Market Overview:
The global spiced rum 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 spiced rum across different applications such as bottle stores, bars, online, restaurants and others. Additionally, the growing popularity of spiced rum among millennials is also propelling the growth of this market. On the basis of type, vanilla-flavored spiced rums are expected to dominate the global market during the forecast period owing to their high demand in different applications. On account of its sweet and creamy flavor profile, vanilla-flavored rums are preferred by most consumers across different regions.
Product Definition:
A spirit made from molasses and sugar cane, usually containing vanilla, cinnamon, allspice, and other spices. It is used in mixed drinks and as a flavoring for food.
Vanilla:
Vanilla is a flavor extracted from the vanilla plant ( Vanilla planifolia) by solvent extraction. The vanilla flavor is produced both chemically and naturally. Chemically, it’s production starts with ethyl alcohol base that has been treated with an edible acid like citric or malic acid to create the final product called as vanillin.
Fruit:
Fruit is an essential component of spiced rum. It adds color, flavor and aroma to the product. The fruit can be fresh or dried and its preparation depends on the method used for distillation of spirits.
The most commonly used fruits are apple, orange, pineapple, banana and grapes; however other fruits such as mangoes are also gaining popularity in this segment due to their unique taste characteristics which complement well with spices such as cinnamon powder or syrup.
Application Insights:
The global market is segmented by application into bottle stores, bars, online and restaurants. The bottle stores segment dominated the market in 2017 owing to the growing preference for drinking rum neat or with a few drops of mixer. Bottle stores are also considered as a convenient place to buy spiced rum as compared to shopping at convenience store or supermarkets.
The bars application segment is expected to witness significant growth over the forecast period owing to rising demand for cocktails and other mixed drinks containing spiced rum. Increasing number of bar & pubs across various regions has boosted product demand in this end-use industry over the recent years.
Regional Analysis:
North America is anticipated to be the key regional market for spice rum over the forecast period. The U.S., in particular, is expected to remain a lucrative market for industry participants during the forecast years owing to growing consumer demand and easy availability of products at retail shops as well as bars. Asia Pacific is projected to be one of the fastest-growing regional markets from 2018 to 2030 due primarilyto increasing per capita income levels and changing lifestyles in emerging economies such as India and China among others. Moreover, rising popularity spiced rums among consumers looking for alternatives other than vodka will also drive growth over the next eight years or so.
Europe was valued at USD X million in 2017 owing mainlyto high consumption levels across countries such as Spain, Italy.
Growth Factors:
- Increasing demand for premium and flavored spirits: The global spiced rum market is expected to grow at a CAGR of 5.5% during the forecast period. This can be attributed to the increasing demand for premium and flavored spirits, especially in developed countries.
- Growing popularity of cocktails: Spiced rum is being increasingly used in cocktails owing to its unique flavor profile, which sets it apart from other types of rum. This is likely to boost the growth of the spiced rum market in the coming years.
- Rising disposable income levels: With rising disposable income levels, consumers are increasingly inclined towards purchasing high-quality products such as spiced rums that offer better value for money than regular rums do.
Scope Of The Report
Report Attributes
Report Details
Report Title
Spiced Rum Market Research Report
By Type
Vanilla, Fruit, Mix, Others
By Application
Bottle Stores, Bars, Online, Restaurants, Others
By Companies
Diageo, Bacardi Limited, Suntory Holdings Limited, Destilería Serrallés, Heaven Hill Distillery, Admiral Nelson's Rum, Davide Campari-Milano S.p.A., Pernod Ricard, Maine Craft Distilling, LLC, Tanduay Distillers, Inc., Altitude Spirits, Inc., SEASPIRITS, Sazerac Co.
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
142
Number of Tables & Figures
100
Customization Available
Yes, the report can be customized as per your need.
Global Spiced Rum Market Report Segments:
The global Spiced Rum market is segmented on the basis of:
Types
Vanilla, Fruit, Mix, Others
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:
- Diageo
- Bacardi Limited
- Suntory Holdings Limited
- Destilería Serrallés
- Heaven Hill Distillery
- Admiral Nelson's Rum
- Davide Campari-Milano S.p.A.
- Pernod Ricard
- Maine Craft Distilling, LLC
- Tanduay Distillers, Inc.
- Altitude Spirits, Inc.
- SEASPIRITS
- Sazerac Co.
Highlights of The Spiced 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:
- Vanilla
- Fruit
- Mix
- Others
- 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 Spiced 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?
Spiced rum is a type of rum that has been infused with spices. Common spices used in spiced rums include ginger, cinnamon, allspice, and cloves.
Some of the major players in the spiced rum market are Diageo, Bacardi Limited, Suntory Holdings Limited, Destilera Serrall©s, Heaven Hill Distillery, Admiral Nelson's Rum, Davide Campari-Milano S.p.A., Pernod Ricard, Maine Craft Distilling, LLC, Tanduay Distillers, Inc., Altitude Spirits, Inc., SEASPIRITS, Sazerac Co..
The spiced rum 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 Spiced 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 Spiced Rum Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Spiced 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 Spiced 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 Spiced Rum Market Size & Forecast, 2020-2028
4.5.1 Spiced Rum Market Size and Y-o-Y Growth
4.5.2 Spiced 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 Vanilla
5.2.2 Fruit
5.2.3 Mix
5.2.4 Others
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 Spiced 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 Spiced 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 Vanilla
9.6.2 Fruit
9.6.3 Mix
9.6.4 Others
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 Vanilla
10.6.2 Fruit
10.6.3 Mix
10.6.4 Others
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 Vanilla
11.6.2 Fruit
11.6.3 Mix
11.6.4 Others
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 Vanilla
12.6.2 Fruit
12.6.3 Mix
12.6.4 Others
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 Vanilla
13.6.2 Fruit
13.6.3 Mix
13.6.4 Others
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 Spiced Rum Market: Competitive Dashboard
14.2 Global Spiced Rum Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Diageo
14.3.2 Bacardi Limited
14.3.3 Suntory Holdings Limited
14.3.4 Destilería Serrallés
14.3.5 Heaven Hill Distillery
14.3.6 Admiral Nelson's Rum
14.3.7 Davide Campari-Milano S.p.A.
14.3.8 Pernod Ricard
14.3.9 Maine Craft Distilling, LLC
14.3.10 Tanduay Distillers, Inc.
14.3.11 Altitude Spirits, Inc.
14.3.12 SEASPIRITS
14.3.13 Sazerac Co.
