The
Global Craft Rum Market size is expected to
reach USD 1.70 billion by 2028 and register a CAGR of 5.5% over the forecast
period, according to the latest report by Reports and Data. Global market
revenue growth can be primarily attributed to rapid demand for craft liquor
such as craft rum among younger consumers, rising number of craft distilleries
worldwide, and resilient pub and discotheque culture in countries across the
globe. The rising endorsements of craft spirits and luxury alcoholic beverages
on social media platforms, increasing availability of craft rum at bars and
pubs, increasing consumption of packaged alcoholic beverages at parties, raves,
and social gatherings, and changing lifestyle and tastes of millennial
consumers are some other key factors expected to continue to support revenue
growth of the global craft rum market going ahead. Rum is a strong-tasting,
sweetened distilled alcoholic beverage available widely in various types
including dark rum, light rum, gold rum, black rum, white rum, and vintage rum.
Craft rum is a unique modification of commercial rum that offers a twist to the
authentic flavor of rum. It is made with handpicked ingredients and unique
flavor combinations, with spiced rum being the most popular type of craft rum
infused with ingredients such as cinnamon, ginger, vanilla, pepper, clove,
nutmeg, rosemary, coconut, and various tropical fruits.
Craft
rum manufacturers around the world have been making product innovations using
ingredients and flavors like buttery caramel, smoky licorice, vanilla, and
sugary syrups to enhance taste. Rising demand for premium alcoholic beverages,
including craft rum cocktails, increasing awareness about potential health
benefits associated with consumption of rum, and rising purchasing power of
consumers are factors expected to further bolster global market growth.
However, various side-effects associated with excessive consumption of rum such
as indigestion, diarrhea, and vomiting are factors expected to impact market
growth to some extent.
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Competitive
Landscape:
The research
report offers details about leading companies in the global Craft Rum market
along with global position, financial standing, license agreement, products and
services portfolio and revenue contribution of each market player. Key players
in the market are focusing on adopting various strategies such as mergers and
acquisition, business expansion plans, new product launches, partnerships,
collaborations, joint ventures to enhance their product base and gain robust
footing in the market.
Some of the Leading Market Players Are Listed Below:
· Wicked
Dolphin Rum,
· Drum
Circle Distilling,
· Drum
& Black,
· Burning
Barn,
· Bacardi
Limited,
· Charles
Merser & Co.,
· Domaines
Ellam,
· Arizona
Craft Beverage,
· Rockstar
Spirits Ltd.,
· Lyon
Distilling Company,
· Copalli.
Get more Information about this Report: https://www.reportsanddata.com/report-detail/craft-rum-market
Market Segmentation:
Craft Rum Market Segmentation based on Product Type:
- Spiced Rum
- White Rum
- Coconut Rum
- Cranberry Rum
- Coffee Rum
- Others
(Orange Rum, Vanilla Rum, etc.)
Craft Rum Market Segmentation based on Price Range:
- Low
- Medium
- High
Craft Rum Market Segmentation based on Distribution Channel:
·
Hotels
& Restaurants
·
Bars
& Pubs
·
Cafes
·
Liquor
Shops
·
Retail
Stores
·
Online
Channels
·
Others
Craft Rum Market Segmentation based on Regions:
·
North
America (U.S., Canada, Mexico)
·
Europe
(Germany, U.K., France, Italy, Spain, Benelux, Rest of Europe)
·
Asia
Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
·
Latin
America (Brazil, Rest of Latin America)
·
Middle
East & Africa (Saudi Arabia, UAE, South Africa, Rest of Middle East &
Africa)
Key
Features of the global Craft Rum Market:
·
The
report offers detailed estimations at the regional level with manufacturers,
consumption, sales and import/export dynamics.
·
The
report provides accurate details related of the manufacturers/vendors in the
market, company overview, pricing analysis, financial standing, product
portfolio, and gross profit of leading companies.
·
Company
profiling with prevalent expansion strategies, revenue generation, and recent
developments.
·
Optimum
strategic initiatives for new players in the market.
·
Manufacturing
processes, suppliers, cost, rates of production and consumption, transport mode
and cost structuring, and value chain analysis.
·
The
study also includes supply chain trends, including elaborate descriptions of
the latest technological development
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