Cibi e Bevande
Spiced Rum Market Worth $9.39 Billion By 2027 | CAGR: 4.3%: Grand View Research, Inc.
https://www.grandviewresearch.com/industry-analysis/spiced-flavored-rum-market
In terms of product, the fruit-based spiced/flavored rum led the market with over 55% share of the total revenue in 2019. This spirit blends well with the fruits, such as lime, pineapple, coconut, and orange. Over the past few years, companies have introduced several products under the fruit category. For instance, in July 2019 , Cruzan Rum brand of Suntory Holdings Limited introduced its watermelon flavored premium product.
Asia Pacific dominated the market for spiced/flavored rum in 2019 and held more than 45% share of the global revenue. Increased demand for premium and innovative drinks in China , India , South Korea , Japan , Philippines , and Australia has fueled the market growth in the region. Europe is projected to witness the fastest growth over the forecast period.
Key competitors in this industry include Diageo; Bacardi Limited; Suntory Holdings Limited; Destilería Serrallés; Admiral Nelson's Rum; Tanduay Distillers, Inc.; Pernod Ricard; Maine Craft Distilling, LLC; Altitude Spirits, Inc.; Davide Campari-Milano S.p.A.; Heaven Hill Distillery; SEASPIRITS; and Sazerac Co. Merger & acquisition and new product launch are the key strategies adopted by the manufacturers in the industry. For instance, in September 2019 , Davide Campari-Milano S.p.A. acquired Rhumantilles, from Chevrillon Group. Rhumantilles is the owner of Maison La Mauny and Trois Rivières rum brands. This acquisition will enhance Davide Campari-Milano's high-grade aged inventory and strengthen its position in France .
Alcohol & Tobacco Industry
Grand View Compass
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco , the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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