Global Spiced/Flavoured Rum Market to Reach USD 10.28 billion by 2032, Aided by the Changing Lifestyles

The global spiced/flavoured rum industry is primarily being driven by the changing lifestyles and shifting consumer preference towards premium alcoholic beverages. The industry has excellent growth potential owing to the willingness of the consumers, especially millennials, to try new and innovative drinks. The competition among the key players is getting intense, and they are experimenting more in order to bring more flavours and variety to their product. These factors are expected to aid the growth of the spiced/flavoured rum industry in the coming years.

In 2018, one of the key players, Diageo plc (NYSE: DEO), under their brand Captain Morgan introduced the newest prefaced shot, Captain Morgan Apple Smash, which fuses green apple with Caribbean rum. Captain Morgan Apple Smash could also be served in a variety of cocktail, but it is best for a chilled shot. The packaging of Apple Smash matches an apple, and when scratching, the bottle emanates the scent of the tart green fruit. Captain Morgan Original Spiced Rum is also widely amazon on online distribution channels, including Drizly and Amazon.com, Inc. (NASDAQ: AMZN).

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Market Analysis by Product, Type, Distribution Channel, and Region:

• The products of spiced/flavoured rum can be divided into vanilla, fruit, and mix, among others.

• The types of the product include white, gold, and dark spiced rum.

• The distribution channels of spiced/flavoured rum can be divided into on-trade and off-trade.

• The regional markets for spiced/flavoured rum include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The market is being driven by the rising demand for alcoholic beverages among the consumers.

• The changing lifestyles of the consumers are also leading to the rising demand for the product.

• The industry is also being propelled by the rising innovations with the product in the food industry.

• Other factors catalysing the market growth include rising population, rapid economic growth, and increasing disposable incomes.

Key Offerings of the Report:

• The EMR report gives an overview of the global market for spiced/flavoured rum for the periods (2018-2023) and (2024-2032).

• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the products, types, distribution channels, and major regions of spiced/flavoured rum.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global spiced/flavoured rum market are Diageo plc., Bacardi Limited, Pernod Ricard SA., Maine Craft Distilling, LLC., and Altitude Spirits, Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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