report highlights the global demand for rum, including per capita consumption patterns. It also provides a market outlook for 2018–2026 and sets the forecast within the context of the rum ecosystem, including the new product developments as well as product offerings in the global rum market. This study discusses key trends contributing to the growth of the global rum market, as well as analyses the degree to which drivers are influencing the global market.
In the final section of the global rum report, a competitive landscape has been included to provide report audiences with a dashboard view, as well as the sales in terms of number of cases of key manufacturers. Detailed profiles of the providers are also included in the scope of the report to evaluate their long-term and short-term strategies, key offerings and recent developments in the global rum market space.
The Persistence Market Research report on global rum market analyzes opportunities in the market and presents updates and insights pertaining to various segments of the global rum market over the forecast period, 2018–2026.
This report provides forecast and analysis of the global rum market. It provides historical data from 2013 to 2017 along with estimated data of 2018, and forecast data up to 2026 in terms of revenue (US$ Mn) and volume (liters). The report also includes macroeconomic indicators along with an outlook on rum for global market. It includes drivers and restraints of the global rum market and their impact on each region during the forecast period. The report also comprises the study of current issues with consumers and opportunities for rum products. It also includes value chain analysis.
In order to provide users of this report with comprehensive view of the market, we have included detailed competitiveness analysis and market key players and strategy overview. The study encompasses market attractiveness analysis by each segment covered as per the scope.
The report includes rum market company profiles and the revenue generated from the companies across North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa. The rum market is segmented on the basis of nature, rum type, proof type, distribution channel and region. On the basis of nature, the global rum market is segmented into organic and conventional. Organic certified products across the globe has contributed towards the increasing market growth rate of organic segment in the global rum market. On the basis of rum type, the global rum market is segmented into white rum, golden rum, dark rum, spiced rum. An increasing number of individuals are consuming alcoholic drinks across the globe, owing to the perception that they relax the state of mind. Changing lifestyles, influence of social media and the Internet, and increasing social parties are also expected to increase the sales of rum across the globe. Adolescents with high social network influence, greater family incomes, and others have easier access to alcoholic drinks, and are likely to consume more alcohol. On the basis of distribution channel, the global rum market is segmented into direct and indirect sales channel. The direct sales channel segment is expected to grow at a significant CAGR in the global rum market. The indirect sales channel segment is further segmented into liquor shops, hypermarkets/supermarkets, and online retail.
This report covers trends driving each segment and offers analysis and insights into the potential of the rum market in specific regions. Detailed profiles of the providers are also included in the scope of the report to evaluate their long-term and short-term strategies, key offerings and recent developments in the rum space. Rum market participants include, Bacardi Limited, Diageo PLC, Pernod Ricard SA, Admiral Nelson’s Rum, Ltd, William Grant & Sons Ltd., Remy Cointreau USA, Inc, Maine Craft Distilling, LLC, Lyon Distilling Co, Westerhall Rums, Cayman Spirits Co, Hampden Estate Rum Tours, Halewood International Holdings PLC, Mount Gay Distilleries Ltd, Suntory Holdings Limited, and The Westbourne Drinks Co.
Global Rum Market – By Nature
Global Rum Market – By Rum Type
Global Rum Market – By Proof Type
Global Rum Market – By Distribution Channel
Global Rum Market – By Region
The global rum report begins with estimating the market in the base year in terms of retail sales and volume consumption. To arrive at the volume consumption of rum, overall consumption of alcoholic beverages across the globe has been taken into consideration. Furthermore, Persistence Market Research estimated volume data on consumption of rum for several countries by understanding the per-capita consumption. PMR then determined the volume consumption of rum across various regions including North America, Latin America, Europe and Asia Pacific. Various factors such as production, per capita consumption of alcoholic beverages, per capita spending on alcoholic beverages have been taken into consideration to arrive at the volume consumption of rum in respective countries.
Weighted average selling price for rum was considered to estimate the market size for top countries. These prices were captured in their respective countries and then converted into USD to offer forecasts in one consistent currency standard. Given the characteristics of the market, PMR triangulated the data based on supply side, demand side, and dynamics of the global rum market. To develop the global rum market forecast, PMR analyzed various factors to understand their respective impact on the target market. However, quantifying the market across the abovementioned segments is more a matter of quantifying expectations and identifying opportunities rather than rationalizing them after the forecast has been completed.
It is imperative to note that in an ever-fluctuating economy, we not only provide forecasts in terms of CAGR but also analyze on the basis of key parameters, such as year-on-year (Y-o-Y) growth, to understand predictability of the market and identify the right opportunities. Another key feature of this report is analysis of the global rum market and the corresponding revenue forecast in terms of absolute dollar opportunity. This is usually overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales perspective in the global rum market.
To understand key segments in terms of their growth and performance in the global rum market, Persistence Market Research has also presented a market attractiveness index. The resulting index should help providers identify existing market opportunities in the global rum market. The report covers an in-depth analysis of all components of value chain in the global rum market. In the final section of the report on the global rum market, competitive landscape is included to provide a dashboard view of some of the key rum manufacturers globally.