Product Code: GVR-4-68039-924-1
Rum Market Growth & Trends:
The global rum market size is estimated to reach USD 23.62 billion by 2030, expanding at a CAGR of 4.3% from 2025 to 2030, according to a new report by Grand View Research, Inc. Rum is one of the most consumed beverages in all spirits, and consumers are highly inclined towards flavored and premium alcoholic beverages. Factors such as the growing urban population coupled with rising per capita income, consumers' willingness to pay for premium brands, and younger generations increased footprints in places like nightclubs, pubs, and bars are expected to propel the market growth.
The high demand for flavored and spiced rums observed in recent years is driving the growth of the overall market. Rum is also extensively used for shakers, drink mixes, and cocktails thereby driving its demand among consumers. For instance, as per Wine and Spirit Trade Association in 2020, rum was declared the "drink of lockdown" owing to the availability of flavor-infused varieties. The change in consumer tastes and the growing demand for small-batch, handcrafted rum with darker/bolder flavor profiles are contributing to the growth of the market. For instance, Ron Zacapa 23 is made with brown sugar and hints of chocolate and caramel. This expression blends six to 23-year-old rum using the solera process, which combines younger and older liquids in oak casks. Such flavors have a higher preference among regular rum drinkers.
Technology-driven trends in the aging process of the product have changed consumer preferences to a considerable extent. Consumers largely opt for aged rum with darker and bolder flavors. The trends in product sales are largely driven by brand awareness, shopping frequency, and expenditure capability of different buyers. The purchasing habits of younger consumers are often influenced by the price point and brand position. A key observation in the buying behavior of millennials is the preference for brands available on online platforms, after comparing price and style.
The market growth is anticipated to be driven by the positive health associations linked to moderate consumption. When consumed in limited amounts, rum is believed to offer various health benefits, including promoting a healthy heart, aiding in the fight against common colds, and potentially benefiting individuals with diabetes by helping to lower blood sugar levels.
Moreover, countries like India and the Philippines, renowned for their significant production and consumption of rum, play a crucial role as major contributors to the broader alcoholic beverage market. These countries' cultural preferences and deep-rooted traditions have solidified rum as a preferred choice among consumers, further bolstering its prominence in the market.
The global market is competitive and a number of global players play a vital role in driving its growth. Rum-producing companies are strengthening their presence by launching new products, mergers and acquisitions, and expansion of distribution channels. For instance, In August 2021, a UK-based brand, Arlu Rum, launched its first RTD cans in three flavors-passionfruit and mango mojito, blood orange and ginger beer, and spiced rum and cola.
Rum Market Report Highlights:
- The off-trade segment accounted for the highest revenue share of over 79.42% in 2024 and is expected to grow significantly over the forecast period
- The dark and golden rum segment contributed the largest revenue share of over 47.67% in 2024 owing to the growing demand from millennials
- Asia Pacific accounted for the largest revenue share of over 39.59% in 2024 and is expected to grow at a substantial CAGR from 2025 to 2030. The presence of a huge population, rise in disposable income, easy availability of products, and rising popularity of rum in the younger generation leads to a high market share
- The North America rum market is projected to grow at a CAGR of 4.8% from 2025 to 2030. This is owing to the presence of a large number of global producers, rising demand for premium rums, and increase consumption of flavored and spiced rums in cocktails
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Market Definition
- 1.3. Information channel 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 channel Analysis
- 1.4.1. Data Analysis Models
- 1.5. Market Distribution 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. Product Outlook
- 2.5. Competitive Landscape Outlook
Chapter 3. Rum Market Variables, Trends & Scope
- 3.1. Market Introduction
- 3.1.1. Rum Market Size & Growth Rate, 2018 - 2030 (USD Million)
- 3.2. Penetration & Growth Prospect Mapping
- 3.3. Industry Value Chain Analysis
- 3.3.1. Vending Machine Operator's 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. Market Opportunities
- 3.4.4. Market Challenges
- 3.5. Industry Analysis - Porter's Five Forces Analysis
- 3.6. Market Entry Strategies
Chapter 4. Rum Market: Consumer Behavior Analysis
- 4.1. Demographic Analysis
- 4.2. Consumer Trends & Preferences
- 4.3. Factors Influencing Buying Behavior
- 4.4. Consumer Product Adoption Trends
- 4.5. Key Observations & Findings
Chapter 5. Rum Market: Product Mode Estimates & Trend Analysis
- 5.1. Rum Market: Product Outlook
- 5.2. Product Movement Analysis & Market Share, 2024 & 2030
- 5.3. Market Estimates & Forecasts, by Product, 2018 - 2030 (USD Million)
- 5.3.1. Dark and Golden Rum
- 5.3.1.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 5.3.2. White Rum
- 5.3.2.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 5.3.3. Flavored and Spiced Rum
- 5.3.3.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 5.3.4. Others
- 5.3.4.1. Market estimates and forecast, 2018 - 2030 (USD Million)
Chapter 6. Rum Market: Distribution Channel Estimates & Trend Analysis
- 6.1. Rum Market, by Distribution Channel: Key Takeaways
- 6.2. Distribution Channel Movement Analysis & Market Share, 2024 & 2030
- 6.3. Market Estimates & Forecasts, by Location, 2018 - 2030 (USD Million)
- 6.3.1. Off-Trade
- 6.3.1.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 6.3.2. On-Trade
- 6.3.2.1. Market estimates and forecast, 2018 - 2030 (USD Million)
Chapter 7. Rum Market: Regional Estimates & Trend Analysis
- 7.1. Rum Market: Regional Outlook
- 7.2. Regional Movement Analysis & Market Share, 2024 & 2030
- 7.3. Market Estimates & Forecasts, by Region & Country, 2018 - 2030 (USD Million)
- 7.3.1. North America
- 7.3.1.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.3.1.2. U.S.
- 7.3.1.2.1. Key country dynamics
- 7.3.1.2.2. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.3.1.3. Canada
- 7.3.1.3.1. Key country dynamics
- 7.3.1.3.2. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.3.1.4. Mexico
- 7.3.1.4.1. Key country dynamics
- 7.3.1.4.2. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.3.2. Europe
- 7.3.2.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.3.2.2. Germany
- 7.3.2.2.1. Key country dynamics
- 7.3.2.2.2. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.3.2.3. UK
- 7.3.2.3.1. Key country dynamics
- 7.3.2.3.2. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.3.2.4. France
- 7.3.2.4.1. Key country dynamics
- 7.3.2.4.2. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.3.2.5. Italy
- 7.3.2.5.1. Key country dynamics
- 7.3.2.5.2. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.3.2.6. Russia
- 7.3.2.6.1. Key country dynamics
- 7.3.2.6.2. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.3.3. Asia Pacific
- 7.3.3.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.3.3.2. China
- 7.3.3.2.1. Key country dynamics
- 7.3.3.2.2. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.3.3.3. India
- 7.3.3.3.1. Key country dynamics
- 7.3.3.3.2. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.3.3.4. Japan
- 7.3.3.4.1. Key country dynamics
- 7.3.3.4.2. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.3.3.5. Australia
- 7.3.3.5.1. Key country dynamics
- 7.3.3.5.2. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.3.3.6. Philippines
- 7.3.3.6.1. Key country dynamics
- 7.3.3.6.2. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.3.4. Central & South America
- 7.3.4.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.3.4.2. Brazil
- 7.3.4.2.1. Key country dynamics
- 7.3.4.2.2. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.3.4.3. Argentina
- 7.3.4.3.1. Key country dynamics
- 7.3.4.3.2. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.3.5. Middle East & Africa
- 7.3.5.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.3.5.2. South Africa
- 7.3.5.2.1. Key country dynamics
- 7.3.5.2.2. Market estimates and forecast, 2018 - 2030 (USD Million)
Chapter 8. Competitive Analysis
- 8.1. Recent Developments & Impact Analysis by Key Market Participants
- 8.2. Company Categorization
- 8.3. Participant's Overview
- 8.4. Financial Performances
- 8.4.1. Revenue
- 8.4.2. COGS
- 8.4.3. Gross Profit Margin (%)
- 8.4.4. EBIT/EBITDA
- 8.4.5. Regional Revenue Breakdown
- 8.4.6. Business Segment Revenue Breakdown (as per annual report)
- 8.5. Product Benchmarking
- 8.6. Company Market Share Analysis, 2024 (%)
- 8.7. Company Heat Map Analysis
- 8.8. Strategy Mapping
- 8.9. Company Profiles
- 8.9.1. Bacardi Limited
- 8.9.1.1. Company Overview
- 8.9.1.2. Financial Information
- 8.9.1.3. Product Portfolios
- 8.9.1.4. Strategic Initiatives
- 8.9.2. Davide Campari-Milano N.V.
- 8.9.2.1. Company Overview
- 8.9.2.2. Financial information
- 8.9.2.3. Product Portfolios
- 8.9.2.4. Strategic Initiatives
- 8.9.3. Demerara Distillers Ltd. (DDL)
- 8.9.3.1. Company Overview
- 8.9.3.2. Financial information
- 8.9.3.3. Product Portfolios
- 8.9.3.4. Strategic Initiatives
- 8.9.4. Diageo Plc
- 8.9.4.1. Company Overview
- 8.9.4.2. Financial information
- 8.9.4.3. Product Portfolios
- 8.9.4.4. Strategic Initiatives
- 8.9.5. LT Group Inc.
- 8.9.5.1. Company Overview
- 8.9.5.2. Financial information
- 8.9.5.3. Product Portfolios
- 8.9.5.4. Strategic Initiatives
- 8.9.6. Nova Scotia Spirit Co.
- 8.9.6.1. Company Overview
- 8.9.6.2. Financial information
- 8.9.6.3. Product Portfolios
- 8.9.6.4. Strategic Initiatives
- 8.9.7. Pernod Ricard SA
- 8.9.7.1. Company Overview
- 8.9.7.2. Financial information
- 8.9.7.3. Product Portfolios
- 8.9.7.4. Strategic Initiatives
- 8.9.8. Dictador Europe Sp. z o.o.
- 8.9.8.1. Company Overview
- 8.9.8.2. Financial information
- 8.9.8.3. Product Portfolios
- 8.9.8.4. Strategic Initiatives
- 8.9.9. William Grant & Sons Ltd.
- 8.9.9.1. Company Overview
- 8.9.9.2. Financial information
- 8.9.9.3. Product Portfolios
- 8.9.9.4. Strategic Initiatives
- 8.9.10. Mohan Meakin Limited
- 8.9.10.1. Company Overview
- 8.9.10.2. Financial information
- 8.9.10.3. Product Portfolios
- 8.9.10.4. Strategic Initiatives