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The global spiced/flavoured rum market reached a value of about USD 7.01 billion in 2023. The industry is further expected to grow at a CAGR of 4.3% in the forecast period of 2024-2032 to reach a value of around USD 10.28 billion by 2032.
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The spiced/flavoured rum industry in the Asia Pacific held a significant share in the global market in 2020 and is most likely to witness a healthy rise in the forecast period as well. The growth in the region is being triggered by the rising consumer demand from countries like China, India, Japan, South Korea, Philippines, and Australia. South Korea is particularly leading the consumer demand within the region owing to the booming demand for gin and rum. Apart from the Asia Pacific, Europe is also anticipated to witness a significant growth in the coming years. The demand for spiced rum is on a rise in Germany due to its rising popularity among the consumers.
The industry is significantly being supported by the cocktail revolution, which has been extremely helpful in gaining attention from drinkers who are interested in both flavours, that is traditional as well as exotic. This has led to a robust demand for spiced spirits among the consumers, leading to the rising sales of spiced rums in bars, restaurants, and pubs.
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Rum is an alcoholic drink made from sugar cane molasses or directly from sugar cane juice by fermenting and distilling. The spicy-flavoured rum contains numerous aromas as well as spices, which are added to a special mixture of spirits. Initially developed to meet medical needs, the spicy rum is becoming more popular with its distinctive flavour and persistent market demand for new exciting liquefied aromas. The flavour of the spices ranges from ginger, garlic, cinnamon, clove, and others, to which common aromatic agents for spicy rums are added like fruit extracts, including citrus, mint, an apple, coconut, and mango. Spicy/flavoured rum makers, like Diageo and Captain Morgan are the bestsellers of spicy rum, with distinct vanilla and caramel taste.
Based on product, the industry can be divided into:
On the basis of type, the product can be categorised as follows:
The distribution channels can be bifurcated into on-trade and off-trade.
The regional markets for spiced/flavoured rum can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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The global spiced/flavoured rum industry is being driven by various factors including the rising economies, changing lifestyles of the consumers, as well as their increasing disposable incomes. The market growth is supported by the rising preferences of the consumers for rum and gin. The demand for spiced/ flavoured rum is thriving owing to the rising experiments and innovations with the product at various pubs, bars, and restaurants. The increased demand for rums in cocktails is also aiding the market growth as flavoured rum provides a special taste to drinks, plus spicy rum is normally consumed with cola due to its ease of preparation. The introduction of new varieties of spiced rum is expected to bolster the growth of the market in the coming years.
The report gives a detailed analysis of the following key players in the global spiced/flavoured rum industry, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product |
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| Breakup by Type |
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| Breakup by Distribution Channel |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2023, the global spiced/flavoured rum market attained a value of nearly USD 7.01 billion.
The market is projected to grow at a CAGR of 4.3% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 10.28 billion by 2032.
The major drivers of the market include the growing demand for spiced/flavoured rum in the Asia Pacific, cocktail revolution, and the rising availability of spiced rums in pubs, restaurants, and bars, among others.
The key trends guiding the market include the introduction of new varieties of spiced rum, rising disposable incomes, the growing consumer inclination towards rum and gin, and the increasing product innovations by key players.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The leading products of spiced/flavoured rum in the market are vanilla, fruit, and mix, among others.
The major types of spiced/flavoured rum in the market are white, gold, and dark spiced rum.
The significant distribution channels in the market are on-trade and off-trade.
The major players in the market are Diageo plc., Bacardi Limited, Pernod Ricard SA., Maine Craft Distilling, LLC., and Altitude Spirits, Inc., among others.
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Australia
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+91-858-608-1494
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United States (Head Office)
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+1-415-325-5166
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124
United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124
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