Market Overview:
The global rum flavour market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for rum flavoured products in food and drink applications. In terms of type, the concentrated segment is expected to dominate the global rum flavour market during the forecast period, followed by non-concentrated segment. In terms of application, food segment is expected to account for a major share of the global rum flavour market during 2018-2030 owing to its growing demand in bakery and confectionery products. However, drink application is projected to grow at a higher CAGR than food application during 2018-2030 due To rising demand for cocktails and mocktails across regions.
Product Definition:
Rum flavouring is obtained from the distillation of molasses, which is a by-product of sugar refining. Rum flavour can be used to enhance the taste of many foods and drinks.
Concentrated:
Concentrated is a new term in the rum market that was created to define products with 40% Alcohol By Volume (ABV) or more. The product has been around for quite some time, but it's usage has always been limited to premium products.
Non-Concentrated:
Non-Concentrated is a new term in the rum industry and it means that the distillate (alcohol) has not been diluted with water or any other liquids. It is also known as straight-run or undenatured alcohol. The most common types of non-concentrated spirits are vodka, gin, whiskey and brandy.
Application Insights:
The food application segment led the global rum flavour market in 2017 and is projected to expand at a revenue-based CAGR of XX% over the forecast period. The growth can be attributed to increasing consumption of rums by individuals as well as alcoholic beverages in various restaurants, bars and hotels around the world.
Non-alcoholic beverages are expected to witness significant growth over the coming years owing to rising consumer awareness regarding health benefits associated with flavoured water and soft drinks, including regular intake of vitamin B6, vitamin C, potassium and manganese. In addition, growing demand for functional drinks is anticipated drive product demand over the forecast period.
Drink manufacturers are also increasingly using these products for manufacturing cocktails that include rum as it provides an authentic taste experience along with other essential ingredients such as fruits juices & herbs that enhance its overall appeal in cocktails making process.
Regional Analysis:
North America dominated the global market in 2017. The region is expected to maintain its position over the forecast period owing to high demand for premium and adult beverages. In addition, growing trend of cocktails among millennials is anticipated to drive product demand in this region. Europe also held a significant share of global rum market due to high consumption rates, especially among consumers aged between 25 and 44 years.
Asia Pacific is expected witness fastest growth over the forecast period owing to increasing per capita income levels coupled with rising consumer disposable income levels in emerging economies such as China and India. Growing tourism industry has led consumers from developed countries like U.K., Germany, France etc., who consume alcohol on a regular basis, which will further boost regional product sales over the next eight years time span).
Growth Factors:
- Increasing demand for premium and artisanal rums
- Growing popularity of cocktails and mixed drinks that contain rum
- Rum being used in more innovative ways, such as in cooking and baking
- More people discovering the versatility and flavour of rum
- Rum becoming more popular as a gift or souvenir
Scope Of The Report
Report Attributes
Report Details
Report Title
Rum Flavour Market Research Report
By Type
Concentrated, Non-Concentrated
By Application
Food, Drink, Others
By Companies
Rum, Foodie Flavours, SAUER'S, Flavor West, Beanilla, Firmenich, Bakto Flavors, Nactis Flavours
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
216
Number of Tables & Figures
152
Customization Available
Yes, the report can be customized as per your need.
Global Rum Flavour Market Report Segments:
The global Rum Flavour market is segmented on the basis of:
Types
Concentrated, Non-Concentrated
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
Food, Drink, 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:
- Rum
- Foodie Flavours
- SAUER'S
- Flavor West
- Beanilla
- Firmenich
- Bakto Flavors
- Nactis Flavours
Highlights of The Rum Flavour 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:
- Concentrated
- Non-Concentrated
- By Application:
- Food
- Drink
- 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 Rum Flavour 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?
Rum flavour is a characteristic of rum that can be described as sweet, smoky, and slightly bitter.
Some of the major companies in the rum flavour market are Rum, Foodie Flavours, SAUER'S, Flavor West, Beanilla, Firmenich, Bakto Flavors, Nactis Flavours.
The rum flavour market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Rum Flavour 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 Rum Flavour Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Rum Flavour 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 Rum Flavour 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 Rum Flavour Market Size & Forecast, 2020-2028
4.5.1 Rum Flavour Market Size and Y-o-Y Growth
4.5.2 Rum Flavour 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 Concentrated
5.2.2 Non-Concentrated
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 Food
6.2.2 Drink
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Rum Flavour 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 Rum Flavour 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 Concentrated
9.6.2 Non-Concentrated
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 Food
9.10.2 Drink
9.10.3 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 Concentrated
10.6.2 Non-Concentrated
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 Food
10.10.2 Drink
10.10.3 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 Concentrated
11.6.2 Non-Concentrated
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 Food
11.10.2 Drink
11.10.3 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 Concentrated
12.6.2 Non-Concentrated
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 Food
12.10.2 Drink
12.10.3 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 Concentrated
13.6.2 Non-Concentrated
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 Food
13.10.2 Drink
13.10.3 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 Rum Flavour Market: Competitive Dashboard
14.2 Global Rum Flavour Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Rum
14.3.2 Foodie Flavours
14.3.3 SAUER'S
14.3.4 Flavor West
14.3.5 Beanilla
14.3.6 Firmenich
14.3.7 Bakto Flavors
14.3.8 Nactis Flavours
