Latin America Rum Market Size & Outlook, 2022-2030
Latin America rum market, 2018-2030 (US$B)
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Latin America rum market highlights
- The Latin America rum market generated a revenue of USD 1.4 billion in 2022.
- The market is expected to grow at a CAGR of 5.3% 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.
- Country-wise, Argentina is expected to register the highest CAGR from 2023 to 2030.
Latin America data book summary
| Market revenue in 2022 | USD 1.4 billion |
| Market revenue in 2030 | USD 2.1 billion |
| Growth rate | 5.3% (CAGR from 2022 to 2030) |
| Largest segment | On-trade |
| Fastest growing segment | On-trade |
| Historical data covered | 2018 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 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, Latin America region accounted for 16.8% of the global rum market in 2022.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- North America is the fastest growing regional market and is projected to reach USD 3.2 billion by 2030.
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Rum Market Scope
Rum Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Latin America 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 Latin America rum market based on on-trade, off-trade covering the revenue growth of each sub-segment from 2018 to 2030.
The primary driver is the rich history and cultural significance of rum in the region. Rum has deep roots in the Caribbean and Latin American countries, where sugarcane cultivation and distillation techniques have been passed down through generations.
This cultural connection fuels a strong demand for rum, both domestically and internationally, as consumers seek authentic experiences and products with historical significance. Furthermore, the global trend towards premiumization has significantly impacted the Central and South American rum market.
Consumers are increasingly willing to pay a premium for high-quality, aged rums, which are often produced in the region. This has led to the emergence of artisanal and craft distilleries that focus on producing top-tier rum varieties, showcasing the diversity of flavors that can be achieved through various aging and blending techniques.
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Our clientele includes a mix of rum market companies, investment firms, advisory firms & academic institutions.
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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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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America rum market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America rum market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America rum market size, by country, 2018-2030 (US$B)
Latin America Rum Market Outlook Share, 2022 & 2030 (US$B)
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