The global rum market is thriving, as spirit categories are enjoying much of the spotlight. Rum is the second-most preferred drink among all spirits, and consumers are showing an increasing interest in new flavor profiles apart from those offered by dark rum and golden rum, Moreover, flavored rum is widely used to make cocktails, shakers, and drink mixtures. Rum is one of the oldest alcoholic drinks around. Traditional consumers of rum seek premium rum products with unique flavor profiles. Thus, flavored and premium rums are contributing significantly to the growth of the global rum market.
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Key Takeaways of Rum Market Study
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Rum Market: Competitive Landscape
Revenue from the global rum market was pegged at around US$ 15 Bn in 2018. Tanduay Distillers, Bacardi, Diageo, and Pernod Ricard are major market players dominating the global rum market. The core focus of these players is brand building and marketing activities, coupled with unique packaging and design. Moreover, these players are focusing on widening their product portfolios by strategically investing in improving their manufacturing capabilities of organic rum.
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