Craft Rum Market

Market Overview 2024-2032:

The global craft rum market size is expected to exhibit a growth rate (CAGR) of 4.69% during 2024-2032.

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.

Key Market Segmentation:

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 2024-2032. Our report has categorized the market based on age and distribution channel.

Breakup by Age:

• Under 10 Years
• 10 to 15 Years
• Above 15 Years
   

Breakup by Distribution Channel:

• On-trade
• Off-trade
   

Breakup by Region:

• North America
  • United States
  • Canada
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Competitive Landscape:

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.

Report Coverage:

Key Questions Answered in This Report:

• How has the global craft rum market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the global craft rum market?
• What are the key regional markets?
• What is the breakup of the market based on the age?
• What is the breakup of the market based on the distribution channel?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the global craft rum market and who are the key players?
• What is the degree of competition in the industry?