The global craft rum market grew at a CAGR of around 4% during 2015-2020. Craft rum is a type of an alcoholic beverage manufactured with specialized hands-on processes and customized flavors. White, gold, dark or aged, overproof, spiced and blackstrap rum are some of the commonly available craft rum. They are produced in specialized distilleries with patented or highly specific fermentation, distillation and packaging processes to control the quality, taste and experience of the alcohol. They are further processed with fermented molasses or freshly pressed sugar care juice and additional ingredients to achieve the desired flavor, color and alcohol percentage.
Significant growth in the food and beverages industry, along with an increase in the global consumption of alcoholic beverages, is one of the key factors creating a positive outlook for the market. Furthermore, the rising preference for authentic and personalized alcoholic beverages, including craft rum, among the millennial consumers, is providing a thrust to the market growth. In comparison to the commercially available rum, craft rum has a smoother taste, premium quality and authentic flavor. Additionally, the launch of craft rum in innovative flavors infused with exotic tropical extracts is acting as another growth-inducing factor. In line with this, hotels, cafes and restaurants are experimenting with dishes using craft rum to offer unique menus to the customers. Product manufacturers are also emphasizing on using natural and organic ingredients that are free from harmful fertilizers, pesticides and inorganic chemicals. Other factors, including the advent of micro-distilleries that emphasize on sustainable sourcing and alcohol manufacturing practices, along with the proliferation of the online retail channels, are anticipated to drive the market further. Looking forward, IMARC Group expects the global craft rum market to exhibit moderate growth during the next five years.
IMARC Group provides an analysis of the key trends in each sub-segment of the global craft rum market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, age and distribution channel.
Breakup by Age:
Breakup by Distribution Channel:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Bacardi Limited, Belize Spirits Marketing Inc., Charles Merser & Co., Diageo PLC, Domaines Ellam and Arizona Craft Beverage, Drum and Black Rum Company Limited, Maine Craft Distilling LLC, Rockstar Spirits Limited, Suntory Holdings Limited (Kotobuki Realty Co. Ltd.), and Wicked Dolphin Distillery.
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