(EMAILWIRE.COM, June 06, 2018 ) Global Rum Market estimated to be growing at a CAGR of 0.5% during the forecast period of 2016-2021. It is a decline of almost 3.7m cases, with rum's top three markets - India, the US and the Philippines - all likely to record falls. It further predicts that market is likely to grow at a CAGR of 0.6%.Rum is a distilled alcoholic beverage produced from sugarcane by-products, like molasses, or directly from sugarcane juice, through fermentation and distillation. The distillate, a clear liquid, is then commonly aged in oak barrels. Increased Demand for Premium Brands and Popularity of Cocktail Culture are the primary drivers of this market. High Competition from Non-alcoholic Beverages is the major challenge from this market.

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Rums are manufactured in several grades. Light rums are usually used in cocktails, whereas "golden" and "dark" rums are usually consumed straight or neat, on the rocks, or used for cooking, but these days are consumed with mixers. Premium rums are produced to be consumed either straight or iced. Segmenting rum into meaningful groupings is difficult because no single standard exists for what constitutes rum. Therefore, rum is defined by the varying rules and laws of the nation’s manufacturing the spirit. The differences in definitions are issues such as spirit proof, minimum aging, and even naming standards. The grades and variations utilized for describing rum depend on the location of its production. In spite of these variations, the following terms are commonly used to describe different types of rum - Dark rums, Flavoured rums, Gold rums, Light rums, over proof rums, Premium rums, and Spiced rums. Super and ultra-premium rum segments are "still growing robustly". Nonetheless, rum continues to underperform in contrast to rival spirits segments, for example, Scotch whisky and Cognac, with the super and ultra-premium price categories accounting for less than 0.5% of sales.

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On the basis of geography the market is classified into North America, Europe, Asia Pacific, Latin America and Middle East and Africa. A very significant amount of the world's rum production happens in the Caribbean and Latin America. Rum is also produced in Scotland, Austria, Spain, Australia, New Zealand, Fiji, the Philippines, India, Reunion Island, Mauritius, South Africa, Taiwan, Thailand, Japan, the United States, and Canada. This report notes that, while only two of rum's ten largest markets - Cuba and the Dominican Republic - are set to grow over the coming five years, the heaviest deteriorations will be seen in high-volume, low-value markets. Germany is projected to be flat to 2021, and only "minor declines" are predicted for France, Spain and the UK. However, India will see a fall of more than 2m cases, while volumes in the Philippines are predicted to decline by 3.8m cases. Few of rum's other significant markets are projected to enjoy better fortunes, notably Brazil and Venezuela. In the meantime, Peru, Australia and Jamaica, are all projected to grow strongly over the forecast period.

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Major players in this market are Bacardi, Diageo, Pernod Ricard, Tanduay, Amrut Distilleries, Beam Suntory, Gruppo Campari, Matusalem, Mohan Meakin, Patron Spirits, Pusser's, Radico Khaitan, Ron Bermudez, Ron Edmundo Dantes etc.

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