Spiced rum: potential to push boundaries(Forecast 2021-2027)

The global spiced rum market size was valued at USD 6.2 billion in 2020 and is anticipated to grow at USD 8 billion by 2027 witness significant growth with CAGR of 4% in the years to come. The market growth is majorly attributed to shifting consumer preference for premium alcoholic drinks.

Shifting trend towards consuming a low quantity of alcohol with better quality has been boosting the demand for flavoured rum, especially among the millennials. Furthermore, the expansion of cocktail culture among millennials at the global level is expected to widen the growth opportunity for flavoured rum in the upcoming years.

The cocktail revolution has been appealing to a large number of drinkers who are interested in both traditional and exotic flavours. This trend has raised the sales of spiced spirits in bars, pubs, and restaurants. Furthermore, the cocktail enthusiasts have been posting appealing photos on Instagram that has been influencing a large group of followers. For instance, a vast number of “drinkstagrammers” are also encouraging consumers to try spiced drinks through social websites. This trend is expected to expand the scope of spiced rum over the next few years.

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Key players
Diageo plc.
Bacardi Limited
Pernod Ricard SA.
Maine Craft Distilling, LLC.
Altitude Spirits, Inc.
Others
Based on product, the industry can be divided into:
Vanilla
Fruit
Mix
Others
On the basis of type, the product can be categorised as follows:
White
Gold
Dark Spiced Rum

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The Spiced Rum market in APAC is expected to hold a major market share during the forecast period as countries in APAC such as China, Japan, India, and South Korea have some of the largest manufacturing facilities wherein automation of manufacturing processes has been taken as the highest priority. Also, strong competition among consumer electronics companies in APAC is likely to boost the adoption of machine vision systems in the region. The growing awareness about and demand for high-quality and zero-defect products has fuelled the need for Spiced Rum in inspection-related applications in the manufacturing fields.
However, the outbreak of COVID-19 has significantly affected the manufacturing sector of APAC. As the neighbouring countries are linked to one another through trade relations and supply chain the entire region is affected with the outbreak of COVID-19 which will have a significant impact on the said market in this region for the forecast period.

TABLE OF CONTENTS
Chapter 1. Executive Summary
Chapter 2. Research Methodology
Chapter 3. Market Outlook
Chapter 4. COVID-19 Impact on Spiced Rum Market
Chapter 5. Global Spiced Rum Market Overview, By Application, 2015 - 2027(USD Million)
Chapter 6. Global Spiced Rum Market Overview, By Distribution Channel, 2015 - 2027(USD Million)
Chapter 7. Global Spiced Rum Market Overview, By Geography, 2015 - 2027(USD Million)
Chapter 8. North America Spiced Rum Market Overview, By Countries, 2015 - 2027(USD Million)
Chapter 9. Europe Spiced Rum Market Overview, By Countries, 2015 - 2027(USD Million)
Chapter 10. Asia Pacific Spiced Rum Market Overview, By Countries, 2015 - 2027 (USD Million)
Chapter 11. Middle East & Africa Spiced Rum Market Overview, By Countries, 2015 - 2027 (USD Million)
Chapter 12. South America Spiced Rum Market Overview, By Countries, 2015 - 2027 (USD Million)
Chapter 13. Competitive Landscape
Chapter 14. Key Vendor Analysis
Chapter 15. Spiced Rum Market Cost Analysis
Chapter 16. Sourcing Strategy and Downstream Buyers
Chapter 17. Marketing Strategy Analysis, Distributors/Traders
Chapter 18. Market Effect Factors Analysis
Chapter 19. Future Outlook of the Market

Reasons to Buy the Report:
• Learn about the driving factors, affecting the market growth.
• Imbibe the advancements and progress in the market during the forecast period.
• Understand where the market opportunities lie.
• Compare and evaluate various options affecting the market.
• Pick up on the leading market players within the market.
• Envision the restrictions and restrains that are likely to hamper the market.

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