Press release
Rum Market Is Expected To Witness A Substantial Rise In The Growth And Demand In The Forecast Period 2023-2032 | Bacardi Limited, Davide Campari-Milano N.V., Demerara Distillers Ltd., Diageo Plc., LT Group Inc.
Rum Market Trends
Rum Market Size, Growth Rate, And Forecast
The global rum market size is expected to grow from $13.69 billion in 2022 to $14.35 billion in 2023 at a compound annual growth rate (CAGR) of 4.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global rum market is expected to reach $17.68 billion in 2027 at a CAGR of 5.4%.
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Rum Market Drivers
The growing consumer disposable earnings are expected to propel the growth of the rum market in the coming years. Disposable income or disposable earnings, often known as disposable personal income (DPI), is the sum of cash accessible to an individual or household after income taxes have been subtracted. Disposable income is a major factor influencing alcohol consumption. Increased disposable income increases rum consumption and boosts the market.
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Rum Market Segments
• By Rum Type: White Rum, Light Or Gold Rum, Dark Rum, Spiced Rum, Other Rums
• By Nature: Plain Rum, Flavored Rum, Organic Rum, Conventional Rum, Other Categories
• By Business Channel: Business To Business, Hypermarkets Or Supermarkets, Specialty Stores, Online Retails, Other Business Channels
• By Distribution Channel: Offline Trading, Online Trading
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the rum market.
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Rum Market Key Players
Major competitors in the rum market include Bacardi Limited, Davide Campari-Milano N.V., Demerara Distillers Ltd., Diageo Plc., LT Group Inc., Nova Scotia Spirit Co., Pernod Ricard, Suntory Holdings Limited.
The Business Research Company's "Global Rum Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The Rum Market Include:
1. Executive Summary
2. Rum Market Characteristics
3. Rum Market Trends And Strategies
4. Rum Market - Macro Economic Scenario
5. Rum Market Size And Growth
……………
26. Africa Rum Market
27. Rum Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Rum Market
29. Rum Market Future Outlook and Potential Analysis
30. Appendix
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