The Latest Rum Industry Statistics Explained
The global rum market size was valued at USD 14.8 billion in 2019.
The statistic ‘The global rum market size was valued at USD 14.8 billion in 2019’ represents the total monetary value of rum sales worldwide in that particular year. This figure indicates the significant economic impact and scale of the rum industry, highlighting the high demand and consumption of rum products across various regions. The market size value serves as a crucial metric for understanding the growth and performance of the rum industry, influencing strategic decisions by industry stakeholders, investors, and policymakers. It also reflects the potential opportunities for expansion, innovation, and investment within the global rum market.
The rum market is expected to grow at a CAGR of 2.5% from 2020 to 2027.
This statistic indicates that the rum market is projected to experience a Compound Annual Growth Rate (CAGR) of 2.5% from 2020 to 2027. A CAGR is a useful measure of growth over multiple time periods, providing a smooth representation of the growth rate. In this context, the projection suggests that the rum market is anticipated to steadily increase in size by 2.5% annually on average between 2020 and 2027. This growth rate indicates a positive trend in the market demand for rum over the specified period, reflecting potential opportunities for industry players and stakeholders to capitalize on this anticipated growth.
The retail value of the rum market in the United States was valued at $2.75 billion in 2019.
The statistic indicates that the total retail value of rum sales in the United States amounted to $2.75 billion in the year 2019. This figure represents the total revenue generated from the sale of rum products to consumers in various retail outlets across the country during that year. The high value of $2.75 billion underscores the significant market size and consumer demand for rum within the United States. This statistic can provide valuable insights to industry stakeholders, policymakers, and investors regarding the economic importance and growth potential of the rum market in the United States.
The revenue of the rum segment amounts to US$18,127m in 2021.
The statistic “The revenue of the rum segment amounts to US$18,127m in 2021” signifies that the total revenue generated by the rum industry in 2021 was $18,127 million (or $18.127 billion). This figure represents the sum of all sales and transactions related to rum products within the specified time frame, indicating the financial performance of businesses operating within this sector. The revenue value provides insight into the market size and economic significance of the rum industry, reflecting consumer demand, pricing strategies, market trends, and overall business activity within this segment.
The market is expected to grow annually by 2.57% (CAGR 2021-2025).
The statistic indicating that the market is expected to grow annually by 2.57% represents the Compound Annual Growth Rate (CAGR) forecast for the period spanning from 2021 to 2025. This figure suggests that, on average, the market is projected to increase by 2.57% each year over this specified time frame. CAGR is a useful metric for measuring the consistent annual growth rate of an investment or market, providing a smooth representation of growth over time while accounting for compounding effects. Therefore, this statistic informs stakeholders and investors about the anticipated growth trajectory of the market over the next five years, aiding in decision-making and strategic planning.
The largest rum segment is Dark Rum, which accounted for 44.7% of total rum revenue.
The statistic indicates that the Dark Rum segment holds the largest market share in terms of revenue compared to other rum segments. Specifically, 44.7% of the total revenue generated from rum sales comes from the Dark Rum segment. This suggests that Dark Rum is a popular choice among consumers and plays a significant role in driving overall revenue in the rum industry. As the leading segment, Dark Rum likely has a strong presence in the market and is a key contributor to the financial success of the rum industry as a whole.
In 2020, the global export volume of rum was just under 3.24 million 9 liter cases.
The statistic states that in 2020, the total global export volume of rum reached approximately 3.24 million 9-liter cases. This figure reflects the amount of rum that was shipped and sold internationally during that year. The volume of exports indicates the popularity and demand for rum across different markets worldwide. For industries and policymakers, this statistic is valuable for understanding trends in the rum market, assessing the impact of global trade agreements or regulations, and making informed decisions regarding production, distribution, and marketing strategies within the rum industry.
The United States is the largest market for rum with 40% of global consumption.
The statistic that the United States is the largest market for rum with 40% of global consumption indicates that a significant portion of rum sales worldwide are attributed to the US market. This suggests that the US has a strong demand for rum compared to other countries, making it a key player in the global rum industry. Factors such as consumer preferences, marketing efforts, cultural influences, and economic prosperity may all contribute to the high consumption of rum in the US. Additionally, this statistic highlights the importance of the US market for rum producers and the potential for further market growth and opportunities within the US.
Sales of super-premium rum grew by 27% in 2020 in the United States.
The statistic “Sales of super-premium rum grew by 27% in 2020 in the United States” indicates a significant increase in the sales of high-quality rum in the U.S. market throughout the year 2020. The growth of 27% suggests a strong consumer demand for premium rum products, possibly driven by factors such as changing consumer preferences, increased spending on luxury items, or targeted marketing efforts by rum producers. This growth rate outpacing other categories within the spirits industry signifies a particular interest or trend towards super-premium rum among American consumers during the specified time period.
Bacardi is the most popular rum brand worldwide, with 19.56 million 9 liter cases sold in 2020.
The statistic that Bacardi is the most popular rum brand worldwide, with 19.56 million 9-liter cases sold in 2020, highlights the significant market presence and consumer preference for Bacardi rum globally. This figure demonstrates the widespread popularity and demand for Bacardi products, indicating that it holds a strong position in the rum industry. The high sales volume of 19.56 million 9-liter cases emphasizes the brand’s success in attracting and retaining customers around the world, solidifying its reputation as a leading player in the spirits market. This statistic suggests that Bacardi’s marketing strategies, product quality, and brand recognition have effectively resonated with consumers, contributing to its success in terms of sales and market share.
Among types of rum, white/light rum accounted for around 38% of the market revenue in 2019.
In 2019, white/light rum contributed approximately 38% of the total market revenue among various types of rum. This statistic indicates that white/light rum held a significant share of the market compared to other rum varieties such as dark or spiced rum. The percentage highlights the popular consumer preference for white/light rum over other options within the rum category. Analyzing market shares among different types of rum can provide insights into consumer behavior and preferences, helping producers and marketers make informed decisions to meet the demands of the market effectively.
In 2019, the U.S. imported 24.7 million proof gallons of rum from Jamaica.
The statistic “In 2019, the U.S. imported 24.7 million proof gallons of rum from Jamaica” indicates the volume of rum that was brought into the United States from Jamaica in that particular year. A proof gallon is a unit of measurement commonly used in the alcohol industry to quantify the volume of spirits, with one proof gallon equivalent to one gallon of liquid that is 50% alcohol by volume. The significant amount of rum imported suggests a strong demand for Jamaican rum in the U.S. market, highlighting the popularity of this specific type of spirit among American consumers and the importance of trade between the two countries in the alcohol industry.
U.S. rum consumption stood at 25.5 million 9-liter cases in 2019.
The statistic that U.S. rum consumption stood at 25.5 million 9-liter cases in 2019 indicates the total volume of rum consumed in the United States during that year. A 9-liter case typically contains 12 bottles of 750ml each, which is a standard size for liquor. This statistic is important for understanding the demand for rum in the U.S. market and can provide insights into consumer preferences, trends, and the overall health of the rum industry. It can also be used by producers, distributors, and policymakers to make informed decisions related to marketing, production, and regulations within the rum industry.
Total rum production volume in 2019 was 59.84 thousand kiloliters in Japan.
The statistic indicates that the total rum production volume in Japan for the year 2019 amounted to 59.84 thousand kiloliters. This figure represents the cumulative volume of rum that was produced within that year and reflects the overall scale of the rum industry in Japan. It is a measure of the quantity of rum that was manufactured by distilleries and reflects the domestic production capacity for this specific alcoholic beverage. The statistic provides insight into the market demand and consumption patterns for rum within Japan, as well as the country’s potential impact on the global rum industry based on its production volume.
From 2017 -2021, the largest growth of rum exports was in Guatemala with exports growing by +20.5%.
The statistic indicates that between the years 2017 and 2021, Guatemala experienced the largest percentage increase in rum exports compared to other countries. Specifically, Guatemala’s rum exports grew by +20.5% during this time period. This significant growth suggests that the demand for Guatemalan rum in international markets has been increasing steadily over the past few years. Factors contributing to this growth could include improvements in production efficiency, marketing strategies, or shifts in consumer preferences towards Guatemalan rum products. Overall, this statistic reflects a positive trend for the Guatemalan rum industry, potentially indicating a strong competitive advantage in the global rum market.
Roughly 80% of the world’s rum sources originate from Puerto Rico.
This statistic states that approximately 80% of all the rum produced in the world comes from Puerto Rico, indicating that Puerto Rico is a major player in the global rum industry. This could be attributed to various factors such as the favorable climate conditions for sugarcane cultivation, the historical ties of Puerto Rico with rum production, and the presence of established rum distilleries in the region. The high concentration of rum production in Puerto Rico suggests that the country has a significant impact on the global rum market and plays a vital role in supplying rum to consumers worldwide.
Total global rum volume sales acquired about the 142.59 million 9-litre cases in the year 2019.
The statistic indicates that a total of approximately 142.59 million 9-liter cases of rum were sold globally in the year 2019. This metric quantifies the total volume of rum sales worldwide and highlights the popularity and demand for rum as a distilled spirit. By understanding the volume of sales in terms of cases, which are standardized units of measurement, stakeholders in the rum industry, such as producers, distributors, and retailers, can gain insights into market trends, consumer preferences, and the competitive landscape. Analyzing and comparing this statistic across different regions and time periods can provide valuable information for strategic decision-making, marketing strategies, and future demand forecasting within the global rum market.
The Dominican Republic is the biggest exporter of rum globally, exporting a volume of approximately 25.9 million litres in 2019.
The statistic stating that the Dominican Republic is the largest exporter of rum globally, sending out around 25.9 million litres in 2019, highlights the country’s significant role in the international rum market. This figure indicates that the Dominican Republic has a strong presence in the rum industry and holds a competitive position in supplying rum to markets around the world. The high volume of rum exports from the country suggests a robust industry infrastructure, quality production processes, and strong demand for Dominican rum products globally. This statistic showcases the country’s expertise in rum production and its ability to meet the demands of consumers worldwide.
38.43% of rum consumption worldwide by volume was through the off-trade channel in 2019.
This statistic indicates that in 2019, 38.43% of the total volume of rum consumed globally was purchased through off-trade channels, such as retail stores, supermarkets, and online platforms as opposed to on-trade channels like bars and restaurants. This suggests that a significant portion of rum sales occurs through retail channels where consumers purchase bottles for consumption at home rather than in establishments where alcohol is served. Understanding this distribution of consumption channels can provide insights for rum producers and retailers on where to focus marketing efforts and optimize supply chain logistics to effectively reach consumers in different locations and contexts.
References
0. – https://www.www.distilledspirits.org
1. – https://www.www.winemag.com
2. – https://www.www.thedrinksbusiness.com
3. – https://www.www.statista.com
4. – https://www.www.finder.com.au
5. – https://www.spiritsfully.com
6. – https://www.www.wsta.co.uk
7. – https://www.www.globenewswire.com
8. – https://www.www.grandviewresearch.com
9. – https://www.www.mordorintelligence.com
10. – https://www.www.ttb.gov
