China Rum Market Size & Outlook, 2022-2030
China rum market, 2018-2030 (US$B)
Related Markets
China rum market highlights
- The China rum market generated a revenue of USD 0.6 billion in 2022 and is expected to reach USD 1.0 billion by 2030.
- The China market is expected to grow at a CAGR of 5.7% from 2023 to 2030.
- In terms of segment, on-trade was the largest revenue generating distribution in 2022.
- On-trade is the most lucrative distribution segment registering the fastest growth during the forecast period.
Rum market data book summary
| Market revenue in 2022 | USD 0.6 billion |
| Market revenue in 2030 | USD 1.0 billion |
| Growth rate | 5.7% (CAGR from 2022 to 2030) |
| Largest segment | On-trade |
| Fastest growing segment | On-trade |
| Historical data | 2018 - 2021 |
| Base year | 2022 |
| Forecast period | 2023 - 2030 |
| Quantitative units | Revenue in USD billion |
| Market segmentation | On-trade, Off-trade |
| Key market players worldwide | Davide Campari-Milano NV Az nom Post Frazionamento, Diageo PLC, LT Group Inc, Pernod Ricard SA, Suntory Beverage & Food Ltd |
Other key industry trends
- In terms of revenue, China accounted for 7.5% of the global rum market in 2022.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, India rum market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 1.0 billion by 2030.
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Rum Market Scope
Rum Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
China rum market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to rum market will help companies and investors design strategic landscapes.
On-trade was the largest segment with a revenue share of 50% in 2022. Horizon Databook has segmented the China rum market based on on-trade, off-trade covering the revenue growth of each sub-segment from 2018 to 2030.
In recent years, China has experienced a remarkable surge in the demand for premium rum, particularly among its younger generation of consumers. One of the notable shifts has been the changing perception of rum among Chinese consumers.
Traditionally, rum was seen as a cheap mixer, but it has evolved into a premium and sought-after spirit. The rum market in China is experiencing notable growth, driven by several key factors.
The expansion of gastro lounges, cocktail bars, western-style bars, and the prevalence of international hotels in major cities have played a significant role.
Reasons to subscribe to China rum market databook:
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Target buyers of China rum market databook
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Our clientele includes a mix of rum market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the China rum market , including forecasts for subscribers. This country databook contains high-level insights into China rum market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Partial client list
China rum market size, by distribution, 2018-2030 (US$B)
China Rum Market Outlook Share, 2022 & 2030 (US$B)
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