Product Code: GVR-4-68039-200-4
Craft Rum Market Growth & Trends:
The global craft rum market size is expected to reach USD 1.89 billion by 2030, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.9% from 2025 to 2030. The growing demand for authentic alcoholic beverages among the younger generation drives the demand for craft rum and other spirits. These drinks have a smooth taste, authentic flavor, and high-end quality. These attributes of the product have been attracting consumers seeking to explore new tastes and drinking experiences. Furthermore, social media and magazines are influencing consumers to opt for these premium spirits. However, the high cost of production may hinder the growth of the industry.
Europe dominated the market in 2024 with more than 38.3% share of the total revenue. The rising number of manufacturers in the European countries, including the U.K. and Germany, has been boosting the regional growth. Asia Pacific is expected to witness significant growth in the forecast period in light of the growing cocktail culture trend, increasing purchasing power, and rapid urbanization in the countries, including India and the Philippines.
In June 2020, Matugga Distillers Limited launched a new collection, The Liv Rum, which includes two white rums, a spiced rum, and two flavored drinks. The company has handcrafted the entire process and used natural and seasonal raw materials. The two flavors available include raspberry & hibiscus, and honey & lavender. Similarly, in August 2019, Rockstar Spirits Ltd. introduced two new flavors: cherry and grapefruit. These innovative flavored products are expected to attract more consumers.
Over the past few years, the craft rum manufacturing companies have invested in the promotion of their beverages by emphasizing their country of origin (as countries such as Barbados, The Philippines, Guyana, Cuba, and Jamaica are known for their high-quality rums), age, and organic certificates. According to the Bacardi 2020 Cocktail Trends Report, consumers seek quality drinks with an interesting story, craft credentials, and origin.
Craft Rum Market Report Highlights:
- Asia Pacific is expected to register the fastest CAGR of 6.2% from 2025 to 2030 owing to the growing trend of cocktail culture in the region
- The on-trade distribution channel segment dominated the market by accounting for over 62.2% share of the global revenue in 2024 as a large number of consumers prefer to drink at restaurants, bars, and pubs
- Product innovation is expected to remain one of the key success factors among the industry participants.
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 Snapshot
- 2.2. Segment Snapshot
- 2.3. Competitive Landscape Snapshot
Chapter 3. Craft 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 Craft Rum Market
- 3.7. Market Entry Strategies
Chapter 4. Consumer Behavior Analysis
- 4.1. Demographic Analysis
- 4.2. Consumer Trends and Preferences
- 4.3. Factors Affecting Buying Decision
- 4.4. Consumer Product Adoption
- 4.5. Observations & Recommendations
Chapter 5. Craft Rum Market: Distribution Channel Estimates & Trend Analysis
- 5.1. Craft Rum Market, By Distribution Channel: Key Takeaways
- 5.2. Distribution Channel Movement Analysis & Market Share, 2024 & 2030
- 5.3. Market Estimates & Forecasts, by Distribution Channel, 2018 - 2030 (USD Billion)
- 5.3.1. On-trade
- 5.3.1.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 5.3.2. Off-trade
- 5.3.2.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
Chapter 6. Craft Rum Market: Regional Estimates & Trend Analysis
- 6.1. Craft Rum Market: Regional Outlook
- 6.2. Regional Marketplaces: Key Takeaways
- 6.3. Market Estimates & Forecasts, by Region, 2018 - 2030 (USD Billion)
- 6.3.1. North America
- 6.3.1.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 6.3.1.2. U.S.
- 6.3.1.2.1. Key country dynamics
- 6.3.1.2.2. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 6.3.1.3. Canada
- 6.3.1.3.1. Key country dynamics
- 6.3.1.3.2. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 6.3.1.4. Mexico
- 6.3.1.4.1. Key country dynamics
- 6.3.1.4.2. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 6.3.2. Europe
- 6.3.2.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 6.3.2.2. U.K.
- 6.3.2.2.1. Key country dynamics
- 6.3.2.2.2. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 6.3.2.3. Germany
- 6.3.2.3.1. Key country dynamics
- 6.3.2.3.2. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 6.3.2.4. France
- 6.3.2.4.1. Key country dynamics
- 6.3.2.4.2. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 6.3.2.5. Italy
- 6.3.2.5.1. Key country dynamics
- 6.3.2.5.2. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 6.3.2.6. Spain
- 6.3.2.6.1. Key country dynamics
- 6.3.2.6.2. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 6.3.3. Asia Pacific
- 6.3.3.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 6.3.3.2. China
- 6.3.3.2.1. Key country dynamics
- 6.3.3.2.2. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 6.3.3.3. India
- 6.3.3.3.1. Key country dynamics
- 6.3.3.3.2. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 6.3.3.4. Japan
- 6.3.3.4.1. Key country dynamics
- 6.3.3.4.2. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 6.3.3.5. Australia & New Zealand
- 6.3.3.5.1. Key country dynamics
- 6.3.3.5.2. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 6.3.4. Latin America
- 6.3.4.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 6.3.4.2. Brazil
- 6.3.4.2.1. Key country dynamics
- 6.3.4.2.2. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 6.3.4.3. Argentina
- 6.3.4.3.1. Key country dynamics
- 6.3.4.3.2. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 6.3.5. Middle East & Africa
- 6.3.5.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 6.3.5.2. South Africa
- 6.3.5.2.1. Key country dynamics
- 6.3.5.2.2. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 6.3.5.3. UAE
- 6.3.5.3.1. Key country dynamics
- 6.3.5.3.2. Market estimates and forecast, 2018 - 2030 (USD Billion)
Chapter 7. Craft Rum Market: Competitive Analysis
- 7.1. Key global players, recent developments & their impact on the industry
- 7.2. Key Company/Competition Categorization (Key innovators, Market leaders, Emerging players)
- 7.3. Vendor Landscape
- 7.4. Participant's Overview
- 7.5. Financial Performance
- 7.6. Product Benchmarking
- 7.7. Company Heat Map Analysis
- 7.8. Strategy Mapping
- 7.9. Company Profiles
- 7.9.1. Bacardi Limited
- 7.9.1.1. Company Overview
- 7.9.1.2. Financial Performance
- 7.9.1.3. Product Portfolios
- 7.9.1.4. Strategic Initiatives
- 7.9.2. Suntory Holdings Limited
- 7.9.2.1. Company Overview
- 7.9.2.2. Financial Performance
- 7.9.2.3. Product Portfolios
- 7.9.2.4. Strategic Initiatives
- 7.9.3. Diageo
- 7.9.3.1. Company Overview
- 7.9.3.2. Financial Performance
- 7.9.3.3. Product Portfolios
- 7.9.3.4. Strategic Initiatives
- 7.9.4. Maine Craft Distilling, LLC
- 7.9.4.1. Company Overview
- 7.9.4.2. Financial Performance
- 7.9.4.3. Product Portfolios
- 7.9.4.4. Strategic Initiatives
- 7.9.5. Charles Merser & Co.
- 7.9.5.1. Company Overview
- 7.9.5.2. Financial Performance
- 7.9.5.3. Product Portfolios
- 7.9.5.4. Strategic Initiatives
- 7.9.6. Drum & Black Rum Company
- 7.9.6.1. Company Overview
- 7.9.6.2. Financial Performance
- 7.9.6.3. Product Portfolios
- 7.9.6.4. Strategic Initiatives
- 7.9.7. Wicked Dolphin Rum
- 7.9.7.1. Company Overview
- 7.9.7.2. Financial Performance
- 7.9.7.3. Product Portfolios
- 7.9.7.4. Strategic Initiatives
- 7.9.8. Domaines Ellam and Arizona Craft Beverage
- 7.9.8.1. Company Overview
- 7.9.8.2. Financial Performance
- 7.9.8.3. Product Portfolios
- 7.9.8.4. Strategic Initiatives
- 7.9.9. Rockstar Spirits Ltd.
- 7.9.9.1. Company Overview
- 7.9.9.2. Financial Performance
- 7.9.9.3. Product Portfolios
- 7.9.9.4. Strategic Initiatives
- 7.9.10. Belize Spirits Marketing, Inc.
- 7.9.10.1. Company Overview
- 7.9.10.2. Financial Performance
- 7.9.10.3. Product Portfolios
- 7.9.10.4. Strategic Initiatives