Market Overview:
The global craft rum market is expected to register a CAGR of 6.5% during the forecast period, 2018-2030. The market growth can be attributed to the increasing demand for premium and artisanal rums across the globe. Additionally, rising disposable income of consumers coupled with changing lifestyle trends are also fuelling the growth of the global craft rum market. Based on type, white rum dominates the global craft rum market and is expected to register a CAGR of 7% during 2018-2030. This can be attributed to its light flavor profile which makes it ideal for cocktails and other mixed drinks. On account of its unique flavor profile, black rums are witnessing high demand from bartenders and consumers alike and is expected to grow at a CAGR of 7% during 2018-2030. Golden rums are also gaining popularity among consumers due their mellow sweetness as well as rich flavor profiles which make them perfect for sipping straight or in cocktails/mixed drinks . The spiced rum segment is projected to grow at a CAGR of 5%. Regionally, North America dominates the global craft rum market followed by Europe owing to presence large number Craft distilleries in these regions . Latin America accounts for third largest share in terms revenue contribution owing high adoption rate Rum among countries such as Brazil & Mexico .
Product Definition:
Craft rum is a term used to describe rums made in small batches by artisanal producers. The importance of craft rum is that it represents the pinnacle of rum production, showcasing the skill and knowledge of the blender.
White Rum:
White rum is a colorless spirit derived from sugarcane or sugar beets. It has no colorant added during production, and the product can range in flavor from sweet to dry with citrus and spice notes. The product is used as a base ingredient for cocktails such as Daiquiri, Sazerac, White Lady (brandy & ginger ale), Sidecar, Mule and Cosmopolitan.
Black Rum:
Black rum is a dark-colored spirit, whose principal ingredients are sugarcane or wheat flour and molasses. It is produced in various countries around the world. The most common types of black rums include Demerara, Barbados, and Martinique rums.
The demand for craft spirits has been increasing over the past few years across the globe on account of rising consumer awareness regarding high-quality products with an authentic taste and flavor.
Application Insights:
The restaurants segment dominated the global craft rum market in 2017, accounting for a share of over 60%. The growth can be attributed to the rising number of fine dining restaurants and bars. Over the past few years, there has been an increase in demand for exotic cocktails with unique flavors that are popular among millennials. This has led to an increased focus on mixology skills by bartenders across the world.
The bottle stores segment is expected to expand at a CAGR of XX% from 2018 to 2030 owing to high product penetration in countries such as Australia, New Zealand and India where consumers prefer drinking alcohol at home rather than pubs or bars. In addition, growing preference for flavored spirits including spiced rum is expected drive demand over the forecast period.
Regional Analysis:
North America was the largest market for craft rum accounting for more than 35% of global share in 2017. The U.S., being the largest market, has a significant impact on global industry dynamics and trends. However, Asia Pacific is expected to be the fastest-growing regional market at a CAGR of XX% from 2018 to 2030 owing to increasing demand from China and India as well as other countries such as Australia, Thailand, South Korea and Japan among others.
The growing popularity of various types of rum across different regions is attributed to its unique characteristics including taste, aroma and color which are obtained by aging it in wooden barrels known as charcoals or coppers respectively.
Growth Factors:
- Increasing demand for premium and craft rum products.
- Growing popularity of cocktails that include rum as a key ingredient.
- Rum being perceived as a healthier spirit option compared to other alcoholic beverages.
- Emerging markets offering potential for growth in the craft rum category.
- The increasing trend of mixology and bartending, which is driving interest in new and unique rum flavors and styles
Scope Of The Report
Report Attributes
Report Details
Report Title
Craft Rum Market Research Report
By Type
White Rum, Black Rum, Golden Rum, Spiced Rum
By Application
Bottle Stores, Bars, Online, Restaurants, Others
By Companies
Bacardi Limited, Suntory Holdings Limited, Diageo, Maine Craft Distilling, LLC, Charles Merser & Co., Drum & Black Rum Company, Wicked Dolphin Rum, Domaines Ellam and Arizona Craft Beverage, Belize Spirits Marketing, Inc., Rockstar Spirits Ltd.
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
232
Number of Tables & Figures
163
Customization Available
Yes, the report can be customized as per your need.
Global Craft Rum Market Report Segments:
The global Craft Rum market is segmented on the basis of:
Types
White Rum, Black Rum, Golden Rum, Spiced Rum
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Bottle Stores, Bars, Online, Restaurants, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Bacardi Limited
- Suntory Holdings Limited
- Diageo
- Maine Craft Distilling, LLC
- Charles Merser & Co.
- Drum & Black Rum Company
- Wicked Dolphin Rum
- Domaines Ellam and Arizona Craft Beverage
- Belize Spirits Marketing, Inc.
- Rockstar Spirits Ltd.
Highlights of The Craft Rum Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- White Rum
- Black Rum
- Golden Rum
- Spiced Rum
- By Application:
- Bottle Stores
- Bars
- Online
- Restaurants
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Craft Rum Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Craft Rum is a type of rum made from sugarcane juice, molasses, and distilled spirits.
Some of the major players in the craft rum market are Bacardi Limited, Suntory Holdings Limited, Diageo, Maine Craft Distilling, LLC, Charles Merser & Co., Drum & Black Rum Company, Wicked Dolphin Rum, Domaines Ellam and Arizona Craft Beverage, Belize Spirits Marketing, Inc., Rockstar Spirits Ltd..
The craft rum market is expected to register a CAGR of 6.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Craft Rum Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Craft Rum Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Craft Rum Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Craft Rum Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Craft Rum Market Size & Forecast, 2020-2028
4.5.1 Craft Rum Market Size and Y-o-Y Growth
4.5.2 Craft Rum Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 White Rum
5.2.2 Black Rum
5.2.3 Golden Rum
5.2.4 Spiced Rum
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Bottle Stores
6.2.2 Bars
6.2.3 Online
6.2.4 Restaurants
6.2.5 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Craft Rum Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Craft Rum Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 White Rum
9.6.2 Black Rum
9.6.3 Golden Rum
9.6.4 Spiced Rum
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Bottle Stores
9.10.2 Bars
9.10.3 Online
9.10.4 Restaurants
9.10.5 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 White Rum
10.6.2 Black Rum
10.6.3 Golden Rum
10.6.4 Spiced Rum
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Bottle Stores
10.10.2 Bars
10.10.3 Online
10.10.4 Restaurants
10.10.5 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 White Rum
11.6.2 Black Rum
11.6.3 Golden Rum
11.6.4 Spiced Rum
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Bottle Stores
11.10.2 Bars
11.10.3 Online
11.10.4 Restaurants
11.10.5 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 White Rum
12.6.2 Black Rum
12.6.3 Golden Rum
12.6.4 Spiced Rum
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Bottle Stores
12.10.2 Bars
12.10.3 Online
12.10.4 Restaurants
12.10.5 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 White Rum
13.6.2 Black Rum
13.6.3 Golden Rum
13.6.4 Spiced Rum
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Bottle Stores
13.10.2 Bars
13.10.3 Online
13.10.4 Restaurants
13.10.5 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Craft Rum Market: Competitive Dashboard
14.2 Global Craft Rum Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Bacardi Limited
14.3.2 Suntory Holdings Limited
14.3.3 Diageo
14.3.4 Maine Craft Distilling, LLC
14.3.5 Charles Merser & Co.
14.3.6 Drum & Black Rum Company
14.3.7 Wicked Dolphin Rum
14.3.8 Domaines Ellam and Arizona Craft Beverage
14.3.9 Belize Spirits Marketing, Inc.
14.3.10 Rockstar Spirits Ltd.
