The rum market size in Asia-Pacific was worth USD 3.65 billion in 2023. The Asia-Pacific regional market size is anticipated to be worth USD 6.59 billion by 2032 from USD 4.05 billion in 2024, growing at a CAGR of 6.26% from 2024 to 2032.
Rum is a distilled alcoholic beverage produced from sugarcane by-products, like molasses, or directly from sugarcane juice through fermentation and distillation. The distillate, a clear liquid, is then commonly aged in oak barrels. Increased Demand for Premium Brands and the Popularity of Cocktail Culture are the primary drivers of this market. High Competition from Non-alcoholic Beverages is the major challenge in this market.
Rums are manufactured in several grades. Light rums are usually used in cocktails, whereas "golden" and "dark" rums are usually consumed straight or neat, on the rocks, or used for cooking, but these days are consumed with mixers. Premium rums are produced to be consumed either straight or iced. Segmenting rum into meaningful groupings is difficult because no single standard exists for what constitutes rum. Therefore, rum is defined by the varying rules and laws of the nation’s manufacturing of the spirit. The differences in definitions are issues such as spirit proof, minimum aging, and even naming standards. The grades and variations utilized for describing rum depend on the location of its production.
In spite of these variations, the following terms are commonly used to describe different types of rum - Dark rums, Flavoured rums, Gold rums, Light rums, over-proof rums, Premium rums, and Spiced rums. Super and ultra-premium rum segments are "still growing robustly." Nonetheless, rum continues to underperform in contrast to rival spirits segments, for example, Scotch whisky and Cognac, with the super and ultra-premium price categories accounting for less than 0.5% of sales.
Rum is also produced in India, Mauritius, Thailand, and Japan. However, India will see a fall of more than 2m cases, while volumes in the Philippines are predicted to decline by 3.8m cases.
Companies playing a key role in the Asia-Pacific rum market include Bacardi, Diageo, Pernod Ricard, Tanduay, Amrut Distilleries, Beam Suntory, Gruppo Campari, Matusalem, Mohan Meakin, Patron Spirits, Pusser's, Radico Khaitan, Ron Bermudez and Ron Edmundo Dantes.
Related Reports
Access the study in MULTIPLE FORMATS
Purchase options starting from $ 2000
Didn’t find what you’re looking for?
TALK TO OUR ANALYST TEAM
Need something within your budget?
NO WORRIES! WE GOT YOU COVERED!
Call us on: +1 888 702 9696 (U.S Toll Free)
Write to us: [email protected]
Reports By Region