France: Rum Market 2024

Rum Market Size in France

The French rum market shrank to $X in 2022, which is down by -12.5% against the previous year. Overall, the total consumption indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +57.5% against 2012 indices. Rum consumption peaked at $X in 2021, and then reduced in the following year.

Rum Production in France

In value terms, rum production contracted to $X in 2022 estimated in export price. Over the period under review, the total production indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +64.1% against 2012 indices. The pace of growth appeared the most rapid in 2021 when the production volume increased by 20% against the previous year. As a result, production attained the peak level of $X, and then declined in the following year.

Rum Exports

Exports from France

In 2022, overseas shipments of rum increased by 21% to X litres, rising for the eighth year in a row after two years of decline. Overall, exports continue to indicate a prominent expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, rum exports rose remarkably to $X in 2022. Over the period under review, exports continue to indicate strong growth. The most prominent rate of growth was recorded in 2017 with an increase of 38% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

Germany (X litres), Spain (X litres) and the United States (X litres) were the main destinations of rum exports from France, together comprising 33% of total exports. These countries were followed by the UK, Italy, Belgium, Burkina Faso, Latvia, Sweden, the Czech Republic, the Netherlands, Ghana and Japan, which together accounted for a further 35%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Czech Republic (with a CAGR of +32.5%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Germany ($X) and Italy ($X) constituted the largest markets for rum exported from France worldwide, with a combined 31% share of total exports. Belgium, the Czech Republic, Spain, Sweden, the UK, the Netherlands, Latvia, Burkina Faso, Japan and Ghana lagged somewhat behind, together comprising a further 34%.

In terms of the main countries of destination, the Czech Republic, with a CAGR of +38.9%, recorded 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

The average rum export price stood at $X per litre in 2022, declining by -11.9% against the previous year. Over the period under review, export price indicated buoyant growth from 2012 to 2022: its price increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, rum export price increased by +36.0% against 2016 indices. The most prominent rate of growth was recorded in 2013 an increase of 20%. The export price peaked at $X per litre in 2021, and then reduced in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Czech Republic ($X per litre), while the average price for exports to Burkina Faso ($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 Germany (+11.4%), while the prices for the other major destinations experienced more modest paces of growth.

Rum Imports

Imports into France

In 2022, imports of rum into France was estimated at X litres, picking up by 12% on the year before. Over the period under review, total imports indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of +8.8% 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 +32.5% against 2020 indices. The growth pace was the most rapid in 2014 when imports increased by 40%. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, rum imports stood at $X in 2022. In general, imports saw a resilient expansion. The most prominent rate of growth was recorded in 2016 with an increase of 47% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

The Netherlands (X litres), Barbados (X litres) and Italy (X litres) were the main suppliers of rum imports to France, with a combined 50% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of +68.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest rum suppliers to France were the Netherlands ($X), Venezuela ($X) and Italy ($X), with a combined 41% share of total imports.

In terms of the main suppliers, Italy, with a CAGR of +60.3%, 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, waning by -9.6% against the previous year. Over the last decade, it increased at an average annual rate of +1.4%. The most prominent rate of growth was recorded in 2021 an increase of 13% against the previous year. As a result, import price attained the peak level of $X per litre, and then fell 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 Cuba ($X per litre), while the price for Brazil ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cuba (+12.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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