Report Update Nov 1, 2024

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

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Australia: Rum Market 2024

Rum Exports

Exports from Australia

In 2022, exports of rum from Australia skyrocketed to X litres, jumping by 42% against 2021. Over the period under review, exports continue to indicate temperate growth. The growth pace was the most rapid in 2019 with an increase of 63% against the previous year. The exports peaked at X litres in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, rum exports surged to $X in 2022. In general, total exports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +108.4% against 2020 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

New Zealand (X litres), Papua New Guinea (X litres) and China (X litres) were the main destinations of rum exports from Australia, together accounting for 72% of total exports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +145.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, New Zealand ($X), Papua New Guinea ($X) and China ($X) appeared to be the largest markets for rum exported from Australia worldwide, together comprising 72% of total exports.

China, with a CAGR of +151.1%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average rum export price amounted to $X per litre, rising by 17% against the previous year. In general, export price indicated a noticeable increase from 2012 to 2022: its price increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when the average export price increased by 70% against the previous year. The export price peaked in 2022 and is expected to retain growth in the immediate term.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to French Polynesia ($X per litre) and Vanuatu ($X per litre), while the average price for exports to Singapore ($X per litre) and New Caledonia ($X per litre) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+5.0%), while the prices for the other major destinations experienced more modest paces of growth.

Rum Imports

Imports into Australia

In 2022, overseas purchases of rum increased by 6.4% to X litres, rising for the second consecutive year after three years of decline. Over the period under review, imports, however, continue to indicate a abrupt descent. The pace of growth was the most pronounced in 2015 when imports increased by 31%. Imports peaked at X litres in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, rum imports rose notably to $X in 2022. In general, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 23% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to continue growth in the immediate term.

Imports by Country

In 2022, the United States (X litres) constituted the largest rum supplier to Australia, accounting for a 39% share of total imports. Moreover, rum imports from the United States exceeded the figures recorded by the second-largest supplier, the UK (X litres), threefold. Barbados (X litres) ranked third in terms of total imports with a 9% share.

From 2012 to 2022, the average annual growth rate of volume from the United States stood at -6.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (-8.0% per year) and Barbados (-4.8% per year).

In value terms, the United States ($X) constituted the largest supplier of rum to Australia, comprising 39% of total imports. The second position in the ranking was held by the UK ($X), with a 12% share of total imports. It was followed by Barbados, with a 9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States stood at -1.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (-2.0% per year) and Barbados (+2.3% per year).

Import Prices by Country

The average rum import price stood at $X per litre in 2022, with an increase of 4% against the previous year. Over the period under review, the import price showed a prominent expansion. The growth pace was the most rapid in 2018 when the average import price increased by 68%. Over the period under review, average import prices attained the maximum in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Cuba ($X per litre) and Guatemala ($X per litre), while the price for Venezuela ($X per litre) and France ($X per litre) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cuba (+14.2%), while the prices for the other major suppliers experienced more modest paces of growth.

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 country with the largest volume of rum production was the United States, 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. India ranked third in terms of total production with a 2.7% share.

What are the leading suppliers of rum to Australia?

In value terms, the United States constituted the largest supplier of rum to Australia, comprising 41% of total imports. The second position in the ranking was occupied by the UK, with a 14% share of total imports. It was followed by France, with a 5.8% share.

What are the leading importers of rum from Australia?

In value terms, New Zealand remains the key foreign market for rum exports from Australia, comprising 47% of total exports. The second position in the ranking was occupied by China, with a 16% share of total exports. It was followed by Papua New Guinea, with a 7.3% share.

What is the average export price for rum in Australia?

The average rum export price stood at $7.3 per litre in 2021, picking up by 14% against the previous year.

What is the average import price for rum in Australia?

The average rum import price stood at $7.1 per litre in 2021, increasing by 4.5% against the previous year.

This report provides an in-depth analysis of the rum market in Australia. 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:

Australia

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Australia
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