High-End Rum Market Size, Share & Global Insights 2022-2030

The North America high-end rum market was valued at US$ 1,052.02 million in 2022 and is expected to reach US$ 1,504.83 million by 2030; it is estimated to record a CAGR of 4.6% from 2022 to 2030.
The impact of digital marketing and social media has also played an important role. Premium rum brands that effectively use social platforms have showcased the versatility and luxury associated with products, attracting consumers. Several brands, such as Diplomático, Rum Zacapa, and Richard Seale, have emerged as key players in premium rum for the quality of their products and their innovative marketing strategies. Globally, premium rum is gaining traction in several key international markets. In the US, Europe, and Asia Pacific, there is an increase in demand for premium and ultra-premium rums. Premium, matured, and high-quality rums are becoming more popular as consumers seek distinctive flavors and novel experiences in rum consumption.

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North America is one of the prominent regions for the high-end rum market owing to the rapidly increasing consumption of alcoholic beverages. As busy lifestyles increasingly shift toward indulgent experiences at home, alcoholic beverages such as rum provide consumers with a convenient way to enjoy their choice of alcoholic beverages without visiting a restaurant or bar. Consumers in the region increasingly prioritize convenience, variety, taste, and quality in their choice of beverages. High-end rum fits perfectly into this trend. Moreover, to maintain prestige in society, consumer's preference for high-end rum such as ultra-premium, prestige and prestige plus rum is increasing. Thus, owing to the high disposable income and changing lifestyle of consumers, the demand for high-end rum is increasing across the region.

MARKET INTRODUCTION

According to the Food and Agriculture Organization (FAO), food loss and waste cause ~US$ 940 billion per year in economic losses. While 17% of the world's food is wasted at the consumption stage, 14% is lost during the distribution, handling, and storage stages. The FAO estimates that US$ 400 billion of perishable food is wasted annually, of which half is lost due to temperature changes. Dry ice, solid carbon dioxide (CO2) at extremely low temperatures, is used extensively as a refrigerant and cooling agent in the storage and transportation sector. Its unique properties make it an indispensable tool for preserving the quality and integrity of perishable items during storage and transportation. Dry ice in the storage and transportation sector is used in the preservation of frozen and chilled products. The sublimation process of dry ice releases extremely cold CO2 gas, creating a consistently low-temperature environment. This makes dry ice an ideal choice for maintaining the required temperature levels during the shipping and storage of goods such as pharmaceuticals, medical samples, and certain types of food.

List of Companies Profiled in the North America High-End Rum Market Report are:
1. Cayman Spirits Co
2. Sovereign Brands LLC
3. Cognac Ferrand SASU
4. Pernod Ricard SA
5. Mount Distelleries Ltd
6. Davide Campari Milano NV
7. Brown forman corp
8. Westerhall estate Ltd
9. Diageo Plc
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Key Segmentation:

Deployment Mode (Cloud Based and On-Premise),
The North America High-End Rum Market is categorized into type, application, and country.
• Based on type, the North America High-End Rum market is segmented into pellets, blocks, and others. The blocks segment held the largest market share in 2022.
• In terms of application, the North America High-End Rum market is segmented into food and beverage, storage and transportation, healthcare, industrial applications, and others. The storage and transportation held the largest market share in 2022.
• By country, the North America High-End Rum market is segmented into the US, Canada, and Mexico. The US dominated the North America High-End Rum market share in 2022.

North America High-End Rum Market Report displays data on key players, major collaborations, merger & acquisitions along with trending innovation and business policies. The report highlights current and future market trends and carries out analysis of the effect of buyers, substitutes, new entrants, competitors, and suppliers on the market. The key topics that have been explained in this North America High-End Rum Market report include market definition, market segmentation, key developments, competitive analysis and research methodology. To accomplish maximum return on investment (ROI), it's very essential to be acquainted with market parameters such as brand awareness, market landscape, possible future issues, industry trends and customer behavior where this North America High-End Rum Market report comes into play.

Table of Contents

Report Overview: It includes the objectives and scope of the study and gives highlights of key market segments and players covered. It also includes years considered for the research study.

Executive Summary: It covers industry trends with high focus on market use cases and top market trends, market size by regions, and market size. It also covers market share and growth rate by regions.

Key Players: Here, the report concentrates on mergers and acquisitions, expansions, analysis of key players, establishment date of companies, and areas served, manufacturing base, and revenue of key players.

Breakdown by Product and Application: This section provides details about market size by product and application.

Regional Analysis: All of the regions and countries analyzed in the report are studied on the basis of market size by product and application, key players, and market forecast.

Profiles of International Players: Here, players are evaluated on the basis of their gross margin, price, sales, revenue, business, products, and other company details.

Market Dynamics: It includes supply chain analysis, analysis of regional marketing, challenges, opportunities, and drivers analyzed in the report.

Key Findings of the Research Study

Appendix: It includes details about research and methodology approach, research methodology, data sources, authors of the study, and a disclaimer.

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