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Global Spiced/Flavoured Rum Market to Reach USD 8 Billion by 2025, Aided by the Changing Lifestyles

According to a new report by EMR titled, ‘Global Spiced/Flavoured Rum Market Report and Forecast 2020-2025’, the global market for spiced/flavoured rum reached a value of about USD 6.2 billion in 2019. The industry is expected to grow at a CAGR of 4% in the forecast period of 2020-2025 to reach a value of around USD 8 billion by 2025.

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).

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 (2015-2019) and (2020-2025).
  • The report also offers the historical (2015-2019) and forecast (2020-2025) 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.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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