Craft Rum Market Overview Analysis, Trends, Growth, and Global Forecast till 2028

The Global Craft Rum Market size is expected to reach USD 1.70 billion by 2028 and register a CAGR of 5.5% over the forecast period, according to the latest report by Reports and Data. Global market revenue growth can be primarily attributed to rapid demand for craft liquor such as craft rum among younger consumers, rising number of craft distilleries worldwide, and resilient pub and discotheque culture in countries across the globe. The rising endorsements of craft spirits and luxury alcoholic beverages on social media platforms, increasing availability of craft rum at bars and pubs, increasing consumption of packaged alcoholic beverages at parties, raves, and social gatherings, and changing lifestyle and tastes of millennial consumers are some other key factors expected to continue to support revenue growth of the global craft rum market going ahead. Rum is a strong-tasting, sweetened distilled alcoholic beverage available widely in various types including dark rum, light rum, gold rum, black rum, white rum, and vintage rum. Craft rum is a unique modification of commercial rum that offers a twist to the authentic flavor of rum. It is made with handpicked ingredients and unique flavor combinations, with spiced rum being the most popular type of craft rum infused with ingredients such as cinnamon, ginger, vanilla, pepper, clove, nutmeg, rosemary, coconut, and various tropical fruits.

Craft rum manufacturers around the world have been making product innovations using ingredients and flavors like buttery caramel, smoky licorice, vanilla, and sugary syrups to enhance taste. Rising demand for premium alcoholic beverages, including craft rum cocktails, increasing awareness about potential health benefits associated with consumption of rum, and rising purchasing power of consumers are factors expected to further bolster global market growth. However, various side-effects associated with excessive consumption of rum such as indigestion, diarrhea, and vomiting are factors expected to impact market growth to some extent.

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Competitive Landscape:

The research report offers details about leading companies in the global Craft Rum market along with global position, financial standing, license agreement, products and services portfolio and revenue contribution of each market player. Key players in the market are focusing on adopting various strategies such as mergers and acquisition, business expansion plans, new product launches, partnerships, collaborations, joint ventures to enhance their product base and gain robust footing in the market.

Some of the Leading Market Players Are Listed Below:

• Wicked Dolphin Rum,
• Drum Circle Distilling,
• Drum & Black,
• Burning Barn,
• Bacardi Limited,
• Charles Merser & Co.,
• Domaines Ellam,
• Arizona Craft Beverage,
• Rockstar Spirits Ltd.,
• Lyon Distilling Company,
• Copalli.

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Market Segmentation:

Craft Rum Market Segmentation based on Product Type:

• Spiced Rum
• White Rum
• Coconut Rum
• Cranberry Rum
• Coffee Rum
• Others (Orange Rum, Vanilla Rum, etc.)

 Craft Rum Market Segmentation based on Price Range:

• Low
• Medium
• High

Craft Rum Market Segmentation based on Distribution Channel:

• Hotels & Restaurants
• Bars & Pubs
• Cafes
• Liquor Shops
• Retail Stores
• Online Channels
• Others

Craft Rum Market Segmentation based on Regions:

• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Spain, Benelux, Rest of Europe)
• Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
• Latin America (Brazil, Rest of Latin America)
• Middle East & Africa (Saudi Arabia, UAE, South Africa, Rest of Middle East & Africa)

Key Features of the global Craft Rum Market:

• The report offers detailed estimations at the regional level with manufacturers, consumption, sales and import/export dynamics.
• The report provides accurate details related of the manufacturers/vendors in the market, company overview, pricing analysis, financial standing, product portfolio, and gross profit of leading companies.
• Company profiling with prevalent expansion strategies, revenue generation, and recent developments.
• Optimum strategic initiatives for new players in the market.
• Manufacturing processes, suppliers, cost, rates of production and consumption, transport mode and cost structuring, and value chain analysis.
• The study also includes supply chain trends, including elaborate descriptions of the latest technological development

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