Diageo plc., Bacardi Limited, Pernod Ricard SA., Maine Craft Distilling, LLC., and Altitude Spirits, Inc., among others, are the major players in the global market for spiced/flavoured rum.
As per the analysis by Expert Market Research, the global spiced/flavoured rum market is expected to grow at a CAGR of 4% in the forecast period of 2022-2027, owing to the introduction of innovative flavours.
With the cocktail revolution, the industry has gained significant attention from people who are interested in both traditional and exotic flavours. This has led to an increase in the demand for spiced spirits among the customers, thereby propelling the spiced/flavoured rum market. With the changes in the lifestyle of people and the rising economies, the demand for rum and gin has increased among consumers. This will likely boost the market growth in the forecast period.
The demand for rum in cocktails has expanded, which is helping the spiced/flavoured rum market expand. Flavoured rum gives drinks a unique flavour, and spicy rum is frequently combined with cola because it is simple to make. In the upcoming years, the market's expansion is anticipated to be aided by the release of new spiced rum variants.
In 2020, the Asia Pacific region's spiced/flavoured rum market accounted for a significant portion of the global market and is predicted to grow strongly over the coming years. Rising consumer demand from nations like China, India, Japan, South Korea, Philippines, and Australia is driving the region's growth. Due to the rapidly increasing demand for gin and rum, South Korea is driving the regional consumer demand.
Bacardi announced in November 2020 that it had acquired TAILS, a premium crafted and batched cocktail company. Premium brands from the Bacardi portfolio are used to create TAILS cocktails, which are then pre-batch-produced in bottles or on draught so that all bartenders, no matter where they are, may serve unique cocktails fast, consistently, and in large quantities.
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|Headquarters:||London, United Kingdom|
Diageo plc. is one of the world’s leading companies in alcoholic beverages, with an outstanding collection of brands across beers and spirits. Their products are exported and sold to more than 180 countries across the world. It has nearly 200 outstanding brands. Some of them are Black & White, Johnnie Walker, Bulleit, Smirnoff and more.
Bacardi Ltd, a family-owned company for seven generations, is one of the largest privately held spirits company in the world. The company has more than 200 brands and labels. Their products are consumed in more than 170 countries across the world. Some of the brands are Bacardi rum, Grey Goose vodka, Bombay Sapphire gin, Martini vermouths and many more.
Pernod Ricard SA. is one of the world’s leading wines and spirits companies. More than 160 countries can purchase the 240 premium brands the Group represents. With every significant category of wine and spirits represented in the portfolio, it is one of the most complete on the market, giving Pernod Ricard a distinct competitive advantage.
|Headquarters:||Maine, United States|
In Portland, Maine, Maine Craft Distilling is a farm-to-flask distillery that creates small batch spirits. The company manufactures and sells a wide range of alcoholic beverages like whiskey, vodka, gin, rum, canned cocktails, spirits, brandy and many more. Queequeg rum is a beverage offered by the company which is blended with spices and fruits.
|Headquarters:||Colorado, United States|
Altitude Spirits is a company that supplies outstanding organic artisan spirits to customers worldwide. Their craft production generates a portfolio of the finest organic spirits. Their portfolio has a lot of different varieties of products that come from different nations and cultures. Some of the products offered by the company are vodka 14, scotch whiskey, juniper green gin, papagayo spiced and platinum rum, among others.
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.