U.S. Rum Market Size & Outlook, 2022-2030
U.S. rum market, 2018-2030 (US$B)
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U.S. rum market highlights
- The U.S. rum market generated a revenue of USD 1.5 billion in 2022 and is expected to reach USD 2.3 billion by 2030.
- The U.S. market is expected to grow at a CAGR of 5.8% 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 1.5 billion |
| Market revenue in 2030 | USD 2.3 billion |
| Growth rate | 5.8% (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, U.S. accounted for 18.2% 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 North America, U.S. rum market is projected to lead the regional market in terms of revenue in 2030.
- U.S. is the fastest growing regional market in North America and is projected to reach USD 2.3 billion by 2030.
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Rum Market Scope
Rum Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
U.S. 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 53.33% in 2022. Horizon Databook has segmented the U.S. rum market based on on-trade, off-trade covering the revenue growth of each sub-segment from 2018 to 2030.
The cocktail culture and mixology trend are key factors driving the U.S. rum market. Bartenders and consumers alike have been experimenting with rum-based cocktails, creating innovative concoctions that showcase the spirit's versatility.
Classic cocktails like the Mojito and Daiquiri, as well as contemporary creations, have contributed to the increased consumption of rum. As a result, bars and restaurants have expanded their rum selections, and consumers are increasingly purchasing rum for home mixology.
The rise of flavored and spiced rums is also contributing to the market's growth. Manufacturers are introducing new and exciting flavor profiles, appealing to a wide range of tastes. These flavored rums have found favor among younger consumers and those seeking more approachable and accessible options.
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Target buyers of U.S. 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 U.S. rum market , including forecasts for subscribers. This country databook contains high-level insights into U.S. rum market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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U.S. rum market size, by distribution, 2018-2030 (US$B)
U.S. Rum Market Outlook Share, 2022 & 2030 (US$B)
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