Global Craft Rum Market Size Study, By Type, Application, Distribution Channel, Region, and Regional Forecasts 2022-2032

Global Craft Rum Market Size Study, By Type, Application, Distribution Channel, Region, and Regional Forecasts 2022-2032

The global craft rum market was valued at USD 1.27 billion in 2023 and is anticipated to grow at a CAGR of 5.9% over the forecast period 2024-2032. This growth is attributed to rising consumer demand for premium and artisanal spirits that focus on quality, authenticity, and sustainability. Craft rum's distinct flavor profiles, achieved through small-batch production and innovative distillation techniques, appeal to millennial and Gen Z consumers.

The market is segmented based on Type, Application, and Distribution Channel. Among types, white rum, black rum, golden rum, and spiced rum cater to diverse taste preferences and cocktail trends. Golden rum and spiced rum are particularly favored in premium cocktails due to their robust flavor profiles. The application segment includes distribution through bottle stores, bars, online platforms, and restaurants, highlighting growing consumer interest in both on-trade and off-trade channels.

The on-trade segment dominated in 2023, with bars and restaurants serving as key platforms for introducing craft rum-based cocktails to consumers. Meanwhile, the off-trade segment is expected to grow fastest, driven by increasing availability through supermarkets, liquor stores, and online platforms. Regional dynamics favor Europe as the leading market, with Italy and Germany driving demand, while Asia-Pacific is expected to grow fastest, led by markets such as India and Japan.

Innovation, sustainability, and the adoption of AI-powered production technologies are key strategies among leading players, including Bacardi Limited, Diageo, and Suntory Holdings. Brands are focusing on introducing new flavors, enhancing packaging, and promoting craft rum through social media and direct-to-consumer channels.

Major Market Players Included in This Report Are:
• Bacardi Limited
• Suntory Holdings Limited
• Diageo
• Maine Craft Distilling, LLC
• Charles Merser & Co.
• Drum & Black Rum Company
• Wicked Dolphin Rum
• Domaines Ellam and Arizona Craft Beverage
• Rockstar Spirits Ltd.
• Belize Spirits Marketing, Inc.
• Havana Club International
• Plantation Rum
• Ron Diplomático
• Mount Gay Distilleries
• Stroh Austria GmbH

The Detailed Segments and Sub-segments of the Market Are Explained Below:

By Type
• White Rum
• Black Rum
• Golden Rum
• Spiced Rum

By Application
• Bottle Stores
• Bars
• Online
• Restaurants

By Distribution Channel
• On-trade
• Off-trade

By Region
• North America
U.S.
Canada
Mexico
• Europe
UK
Germany
France
Italy
Spain
• Asia Pacific
China
India
Japan
Australia & New Zealand
• Latin America
Brazil
Argentina
• Middle East & Africa
South Africa
UAE

Years Considered for the Study Are as Follows:
• Historical Year: 2022
• Base Year: 2023
• Forecast Period: 2024 to 2032

Key Takeaways:
• Market Estimates & Forecast for 10 Years from 2022 to 2032.
• Annualized Revenues and Regional-Level Analysis for Each Market Segment.
• Competitive Landscape with Information on Major Players in the Market.
• Detailed Analysis of Geographical Landscape with Country-Level Analysis of Major Regions.
• Demand-Side and Supply-Side Analysis of the Market.

Please note:The single user license is non-downloadable and non-printable. Global Site license allows these actions.