Rum Market to Hit USD 26.59 Billion by 2032, Growing at 6.23% CAGR
Rum Market Size was valued at USD 15.94 billion in 2023. The rum industry is projected to grow from USD 16.4 Billion in 2024 to USD 26.59 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.23% during the forecast period (2024 - 2032). Millennials' preference for rum over other alcoholic beverages, as well as rising demand for premium varieties of rum are the key market drivers enhancing the market growth.
rum market is undergoing a transformative era, fueled by consumer demand for premium, authentic experiences, innovative flavor profiles, and cocktail culture. Latest research from MarketResearchFuture unveils segmented insights vital to industry stakeholders—from producers and distributors to hospitality operators—about how consumers are engaging with rum, what is propelling growth, and the obstacles ahead.
Key Companies in the rum market includes:
Diageo PLC (UK), Pernod Ricard SA (France), Beam Suntory Inc. (US), Bacardi Limited (Bermuda), Gruppo Campari (Italy), Mohan Meakin (India),
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Market Segmentation OverviewMarketResearchFuture (MRFR) segments the rum market along three dimensions:
Type:
White Rum: Light, versatile, and historically favored for mixed drinks.
Dark Rum: Aged rums with deep complexity—this category captured over 45 % of revenue in 2022
Category:
Standard: Traditional ABV levels, widely consumed.
Overproof: High‑strength expressions, often for craft cocktails or ritual consumption.
Distribution Channel:
Hypermarkets & Supermarkets, Specialty Stores, and Others—in 2022, offline channels generated over 75 % of global revenue
Geographically, the market spans North America, Europe, Asia-Pacific, and RoW—each influenced by consumer trends, economic factors, and regulatory environments .