Austria: Rum Market 2024

Rum Market Size in Austria

After two years of growth, the Austrian rum market decreased by -0.7% to $X in 2022. Over the period under review, consumption enjoyed a prominent increase. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Rum Production in Austria

In value terms, rum production expanded modestly to $X in 2022 estimated in export price. Overall, production showed buoyant growth. The pace of growth appeared the most rapid in 2018 with an increase of 95% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Rum Exports

Exports from Austria

For the third consecutive year, Austria recorded growth in overseas shipments of rum, which increased by 8.4% to X litres in 2022. Over the period under review, exports enjoyed a strong expansion. The pace of growth appeared the most rapid in 2017 with an increase of 32%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, rum exports amounted to $X in 2022. Overall, exports continue to indicate a strong expansion. The pace of growth was the most pronounced in 2014 with an increase of 34% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the near future.

Exports by Country

Germany (X litres) was the main destination for rum exports from Austria, accounting for a 44% share of total exports. Moreover, rum exports to Germany exceeded the volume sent to the second major destination, Italy (X litres), fivefold. The Netherlands (X litres) ranked third in terms of total exports with a 7.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany totaled +7.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+30.7% per year) and the Netherlands (+1.8% per year).

In value terms, Germany ($X) remains the key foreign market for rum exports from Austria, comprising 40% of total exports. The second position in the ranking was taken by Italy ($X), with an 11% share of total exports. It was followed by the Netherlands, with a 9.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany totaled +8.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+35.1% per year) and the Netherlands (+5.0% per year).

Export Prices by Country

The average rum export price stood at $X per litre in 2022, shrinking by -7% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.0%. The most prominent rate of growth was recorded in 2013 when the average export price increased by 22%. The export price peaked at $X per litre in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($X per litre), while the average price for exports to Hungary ($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 Slovenia (+13.3%), while the prices for the other major destinations experienced more modest paces of growth.

Rum Imports

Imports into Austria

In 2022, the amount of rum imported into Austria surged to X litres, growing by 36% compared with the previous year. Over the period under review, total imports indicated a perceptible increase from 2012 to 2022: its volume increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +95.0% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 43%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, rum imports stood at $X in 2022. In general, imports posted strong growth. The growth pace was the most rapid in 2021 when imports increased by 44%. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the near future.

Imports by Country

Germany (X litres), Italy (X litres) and the Netherlands (X litres) were the main suppliers of rum imports to Austria, together comprising 76% of total imports.

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of +49.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of rum to Austria, comprising 37% of total imports. The second position in the ranking was taken by Italy ($X), with a 17% share of total imports. It was followed by France, with an 8.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany totaled +18.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+35.7% per year) and France (+51.2% per year).

Import Prices by Country

The average rum import price stood at $X per litre in 2022, which is down by -23.3% against the previous year. Over the period under review, import price indicated a pronounced increase from 2012 to 2022: its price increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 an increase of 36% against the previous year. Over the period under review, average import prices attained the peak figure at $X per litre in 2021, and then declined significantly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per litre), while the price for the Netherlands ($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 UK (+10.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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