Croatia: Rum Market 2024

Rum Market Size in Croatia

The Croatian rum market surged to $X in 2022, growing by 43% against the previous year. In general, consumption continues to indicate a prominent expansion. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the near future.

Rum Production in Croatia

In value terms, rum production shrank to $X in 2022 estimated in export price. Overall, production, however, saw a abrupt descent. The growth pace was the most rapid in 2019 when the production volume increased by 65%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Rum Exports

Exports from Croatia

In 2022, exports of rum from Croatia surged to X litres, picking up by 47% compared with 2021 figures. In general, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of 79% against the previous year. Over the period under review, the exports reached the peak figure at X litres in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, rum exports soared to $X in 2022. Overall, exports saw a prominent increase. The pace of growth appeared the most rapid in 2013 when exports increased by 81%. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

Slovenia (X litres) was the main destination for rum exports from Croatia, with a 45% share of total exports. Moreover, rum exports to Slovenia exceeded the volume sent to the second major destination, the United Arab Emirates (X litres), twofold. Montenegro (X litres) ranked third in terms of total exports with a 9.2% share.

From 2012 to 2022, the average annual growth rate of volume to Slovenia amounted to +13.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+77.9% per year) and Montenegro (-8.2% per year).

In value terms, the United Arab Emirates ($X), Slovenia ($X) and Montenegro ($X) were the largest markets for rum exported from Croatia worldwide, together accounting for 48% of total exports.

Among the main countries of destination, the United Arab Emirates, with a CAGR of +92.8%, saw the highest growth rate of the value of exports, 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, reducing by -17.1% against the previous year. Overall, the export price, however, posted prominent growth. The pace of growth was the most pronounced in 2014 an increase of 95% against the previous year. Over the period under review, the average export prices reached the maximum at $X per litre in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($X per litre), while the average price for exports to Germany ($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 Australia (+31.4%), while the prices for the other major destinations experienced more modest paces of growth.

Rum Imports

Imports into Croatia

In 2022, supplies from abroad of rum increased by 55% to X litres, rising for the second year in a row after two years of decline. In general, imports showed strong growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, rum imports surged to $X in 2022. Over the period under review, imports continue to indicate a prominent increase. The pace of growth appeared the most rapid in 2021 when imports increased by 75% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to see steady growth in years to come.

Imports by Country

Italy (X litres), Spain (X litres) and Germany (X litres) were the main suppliers of rum imports to Croatia, together comprising 55% of total imports. Romania, Slovenia, the Netherlands, the Dominican Republic, Austria, the Czech Republic, the UK, the United States and Cuba lagged somewhat behind, together accounting for a further 37%.

From 2012 to 2022, the biggest increases were recorded for Romania (with a CAGR of +577.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest rum suppliers to Croatia were Italy ($X), Romania ($X) and Spain ($X), with a combined 54% share of total imports.

In terms of the main suppliers, Romania, with a CAGR of +872.6%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average rum import price amounted to $X per litre, dropping by -5.2% 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 2021 an increase of 18% against the previous year. Over the period under review, average import prices reached the maximum at $X per litre in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

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 Romania ($X per litre), while the price for the Czech Republic ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Romania (+43.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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