What is the current Rum Market size? The Rum Market is projected to register a CAGR of 5.30% during the forecast period (2024-2029)

   Who are the key players in Rum Market?
   Bacardi Limited, HOVI Trading Ltd, Westerhall Estate Ltd., Tanduay Distillers, Inc. and Diageo are the major companies operating in the Rum Market.

   Which is the fastest growing region in Rum Market?
   Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

   Which region has the biggest share in Rum Market?
   In 2024, the Europe accounts for the largest market share in Rum Market.

   What years does this Rum Market cover?
   The report covers the Rum Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Rum Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

   What are the sustainable practices being adopted by Rum manufacturers to reduce environmental impact?
   The sustainable practices being adopted by Rum manufacturers to reduce environmental impact are a) Use of local ingredients b) Energy-efficient production methods C) Responsible waste management practices

   The global rum market, buoyed by a growing consumer affinity for diverse alcoholic beverages and a robust cocktail culture, is on the ascent, driven by demands for natural ingredient-based varieties and unique cocktail experiences. The market is witnessing significant traction in the premium sectors, where innovation and superior quality are pivotal in attracting new consumer demographics. A shift towards healthier, plant-based options and an interest in craft rum underscore a broader trend towards authenticity and premiumization in the industry. This evolution in consumer preference is bolstered by the expanding reach of online retail, offering unparalleled choice and convenience. Furthermore, the burgeoning craft and artisanal rum segment, celebrated for its distinct flavors and rich provenance, is increasingly appealing to millennials and Gen Z consumers, signaling a promising future for the market. Despite hurdles like regulatory challenges and counterfeit products, the rum market shines with prospects of innovation, diversification, and an eager audience for authentic, high-grade, and artisanal rum offerings, as highlighted in recent industry analyses by Mordor Intelligence™. Get a sample of this industry analysis as a free report PDF download.

   Rum Report Covers the Following Regions:NA, North America, North American, EU, Europe, European, APAC, Asia-Pacific, Asian, SA, South America, South American, MEA, Middle East and Africa, Middle Eastern and African, MENA, Middle East, Middle Eastern, Africa, African

The combined revenue in the 'Rum' segment of the alcoholic drinks market in the United States was forecast to continuously increase between 2024 and 2029 by in total 0.4 billion U.S. dollars (+14.13 percent). After the ninth consecutive increasing year, the combined revenue is estimated to reach 3.2 billion U.S. dollars and therefore a new peak in 2029. Find further information concerning average consumption per capita in the United States and revenue in Poland. The Statista Market Insights cover a broad range of additional markets.

The global dark rum market size is estimated to total USD 953.1 million in 2024 and USD 1,510 million by 2034. Sales are projected to rise at a CAGR of 4.7% over the forecast period between 2024 and 2034. The revenue generated by dark rum in 2023 was USD 906 million.

Attributes	Description
Historical Size, 2023	USD 906 million
Estimated Size, 2024	USD 953.1 million
Projected Size, 2034	USD 1,510 million
Value-based CAGR (2024 to 2034)	4.7%

Country-wise Insights

Countries	CAGR 2024 to 2034
United States	5%
United Kingdom	5.9%
China	5.4%
Japan	6.4%
South Korea	7.1%

Category-wise Insights

Segment	40% ABV (Alcohol Content)
Value Share (2023)	52%

Segment	Liquor Store (Sales Channel)
Value Share (2023)	75%

The global craft rum market size reached USD 1.4 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 2.5 Billion by 2033, exhibiting a growth rate (CAGR) of 6.3% during 2025-2033.

Report Attribute	Key Statistics
Base Year	2024
Forecast Years	2025-2033
Historical Years	2019-2024
Market Size in 2024	USD 1.4 Billion
Market Forecast in 2033	USD 2.5 Billion
Market Growth Rate (2025-2033)	6.3%

IMARC Group provides an analysis of the key trends in each segment of the global craft rum market report, along with forecasts at the global, regional and country levels from 2025-2033. Our report has categorized the market based on age and distribution channel.

Tanduay was the leading brand of rum in the world in 2023 with sales of 23.4 million cases. Bacardi was the second largest global rum brand that year, with a sales volume of about 20.6 million-9 liter cases. Global Spirits IndustryThe term “spirits” refers to an alcoholic beverage that has been distilled, contains no added sugar, and has at least 20 percent alcohol by volume. The term is derived from the medieval practice of alchemy and refers to the essential liquid element obtained from a substance through distillation, the “spirit” of the substance, so to speak. Popular spirits include whiskey, rum, vodka, tequila, and gin, among others. Made from fermented sugar cane or molasses, rum first rose to prominence in the sugar cane fields of the Caribbean in the 17th century; which still remains the center of world production. Despite being around for centuries, rum is still seen as a relatively unexploited segment. Indeed it is already a diverse and eclectic category with a wide geographic spread but there are a number of regions where it remains relatively underdeveloped. Rum has been described as a bit more relaxed and carefree, even maverick compared to other spirits categories

Spiced Rum Market is expected to grow at a high CAGR during the forecast period 2024-2031 | DataM Intelligence

Explore the Rum Market trends! Covers key players, growth rate 5.5% CAGR, market size $19.07 Billion, and forecasts to 2034. Get insights now!

The Chinese rum market reached $516M in 2024, standing approx. at the previous year. The market value increased at an average annual rate of +3.9% from 2012 to 2024; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Rum consumption peaked at $558M in 2020; however, from 2021 to 2024, consumption remained at a lower figure.

The global dark rum market was valued at USD 3.73 billion in 2025 and is projected to grow at a CAGR of 3.53% during the forecast period (2025-2033). Asia Pacific is expected to be the fastest-growing regional market, driven by the rising demand for premium spirits and the increasing popularity of cocktails. Key drivers of the market include the growing popularity of dark rum in cocktails, the increasing demand for premium spirits, and the rising disposable income of consumers. However, the market is restrained by the high cost of production and the increasing competition from other types of spirits. Recent developments include: Recent developments in the Dark Rum Market reveal a dynamic landscape, with key players like Diageo, Bacardi, and Pernod Ricard actively innovating and expanding their portfolios. Illusionist Spirits has garnered attention with its unique offerings, while Campari Group continues to enhance its market presence. In acquisitions, notable activity includes Bacardi's strategic acquisition aimed at strengthening its foothold in the craft segment alongside Tanduay Distillers, looking to expand its distribution networks internationally. Growth in consumer interest towards premium and aged dark rums is driving market valuation, with brands like Ron Diplomático and Zacapa witnessing an uptick in sales, reflective of changing consumer preferences for quality over quantity. The Boston Beer Company is also diversifying into dark rum, showcasing the intersection of spirits and craft beer. Additionally, Heaven Hill Distilleries and William Grant & Sons are focusing on sustainable practices, responding to rising eco-conscious consumer behavior. Overall, the dark rum market's expansion is tied to these companies' innovative strategies and shifting consumer demographics, contributing to a robust and evolving competitive environment.. Key drivers for this market are: Rising demand for premium products, Growth in online alcohol sales; Craft distillery innovations; Increasing cocktail culture; Expansion in developing regions. Potential restraints include: increasing craft rum popularity, rising consumer preference for premium products; growth in cocktail culture; expanding distribution channels; increasing tourism and travel consumption.

According to Cognitive Market Research, the global Rum market size is USD 15842.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 6.00% from 2024 to 2031.

North America held the major market of more than 40% of the global revenue with a market size of USD 6336.88 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.2% from 2024 to 2031.
Europe accounted for a share of over 30% of the global market size of USD 4752.66 million.
Asia Pacific held the market of around 23% of the global revenue with a market size of USD 3643.71 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.0% from 2024 to 2031.
Latin America market of more than 5% of the global revenue with a market size of USD 792.11 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.4% from 2024 to 2031.
Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 316.84 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.7% from 2024 to 2031.
The Hypermarkets or Supermarkets held the highest Rum market revenue share in 2024.

Market Dynamics of Rum Market

Key Drivers for Rum Market

Rising Demand for Craft Rum to Propel the Market Revenue Growth

The main factor driving market expansion is the growing demand for premium quality craft rum. As discerning customers look for smooth flavor profiles and authentic flavor sensations, premium quality and craft spirits are becoming more and more popular. A prime instance of this trend is the release by Diageo of the Captain Morgan Sherry Oak Finish, which is aimed at lovers of the premium rum category and is a matured, sherry cask-aged variety. This expansion is accelerated by consumers' willingness to try limited-edition flavors and products made with unusual ingredients, which encourages distilleries to improve their goods. Due to the global boom in premium rum types, market participants are deliberately introducing new goods to lure consumers into spending more money, which will further propel the market's rise throughout the projection period.

Increasing Online Sales of Rum to Boost Market Growth

The rise in rum sales via e-commerce platforms is the main trend driving industry expansion. The tendency of buying rum online has been strengthened by the transition to internet shopping during the COVID-19 epidemic, which provides consumers with convenience and security. Specialty liquor stores and online retailers such as Total Wine and More have increased the variety of brands, flavors, and ages they offer. Descriptive product descriptions, evaluations, and ratings help consumers make well-informed decisions. This trend is also being driven by the increasing popularity of online tastings and events, like Master of Malt's "Rum Masterclass," which encourages communication between experts and enthusiasts. As a result, online rum market keeps growing, offering customers convenience and diversity in a growing retail environment.

Restraint Factor for the Rum Market

Supply Chain Disruption to Limit the Expansion of the Market

The sugarcane business has major obstacles in the worldwide market due to its susceptibility to natural disasters and climate change. The production of sugarcane, a vital component in the making of rum, is directly impacted by hurricanes, protracted droughts, intense rainfall, and other unpredictable weather patterns brought on by climate change. Long-term trends in climate change also threaten sugarcane farming's sustainability, which will have an impact on the price and availability of this essential component of rum production in the future. Therefore, throughout the forecast period, disruptions to the supply chain may hinder the growth of the global market.

Impact of Covid-19 on the Rum Market

The COVID-19 pandemic has had a significant impact on the rum market, affecting various aspects of production, distribution, and consumption. Transportation difficulties, travel restrictions, and lockdowns have made the rum supply chain more difficult to manage. Distilleries encountered challenges locating raw materials, including sugarcane, and moving completed goods to distributors and retailers. Additionally, the closure of bars, restaurants, and other hospitality venues during lockdowns resulted in a sharp decline in on-premise consumption of rum. This had a direct impact on sal...

The combined revenue in the 'Rum' segment of the alcoholic drinks market in Poland was forecast to continuously increase between 2024 and 2029 by in total 6.2 million U.S. dollars (+19.22 percent). After the tenth consecutive increasing year, the combined revenue is estimated to reach 38.46 million U.S. dollars and therefore a new peak in 2029. Notably, the combined revenue of the 'Rum' segment of the alcoholic drinks market was continuously increasing over the past years.Find further information concerning volume worldwide and revenue in the United States. The Statista Market Insights cover a broad range of additional markets.

The United States rum market is estimated to grow at a CAGR of 6.40% during the forecast period of 2025-2034. The market is being aided by the growing demand for aged and white rum.

Rum Market Size Value in Finland, 2021 Discover more data with ReportLinker!

The UK rum market dropped markedly to $72M in 2024, shrinking by -35.7% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption showed a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $113M in 2020; however, from 2021 to 2024, consumption failed to regain momentum.

The Latin American rum market rose to $321M in 2024, with an increase of 2.1% against the previous year. In general, consumption, however, saw a slight setback. The level of consumption peaked at $387M in 2012; however, from 2013 to 2024, consumption remained at a lower figure.

Forecast: Rum Market Size Value in France 2022 - 2026 Discover more data with ReportLinker!

The Rum Market can be segmented by type, category, distribution channel, and region.TypeWhite RumDark RumCategoryStandard RumOverproof RumDistribution ChannelHypermarkets and SupermarketsSpecialty StoresOthersRegionAmericasEuropeAsia PacificRest of the World Recent developments include: In February 2022: Casalu, a rum-based hard seltzer, is scheduled to debut later this month in Miami with the goal of fostering a sense of ancestry and belonging while enabling individuals to enjoy Hispanic culture. aged dark rum, 5.9% vol. "Limón," Casalu's debut release, is clean and well-balanced with just the right amount of buzz. It gives the hard seltzer market a true Latino flavour. The business and its founders are based in the United States, and they are assisted by a group of seasoned professionals from the beverage and entertainment industries., In April 2022, A variety of rums from the French discipline and the tropical passion of centuries-old Indian workmanship were presented by the French artisanal rum firm "Plantation." The two Plantation Rum contenders, 3 Stars and Original Dark, were introduced in Mumbai and Goa, respectively. Third Eye Distillery (TED), the parent firm of Stranger and Sons, will serve as the official partner for the brand in India., In July 2022, the Bush Rum Co., a United Kingdom-owned company, launched its sustainable drink in India through a local partner, Mumbai-based Monika Alcobev Limited. In addition, the company has introduced brands such as Jose Cuervo, Templeton Rye whisky, and Rutini wines to the country.. Notable trends are: Growing demand for patented flavour to boost market growth.

Rum Market Size Value in Germany, 2021 Discover more data with ReportLinker!

Global rum market size is expected at $21,915.4 million by 2032 at a growth rate of 4.4%.

Global Dark Rum market size 2025 was XX Million. Dark Rum Industry compound annual growth rate (CAGR) will be XX% from 2025 till 2033.