Rum Global Market Report 2023 - By Size, Share, Opportunities And Strategies, Forecast To 2032

The Business Research Company's latest "Global Rum Opportunities And Strategies Market Report - Forecast To 2032" is the most comprehensive report available in market that will help gain a truly global perspective with data and statistics from over 60 geographies analyzed with more than 7500 market segments. The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by region and by country. It also compares the market's historic and forecast growth and highlights important trends and strategies that can be adopted to beat the competition in the industry

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The global rum market reached a value of nearly $13,691.0 million in 2022, having grown at a compound annual growth rate (CAGR) of 4.7% since 2017. The market is expected to grow from $13,691.0 million in 2022 to $17,679.4 million in 2027 at a rate of 5.2%. The market is then expected to grow at a CAGR of 4.4% from 2027 and reach $21,915.4 million in 2032.

Rum refers to an alcoholic beverage made from fermented sugarcane juice, sugarcane syrup, sugarcane molasses, and other sugarcane by products. It is manufactured in such a way that the distillate has the flavor, fragrance, and characteristics commonly associated with rum, and includes a blend primarily of such distillates. The sugarcane is fermented and then distilled. After distillation, the liquid will be clear and typically aged using bourbon casks, wooden casks or stainless-steel tanks. The vessel of distillation and post distillation storage in casks defines the final characteristics of the distilled spirit plays a key role in what type of rum will result. When aged in oak barrels the rum becomes dark, versus being aged in stainless steel tanks where it remains virtually colorless.

Major companies in the rum market including craft distilleries and small-batch producers are focusing on a diverse range of high-end rums that appeal to discerning consumers to strengthen and enhance their product offerings. Consumers are increasingly seeking premium and craft rums with premium ingredients and artisanal production methods. For example, in June 2022, Pernod Ricard India Private Ltd, an India-based subsidiary of Pernod Ricard SA, an alcoholic beverage company, unveiled Havana Club 7, a premium rum that embodies the essence of Cuba. This high-end offering caters to affluent and discerning consumers seeking exclusive and indulgent experiences. Aged in ex-Bourbon barrels, Havana Club 7 brings out the rich and diverse natural flavours of Cuba, providing a versatile and sophisticated rum choice for connoisseurs. Havana Club 7 is described as a sophisticated rum crafted for sipping or enjoying on the rocks. With a flavor profile tailored for experimentation, it appeals to discerning individuals with a taste for aged spirits and craft liquor.

Rum Market Segmentation:
• By Rum Type-
a) White Rum
b) Gold Rum
c) Dark Rum
d) Spiced Rum
e) Other Rums
• By Nature-
a) Organic Rum
b) Conventional Rum
By Distribution Channel-
a) Offline Trading
b) Online Trading
• By Geography -
o Asia Pacific
• China
• India
• Japan
• Australia
• Indonesia
• South Korea
o North America
• USA
o South America
• Brazil
o Western Europe
• France
• Germany
• UK
o Eastern Europe
• Russia
o Middle East
o Africa

Some of the key players involved in the Rum market are Bacardi and Company Ltd., Diageo PLC, Pernod Ricard, Radico Khaitan, LT Group, Inc.
The regions covered in the global Rum market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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A Few Points From The Table Of Content
1. Executive Summary
2. Table Of Contents
3. List Of Figures
4. List Of Tables
5. Report Structure
........
18. Competitive Landscape And Company Profiles
19. Key Mergers And Acquisitions
20. Opportunities And Strategies
21. Rum Market, Conclusions And Recommendations
22. Appendix

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