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Report World - Rum - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update Nov 1, 2024

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

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Global Rum Market 2024

Rum Market Size

The global rum market rose to $X in 2022, increasing by 3.5% against the previous year. In general, the total consumption indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +4.4% 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 +56.9% against 2013 indices. Over the period under review, the global market reached the peak level in 2022 and is likely to continue growth in the immediate term.

Rum Production

In value terms, rum production totaled $X in 2022 estimated in export price. Overall, the total production indicated prominent growth 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 decreased by -0.9% against 2020 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by 19% against the previous year. Over the period under review, global production attained the maximum level at $X in 2020; afterwards, it flattened through to 2022.

Rum Exports

Exports

In 2022, the amount of rum exported worldwide reduced to X litres, which is down by -3.3% against 2021 figures. The total export volume increased at an average annual rate of +1.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 26% against the previous year. As a result, the exports attained the peak of X litres, and then shrank slightly in the following year.

In value terms, rum exports expanded remarkably to $X in 2022. Overall, total exports indicated a notable increase 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, exports increased by +40.9% against 2020 indices. The pace of growth appeared the most rapid in 2021 when exports increased by 34% against the previous year. Over the period under review, the global exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

The Dominican Republic (X litres), Italy (X litres), the United States (X litres), the Netherlands (X litres), Cuba (X litres), Guatemala (X litres), Spain (X litres), France (X litres), Jamaica (X litres), Venezuela (X litres), the UK (X litres) and India (X litres) represented roughly 78% of total exports in 2022. Germany (X litres) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Italy (with a CAGR of +20.1%), while the other global leaders experienced more modest paces of growth.

In value terms, the largest rum supplying countries worldwide were Italy ($X), the Netherlands ($X) and the United States ($X), together comprising 33% of global exports.

In terms of the main exporting countries, Italy, with a CAGR of +21.8%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

The average rum export price stood at $X per litre in 2022, growing by 8.6% against the previous year. Over the last decade, it increased at an average annual rate of +2.6%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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 Venezuela ($X per litre), while India ($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 Netherlands (+9.6%), while the other global leaders experienced more modest paces of growth.

Rum Imports

Imports

In 2022, global imports of rum expanded notably to X litres, growing by 7.5% on 2021. The total import volume increased at an average annual rate of +2.2% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 16%. Global imports peaked in 2022 and are likely to continue growth in the near future.

In value terms, rum imports expanded markedly to $X in 2022. The total import value increased at an average annual rate of +2.5% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 20%. Global imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

The purchases of the six major importers of rum, namely the Netherlands, Spain, Italy, the UK, Germany and the United States, represented more than half of total import. France (X litres), Canada (X litres), Russia (X litres), Belgium (X litres), El Salvador (X litres) and Chile (X litres) took a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of +16.2%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest rum importing markets worldwide were Italy ($X), the United States ($X) and Germany ($X), with a combined 32% share of global imports.

Among the main importing countries, Italy, with a CAGR of +15.4%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

The average rum import price stood at $X per litre in 2022, therefore, remained relatively stable against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the average import price increased by 6.1%. Over the period under review, average import prices hit record highs at $X per litre in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per litre), while El Salvador ($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 United States (+7.9%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

The United States constituted the country with the largest volume of rum consumption, accounting for 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.
The United States remains the largest rum producing country worldwide, 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.
In value terms, Italy, the Netherlands and the United States constituted the countries with the highest levels of exports in 2021, with a combined 34% share of global exports.
In value terms, the largest rum importing markets worldwide were Italy, the United States and Germany, with a combined 33% share of global imports. These countries were followed by Spain, the Netherlands, the UK, France, Belgium, Canada, Russia, the Dominican Republic and El Salvador, which together accounted for a further 39%.
The average rum export price stood at $4.1 per litre in 2021, increasing by 2.6% against the previous year.
In 2021, the average rum import price amounted to $4.7 per litre, leveling off at the previous year.

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

Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:

+ the largest producing countries

Data coverage:

  • Global market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Global production, split by region and country
  • Global trade (exports and imports)
  • 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:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. 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. 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. 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. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. CONSUMPTION BY COUNTRY
    3. MARKET FORECAST TO 2030

  4. 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. 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. 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. 7. GLOBAL PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE
    2. PRODUCTION BY COUNTRY

  8. 8. GLOBAL IMPORTS

    The Largest Importers on The Market and How They Succeed

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. GLOBAL EXPORTS

    The Largest Exporters on The Market and How They Succeed

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. 11. COUNTRY PROFILES

    The Largest Markets And Their Profiles

    This Chapter is Available Only for the Professional Edition PRO
    • United States
    • China
    • Japan
    • Germany
    • United Kingdom
    • France
    • Brazil
    • Italy
    • Russian Federation
    • India
    • Canada
    • Australia
    • Republic of Korea
    • Spain
    • Mexico
    • Indonesia
    • Netherlands
    • Turkey
    • Saudi Arabia
    • Switzerland
    • Sweden
    • Nigeria
    • Poland
    • Belgium
    • Argentina
    • Norway
    • Austria
    • Thailand
    • United Arab Emirates
    • Colombia
    • Denmark
    • South Africa
    • Malaysia
    • Israel
    • Singapore
    • Egypt
    • Philippines
    • Finland
    • Chile
    • Ireland
    • Pakistan
    • Greece
    • Portugal
    • Kazakhstan
    • Algeria
    • Czech Republic
    • Qatar
    • Peru
    • Romania
    • Vietnam

  12. 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, By Country, 2018–2023
    5. Production, In Physical Terms, By Country, 2012–2023
    6. Imports, In Physical Terms, By Country, 2012–2023
    7. Imports, In Value Terms, By Country, 2012–2023
    8. Import Prices, By Country Of Destination, 2012–2023
    9. Exports, In Physical Terms, By Country, 2012–2023
    10. Exports, In Value Terms, By Country, 2012–2023
    11. Export Prices, By Country Of Origin, 2012–2023

  13. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Consumption, By Country, 2023
    4. Market Volume Forecast to 2030
    5. Market Value Forecast to 2030
    6. Products: Market Size And Growth, By Type
    7. Products: Average Per Capita Consumption, By Type
    8. Products: Exports And Growth, By Type
    9. Products: Export Prices And Growth, By Type
    10. Production Volume And Growth
    11. Exports And Growth
    12. Export Prices And Growth
    13. Market Size And Growth
    14. Per Capita Consumption
    15. Imports And Growth
    16. Import Prices
    17. Production, In Physical Terms, 2012–2023
    18. Production, In Value Terms, 2012–2023
    19. Production, By Country, 2023
    20. Production, In Physical Terms, By Country, 2012–2023
    21. Imports, In Physical Terms, 2012–2023
    22. Imports, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, By Country, 2023
    24. Imports, In Physical Terms, By Country, 2012–2023
    25. Imports, In Value Terms, By Country, 2012–2023
    26. Import Prices, By Country, 2012–2023
    27. Exports, In Physical Terms, 2012–2023
    28. Exports, In Value Terms, 2012–2023
    29. Exports, In Physical Terms, By Country, 2023
    30. Exports, In Physical Terms, By Country, 2012–2023
    31. Exports, In Value Terms, By Country, 2012–2023
    32. Export Prices, 2012–2023

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