Report Update Nov 1, 2024

Argentina - Rum - Market Analysis, Forecast, Size, Trends and Insights

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Argentina: Rum Market 2024

Rum Exports

Exports from Argentina

In 2022, rum exports from Argentina dropped to X litres, shrinking by -11.6% compared with 2021 figures. In general, exports recorded a dramatic decrease. The pace of growth was the most pronounced in 2016 when exports increased by 1,286% against the previous year. As a result, the exports attained the peak of X litres. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, rum exports declined dramatically to $X in 2022. Over the period under review, exports recorded a abrupt curtailment. The pace of growth was the most pronounced in 2016 with an increase of 899% against the previous year. As a result, the exports attained the peak of $X. From 2017 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Oman (X litres) was the main destination for rum exports from Argentina, with a 93% share of total exports. It was followed by the United States (X litres), with a 1.7% share of total exports. Mexico (X litres) ranked third in terms of total exports with a 1.1% share.

From 2012 to 2022, the average annual growth rate of volume to Oman stood at -21.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-39.1% per year) and Mexico (-33.8% per year).

In value terms, the largest markets for rum exported from Argentina were the United States ($X), Oman ($X) and Mexico ($X), with a combined 93% share of total exports.

The United States, with a CAGR of -3.3%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2022, the average rum export price amounted to $X per litre, declining by -14.3% against the previous year. In general, the export price, however, saw prominent growth. The pace of growth appeared the most rapid in 2013 an increase of 59%. The export price peaked at $X per litre in 2021, and then reduced in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per litre), while the average price for exports to Oman ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+59.5%), while the prices for the other major destinations experienced more modest paces of growth.

Rum Imports

Imports into Argentina

For the third consecutive year, Argentina recorded growth in supplies from abroad of rum, which increased by 48% to X litres in 2022. Over the period under review, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 54% against the previous year. Imports peaked at X litres in 2016; afterwards, it flattened through to 2022.

In value terms, rum imports surged to $X in 2022. In general, imports, however, continue to indicate a pronounced slump. The growth pace was the most rapid in 2021 when imports increased by 60%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Cuba (X litres), Mexico (X litres) and Brazil (X litres) were the main suppliers of rum imports to Argentina, together comprising 89% of total imports. These countries were followed by the Dominican Republic, Nicaragua and the United States, which together accounted for a further 6.6%.

From 2012 to 2022, the biggest increases were recorded for Nicaragua (with a CAGR of +53.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest rum suppliers to Argentina were Cuba ($X), Mexico ($X) and Brazil ($X), together comprising 79% of total imports. These countries were followed by Nicaragua, the Dominican Republic and the United States, which together accounted for a further 4.9%.

Nicaragua, with a CAGR of +38.6%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average rum import price amounted to $X per litre, declining by -13.1% against the previous year. Over the period under review, the import price saw a pronounced setback. The pace of growth was the most pronounced in 2021 an increase of 12% against the previous year. The import price peaked at $X per litre in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per litre), while the price for Brazil ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (-0.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for rum in the world?

The United States constituted the country with the largest volume of rum consumption, comprising approx. 71% of total volume. Moreover, rum consumption in the United States exceeded the figures recorded by the second-largest consumer, China, more than tenfold. The UK ranked third in terms of total consumption with a 2.8% share.

What are the largest producers of rum in the world?

The United States remains the largest rum producing country worldwide, accounting for 72% of total volume. Moreover, rum production in the United States exceeded the figures recorded by the second-largest producer, China, more than tenfold. The third position in this ranking was occupied by India, with a 2.7% share.

What are the leading suppliers of rum to Argentina?

In value terms, Cuba, Mexico and the UK were the largest rum suppliers to Argentina, with a combined 84% share of total imports.

What are the leading importers of rum from Argentina?

In value terms, the United States, Bolivia and the Netherlands were the largest markets for rum exported from Argentina worldwide, together accounting for 83% of total exports.

What is the average export price for rum in Argentina?

The average rum export price stood at $5.1 per litre in 2021, which is down by -17.5% against the previous year.

What is the average import price for rum in Argentina?

The average rum import price stood at $2.3 per litre in 2021, rising by 9.7% against the previous year.

This report provides an in-depth analysis of the rum market in Argentina. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 11011040 - Rum and other spirits obtained by distilling fermented sugarcane products (important: excluding alcohol duty)

Country coverage:

Argentina

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Argentina
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023