MENA: Rum Market 2024

Rum Market Size in MENA

The MENA's rum market expanded slightly to $X in 2022, surging by 4% against the previous year. The total consumption indicated a prominent increase from 2012 to 2022: its value 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, consumption increased by +81.3% against 2013 indices. The level of consumption peaked in 2022 and is expected to retain growth in the near future.

Rum Production in MENA

In value terms, rum production rose slightly to $X in 2022 estimated in export price. The total production indicated a prominent increase from 2012 to 2022: its value 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, production decreased by -2.0% against 2020 indices. The growth pace was the most rapid in 2018 when the production volume increased by 24%. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Rum Exports

Exports in MENA

Rum exports shrank rapidly to X litres in 2022, reducing by -37.4% on the previous year's figure. In general, exports saw a mild decline. The pace of growth appeared the most rapid in 2016 with an increase of 232%. The volume of export peaked at X litres in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, rum exports reduced slightly to $X in 2022. Overall, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when exports increased by 87% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports remained at a lower figure.

Export Prices by Country

The export price in MENA stood at $X per litre in 2022, jumping by 55% against the previous year. Over the period under review, the export price saw a modest expansion. The growth pace was the most rapid in 2015 when the export price increased by 170%. As a result, the export price reached the peak level of $X per litre. From 2016 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Bahrain ($X per litre), while the United Arab Emirates totaled $X per litre.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bahrain (+4.0%).

Rum Imports

Imports in MENA

In 2022, approx. X litres of rum were imported in MENA; surging by 8.3% compared with 2021. Total imports indicated a prominent increase from 2012 to 2022: its volume increased at an average annual rate of +5.7% 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 +89.2% against 2014 indices. The most prominent rate of growth was recorded in 2019 with an increase of 29% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, rum imports totaled $X in 2022. Total imports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +5.4% 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 +61.2% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 50%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

The United Arab Emirates was the key importing country with an import of about X litres, which reached 58% of total imports. It was distantly followed by Turkey (X litres), constituting a 20% share of total imports. Qatar (X litres), Israel (X litres), Bahrain (X litres), Oman (X litres) and Morocco (X litres) followed a long way behind the leaders.

Imports into the United Arab Emirates increased at an average annual rate of +6.3% from 2012 to 2022. At the same time, Israel (+18.2%), Turkey (+13.4%), Morocco (+4.1%) and Qatar (+3.0%) displayed positive paces of growth. Moreover, Israel emerged as the fastest-growing importer imported in MENA, with a CAGR of +18.2% from 2012-2022. By contrast, Bahrain (-1.7%) and Oman (-8.4%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Turkey, the United Arab Emirates and Israel increased by +10, +3.3 and +2.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported rum in MENA, comprising 50% of total imports. The second position in the ranking was held by Turkey ($X), with a 21% share of total imports. It was followed by Israel, with a 9.3% share.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates amounted to +6.0%. In the other countries, the average annual rates were as follows: Turkey (+5.5% per year) and Israel (+22.8% per year).

Import Prices by Country

In 2022, the import price in MENA amounted to $X per litre, remaining stable against the previous year. In general, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by 21%. Over the period under review, import prices attained the maximum at $X per litre in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Israel ($X per litre), while Bahrain ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Israel (+3.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform