Mexico Rum Market Overview, 2028

Mexico Rum Market Overview, 2028

Mexico a country rich in cultural heritage and renowned for its tequila and mezcal production, is also making a significant impact in the rum market. With its diverse landscapes, favorable climate, and a growing number of craft distilleries, Mexico is emerging as a noteworthy player in the global rum industry. The Mexican rum market offers a unique blend of traditional craftsmanship and innovative approaches, attracting both domestic and international consumers. Mexico's rum production is characterized by the use of high-quality sugarcane and molasses, sourced from various regions within the country. This allows for the creation of distinct rum profiles, ranging from smooth and sweet to robust and full-bodied. Furthermore, Mexico's long-standing expertise in spirit production, combined with the influence of local traditions and techniques, adds depth and complexity to its rum offerings. Mexico has a vibrant cocktail culture, and rum is a key ingredient in many popular cocktails. Mixologists and bartenders are experimenting with unique rum-based concoctions, creating innovative and exciting drinks that cater to evolving consumer tastes. This trend has contributed to the increased visibility and appreciation of rum in the Mexican market.

According to the research report Mexico Rum Market Overview, 2028, published by Bonafide Research, The Mexico Rum market is expected to grow at above 5.85% CAGR from 2023 to 2028.Some popular rum brands in Mexico like Ron Del Barrilito, Ron Zacapa, Ron Abuelo, Flor de Caña, Ron Matusalem. Mexico hosts various rum festivals and events, providing opportunities for rum enthusiasts to immerse themselves in the world of rum. These festivals feature tastings, cocktail competitions, educational seminars, and cultural activities that celebrate the history, production, and enjoyment of rum. Festival Del Ron (Rum Festival) held annually in Mexico City, this festival brings together rum enthusiasts, professionals, and industry experts. In Mexico, the rum industry is regulated by various government bodies and laws. The Mexican Official Standard (NOM) establishes the requirements and specifications for rum production, ensuring quality and integrity. Taxation and excise duties are imposed on rum production and sale, contributing to government revenue. The Mexican Institute of Industrial Property (IMPI) protects trademarks and intellectual property rights of rum brands. The Secretariat of Agriculture and Rural Development (SADER) oversees policies related to sugarcane cultivation, the primary raw material for rum. These regulations ensure compliance, protect consumers, and support the growth and development of the rum industry in Mexico.

In Mexico, there is a preference for a range of rum types. Añejo rum, aged for at least one year, is favored for its smoothness and complex flavors. Blanco or white rum, and light in flavor, is commonly used as a base for cocktails. Spiced rum, infused with spices like cinnamon and nutmeg, adds distinctive warmth to mixed drinks. Flavored rums, such as coconut or pineapple, offer a variety of options for tropical cocktails. Preferences for rum types can vary among individuals, with some opting for sipping rums while others prefer rum as a key ingredient in vibrant cocktail creations.In Mexico, the distribution of rum relies on a variety of channels to effectively reach consumers across the country. These distribution channels include retail stores, bars, restaurants, nightclubs, online retailers, duty-free shops, and distributors/wholesalers. Retail stores, such as supermarkets, liquor stores, and specialty beverage retailers, are widely used channels for rum distribution. These stores provide a convenient and accessible way for consumers to purchase a wide range of rum brands and varieties. Bars, restaurants, and nightclubs also play a significant role in the distribution of rum in Mexico. Duty-free shops located in airports and border crossings cater to travelers and tourists, offering a range of spirits, including rum. These shops provide an opportunity for consumers to purchase rum as souvenirs or for personal consumption. In Mexico, standard rum is more commonly used and preferred by consumers compared to over proof rum. Standard rum refers to rum with a typical alcohol content ranging from 35% to 40% ABV (alcohol by volume). It is the most widely available and widely consumed category of rum in Mexico.

Considered in this report
• Geography: Mexico
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report
• Mexico Rum Market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Types Rum
• White Rum
• Light or Gold Rum
• Dark Rum
• Spiced and Flavored

By Nature
• Conventional
• Organic

By Category
• Standard
• Over proof

By Segment
• Mass
• Premium /Craft Rum

By Distribution Channel
• On -Trade
• Off-Trade

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us. We have started verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to rum industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

Keywords: 
Mexico, White Rum, Gold Rum, Dark Rum, Spiced and Flavored, Conventional and Organic, Standard, over proof, Mass, Craft rum, online /offline and others