Technavio has been monitoring the rum market and it is poised to grow by 150.51 million litres during 2020-2024, progressing at a CAGR of about 2% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Technavio has announced its latest market research report titled Global Rum Market 2020-2024 (Graphic: Business Wire)
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Frequently Asked Questions-
- What are the major trends in the market?
- Rising demand for rum cocktails is one of the major trends in the market.
- At what rate is the market projected to grow?
- Growing at a CAGR of about 2%, the incremental growth of the market is anticipated to be 150.51 million litres.
- Who are the top players in the market?
- Asahi Group Holdings Ltd., Bacardi Global Brands Ltd., Davide Campari-Milano Spa, Demerara Distillers Ltd., Diageo Plc, LT Group Inc., Nova Scotia Spirit Co., Pernod Ricard SA, Suntory Holdings Ltd., and William Grant Sons Ltd. are some of the major market participants.
- What are the key market drivers?
- Demand for premium varieties of rum is one of the major factors driving the market.
- How big is the APAC market?
- The APAC region will contribute 47% of market growth.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Asahi Group Holdings Ltd., Bacardi Global Brands Ltd., Davide Campari-Milano Spa, Demerara Distillers Ltd., Diageo Plc, LT Group Inc., Nova Scotia Spirit Co., Pernod Ricard SA, Suntory Holdings Ltd., and William Grant Sons Ltd. are some of the major market participants. The demand for premium varieties of rum will offer immense growth opportunities. To make most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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Rum Market 2020-2024: Segmentation
Rum Market is segmented as below:
- Product
- Gold and Dark Rum
- White Rum
- Spiced Rum
- Distribution channel
- On-trade
- Off-trade
- Geographic Landscape
- APAC
- Europe
- MEA
- North America
- South America
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Rum Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The rum market report covers the following areas:
- Rum Market Size
- Rum Market Trends
- Rum Market Analysis
This study identifies rising demand for rum cocktails as one of the prime reasons driving the rum market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio's in-depth research has direct and indirect COVID-19 impacted market research reports.
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Rum Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist rum market growth during the next five years
- Estimation of the rum market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the rum market
- Analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of rum market vendors
Table of Contents:
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
- Preface
- Currency conversion rates for US$
PART 03: MARKET LANDSCAPE
- Market ecosystem
- Market characteristics
- Value chain analysis
- Market segmentation analysis
PART 04: MARKET SIZING
- Market definition
- Market sizing 2019
- Market Outlook
- Market size and forecast 2019-2024
PART 05: FIVE FORCES ANALYSIS
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
PART 06: MARKET SEGMENTATION BY PRODUCT
- Market segmentation by product
- Comparison by product
- Gold and dark rum Market size and forecast 2019-2024
- White rum Market size and forecast 2019-2024
- Spiced rum Market size and forecast 2019-2024
- Market opportunity by product
PART 07: MARKET SEGMENTATION BY DISTRIBUTION CHANNEL
- Market segmentation by distribution channel
- Comparison by distribution channel
- On-trade Market size and forecast 2019-2024
- Off-trade Market size and forecast 2019-2024
- Market opportunity by distribution channel
PART 08: CUSTOMER LANDSCAPE
PART 09: GEOGRAPHIC LANDSCAPE
- Geographic segmentation
- Geographic comparison
- APAC Market size and forecast 2019-2024
- North America Market size and forecast 2019-2024
- Europe Market size and forecast 2019-2024
- South America Market size and forecast 2019-2024
- MEA Market size and forecast 2019-2024
- Key leading countries
- Market opportunity
PART 10: DECISION FRAMEWORK
PART 11: DRIVERS AND CHALLENGES
- Market drivers
- Market challenges
PART 12: MARKET TRENDS
- Rise in inorganic growth
- Rising demand for rum cocktails
- Growing demand from millennials
PART 13: VENDOR LANDSCAPE
- Overview
- Landscape disruption
- Competitive scenario
PART 14: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Asahi Group Holdings Ltd.
- Bacardi Global Brands Ltd.
- Davide Campari-Milano Spa
- Demerara Distillers Ltd.
- Diageo Plc
- LT Group Inc.
- Nova Scotia Spirit Co.
- Pernod Ricard SA
- Suntory Holdings Ltd.
- William Grant Sons Ltd.
PART 15: APPENDIX
- Research methodology
- List of abbreviations
- Definition of market positioning of vendors
PART 16: EXPLORE TECHNAVIO
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
View source version on businesswire.com: https://www.businesswire.com/news/home/20201008005597/en/
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