Rum Market to grow by 150.51 mn L in 2020, Asahi Group Holdings Ltd. and Bacardi Global …

NEW YORK, March 4, 2021 /PRNewswire/ — Technavio has been monitoring the rum market and it is poised to grow by 150.51 mn L during 2020-2024, progressing at a CAGR of about 2% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Rum Market by Product, Distribution Channel, and Geography - Forecast and Analysis 2020-2024Rum Market by Product, Distribution Channel, and Geography - Forecast and Analysis 2020-2024

Rum Market by Product, Distribution Channel, and Geography – Forecast and Analysis 2020-2024

Impact of COVID-19
The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a high impact on the rum market.
Frequently Asked Questions:

  • What are the major trends in the market?
    Rising demand for rum cocktails is a major trend driving the growth of the market.

  • At what rate is the market projected to grow?
    The market will accelerate at a CAGR of about 2% and the incremental growth of the market is anticipated to be 150.51 mn L.

  • Who are the top players in the market?
    Asahi Group Holdings Ltd., Bacardi Global Brands Ltd., Davide Campari-Milano Spa, Demerara Distillers Ltd., Diageo Plc, LT Group Inc., Nova Scotia Spirit Co., Pernod Ricard SA, Suntory Holdings Ltd., and William Grant & Sons Ltd., are some of the major market participants.

  • What is the key market driver?
    The demand for premium varieties of rum is one of the major factors driving the market.

  • How big is the APAC market?
    The APAC region will contribute to 47% of the market share.

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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Asahi Group Holdings Ltd., Bacardi Global Brands Ltd., Davide Campari-Milano Spa, Demerara Distillers Ltd., Diageo Plc, LT Group Inc., Nova Scotia Spirit Co., Pernod Ricard SA, Suntory Holdings Ltd., and William Grant & Sons Ltd. are some of the major market participants. The demand for premium varieties of rum will offer immense growth opportunities. In a bid to help players strengthen their market foothold, this rum market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.

Technavio’s custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.

Rum Market 2020-2024: Segmentation

Rum Market is segmented as below:

  • Product

  • Distribution channel

  • Geographic Landscape

To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR40077

Rum Market 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The rum market report covers the following areas:

This study identifies rising demand for rum cocktails as one of the prime reasons driving the Rum Market growth during the next few years.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Rum Market 2020-2024: Key Highlights

  • CAGR of the market during the forecast period 2020-2024

  • Detailed information on factors that will assist rum market growth during the next five years

  • Estimation of the rum market size and its contribution to the parent market

  • Predictions on upcoming trends and changes in consumer behavior

  • The growth of the rum market across North America, APAC, Europe, South America, and MEA

  • Analysis of the market’s competitive landscape and detailed information on vendors

  • Comprehensive details of factors that will challenge the growth of rum market vendors

Table of Contents:

PART 01: EXECUTIVE SUMMARY

PART 02: SCOPE OF THE REPORT

PART 03: MARKET LANDSCAPE

PART 04: MARKET SIZING

PART 05: FIVE FORCES ANALYSIS

PART 06: MARKET SEGMENTATION BY PRODUCT

  • Market segmentation by product

  • Comparison by product

  • Gold and dark rum – Market size and forecast 2019-2024

  • White rum – Market size and forecast 2019-2024

  • Spiced rum – Market size and forecast 2019-2024

  • Market opportunity by product

PART 07: MARKET SEGMENTATION BY DISTRIBUTION CHANNEL

  • Market segmentation by distribution channel

  • Comparison by distribution channel

  • On-trade – Market size and forecast 2019-2024

  • Off-trade – Market size and forecast 2019-2024

  • Market opportunity by distribution channel

PART 08: CUSTOMER LANDSCAPE

PART 09: GEOGRAPHIC LANDSCAPE

  • Geographic segmentation

  • Geographic comparison

  • APAC – Market size and forecast 2019-2024

  • North America – Market size and forecast 2019-2024

  • Europe – Market size and forecast 2019-2024

  • South America – Market size and forecast 2019-2024

  • MEA – Market size and forecast 2019-2024

  • Key leading countries

  • Market opportunity

PART 10: DECISION FRAMEWORK

PART 11: DRIVERS AND CHALLENGES

  • Market drivers

  • Market challenges

PART 12: MARKET TRENDS

PART 13: VENDOR LANDSCAPE

  • Overview

  • Landscape disruption

  • Competitive scenario

PART 14: VENDOR ANALYSIS

  • Vendors covered

  • Vendor classification

  • Market positioning of vendors

  • Asahi Group Holdings Ltd.

  • Bacardi Global Brands Ltd.

  • Davide Campari-Milano Spa

  • Demerara Distillers Ltd.

  • Diageo Plc

  • LT Group Inc.

  • Nova Scotia Spirit Co.

  • Pernod Ricard SA

  • Suntory Holdings Ltd.

  • William Grant & Sons Ltd.

PART 15: APPENDIX

PART 16: EXPLORE TECHNAVIO

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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