Craft Rum Market Size, Share & Trends Analysis Report By Distribution Channel (On-trade, Off-trade), By Region (North America, Europe, APAC, Central & South America, MEA), And Segment Forecasts, 2020 - 2027
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Craft Rum Market Growth & Trends
The global craft rum market size is expected to reach USD 1.60 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.2% from 2020 to 2027. The growing demand for authentic alcoholic beverages among the younger generation drives the demand for craft rum and other spirits. These drinks have a smooth taste, authentic flavor, and high-end quality. These attributes of the product have been attracting consumers seeking to explore new tastes and drinking experiences. Furthermore, social media and magazines are influencing consumers to opt for these premium spirits. However, the high cost of production may hinder the growth of the industry.
Europe dominated the market in 2019 with more than 35.0% share of the total revenue. The rising number of manufacturers in the European countries, including the U.K. and Germany, has been boosting the regional growth. Asia Pacific is expected to witness significant growth in the forecast period in light of the growing cocktail culture trend, increasing purchasing power, and rapid urbanization in the countries, including India and the Philippines.
In June 2020, Matugga Distillers Limited launched a new collection, The Liv Rum, which includes two white rums, a spiced rum, and two flavored drinks. The company has handcrafted the entire process and used natural and seasonal raw materials. The two flavors available include raspberry & hibiscus, and honey & lavender. Similarly, in August 2019, Rockstar Spirits Ltd. introduced two new flavors: cherry and grapefruit. These innovative flavored products are expected to attract more consumers.
Over the past few years, the craft rum manufacturing companies have invested in the promotion of their beverages by emphasizing their country of origin (as countries such as Barbados, The Philippines, Guyana, Cuba, and Jamaica are known for their high-quality rums), age, and organic certificates. According to the Bacardi 2020 Cocktail Trends Report, consumers seek quality drinks with an interesting story, craft credentials, and origin.
Craft Rum Market Report Highlights
Craft Rum Market Growth & Trends
The global craft rum market size is expected to reach USD 1.60 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.2% from 2020 to 2027. The growing demand for authentic alcoholic beverages among the younger generation drives the demand for craft rum and other spirits. These drinks have a smooth taste, authentic flavor, and high-end quality. These attributes of the product have been attracting consumers seeking to explore new tastes and drinking experiences. Furthermore, social media and magazines are influencing consumers to opt for these premium spirits. However, the high cost of production may hinder the growth of the industry.
Europe dominated the market in 2019 with more than 35.0% share of the total revenue. The rising number of manufacturers in the European countries, including the U.K. and Germany, has been boosting the regional growth. Asia Pacific is expected to witness significant growth in the forecast period in light of the growing cocktail culture trend, increasing purchasing power, and rapid urbanization in the countries, including India and the Philippines.
In June 2020, Matugga Distillers Limited launched a new collection, The Liv Rum, which includes two white rums, a spiced rum, and two flavored drinks. The company has handcrafted the entire process and used natural and seasonal raw materials. The two flavors available include raspberry & hibiscus, and honey & lavender. Similarly, in August 2019, Rockstar Spirits Ltd. introduced two new flavors: cherry and grapefruit. These innovative flavored products are expected to attract more consumers.
Over the past few years, the craft rum manufacturing companies have invested in the promotion of their beverages by emphasizing their country of origin (as countries such as Barbados, The Philippines, Guyana, Cuba, and Jamaica are known for their high-quality rums), age, and organic certificates. According to the Bacardi 2020 Cocktail Trends Report, consumers seek quality drinks with an interesting story, craft credentials, and origin.
Craft Rum Market Report Highlights
- Asia Pacific is expected to register the fastest CAGR of 5.5% from 2020 to 2027 owing to the growing trend of cocktail culture in the region
- The on-trade distribution channel segment dominated the market by accounting for over 60.0% share of the global revenue in 2019 as a large number of consumers prefer to drink at restaurants, bars, and pubs
- Product innovation is expected to remain one of the key success factors among the industry participants.
CHAPTER 1. METHODOLOGY AND SCOPE
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Purchased Database
1.3.2. GVR’s Internal Database
1.3.3. Secondary Sources & Third-Party Perspectives
1.3.4. Primary Research
1.4. Information Analysis
1.4.1. Data Analysis Models
1.5. Market Formulation & Data Visualization
1.6. Data Validation & Publishing
CHAPTER 2. EXECUTIVE SUMMARY
2.1. Market Outlook
2.2. Product Outlook
2.3. Distribution Channel Outlook
2.4. Competitive Insights
CHAPTER 3. CRAFT RUM MARKET VARIABLES, TRENDS & SCOPE
3.1. Market Introduction
3.2. Penetration & Growth Prospect Mapping
3.3. Industry Value Chain Analysis
3.3.1. Sales/Retail Channel Analysis
3.3.2. Profit Margin Analysis
3.4. Market Dynamics
3.4.1. Market Driver Analysis
3.4.2. Market Restraint Analysis
3.4.3. Industry Challenges
3.4.4. Industry Opportunities
3.5. Business Environment Analysis
3.5.1. Industry Analysis - Porter’s
3.5.1.1. Supplier Power
3.5.1.2. Buyer Power
3.5.1.3. Substitution Threat
3.5.1.4. Threat from New Entrant
3.5.1.5. Competitive Rivalry
3.6. Roadmap of Craft Rum Market
3.7. Market Entry Strategies
3.8. Impact of COVID-19
CHAPTER 4. CONSUMER BEHAVIOR ANALYSIS
4.1. Consumer Trends and Preferences
4.2. Factors Affecting Buying Decision
4.3. Consumer Product Adoption
4.4. Observations & Recommendations
CHAPTER 5. CRAFT RUM MARKET: DISTRIBUTION CHANNEL ESTIMATES & TREND ANALYSIS
5.1. Distribution Channel Movement Analysis & Market Share, 2019 & 2027
5.2. On-trade
5.2.1. Market estimates and forecast, 2016 - 2027 (USD Million)
5.3. Off-trade
5.3.1. Market estimates and forecast, 2016 - 2027 (USD Million)
CHAPTER 6. CRAFT RUM MARKET: REGIONAL ESTIMATES & TREND ANALYSIS
6.1. Regional Movement Analysis & Market Share, 2019 & 2027
6.2. North America
6.2.1. Market estimates and forecast, 2016 - 2027 (USD Million)
6.2.2. Market estimates and forecast, by distribution channel, 2016 - 2027 (USD Million)
6.2.3. U.S.
6.2.3.1. Market estimates and forecast, 2016 - 2027 (USD Million)
6.2.3.2. Market estimates and forecast, by distribution channel, 2016 - 2027 (USD Million)
6.3. Europe
6.3.1. Market estimates and forecast, 2016 - 2027 (USD Million)
6.3.2. Market estimates and forecast, by distribution channel, 2016 - 2027 (USD Million)
6.3.3. Germany
6.3.3.1. Market estimates and forecast, 2016 - 2027 (USD Million)
6.3.3.2. Market estimates and forecast, by distribution channel, 2016 - 2027 (USD Million)
6.3.4. U.K.
6.3.4.1. Market estimates and forecast, 2016 - 2027 (USD Million)
6.3.4.2. Market estimates and forecast, by distribution channel, 2016 - 2027 (USD Million)
6.3.5. France
6.3.5.1. Market estimates and forecast, 2016 - 2027 (USD Million)
6.3.5.2. Market estimates and forecast, by distribution channel, 2016 - 2027 (USD Million)
6.4. Asia Pacific
6.4.1. Market estimates and forecast, 2016 - 2027 (USD Million)
6.4.2. Market estimates and forecast, by distribution channel, 2016 - 2027 (USD Million)
6.4.3. India
6.4.3.1. Market estimates and forecast, 2016 - 2027 (USD Million)
6.4.3.2. Market estimates and forecast, by distribution channel, 2016 - 2027 (USD Million)
6.4.4. The Philippines
6.4.4.1. Market estimates and forecast, 2016 - 2027 (USD Million)
6.4.4.2. Market estimates and forecast, by distribution channel, 2016 - 2027 (USD Million)
6.5. Central & South America
6.5.1. Market estimates and forecast, 2016 - 2027 (USD Million)
6.5.2. Market estimates and forecast, by distribution channel, 2016 - 2027 (USD Million)
6.5.3. Brazil
6.5.3.1. Market estimates and forecast, 2016 - 2027 (USD Million)
6.5.3.2. Market estimates and forecast, by distribution channel, 2016 - 2027 (USD Million)
6.6. Middle East & Africa
6.6.1. Market estimates and forecast, 2016 - 2027 (USD Million)
6.6.2. Market estimates and forecast, by distribution channel, 2016 - 2027 (USD Million)
CHAPTER 7. COMPETITIVE ANALYSIS
7.1. Key global players, recent developments & their impact on the industry
7.2. Key Company/Competition Categorization (Key innovators, Market leaders, Emerging players)
7.3. Vendor Landscape
7.3.1. Key company market share analysis, 2019
CHAPTER 8. COMPANY PROFILES
8.1. Bacardi Limited
8.1.1. Company Overview
8.1.2. Financial Performance
8.1.3. Product Benchmarking
8.1.4. Strategic Initiatives
8.2. Suntory Holdings Limited
8.2.1. Company Overview
8.2.2. Financial Performance
8.2.3. Product Benchmarking
8.2.4. Strategic Initiatives
8.3. Diageo
8.3.1. Company Overview
8.3.2. Financial Performance
8.3.3. Product Benchmarking
8.3.4. Strategic Initiatives
8.4. Maine Craft Distilling, LLC
8.4.1. Company Overview
8.4.2. Financial Performance
8.4.3. Product Benchmarking
8.4.4. Strategic Initiatives
8.5. Charles Merser & Co.
8.5.1. Company Overview
8.5.2. Financial Performance
8.5.3. Product Benchmarking
8.5.4. Strategic Initiatives
8.6. Drum & Black Rum Company
8.6.1. Company Overview
8.6.2. Financial Performance
8.6.3. Product Benchmarking
8.6.4. Strategic Initiatives
8.7. Wicked Dolphin Rum
8.7.1. Company Overview
8.7.2. Financial Performance
8.7.3. Product Benchmarking
8.7.4. Strategic Initiatives
8.8. Domaines Ellam and Arizona Craft Beverage
8.8.1. Company Overview
8.8.2. Financial Performance
8.8.3. Product Benchmarking
8.8.4. Strategic Initiatives
8.9. Rockstar Spirits Ltd.
8.9.1. Company Overview
8.9.2. Financial Performance
8.9.3. Product Benchmarking
8.9.4. Strategic Initiatives
8.10. Belize Spirits Marketing, Inc.
8.10.1. Company Overview
8.10.2. Financial Performance
8.10.3. Product Benchmarking
8.10.4. Strategic Initiatives
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Purchased Database
1.3.2. GVR’s Internal Database
1.3.3. Secondary Sources & Third-Party Perspectives
1.3.4. Primary Research
1.4. Information Analysis
1.4.1. Data Analysis Models
1.5. Market Formulation & Data Visualization
1.6. Data Validation & Publishing
CHAPTER 2. EXECUTIVE SUMMARY
2.1. Market Outlook
2.2. Product Outlook
2.3. Distribution Channel Outlook
2.4. Competitive Insights
CHAPTER 3. CRAFT RUM MARKET VARIABLES, TRENDS & SCOPE
3.1. Market Introduction
3.2. Penetration & Growth Prospect Mapping
3.3. Industry Value Chain Analysis
3.3.1. Sales/Retail Channel Analysis
3.3.2. Profit Margin Analysis
3.4. Market Dynamics
3.4.1. Market Driver Analysis
3.4.2. Market Restraint Analysis
3.4.3. Industry Challenges
3.4.4. Industry Opportunities
3.5. Business Environment Analysis
3.5.1. Industry Analysis - Porter’s
3.5.1.1. Supplier Power
3.5.1.2. Buyer Power
3.5.1.3. Substitution Threat
3.5.1.4. Threat from New Entrant
3.5.1.5. Competitive Rivalry
3.6. Roadmap of Craft Rum Market
3.7. Market Entry Strategies
3.8. Impact of COVID-19
CHAPTER 4. CONSUMER BEHAVIOR ANALYSIS
4.1. Consumer Trends and Preferences
4.2. Factors Affecting Buying Decision
4.3. Consumer Product Adoption
4.4. Observations & Recommendations
CHAPTER 5. CRAFT RUM MARKET: DISTRIBUTION CHANNEL ESTIMATES & TREND ANALYSIS
5.1. Distribution Channel Movement Analysis & Market Share, 2019 & 2027
5.2. On-trade
5.2.1. Market estimates and forecast, 2016 - 2027 (USD Million)
5.3. Off-trade
5.3.1. Market estimates and forecast, 2016 - 2027 (USD Million)
CHAPTER 6. CRAFT RUM MARKET: REGIONAL ESTIMATES & TREND ANALYSIS
6.1. Regional Movement Analysis & Market Share, 2019 & 2027
6.2. North America
6.2.1. Market estimates and forecast, 2016 - 2027 (USD Million)
6.2.2. Market estimates and forecast, by distribution channel, 2016 - 2027 (USD Million)
6.2.3. U.S.
6.2.3.1. Market estimates and forecast, 2016 - 2027 (USD Million)
6.2.3.2. Market estimates and forecast, by distribution channel, 2016 - 2027 (USD Million)
6.3. Europe
6.3.1. Market estimates and forecast, 2016 - 2027 (USD Million)
6.3.2. Market estimates and forecast, by distribution channel, 2016 - 2027 (USD Million)
6.3.3. Germany
6.3.3.1. Market estimates and forecast, 2016 - 2027 (USD Million)
6.3.3.2. Market estimates and forecast, by distribution channel, 2016 - 2027 (USD Million)
6.3.4. U.K.
6.3.4.1. Market estimates and forecast, 2016 - 2027 (USD Million)
6.3.4.2. Market estimates and forecast, by distribution channel, 2016 - 2027 (USD Million)
6.3.5. France
6.3.5.1. Market estimates and forecast, 2016 - 2027 (USD Million)
6.3.5.2. Market estimates and forecast, by distribution channel, 2016 - 2027 (USD Million)
6.4. Asia Pacific
6.4.1. Market estimates and forecast, 2016 - 2027 (USD Million)
6.4.2. Market estimates and forecast, by distribution channel, 2016 - 2027 (USD Million)
6.4.3. India
6.4.3.1. Market estimates and forecast, 2016 - 2027 (USD Million)
6.4.3.2. Market estimates and forecast, by distribution channel, 2016 - 2027 (USD Million)
6.4.4. The Philippines
6.4.4.1. Market estimates and forecast, 2016 - 2027 (USD Million)
6.4.4.2. Market estimates and forecast, by distribution channel, 2016 - 2027 (USD Million)
6.5. Central & South America
6.5.1. Market estimates and forecast, 2016 - 2027 (USD Million)
6.5.2. Market estimates and forecast, by distribution channel, 2016 - 2027 (USD Million)
6.5.3. Brazil
6.5.3.1. Market estimates and forecast, 2016 - 2027 (USD Million)
6.5.3.2. Market estimates and forecast, by distribution channel, 2016 - 2027 (USD Million)
6.6. Middle East & Africa
6.6.1. Market estimates and forecast, 2016 - 2027 (USD Million)
6.6.2. Market estimates and forecast, by distribution channel, 2016 - 2027 (USD Million)
CHAPTER 7. COMPETITIVE ANALYSIS
7.1. Key global players, recent developments & their impact on the industry
7.2. Key Company/Competition Categorization (Key innovators, Market leaders, Emerging players)
7.3. Vendor Landscape
7.3.1. Key company market share analysis, 2019
CHAPTER 8. COMPANY PROFILES
8.1. Bacardi Limited
8.1.1. Company Overview
8.1.2. Financial Performance
8.1.3. Product Benchmarking
8.1.4. Strategic Initiatives
8.2. Suntory Holdings Limited
8.2.1. Company Overview
8.2.2. Financial Performance
8.2.3. Product Benchmarking
8.2.4. Strategic Initiatives
8.3. Diageo
8.3.1. Company Overview
8.3.2. Financial Performance
8.3.3. Product Benchmarking
8.3.4. Strategic Initiatives
8.4. Maine Craft Distilling, LLC
8.4.1. Company Overview
8.4.2. Financial Performance
8.4.3. Product Benchmarking
8.4.4. Strategic Initiatives
8.5. Charles Merser & Co.
8.5.1. Company Overview
8.5.2. Financial Performance
8.5.3. Product Benchmarking
8.5.4. Strategic Initiatives
8.6. Drum & Black Rum Company
8.6.1. Company Overview
8.6.2. Financial Performance
8.6.3. Product Benchmarking
8.6.4. Strategic Initiatives
8.7. Wicked Dolphin Rum
8.7.1. Company Overview
8.7.2. Financial Performance
8.7.3. Product Benchmarking
8.7.4. Strategic Initiatives
8.8. Domaines Ellam and Arizona Craft Beverage
8.8.1. Company Overview
8.8.2. Financial Performance
8.8.3. Product Benchmarking
8.8.4. Strategic Initiatives
8.9. Rockstar Spirits Ltd.
8.9.1. Company Overview
8.9.2. Financial Performance
8.9.3. Product Benchmarking
8.9.4. Strategic Initiatives
8.10. Belize Spirits Marketing, Inc.
8.10.1. Company Overview
8.10.2. Financial Performance
8.10.3. Product Benchmarking
8.10.4. Strategic Initiatives
LIST OF TABLES
1. Craft rum market - Key market driver analysis
2. Craft rum market - Key market restraint analysis
3. Global craft rum market estimates and forecast through on-trade, 2016 - 2027 (USD Million)
4. Global craft rum market estimates and forecast through off-trade, 2016 - 2027 (USD Million)
5. North America craft rum market estimates and forecast, 2016 - 2027 (USD Million)
6. North America craft rum market revenue estimates and forecast by distribution channel, 2016 - 2027 (USD Million)
7. U.S. craft rum market estimates and forecast, 2016 - 2027 (USD Million)
8. U.S. craft rum market revenue estimates and forecast by distribution channel, 2016 - 2027 (USD Million)
9. Europe craft rum market estimates and forecast, 2016 - 2027 (USD Million)
10. Europe craft rum market revenue estimates and forecast by distribution channel, 2016 - 2027 (USD Million)
11. Germany craft rum market estimates and forecast, 2016 - 2027 (USD Million)
12. Germany craft rum market revenue estimates and forecast by distribution channel, 2016 - 2027 (USD Million)
13. U.K. craft rum market estimates and forecast, 2016 - 2027 (USD Million)
14. U.K. craft rum market revenue estimates and forecast by distribution channel, 2016 - 2027 (USD Million)
15. France craft rum market estimates and forecast, 2016 - 2027 (USD Million)
16. France craft rum market revenue estimates and forecast by distribution channel, 2016 - 2027 (USD Million)
17. Asia Pacific craft rum market estimates and forecast, 2016 - 2027 (USD Million)
18. Asia Pacific craft rum market revenue estimates and forecast by distribution channel, 2016 - 2027 (USD Million)
19. India craft rum market estimates and forecast, 2016 - 2027 (USD Million)
20. India craft rum market revenue estimates and forecast by distribution channel, 2016 - 2027 (USD Million)
21. Philippines craft rum market estimates and forecast, 2016 - 2027 (USD Million)
22. Philippines craft rum market revenue estimates and forecast by distribution channel, 2016 - 2027 (USD Million)
23. Central & South America craft rum market estimates and forecast, 2016 - 2027 (USD Million)
24. Central & South America craft rum market revenue estimates and forecast by distribution channel, 2016 - 2027 (USD Million)
25. Brazil craft rum market estimates and forecast, 2016 - 2027 (USD Million)
26. Brazil craft rum market revenue estimates and forecast by distribution channel, 2016 - 2027 (USD Million)
27. Middle East & Africa craft rum market estimates and forecast, 2016 - 2027 (USD Million)
28. Middle East & Africa craft rum market revenue estimates and forecast by distribution channel, 2016 - 2027 (USD Million)
29. Vendor landscape
1. Craft rum market - Key market driver analysis
2. Craft rum market - Key market restraint analysis
3. Global craft rum market estimates and forecast through on-trade, 2016 - 2027 (USD Million)
4. Global craft rum market estimates and forecast through off-trade, 2016 - 2027 (USD Million)
5. North America craft rum market estimates and forecast, 2016 - 2027 (USD Million)
6. North America craft rum market revenue estimates and forecast by distribution channel, 2016 - 2027 (USD Million)
7. U.S. craft rum market estimates and forecast, 2016 - 2027 (USD Million)
8. U.S. craft rum market revenue estimates and forecast by distribution channel, 2016 - 2027 (USD Million)
9. Europe craft rum market estimates and forecast, 2016 - 2027 (USD Million)
10. Europe craft rum market revenue estimates and forecast by distribution channel, 2016 - 2027 (USD Million)
11. Germany craft rum market estimates and forecast, 2016 - 2027 (USD Million)
12. Germany craft rum market revenue estimates and forecast by distribution channel, 2016 - 2027 (USD Million)
13. U.K. craft rum market estimates and forecast, 2016 - 2027 (USD Million)
14. U.K. craft rum market revenue estimates and forecast by distribution channel, 2016 - 2027 (USD Million)
15. France craft rum market estimates and forecast, 2016 - 2027 (USD Million)
16. France craft rum market revenue estimates and forecast by distribution channel, 2016 - 2027 (USD Million)
17. Asia Pacific craft rum market estimates and forecast, 2016 - 2027 (USD Million)
18. Asia Pacific craft rum market revenue estimates and forecast by distribution channel, 2016 - 2027 (USD Million)
19. India craft rum market estimates and forecast, 2016 - 2027 (USD Million)
20. India craft rum market revenue estimates and forecast by distribution channel, 2016 - 2027 (USD Million)
21. Philippines craft rum market estimates and forecast, 2016 - 2027 (USD Million)
22. Philippines craft rum market revenue estimates and forecast by distribution channel, 2016 - 2027 (USD Million)
23. Central & South America craft rum market estimates and forecast, 2016 - 2027 (USD Million)
24. Central & South America craft rum market revenue estimates and forecast by distribution channel, 2016 - 2027 (USD Million)
25. Brazil craft rum market estimates and forecast, 2016 - 2027 (USD Million)
26. Brazil craft rum market revenue estimates and forecast by distribution channel, 2016 - 2027 (USD Million)
27. Middle East & Africa craft rum market estimates and forecast, 2016 - 2027 (USD Million)
28. Middle East & Africa craft rum market revenue estimates and forecast by distribution channel, 2016 - 2027 (USD Million)
29. Vendor landscape
LIST OF FIGURES
1. Craft rum market snapshot
2. Craft rum market segmentation & scope
3. Craft rum market penetration & growth prospect mapping
4. Craft rum market value chain analysis
5. Craft rum market dynamics
6. Craft rum market Porter's analysis
7. Craft rum market: Distribution channel movement analysis
8. Craft rum market: Regional movement analysis
1. Craft rum market snapshot
2. Craft rum market segmentation & scope
3. Craft rum market penetration & growth prospect mapping
4. Craft rum market value chain analysis
5. Craft rum market dynamics
6. Craft rum market Porter's analysis
7. Craft rum market: Distribution channel movement analysis
8. Craft rum market: Regional movement analysis
