The North America Rum Market was valued at USD 5.63 Billion market size in 2022. The most popular kind of rum consumed in North America is usually light or white rum.
A vibrant and varied sector, the rum industry in North America has seen substantial expansion and popularity in recent years. Rum is distilled liquor with a long history in the Caribbean that is created from molasses or sugarcane byproducts. It has gained popularity across the continent. North America, consisting of the United States and Canada, has seen a surge in consumer interest in premium and craft spirits, including rum. This has resulted in an increased demand for high-quality rums that offer unique flavors, artisanal production methods, and a touch of exoticism. The increasing popularity of cocktail culture is one of the main factors boosting the rum business in North America. Rum has gained popularity among mixologists and bartenders because it can be incorporated into a variety of traditional and contemporary drinks. From classic drinks like the Mojito and Pia Colada to modern concoctions like the Rum Old Fashioned and Rum Sour, rum has established itself as a standard at bars and eateries all over the continent. North America, consisting of the United States and Canada, has seen a surge in consumer interest in premium and craft spirits, including rum. This has resulted in an increased demand for high-quality rums that offer unique flavors, artisanal production methods, and a touch of exoticism.
According to the research report, “North America Rum Market Outlook, 2028” published by Bonafide Research, the market was valued at USD 5.63 Billion market size in 2022. The most popular kind of rum consumed in North America is usually light or white rum. Light rum frequently appears in mixed beverages and cocktails because of its moderate flavor profile. Additionally, it is well-liked for producing traditional rum-based drinks like mojitos and daiquiris. The favored type of rum can, however, differ among people and geographical areas in North America due to the recent popularity of various rum flavors and styles. In North America, conventional rum is generally more commonly used than organic rum. Conventional rum refers to rum that is produced using traditional methods and ingredients, which may include non-organic sugarcane or molasses. It is the standard type of rum available in most liquor stores and bars. Standard rum and over proof rum are often more widely used in the North American rum market. Standard rum is rum with average alcohol content (ABV) of between 35% and 40%, which is the common strength for the majority of rum brands. It is widely accessible and frequently used in a variety of mixed drinks and cocktails. In contrast, over proof rum has a greater alcohol concentration, often between 50% and 75% ABV or even higher. Bacardi, Captain Morgan, Mount Gay, Havana Club, Don Q, Appleton Estate, Cruzan, Malibu are some famous brands in North America.
What's Inside a Bonafide Research`s industry report?
A Bonafide Research industry report provides in-depth market analysis, trends, competitive insights, and strategic recommendations to help businesses make informed decisions.
Rum is now widely used in both traditional and modern cocktails on the North American continent. To make distinctive and intriguing drinks, bartenders frequently experiment with various rum kinds, infusions, and flavors. Rum's popularity stems from the variety of cocktails that may be made with it thanks to its adaptability. Government policies in North America regarding the rum market encompass a range of regulations and considerations. These policies are designed to ensure the responsible production, distribution, and consumption of rum while safeguarding public health and safety. One significant aspect of government policy is the regulation and licensing of rum production and sale. Governments impose requirements for labeling, health and safety standards, production processes, and age restrictions. These measures help maintain product quality and protect consumers from potential harm. In addition, alcohol control boards and commissions oversee the regulation and control of alcoholic beverages, including rum. They issue licenses, set pricing policies, regulate advertising and promotions, and enforce compliance with alcohol laws and regulations.
Standard or mass-market rum is typically utilised more frequently than premium rum in the North American rum market. The more extensively distributed and reasonably priced rums that are sold in supermarkets and liquor stores are referred to as mass-market rums. Usually made in bigger volumes, these rums are intended for a wide range of consumers. Premium rum, on the other hand, only makes up a minor portion of the market. Since they frequently use better-quality ingredients and go through longer ageing periods, premium rums have a higher price tag. The target market for them is often enthusiasts and aficionados who value the complexity and depth of flavors found in aged and premium rums. Liquor Stores, Supermarkets/Hypermarkets Bars, Restaurants are more preferred in distribution channels.
The United States (US) holds a more significant position in the North American rum market due to several key factors. Firstly, the US boasts a substantial consumer market with a population exceeding 330 million individuals. This large market size provides ample opportunities for rum producers to tap into a wide customer base and generate significant sales volume. Secondly, the US possesses a robust and resilient economy, making it one of the world's largest. The strength of the US economy translates into higher purchasing power and disposable income for consumers, enabling increased spending on alcoholic beverages, including rum. As a result, the US market presents an attractive proposition for rum producers seeking to capitalize on consumer demand. The US serves as a critical hub for rum importation and distribution in the North American region. Many international rum brands establish a robust presence in the US market, leveraging its extensive distribution network to reach consumers across North America. This distribution prowess enhances the availability and accessibility of rum in other North American countries.
Make this report your own
Have queries/questions regarding a report
Take advantage of intelligence tailored to your business objective
Manmayi Raval
Research Consultant
Considered in this report
• Geography: North America
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028
Aspects covered in this report
• North America Rum market with its value and forecast along with its segments
• Country-wise Rum Market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation
Countries covered in the report:
• United States
• Canada
• Mexico
Don’t pay for what you don’t need. Save 30%
Customise your report by selecting specific countries or regions
Aspects covered in this report
• United States Rum Market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation
By Types Rum
• White Rum
• Light or Gold Rum
• Dark Rum
• Spiced and Flavored
By Nature
• Conventional
• Organic
By Category
• Standard
• Over proof
By Segment
• Mass
• Premium /Craft Rum
By Distribution Channel
• On -Trade
• Off-Trade
The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.
Intended audience:
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Rum Industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.
Companies Mentioned
Molson Coors Beverage Company
Brown–Forman Corporation
Diageo plc
Bacardi Limited
Davide Campari-Milano N.V.
The Edrington Group Ltd.
Pernod Ricard SA
Halewood Artisanal Spirits
Becle SAB de CV
Sazerac Company, Inc
Angostura Holdings Limited
Table of Contents
Table of Contents
1. Executive Summary
2. Research Methodology
2.1. Secondary Research
2.2. Primary Data Collection
2.3. Market Formation & Validation
2.4. Report Writing, Quality Check & Delivery
3. Market Structure
3.1. Market Considerate
3.2. Assumptions
3.3. Limitations
3.4. Abbreviations
3.5. Sources
3.6. Definitions
4. Economic /Demographic Snapshot
5. Global Rum Market Outlook
5.1. Market Size By Value
5.2. Market Share By Region
5.3. Market Size and Forecast, By Rum Type
5.4. Market Size and Forecast, By Nature
5.5. Market Size and Forecast, By Category
5.6. Market Size and Forecast, By Segment
5.7. Market Size and Forecast, By Distribution Channel
6. North America Rum Market Outlook
6.1. Market Size By Value
6.2. Market Share By Country
6.3. Market Size and Forecast, By Rum Type
6.4. Market Size and Forecast, By Nature
6.5. Market Size and Forecast, By Category
6.6. Market Size and Forecast, By Segment
6.7. Market Size and Forecast, By Distribution Channel
6.8. Market Dynamics
6.8.1. Market Drivers & Opportunities
6.8.2. Market Restraints & Challenges
6.8.3. Market Trends
6.8.4. Covid-19 Effect
6.8.5. Supply chain Analysis
6.8.6. Policy & Regulatory Framework
6.8.7. Industry Experts Views
6.9. United States Rum Market Outlook
6.9.1. Market Size By Value
6.9.2. Market Size and Forecast By Rum Type
6.9.3. Market Size and Forecast By Nature
6.9.4. Market Size and Forecast By Category
6.9.5. Market Size and Forecast By Segment
6.9.6. Market Size and Forecast By Distribution Channel
6.10. Canada Rum Market Outlook
6.10.1. Market Size By Value
6.10.2. Market Size and Forecast By Rum Type
6.10.3. Market Size and Forecast By Nature
6.10.4. Market Size and Forecast By Category
6.10.5. Market Size and Forecast By Segment
6.10.6. Market Size and Forecast By Distribution Channel
6.11. Mexico Rum Market Outlook
6.11.1. Market Size By Value
6.11.2. Market Size and Forecast By Rum Type
6.11.3. Market Size and Forecast By Nature
6.11.4. Market Size and Forecast By Category
6.11.5. Market Size and Forecast By Segment
6.11.6. Market Size and Forecast By Distribution Channel
7. Competitive Landscape
7.1. Competitive Dashboard
7.2. Business Strategies Adopted by Key Players
7.3. Key Players Market Positioning Matrix
7.4. Porter's Five Forces
7.5. Company Profile
7.5.1. Diageo plc
7.5.1.1. Company Snapshot
7.5.1.2. Company Overview
7.5.1.3. Financial Highlights
7.5.1.4. Geographic Insights
7.5.1.5. Business Segment & Performance
7.5.1.6. Product Portfolio
7.5.1.7. Key Executives
7.5.1.8. Strategic Moves & Developments
7.5.2. The Edrington Group Ltd.
7.5.3. Brown–Forman Corporation
7.5.4. Davide Campari-Milano N.V.
7.5.5. Bacardi Limited
7.5.6. Pernod Ricard SA
7.5.7. Angostura Holdings Limited
7.5.8. Halewood Artisanal Spirits
7.5.9. Becle SAB de CV
7.5.10. Sazerac Company, Inc.
7.5.11. Molson Coors Beverage Company
8. Strategic Recommendations
9. Annexure
9.1. FAQ`s
9.2. Notes
9.3. Related Reports
10. Disclaimer
List of Tables
Table 1: Global Rum Market Snapshot, By Segmentation (2022 & 2028) (in USD Billion)
Table 2: Top 10 Counties Economic Snapshot 2020
Table 3: Economic Snapshot of Other Prominent Countries 2020
Table 4: Average Exchange Rates for Converting Foreign Currencies into U.S. Dollars
Table 5: Global Rum Market Size and Forecast, By Rum Type (2017 to 2028F) (In USD Billion)
Table 6: Global Rum Market Size and Forecast, By Nature (2017 to 2028F) (In USD Billion)
Table 7: Global Rum Market Size and Forecast, By Category (2017 to 2028F) (In USD Billion)
Table 8: Global Rum Market Size and Forecast, By Segment (2017 to 2028F) (In USD Billion)
Table 9: Global Rum Market Size and Forecast, By Distribution Channel (2017 to 2028F) (In USD Billion)
Table 10: North America Rum Market Size and Forecast, By Rum Type (2017 to 2028F) (In USD Billion)
Table 11: North America Rum Market Size and Forecast, By Nature (2017 to 2028F) (In USD Billion)
Table 12: North America Rum Market Size and Forecast, By Category (2017 to 2028F) (In USD Billion)
Table 13: North America Rum Market Size and Forecast, By Segment (2017 to 2028F) (In USD Billion)
Table 14: North America Rum Market Size and Forecast, By Distribution Channel (2017 to 2028F) (In USD Billion)
Table 15: Influencing Factors for Global Rum Market, 2022
Table 16: United States Rum Market Size and Forecast By Rum Type (2017 to 2028F) (In USD Billion)
Table 17: United States Rum Market Size and Forecast By Nature (2017 to 2028F) (In USD Billion)
Table 18: United States Rum Market Size and Forecast By Category (2017 to 2028F) (In USD Billion)
Table 19: United States Rum Market Size and Forecast By Segment (2017 to 2028F) (In USD Billion)
Table 20: United States Rum Market Size and Forecast By Distribution Channel (2017 to 2028F) (In USD Billion)
Table 21: Canada Rum Market Size and Forecast By Rum Type (2017 to 2028F) (In USD Billion)
Table 22: Canada Rum Market Size and Forecast By Nature (2017 to 2028F) (In USD Billion)
Table 23: Canada Rum Market Size and Forecast By Category (2017 to 2028F) (In USD Billion)
Table 24: Canada Rum Market Size and Forecast By Segment (2017 to 2028F) (In USD Billion)
Table 25: Canada Rum Market Size and Forecast By Distribution Channel (2017 to 2028F) (In USD Billion)
Table 26: Mexico Rum Market Size and Forecast By Rum Type (2017 to 2028F) (In USD Billion)
Table 27: Mexico Rum Market Size and Forecast By Nature (2017 to 2028F) (In USD Billion)
Table 28: Mexico Rum Market Size and Forecast By Category (2017 to 2028F) (In USD Billion)
Table 29: Mexico Rum Market Size and Forecast By Segment (2017 to 2028F) (In USD Billion)
Table 30: Mexico Rum Market Size and Forecast By Distribution Channel (2017 to 2028F) (In USD Billion)
?
List of Figures
Figure 1: Global Rum Market Size (USD Billion) By Region, 2022 & 2028
Figure 2: Market attractiveness Index, By Region 2028
Figure 3: Market attractiveness Index, By Segment 2028
Figure 4: Global Rum Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 5: Global Rum Market Share By Region (2022)
Figure 6: North America Rum Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 7: North America Rum Market Share By Country (2022)
Figure 8: US Rum Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 9: Canada Rum Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 10: Mexico Rum Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 11: Competitive Dashboard of top 5 players, 2022
Figure 12: Porter's Five Forces of Global Rum Market
Market Research FAQs
The United States and Canada are the largest consumers of rum in North America. These countries have a significant market for rum consumption, with a wide variety of domestic and imported rum brands available.
Key trends in the North America rum market include the growing interest in premium and craft rums, the popularity of aged and spiced rums, the rise of cocktail culture and mixology, and the demand for unique and innovative rum expressions. There is also a focus on sustainability, organic production methods, and the use of locally sourced ingredients in rum production.
The COVID-19 pandemic has had a mixed impact on the North America rum market. The closure of bars, restaurants, and tourism-related establishments initially led to a decline in on-trade sales. However, off-trade sales, including retail and e-commerce channels, saw an increase as consumers shifted towards at-home consumption. The long-term effects on the market will depend on factors such as the pace of recovery, changes in consumer behavior, and government regulations.
The North America rum market includes various major players in the industry. Some of the prominent rum brands and companies operating in the region include Bacardi, Diageo (Captain Morgan), Pernod Ricard (Malibu), and Sailor Jerry. These companies have a significant market presence and offer a range of rum products catering to different consumer preferences.
The growth prospects for the North America rum market can be influenced by factors such as consumer demand, economic conditions, regulatory policies, and competition from other alcoholic beverages. While the market has seen growth in the premium and craft rum segments, the demand for unique and innovative rum expressions, and the popularity of rum-based cocktails, it also faces challenges such as changing drinking preferences and competition from other spirits categories. The ability of rum producers to effectively market their brands, engage with consumers, and adapt to evolving trends in the beverage industry will play a crucial role in determining the future growth of the North America rum market.
One individual can access, store, display, or archive the report in Excel format but cannot print, copy, or share it. Use is confidential and internal only. Read More
One individual can access, store, display, or archive the report in PDF format but cannot print, copy, or share it. Use is confidential and internal only. Read More
Up to 10 employees in one region can store, display, duplicate, and archive the report for internal use. Use is confidential and printable. Read More
All employees globally can access, print, copy, and cite data externally (with attribution to Bonafide Research). Read More