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Rum Market to reach 150.51 million Litres by 2024, Asahi Group Holdings Ltd. and Bacardi Global Brands Ltd. emerge as a Key Contributors to growth | Technavio

October 8, 2020 GMT
Technavio has announced its latest market research report titled Global Rum Market 2020-2024 (Graphic: Business Wire)
Technavio has announced its latest market research report titled Global Rum Market 2020-2024 (Graphic: Business Wire)

LONDON--(BUSINESS WIRE)--Oct 8, 2020--

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.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201008005597/en/

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Technavio has announced its latest market research report titled Global Rum Market 2020-2024 (Graphic: Business Wire)

Although the COVID-19 pandemic continues to transform the growth of various industries, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. Technavio’s in-depth research has all your needs covered as our research reports include all foreseeable market scenarios, including pre- & post-COVID-19 analysis. Download a Free Sample Report on COVID-19 Impacts

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.

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  • 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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View market snapshot before purchasing

Technavio’s custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.

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

To learn more about the global trends impacting the future of market research, download a free sample:https://www.technavio.com/talk-to-us?report=IRTNTR40077

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.

Register for a free trial today and gain instant access to 17,000+ market research reports. Technavio’s SUBSCRIPTION platform

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/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

Email:media@technavio.com

Website:www.technavio.com/ 

KEYWORD:

INDUSTRY KEYWORD: OTHER CONSUMER OTHER RETAIL CONSUMER WINE & SPIRITS RETAIL

SOURCE: Technavio Research

Copyright Business Wire 2020.

PUB: 10/08/2020 05:45 PM/DISC: 10/08/2020 05:45 PM

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