North America Rum Market Size & Outlook, 2022-2030
North America rum market, 2018-2030 (US$B)
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North America rum market highlights
- The North America rum market generated a revenue of USD 2.1 billion in 2022.
- The 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.
- Country-wise, U.S. is expected to register the highest CAGR from 2023 to 2030.
North America data book summary
| Market revenue in 2022 | USD 2.1 billion |
| Market revenue in 2030 | USD 3.2 billion |
| Growth rate | 5.7% (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, North America region accounted for 25.4% 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 |
|---|
North 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 52.38% in 2022. Horizon Databook has segmented the North America rum market based on on-trade, off-trade covering the revenue growth of each sub-segment from 2018 to 2030.
The North American rum market is driven by several factors, including changing consumer preferences, the emergence of craft and premium rum brands, and the influence of cultural and culinary trends. One of the key drivers of the North American rum market is shifting consumer preferences.
As consumers seek new and unique flavor experiences, they turn to rum for its diverse range of tastes and styles. Rum's versatility as a spirit, with variations ranging from light and subtle to dark and robust, makes it appealing to a wide range of consumers.
Moreover, the increasing interest in cocktail culture and mixology has led to a resurgence in rum-based cocktails, further driving demand for different types of rum. The emergence of craft and premium rum brands is another significant market driver.
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Target buyers of North America 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 continent-level data and insights on the North America rum market , including forecasts for subscribers. This continent databook contains high-level insights into North America rum market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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North America rum market size, by country, 2018-2030 (US$B)
North America Rum Market Outlook Share, 2022 & 2030 (US$B)
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