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1 Market summary
1.1 Definition and presentation
Rum is a distilled alcoholic beverage made from the fermentation and subsequent distillation of sugarcane juice, molasses or sugarcane syrup. It originates in the Caribbean, but is also produced in many other regions of the world. The production process of rum includes several steps that determine its flavor and quality: fermentation, distillation, aging, and blending.
The size of the global rum market was worth $16.35 billion in 2023 and is estimated to grow further at a compound annual growth rate (CAGR) of 5.5 percent from 2024 to 2029, reaching $22.54 billion by 2029, up from $17.25 billion in 2024. This represents an overall increase of 30.7 percent over five years. The global rum market is booming because the mental category is receiving a lot of attention. Rum is the second favorite drink among all spirits. Consumers are increasingly interested in new flavor profiles beyond those offered by dark and golden rum, and flavored rums are widely used in the preparation of cocktails, shakers, and drink mixes.
The rum market in Europe is expected to grow steadily between 2024 and 2029. With an initial value of $5.19 billion in 2024, estimates indicate that it will reach $6.53 billion by 2029, registering an increase of 25.8 percent. This corresponds to a compound annual growth rate (CAGR) of 4.69 percent. The expansion of the market is favored by the increasing urban population and rising disposable income in European countries.
The value of the Italian market will have an overall increase of 31.6 percent over six years at an assumed CAGR equal to the European one of 4.69 percent. In recent years, the value of production sold has shown a significant growth of 271.7%, very positive news also on the demand side, where production made and sold have both increased by 351.17% and 276.39% respectively. Both the number of active enterprises and the number of employees in the sector in Italy showed significant growth. Enterprises increased by 12.4%, while the number of employees saw an increase of 13.5%. The positive trend shows good expansion, with a parallel increase in companies and workforce, especially from 2021 onward.
1.2 The global market
The size of the global rum market was worth $**.** billion in **** and is estimated to grow further at a compound annual growth rate (***) of *.* percent from **** to ****, reaching $**.** billion by ****, up from $**.** billion in ****. This represents an overall increase of **.* percent over five years. The global rum market is booming because ...
1.3 The European market
The European rum market is expected to grow steadily from **** to ****. Starting from a value of $*.** billion in ****, it is expected to reach $*.** billion by ****. This represents an increase of **.* percent at a compound annual growth rate (***) of *.** percent. The growing urban population, coupled with rising disposable income in European countries, ...
1.4 The Italian market
In ****, the market is estimated at ***.** million euros, with a gradual increase expected to bring it to ***.** million euros by ****. This represents an overall increase of **.* percent in six years at an assumed CAGR equal to the European CAGR of *.** percent. Italian market value forecast Italy, ****-****, in millions of € Istat, ...
1.5 Imports and Exports
From **** to ****, Italy saw a fluctuation in rum imports and exports. Exports peaked in **** at $***.* million, then dropped to $***.* million in ****. Imports, on the other hand, increased slightly, starting from $***.* million in **** to reach $***.* million in ****, then declining to $***.* million in ****. The coverage rate, which indicates the ratio of exports to ...
1.6 Inflation suffered by the sector
The distilled spirits sector in Italy has faced inflation by adopting various strategies to cope with rising costs and maintain competitiveness. Rising prices of raw materials, production and logistics have forced many companies to adjust the prices of their products upward. This price increase has been reflected both on store shelves ...
2 Demand analysis
2.1 Overview of demand
Between **** and ****, the average household expenditure item for distilled spirits in Italy showed a gradual increase. In ****, the average expenditure was *.** euros, decreasing slightly to *.** euros in **** and remaining stable in ****. Starting in ****, spending began to rise, reaching *.** euros and continuing to increase in **** to *.** euros. In ****, it rose to *.** euros, ...
2.2 Geographical distribution of demand
In ****, the average monthly household expenditure on distilled spirits in Italy shows significant variations geographically. Households in the Northeast and Northwest record the highest expenditure, with *.** euros each. In the Center, the average expenditure falls to *.** euros, while in the regions of the South and Islands it stands at *.** euros. These ...
2.3 Demand drivers
In ****, the consumption of bitters among people aged ** years and older in Italy varies significantly among different age groups. Data in thousands indicate that the **-** age group has the largest number of consumers, with *,*** people. This is followed by the age groups **-** years (***) have the lowest percentages of ...
2.4 Trends in rum demand
The trend of online rum searches in Italy between August **** and August **** shows an overall stable trend with some significant fluctuations during holiday periods. From August **** to August ****, the index increased by *.* percent, from **.* to **.*. A notable peak is observed in December **** (***), probably due to the interest in rum during the ...
2.5 New trends in demand
The rum market is undergoing a significant transformation, driven by a number of new trends that are redefining global demand for this distilled spirit. These trends indicate that the rum market is in a dynamic phase of evolution, with a promising future fueled by innovation, quality and increased awareness among ...
3 Market structure
3.1 Structure and dynamics of the Italian market
Between **** and ****, the number of enterprises active in distillation, rectification and blending of spirits in Italy showed steady growth. In ****, there were *** active enterprises, increasing to *** in **** and *** in ****. In ****, the number increased to ***, continuing to grow to *** in **** and reaching *** enterprises in ****. This represents an overall increase of **.* percent in ...
3.2 Value chain
*. Acquisition of raw materials:
At this stage, the necessary raw materials are selected and collected, mainly sugarcane or its derivatives such as molasses. The quality of the raw materials is crucial to the final quality of the rum.
*. Processing and Fermentation:
Raw materials are processed to extract the sugars, which ...
3.3 Distribution channels
In ****, in Italy, alcohol sales by value in large-scale retail trade (***) were dominated by distilled spirits and brandies, accounting for **.* percent of the total. This was followed by sweet liqueurs with **.* percent, alcoholic aperitifs with **.* percent, and finally bitters with **.* percent. This indicates a clear dominance of distilled spirits and brandies ...
3.4 The main players in the market
The main Italian distribution and production companies are as follows:
Pernod Ricard: is a French multinational company founded in ****, a leader in the alcoholic beverage sector. In the rum market, it owns the famous Havana Club brand, one of the world's best-known Cuban rums, produced in the Cuban tradition. The company ...
4 Supply analysis
4.1 Supply analysis
The rum market is rich and diverse, with a wide range of offerings that reflect the diversity of production traditions, raw materials used, aging techniques, and consumer preferences. These types of rums reflect the wide range of offerings available in the market, each with unique characteristics that suit different preferences and ...
4.2 The price analysis
The Consumer Price Index for spirits in Italy shows an upward trend between July **** and July ****. Starting from a value of ***.* in July ****, the index reaches ***.* in July ****, marking a *.* percent increase in two years. In detail, the index rose relatively steadily until November ****, followed by a brief decrease in December ...
4.3 New supply trends
The rum market has been undergoing significant evolution in recent years, driven by increasing demand for premium products, innovation in production techniques, and increased consumer awareness of various rum styles and origins. Here is a detailed description of the main trends that are shaping the supply of rum in ****:
*. Premiumization ...
5 Rules and regulations
5.1 Rum regulation
In Italy, the production and distribution of rum is regulated by a series of regulations that combine national and European laws, setting strict standards to ensure product quality and consumer safety. The starting point for the regulation of rum is Regulation (***) No. ****/*** of the European Parliament and of the Council of ...
6 Positioning of actors
6.1 Market segmentation
- Pernod Ricard
- Diageo
- Velier
- Rossi & Rossi
- Compagnia dei Caraibi
- Moon Import
- Bacardi Limited
- Destillerìa Serrallés
- Appleton Estate (Campari)
- Mount Gay Rum
List of charts presented in this market study
- Global rum market value
- Value of U.S. demand for flavored rum
- Rum market quotations divided by category
- European rum market value
- Major European rum exporters
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the rum market | Italy
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