Wilmington, Delaware, Sept. 27, 2023 (GLOBE NEWSWIRE) -- Global Dark Rum Market was valued at US$ 7.1 billion in 2023 and is expected to grow at a significant CAGR of around 5.6% during the forecast period of 2023-2030, according to the latest market report by RationalStat
Market Definition, Market Scope, and Report Overview
Dark rum is a distilled alcoholic beverage that is distinguished by its deep, rich, and dark color, which is normally acquired through ageing in wooden barrels. It's famous for its diverse flavors, which can include caramel, molasses, vanilla, and a variety of spices.
Premium and craft spirits, especially dark rum, are becoming increasingly popular. Consumers are prepared to pay more for high-quality, matured black rums, which is boosting the premium market. The craft cocktail movement has reignited interest in classic and modern cocktail recipes that feature dark rum as a significant ingredient. Dark rum is being used in creative cocktails by mixologists and amateur bartenders.
- According to a deep-dive market assessment by RationalStat, the global dark rum market has been analyzed on the basis of market segments, including type, distribution channel and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
- Market intelligence for the global dark rum market covers market sizes on the basis of market value (US$/EUR Million) and volume (Liters) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
- In addition, the long-term sector and products/services 10-year outlook and its implications on the global dark rum market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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Global Dark Rum Market: Segmental and Market Share Analysis
- On the basis of distribution channel, on-trade is predicted to grow the fastest, at a CAGR of 6.0% during the forecast period. In this rising digitization environment, major suppliers are focusing on e-commerce sites to sell their products.
Report Synopsis
| Report Metrics | Details |
| Base Year | 2023 |
| Forecast Period | 2023-2030 |
| Base Year Market Size | US$ 7.1 billion |
| Market Size Forecast | US$ 10.5 billion |
| Growth Rate | 5.6% |
| Key Market Drivers |
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| Companies Profiled |
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Competition Analysis and Market Structure
Leading brands of dark rum adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global dark rum market include,
- In January 2023, Brown Forman Corporation has finalised its acquisition of Distillers United Group S.L.'s (Spain) Diplomático Rum brand and related assets. The business announced its agreement to purchase the brand in October 2022.
- Brown Forman's foray into the expanding super-premium+ rum sector was marked by this acquisition.
- In March 2022, Proximo Spirits' UK business launched a coffee-flavoured variant of its famous The Kraken Black Spiced Rum.
- The Kraken Roast Coffee is the first flavoured rum released by Cuervo's Proximo Spirits division, and it is accessible in both on- and off-trade channels.
Some of the prominent players and suppliers operating and contributing significantly to the global dark rum market growth include Bacardi and Company Ltd., Diageo PLC, Pernod Ricard, William Grant & Sons Ltd., Westerhall Estate Ltd., HOVI Trading Ltd, Tanduay Distillers, Inc., Mohan Meakin Ltd., Remy Cointreau Group, and Cayman Spirits Co., among others.
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RationalStat has segmented the global dark rum market based on type, distribution channel and region
- Global Dark Rum Market Value (US$ Million), Volume (Liters), and Market Share (2019-2030) Analysis by Type
- Plain
- Flavored
- Spiced
- Global Dark Rum Market Value (US$ Million), Volume (Liters), and Market Share (2019-2030) Analysis by Distribution Channel
- Off-Trade
- On-Trade
- Global Dark Rum Market Value (US$ Million), Volume (Liters), and Market Share (2019-2030) Analysis by Region
- North America Dark Rum Market
- US
- Canada
- Latin America Dark Rum Market
- Brazil
- Mexico
- Rest of Latin America
- Western Europe Dark Rum Market
- Germany
- UK
- France
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe Dark Rum Market
- Russia
- Poland
- Hungary
- Other CIS Countries
- Rest of Eastern Europe
- Asia Pacific Dark Rum Market
- China
- Japan
- India
- South Korea
- Australia
- ASEAN
- Indonesia
- Thailand
- Philippines
- Vietnam
- Malaysia
- Rest of ASEAN
- Rest of Asia Pacific
- Middle East & Africa Dark Rum Market
- GCC
- Saudi Arabia (KSA)
- United Arab Emirates (UAE)
- Rest of the GCC
- South Africa
- Nigeria
- Turkey
- Rest of the Middle East & Africa
- GCC
- North America Dark Rum Market
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Key Questions Answered in the Dark Rum Report:
- What will be the market value of the global dark rum market by 2030?
- What is the market size of the global dark rum market?
- What are the market drivers of the global dark rum market?
- What are the key trends in the global dark rum market?
- Which is the leading region in the global dark rum market?
- What are the major companies operating in the global dark rum market?
- What are the market shares by key segments in the global dark rum market?
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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About RationalStat LLC
RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
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