The global craft rum market is expected to register an impressive CAGR during the forecast period. Craft rum and spirits have become more well-known in recent years due to widespread advertising, blogs, and numerous reviews in periodicals for aficionados of booze. Craft rum is becoming more popular in societies with developed cultures, and social media posts influence the shift in how alcohol is consumed. The average alcohol consumption in the United States was around 9.97 liters per person as of 2019. Compared to commercial distilleries, where production is done on a larger scale, craft distilleries focus more on quality and produce rum on a smaller scale. Particularly for frequent drinkers of alcohol, the fermentation and distillation processes involve the addition of more flavors, better taste, and enjoyable experiences by creating a new cocktail. Craft rum has a smoother flavor and is handled by bartenders involved in every step of the process. 

Rising consumer purchasing power, increased awareness of the potential health benefits of rum consumption, and rising demand for premium alcoholic beverages, including craft rum cocktails, are all expected to support the growth of the global market. However, some adverse effects such as indigestion, diarrhea, and vomiting linked to excessive rum consumption are anticipated to influence the market expansion.

Rising Popularity Among The Younger Generation Fuels The Market Growth

The younger generation is eager to taste various craft rum flavors. When visiting bars, hotels, pubs, and restaurants, millennials frequently spend money on premium rum brands. Even Baby Boomers and Generation X are consuming equally, if not more, alcoholic beverages and mixed drinks from craft distilleries. Craft rum is a recent addition to the category of alcohol preferred in recent years. The younger generation consumes alcohol while on vacation and frequently when spending time outdoors during parties and get-togethers. Craft spirits' continued growth in off-premises volume and value share has accelerated the expansion rate for small craft distilleries.

Introduction Of Different Flavors Drives The Market Growth

Craft rum producers have been developing new products with flavors and ingredients such as buttery caramel, smoky licorice, vanilla, and sweet syrups to improve the taste. Accordingly, to provide customers with distinctive menus; hotels, cafes, and restaurants are experimenting with dishes that use craft rum. Additionally, natural and organic ingredients free of harmful pesticides, fertilizers, and inorganic chemicals are being preferred by product manufacturers. For instance, Radico Khaitan is an Indian company that has launched its flavored rum under the Spirit of Victory family – 1965 Spirit of Victory Lemon Dash Rum. With this launch, the company also enters the white rum market, a new spirit category. Therefore, the launch of different flavors is driving the growth of the craft rum market.

Increasing Purchasing Power Drives The Market Growth

Individual income is a significant factor in determining alcoholic beverage sales and consumer purchasing power is based on income. Income of people has increased in recent years and owing to this there is more disposable income for buying food and drink items. It is expected that this factor will fuel the growth of the global rum market during the forecast period.


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Market Segmentation

The global craft rum market is segmented based on type, price range, distribution channel, region, and competitive landscape. Based on the type, the market is segmented into spiced rum, coconut rum, white rum, coffee rum, cranberry rum, and others (vanilla rum, orange rum). Based on price range, the market is segmented into low, medium, and high. Based on the distribution channel, the market is segmented into on trade and off trade. The market analysis also studies regional segmentation to devise regional market segmentation.

Company Profile      

Bacardi Limited, Suntory Holdings Limited, Diageo Plc, Maine Craft Distilling LLC., Charles Merser & Co., Drum & Black Rum Company, Burning Barn, Wicked Dolphin Rum Distillery, Rockstar Spirits Ltd., Belize Spirits Marketing, Inc., etc. are the major market players in the global platform that lead the market growth of the global craft rum market.

Attribute

Details

Base Year

2021

Historical Years

2017 – 2021

Estimated Year

2022

Forecast Period

2023 – 2027

Quantitative Units

Revenue in USD Billion and CAGR for 2017-2021 and 2022-2027

Report Coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered

·         Type

·         Price Range

·         Distribution Channel

·         Region

·         Competition

Regional Scope

North America, Europe, Asia-Pacific, Middle East & Africa, and South America

Country Scope

United States, Canada, Mexico, France, Germany, United Kingdom, Italy, Spain, China, India, Japan, South Korea, Australia, South Africa, Saudi Arabia, UAE, Turkey, Brazil, Argentina, Colombia

Key Companies Profiled

Bacardi Limited, Suntory Holdings Limited, Diageo Plc, Maine Craft Distilling LLC., Charles Merser & Co., Drum & Black Rum Company, Burning Barn, Wicked Dolphin Rum Distillery, Rockstar Spirits Ltd., Belize Spirits Marketing, Inc., etc.

Customization Scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and Purchase Options

Avail of customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request)

 

Report Scope:

In this report, the global craft rum market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  •   Craft Rum Market, By Type:
    • Spiced Rum
    • Coconut Rum
    • White Rum
    • Coffee Rum
    • Cranberry Rum
    • Others
  •   Craft Rum Market, By Price Range:
    • Low
    • Medium
    • High
  •   Craft Rum Market, By Distribution Channel:
    • On Trade
    • Off Trade

·           Craft Rum Market, By Region:

  • North America
    • United States
    • Canada
    • Mexico
  • Europe
    • France
    • Germany
    • The United Kingdom
    • Italy
    • Spain
  • Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
  • Middle East & Africa
    • Saudi Africa
    • South Arabia
    • UAE
    • Turkey
  • South America
    • Brazil
    • Argentina
    • Colombia 

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the global craft rum market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).
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1.    Product Overview

2.    Research Methodology

3.    Executive Summary

4.    Impact of COVID-19 on Global Craft Rum Market

5.    Voice of Customer

6.    Global Craft Rum Market Outlook

6.1.  Market Size & Forecast

6.1.1.     By Value

6.2.  Market Share & Forecast

6.2.1.     By Type (Spiced Rum, Coconut Rum, White Rum, Coffee Rum, Cranberry Rum and Others (Vanilla Rum, Orange Rum))

6.2.2.     By Price Range (Low, Medium and High)

6.2.3.     By Distribution Channel (On Trade Vs. Off Trade)

6.2.4.     By Region

6.2.5.     By Company

6.3.  Market Map

7.    North America Craft Rum Market Outlook

7.1.  Market Size & Forecast          

7.1.1.     By Value

7.2.  Market Share & Forecast

7.2.1.     By Type

7.2.2.     By Price Range

7.2.3.     By Distribution Channel

7.2.4.     By Country (United States, Canada, Mexico and Rest of North America)

7.3.  North America: Country Analysis

7.3.1.     United States Craft Rum Market Outlook

7.3.1.1.         Market Size & Forecast

7.3.1.1.1.             By Value

7.3.1.2.         Market Share & Forecast

7.3.1.2.1.             By Type

7.3.1.2.2.             By Price Range

7.3.1.2.3.             By Distribution Channel

7.3.2.     Canada Craft Rum Market Outlook

7.3.2.1.         Market Size & Forecast

7.3.2.1.1.             By Value

7.3.2.2.         Market Share & Forecast

7.3.2.2.1.             By Type

7.3.2.2.2.             By Price Range

7.3.2.2.3.             By Distribution Channel

7.3.3.     Mexico Craft Rum Market Outlook

7.3.3.1.         Market Size & Forecast

7.3.3.1.1.             By Value

7.3.3.2.         Market Share & Forecast

7.3.3.2.1.             By Type

7.3.3.2.2.             By Price Range

7.3.3.2.3.             By Distribution Channel

8.    Europe Craft Rum Market Outlook

8.1.  Market Size & Forecast          

8.1.1.     By Value

8.2.  Market Share & Forecast

8.2.1.     By Type

8.2.2.     By Price Range

8.2.3.     By Distribution Channel

8.2.4.     By Country (France, Germany, UK, Italy, Spain and Rest of Europe)

8.3.  Europe: Country Analysis

8.3.1.     France Craft Rum Market Outlook

8.3.1.1.         Market Size & Forecast

8.3.1.1.1.             By Value

8.3.1.2.         Market Share & Forecast

8.3.1.2.1.             By Type

8.3.1.2.2.             By Price Range

8.3.1.2.3.             By Distribution Channel

8.3.2.     Germany Craft Rum Market Outlook

8.3.2.1.         Market Size & Forecast

8.3.2.1.1.             By Value

8.3.2.2.         Market Share & Forecast

8.3.2.2.1.             By Type

8.3.2.2.2.             By Price Range

8.3.2.2.3.             By Distribution Channel

8.3.3.     United Kingdom Craft Rum Market Outlook

8.3.3.1.         Market Size & Forecast

8.3.3.1.1.             By Value

8.3.3.2.         Market Share & Forecast

8.3.3.2.1.             By Type

8.3.3.2.2.             By Price Range

8.3.3.2.3.             By Distribution Channel

8.3.4.     Italy Craft Rum Market Outlook

8.3.4.1.         Market Size & Forecast

8.3.4.1.1.             By Value

8.3.4.2.         Market Share & Forecast

8.3.4.2.1.             By Type

8.3.4.2.2.             By Price Range

8.3.4.2.3.             By Distribution Channel

8.3.5.     Spain Craft Rum Market Outlook

8.3.5.1.         Market Size & Forecast

8.3.5.1.1.             By Value

8.3.5.2.         Market Share & Forecast

8.3.5.2.1.             By Type

8.3.5.2.2.             By Price Range

8.3.5.2.3.             By Distribution Channel

9.    Asia-Pacific Craft Rum Market Outlook

9.1.  Market Size & Forecast          

9.1.1.     By Value

9.2.  Market Share & Forecast

9.2.1.     By Type

9.2.2.     By Price Range

9.2.3.     By Distribution Channel

9.2.4.     By Country (China; India; Japan; South Korea; Australia; and Rest of Asia Pacific)

9.3.  Asia-Pacific: Country Analysis

9.3.1.     China Craft Rum Market Outlook

9.3.1.1.         Market Size & Forecast

9.3.1.1.1.             By Value

9.3.1.2.         Market Share & Forecast

9.3.1.2.1.             By Type

9.3.1.2.2.             By Price Range

9.3.1.2.3.             By Distribution Channel

9.3.2.     India Craft Rum Market Outlook

9.3.2.1.         Market Size & Forecast

9.3.2.1.1.             By Value

9.3.2.2.         Market Share & Forecast

9.3.2.2.1.             By Type

9.3.2.2.2.             By Price Range

9.3.2.2.3.             By Distribution Channel

9.3.3.     Japan Craft Rum Market Outlook

9.3.3.1.         Market Size & Forecast

9.3.3.1.1.             By Value

9.3.3.2.         Market Share & Forecast

9.3.3.2.1.             By Type

9.3.3.2.2.             By Price Range

9.3.3.2.3.             By Distribution Channel

9.3.4.     South Korea Craft Rum Market Outlook

9.3.4.1.         Market Size & Forecast

9.3.4.1.1.             By Value

9.3.4.2.         Market Share & Forecast

9.3.4.2.1.             By Type

9.3.4.2.2.             By Price Range

9.3.4.2.3.             By Distribution Channel

9.3.5.     Australia Craft Rum Market Outlook

9.3.5.1.         Market Size & Forecast

9.3.5.1.1.             By Value

9.3.5.2.         Market Share & Forecast

9.3.5.2.1.             By Type

9.3.5.2.2.             By Price Range

9.3.5.2.3.             By Distribution Channel

10.  Middle East and Africa Craft Rum Market Outlook

10.1.              Market Size & Forecast

10.1.1.  By Value

10.2.              Market Share & Forecast

10.2.1.  By Type

10.2.2.  By Price Range

10.2.3.  By Distribution Channel

10.2.4.  By Country (UAE; Saudi Arabia; South Africa and Rest of Middle East & Africa)

10.3.              MEA: Country Analysis

10.3.1.  South Africa Craft Rum Market Outlook

10.3.1.1.      Market Size & Forecast

10.3.1.1.1.           By Value

10.3.1.2.      Market Share & Forecast

10.3.1.2.1.           By Type

10.3.1.2.2.           By Price Range

10.3.1.2.3.           By Distribution Channel

10.3.2.  Saudi Arabia Craft Rum Market Outlook

10.3.2.1.      Market Size & Forecast

10.3.2.1.1.           By Value

10.3.2.2.      Market Share & Forecast

10.3.2.2.1.           By Type

10.3.2.2.2.           By Price Range

10.3.2.2.3.           By Distribution Channel

10.3.3.  UAE Craft Rum Market Outlook

10.3.3.1.      Market Size & Forecast

10.3.3.1.1.           By Value

10.3.3.2.      Market Share & Forecast

10.3.3.2.1.           By Type

10.3.3.2.2.           By Price Range

10.3.3.2.3.           By Distribution Channel

10.3.4.  Turkey Craft Rum Market Outlook

10.3.4.1.      Market Size & Forecast

10.3.4.1.1.           By Value

10.3.4.2.      Market Share & Forecast

10.3.4.2.1.           By Type

10.3.4.2.2.           By Price Range

10.3.4.2.3.           By Distribution Channel

11.  South America Craft Rum Market Outlook

11.1.              Market Size & Forecast

11.1.1.  By Value

11.2.              Market Share & Forecast

11.2.1.  By Type

11.2.2.  By Price Range

11.2.3.  By Distribution Channel

11.2.4.  By Country (Brazil, Argentina, Colombia, and Rest of South America)

11.3.              South America: Country Analysis

11.3.1.  Brazil Craft Rum Market Outlook

11.3.1.1.      Market Size & Forecast

11.3.1.1.1.           By Value

11.3.1.2.      Market Share & Forecast

11.3.1.2.1.           By Type

11.3.1.2.2.           By Price Range

11.3.1.2.3.           By Distribution Channel

11.3.2.  Argentina Craft Rum Market Outlook

11.3.2.1.      Market Size & Forecast

11.3.2.1.1.           By Value

11.3.2.2.      Market Share & Forecast

11.3.2.2.1.           By Type

11.3.2.2.2.           By Price Range

11.3.2.2.3.           By Distribution Channel

11.3.3.  Colombia Craft Rum Market Outlook

11.3.3.1.      Market Size & Forecast

11.3.3.1.1.           By Value

11.3.3.2.      Market Share & Forecast

11.3.3.2.1.           By Type

11.3.3.2.2.           By Price Range

11.3.3.2.3.           By Distribution Channel

12.  Market Dynamics

12.1.              Drivers

12.2.              Challenges

13.  Market Trends & Developments

14.  Competitive Landscape

14.1.              Company Profiles

14.1.1.  Bacardi Limited

14.1.2.  Suntory Holdings Limited

14.1.3.  Diageo Plc

14.1.4.  Maine Craft Distilling LLC.

14.1.5.  Charles Merser & Co.

14.1.6.  Drum & Black Rum Company

14.1.7.  Burning Barn

14.1.8.  Wicked Dolphin Rum Distillery

14.1.9.  Rockstar Spirits Ltd.

14.1.10.                Belize Spirits Marketing, Inc.

15.  Strategic Recommendations

16.  About Us & Disclaimer

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