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Rum Market size to grow by 73.66 Mn L | Driven by growing demand for premium varieties of rum | Technavio – PR Newswire

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NEW YORK, June 1, 2022 /PRNewswire/ — The "Rum Market by Product, Distribution Channel, and Geography – Forecast and Analysis 2021-2025" report has been added to Technavio’s offering. According to the report, the market will observe an incremental growth of 73.66 million liters between 2020 and 2025, expanding at a CAGR of 1.31% during the forecast period. The market growth will be significant in APAC over the forecast period. Factors such as the growing GDP, developing economies, and rising per capita income are creating several growth opportunities for market players operating in the region.
Download Our Sample Report for additional insights into the market size, current market scenario, and growth opportunities across regions.
Vendor Landscape
The global rum market is fragmented. The market is characterized by growing competition, owing to the presence of multiple established vendors that offer a wide range of products. The rising demand for rum is encouraging vendors to differentiate their products in terms of design and multifunctionality, which is further intensifying the competition in the market.
Technavio identifies Asahi Group Holdings Ltd., Bacardi Ltd., Constellation Brands Inc., Davide Campari Milano Spa, Demerara Distillers Ltd., Diageo Plc, LT Group Inc., Pernod Ricard SA, Suntory Holdings Ltd., and William Grant and Sons Ltd. as some of the major market participants. Although the growing demand for premium varieties of rum, growing online sales of rum, and increasing number of flavored rum launches will offer immense growth opportunities, growing health concerns among consumers, increasing number of campaigns against alcohol consumption, and stringent regulations and heavy taxation will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
Get highlights on the vendor landscape. View Our Sample Report
Rum Market 2021-2025: Segmentation
Rum Market is segmented as below:
The market growth in the gold rum and dark rum segment will be significant during the forecast period. The segment is driven by rise in the number of product launches and the growing demand for uniquely flavored rum cocktails.
The on-trade segment will have the largest share of the market. The growing expansion of bars, pubs, and restaurants has been crucial in driving the growth of the segment.
About 53% of the market growth will originate from APAC during the forecast period. The increasing disposable income of consumers is one of the major factors driving the growth of the regional market.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our rum market report covers the following areas:
Rum Market 2021-2025: Vendor Analysis
We provide a detailed analysis of around 25 vendors operating in the rum market. Backed with competitive intelligence and benchmarking, our research report on the rum market is designed to provide entry support, customer profile, and M&As as well as go-to-market strategy support.
Rum Market 2021-2025: Key Highlights
Related Reports:
Rum Market Scope
Report Coverage
Details
Page number
120
Base year
2020
Forecast period
2021-2025
Growth momentum & CAGR
Accelerate at a CAGR of 1.31%
Market growth 2021-2025
73.66 Million L
Market structure
Fragmented
YoY growth (%)
0.67
Regional analysis
APAC, North America, Europe, South America, MEA, APAC, North America, Europe, South America, and MEA
Performing market contribution
APAC at 53%
Key consumer countries
India, US, The Philippines, UK, and France
Competitive landscape
Leading companies, competitive strategies, consumer engagement scope
Companies profiled
Asahi Group Holdings Ltd., Bacardi Ltd., Constellation Brands Inc., Davide Campari Milano Spa, Demerara Distillers Ltd., Diageo Plc, LT Group Inc., Pernod Ricard SA, Suntory Holdings Ltd., and William Grant and Sons Ltd.
Market Dynamics
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for the forecast period.
Customization purview
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Table Of Contents :
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Product by Volume
6 Market Segmentation by Distribution channel by Volume
7 Customer landscape
8 Geographic Segmentation by Volume
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
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