Asia Pacific High-End Rum Market Forecast to 2030 - Regional Analysis - by Product Type (White, Dark, and Gold), Category (Super Premium, Ultra-Premium, and Prestige & Prestige Plus), Nature (Plain and Flavored), and Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, and Others)
The Asia Pacific high-end rum market was valued at US$ 649.70 million in 2022 and is expected to reach US$ 968.68 million by 2030; it is estimated to record a CAGR of 5.1% from 2022 to 2030.
Growing Consumption of Flavored and Spiced Rum Boosts Asia Pacific High-End Rum Market
The population worldwide is more inclined toward consuming crafted flavored spirits and blends than traditional mass-produced spirits. Nowadays, consumers are looking for high-quality products with distinct flavors. Above all, the popularity of spiced rum and flavored spirits is increasing among young adults. Flavored rum offers a unique flavor to cocktails and rum cakes. Moreover, spiced rum is commonly consumed with Coca-Cola. Companies including Bacardi, Captain Morgan, and Altitude Spirits have introduced mix-flavored spirits in their product portfolio, which are popular brands of flavored rum globally. Spiced and flavored rum, such as Diageo's Captain Morgan spiced rum, which has a unique caramel and vanilla flavor is one of the most popular spiced rums globally.
In March 2023, the Kraken Rum-the renowned black spiced rum brand-expanded its product portfolio by venturing into the gold spiced rum category with the launch of a new product called "The Kraken Gold Spiced Rum." This product is aged for two years in oak barrels and has cinnamon, vanilla, and caramel notes. It is bottled at 40% ABV. Such product launches fuel the consumption of flavored and spiced rum, creating a huge opportunity for the growth of the high-end rum market.
Asia Pacific High-End Rum Market Overview
Consumers in Asia Pacific are increasingly seeking premium and high-quality rum with unique flavors, leading to the emergence of craft and artisanal offerings in the market. According to International Wine & Spirit Research (IWSR) data, China accounted for a fifth of worldwide alcohol volume consumption in 2021. India and the Philippines are the major rum-producing and consuming countries across Asia Pacific. According to the Company's report, in 2021, Bacardi showed a 30% increase in its rum sales in India. Moreover, consumers who want novel experiences in rum consumption and seek distinctive flavors in rum prefer to consume premium rums. Changing lifestyle, rising trend of rum premiumization, and adoption of western culture boost the demand for high-end rum in the region.
Expanding experiential liquor retail in India, Japan, Australia, and other Asian countries will boost sales from the off-trade channels. Local and international brands have launched experiential liquor retail outlets in metros and cities with larger capacities to increase the sales of liquor products such as rum and whisky. For instance, in February 2022, Living Liquidz opened "Mansionz," a luxury lifestyle experiential liquor store in Bangalore, India. The first-of-its-kind premium experiential liquor store with a New York-style tasting room provides visitors with an enhanced experience. Such stores will boost the sales of high-end rum and other spirits through the off-trade channel. Thus, these factors fuel the demand for high-end rum, thereby driving the market growth during the forecast period.
Asia Pacific High-End Rum Market Revenue and Forecast to 2030 (US$ Million)
Asia Pacific High-End Rum Market Segmentation
The Asia Pacific high-end rum market is categorized into product type, category, nature, distribution channel, and country.
Based on product type, the Asia Pacific high-end rum market is categorized into white, dark, and gold. The gold segment held the largest market share in 2022.
In terms of category, the Asia Pacific high-end rum market is segmented into super premium, ultra-premium, and prestige & prestige plus. The super premium segment held the largest market share in 2022.
By nature, the Asia Pacific high-end rum market is bifurcated into plain and flavored. The plain segment held a larger market share in 2022.
In terms of distribution channel, the Asia Pacific high-end rum market is categorized into supermarkets and hypermarkets, specialty stores, online retail, and others. The specialty stores segment held the largest market share in 2022.
By country, the Asia Pacific high-end rum market is segmented into the Australia, China, India, Japan, South Korea, New Zealand, and the Rest of Asia Pacific. The Rest of Asia Pacific dominated the Asia Pacific high-end rum market share in 2022.
Pernod Ricard SA, Davide Campari Milano NV, Brown Forman Corp, and Diageo Plc are some of the leading companies operating in the Asia Pacific high-end rum market.
TABLE OF CONTENTS
1. Introduction
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Market Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
3.4 Limitations and Assumptions
4. High-End Rum Market Landscape
4.1 Overview
4.2 Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Competitive Rivalry
4.2.5 Threat of Substitutes
4.3 Ecosystem Analysis
4.3.1 Raw Material Suppliers
4.3.2 Manufacturing Processes
4.3.2.1 Fermentation
4.3.2.2 Distillation
4.3.2.3 Aging/Maturation
4.3.2.4 Blending
4.3.2.5 Bottling
4.3.3 Distribution Channels
5. Asia Pacific High-End Rum Market - Key Market Dynamics
5.1 High-End Rum Market - Key Market Dynamics
5.2 Market Drivers
5.2.1 Rum Premiumization
5.2.2 Strategic Initiatives by Key Players
5.3 Market Restraints
5.3.1 Increasing Demand for Low-alcoholic Beverages
5.4 Market Opportunities
5.4.1 Growing Consumption of Flavored and Spiced Rum
5.4.2 Rising Sales through E-commerce Platforms
5.5 Future Trends
5.5.1 Rising Trend of Homemade Cocktail Among Consumers
5.6 Impact of Drivers and Restraints:
6. High-End Rum Market - Asia Pacific Market Analysis
6.1 High-End Rum Market Revenue (US$ Million), 2020-2030
6.2 High-End Rum Market Forecast Analysis
7. Asia Pacific High-End Rum Market Analysis - By Product Type
7.1 Overview
7.2 White
7.2.1 Overview
7.2.2 White: High-End Rum Market Revenue and Forecast to 2030 (US$ Million)
7.3 Dark
7.3.1 Overview
7.3.2 Dark: High-End Rum Market Revenue and Forecast to 2030 (US$ Million)
7.4 Gold
7.4.1 Overview
7.4.2 Gold: High-End Rum Market Revenue and Forecast to 2030 (US$ Million)
8. Asia Pacific High-End Rum Market Revenue Analysis - By Category
8.1 Overview
8.2 Super Premium
8.2.1 Overview
8.2.2 Super Premium: High-End Rum Market Revenue and Forecast to 2030 (US$ Million)
8.3 Ultra Premium
8.3.1 Overview
8.3.2 Ultra Premium: High-End Rum Market Revenue and Forecast to 2030 (US$ Million)
8.4 Prestige & Prestige Plus
8.4.1 Overview
8.4.2 Prestige & Prestige Plus: High-End Rum Market Revenue and Forecast to 2030 (US$ Million)
9. Asia Pacific High-End Rum Market Revenue Analysis - By Nature
9.1 Overview
9.2 Plain
9.2.1 Overview
9.2.2 Plain: High-End Rum Market Revenue and Forecast to 2030 (US$ Million)
9.3 Flavored
9.3.1 Overview
9.3.2 Flavored: High-End Rum Market Revenue and Forecast to 2030 (US$ Million)
10. Asia Pacific High-End Rum Market Revenue Analysis - By Distribution Channel
10.1 Overview
10.2 Supermarkets and Hypermarkets
10.2.1 Overview
10.2.2 Supermarkets and Hypermarkets: High-End Rum Market Revenue and Forecast to 2030 (US$ Million)
10.3 Specialty Stores
10.3.1 Overview
10.3.2 Specialty Stores: High-End Rum Market Revenue and Forecast to 2030 (US$ Million)
10.4 Online Retail
10.4.1 Overview
10.4.2 Online Retail: High-End Rum Market Revenue and Forecast to 2030 (US$ Million)
10.5 Others
10.5.1 Overview
10.5.2 Others: High-End Rum Market Revenue and Forecast to 2030 (US$ Million)
11. Asia Pacific High-End Rum Market - Country Analysis
11.1 Asia Pacific
11.1.1 Asia Pacific High-End Rum Market Overview
11.1.2 Asia Pacific High-End Rum Market Revenue and Forecasts and Analysis - By Countries
11.1.2.1 Asia Pacific High-End Rum Market Breakdown by Country
11.1.2.2 Asia Pacific: High-End Rum Market - Revenue and Forecast Analysis - by Country
11.1.2.3 Australia High-End Rum Market Revenue and Forecasts to 2030 (US$ Million)
11.1.2.3.1 Australia High-End Rum Market Breakdown by Product Type
11.1.2.3.2 Australia High-End Rum Market Breakdown by Category
11.1.2.3.3 Australia High-End Rum Market Breakdown by Nature
11.1.2.3.4 Australia High-End Rum Market Breakdown by Distribution Channel
11.1.2.4 China High-End Rum Market Revenue and Forecasts to 2030 (US$ Million)
11.1.2.4.1 China High-End Rum Market Breakdown by Product Type
11.1.2.4.2 China High-End Rum Market Breakdown by Category
11.1.2.4.3 China High-End Rum Market Breakdown by Nature
11.1.2.4.4 China High-End Rum Market Breakdown by Distribution Channel
11.1.2.5 India High-End Rum Market Revenue and Forecasts to 2030 (US$ Million)
11.1.2.5.1 India High-End Rum Market Breakdown by Product Type
11.1.2.5.2 India High-End Rum Market Breakdown by Category
11.1.2.5.3 India High-End Rum Market Breakdown by Nature
11.1.2.5.4 India High-End Rum Market Breakdown by Distribution Channel
11.1.2.6 Japan High-End Rum Market Revenue and Forecasts to 2030 (US$ Million)
11.1.2.6.1 Japan High-End Rum Market Breakdown by Product Type
11.1.2.6.2 Japan High-End Rum Market Breakdown by Category
11.1.2.6.3 Japan High-End Rum Market Breakdown by Nature
11.1.2.6.4 Japan High-End Rum Market Breakdown by Distribution Channel
11.1.2.7 South Korea High-End Rum Market Revenue and Forecasts to 2030 (US$ Million)
11.1.2.7.1 South Korea High-End Rum Market Breakdown by Product Type
11.1.2.7.2 South Korea High-End Rum Market Breakdown by Category
11.1.2.7.3 South Korea High-End Rum Market Breakdown by Nature
11.1.2.7.4 South Korea High-End Rum Market Breakdown by Distribution Channel
11.1.2.8 New Zealand High-End Rum Market Revenue and Forecasts to 2030 (US$ Million)
11.1.2.8.1 New Zealand High-End Rum Market Breakdown by Product Type
11.1.2.8.2 New Zealand High-End Rum Market Breakdown by Category
11.1.2.8.3 New Zealand High-End Rum Market Breakdown by Nature
11.1.2.8.4 New Zealand High-End Rum Market Breakdown by Distribution Channel
11.1.2.9 Rest of Asia Pacific High-End Rum Market Revenue and Forecasts to 2030 (US$ Million)
11.1.2.9.1 Rest of Asia Pacific High-End Rum Market Breakdown by Product Type
11.1.2.9.2 Rest of Asia Pacific High-End Rum Market Breakdown by Category
11.1.2.9.3 Rest of Asia Pacific High-End Rum Market Breakdown by Nature
11.1.2.9.4 Rest of Asia Pacific High-End Rum Market Breakdown by Distribution Channel
12. Industry Landscape: High-End Rum Market
12.1 Overview
12.2 Partnership
12.3 Product News
12.4 Collaboration
12.5 Joint Venture
12.6 Merger and Acquisitions
13. Company Profiles
13.1 Pernod Ricard SA
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Davide Campari Milano NV
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Brown-Forman Corp
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Diageo Plc
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
14. Appendix
List of Tables
Table 1. High-End Rum Market Segmentation
Table 2. High-End Rum Market - Revenue and Forecast to 2030 (US$ Million)
Table 3. Asia Pacific High-End Rum Market Revenue and Forecasts to 2030 (US$ Million) - By Product Type
Table 4. High-End Rum Market Revenue and Forecasts to 2030 (US$ Million) - By Category
Table 5. High-End Rum Market Revenue and Forecasts to 2030 (US$ Million) - By Nature
Table 6. High-End Rum Market Revenue and Forecasts to 2030 (US$ Million) - By Distribution Channel
Table 7. Asia Pacific: High-End Rum Market - Revenue and Forecast to 2030(US$ Million) - by Country
Table 8. Australia High-End Rum Market Revenue and Forecasts to 2030 (US$ Million) - By Product Type
Table 9. Australia High-End Rum Market Revenue and Forecasts to 2030 (US$ Million) - By Category
Table 10. Australia High-End Rum Market Revenue and Forecasts to 2030 (US$ Million) - By Nature
Table 11. Australia High-End Rum Market Revenue and Forecasts to 2030 (US$ Million) - By Distribution Channel
Table 12. China High-End Rum Market Revenue and Forecasts to 2030 (US$ Million) - By Product Type
Table 13. China High-End Rum Market Revenue and Forecasts to 2030 (US$ Million) - By Category
Table 14. China High-End Rum Market Revenue and Forecasts to 2030 (US$ Million) - By Nature
Table 15. China High-End Rum Market Revenue and Forecasts to 2030 (US$ Million) - By Distribution Channel
Table 16. India High-End Rum Market Revenue and Forecasts to 2030 (US$ Million) - By Product Type
Table 17. India High-End Rum Market Revenue and Forecasts to 2030 (US$ Million) - By Category
Table 18. India High-End Rum Market Revenue and Forecasts to 2030 (US$ Million) - By Nature
Table 19. India High-End Rum Market Revenue and Forecasts to 2030 (US$ Million) - By Distribution Channel
Table 20. Japan High-End Rum Market Revenue and Forecasts to 2030 (US$ Million) - By Product Type
Table 21. Japan High-End Rum Market Revenue and Forecasts to 2030 (US$ Million) - By Category
Table 22. Japan High-End Rum Market Revenue and Forecasts to 2030 (US$ Million) - By Nature
Table 23. Japan High-End Rum Market Revenue and Forecasts to 2030 (US$ Million) - By Distribution Channel
Table 24. South Korea High-End Rum Market Revenue and Forecasts to 2030 (US$ Million) - By Product Type
Table 25. South Korea High-End Rum Market Revenue and Forecasts to 2030 (US$ Million) - By Category
Table 26. South Korea High-End Rum Market Revenue and Forecasts to 2030 (US$ Million) - By Nature
Table 27. South Korea High-End Rum Market Revenue and Forecasts to 2030 (US$ Million) - By Distribution Channel
Table 28. New Zealand High-End Rum Market Revenue and Forecasts to 2030 (US$ Million) - By Product Type
Table 29. New Zealand High-End Rum Market Revenue and Forecasts to 2030 (US$ Million) - By Category
Table 30. New Zealand High-End Rum Market Revenue and Forecasts to 2030 (US$ Million) - By Nature
Table 31. New Zealand High-End Rum Market Revenue and Forecasts to 2030 (US$ Million) - By Distribution Channel
Table 32. Rest of Asia Pacific High-End Rum Market Revenue and Forecasts to 2030 (US$ Million) - By Product Type
Table 33. Rest of Asia Pacific High-End Rum Market Revenue and Forecasts to 2030 (US$ Million) - By Category
Table 34. Rest of Asia Pacific High-End Rum Market Revenue and Forecasts to 2030 (US$ Million) - By Nature
Table 35. Rest of Asia Pacific High-End Rum Market Revenue and Forecasts to 2030 (US$ Million) - By Distribution Channel
List of Figures
Figure 1. High-End Rum Market Segmentation, by Country
Figure 2. Porter's Five Forces Analysis: High-End Rum Market
Figure 3. Ecosystem: High-End Rum Market
Figure 4. Impact Analysis of Drivers and Restraints
Figure 5. High-End Rum Market Revenue (US$ Million), 2020-2030
Figure 6. High-End Rum Market Share (%) - By Product Type, 2022 and 2030
Figure 7. White: High-End Rum Market Revenue and Forecast to 2030 (US$ Million)
Figure 8. Dark: High-End Rum Market Revenue and Forecast to 2030 (US$ Million)
Figure 9. Gold: High-End Rum Market Revenue and Forecast to 2030 (US$ Million)
Figure 10. High-End Rum Market Revenue Share, By Category (2022 and 2030)
Figure 11. Super Premium: High-End Rum Market Revenue and Forecast to 2030 (US$ Million)
Figure 12. Ultra Premium: High-End Rum Market Revenue and Forecast to 2030 (US$ Million)
Figure 13. Prestige & Prestige Plus: High-End Rum Market Revenue and Forecast to 2030 (US$ Million)
Figure 14. High-End Rum Market Revenue Share, By Nature (2022 and 2030)
Figure 15. Plain: High-End Rum Market Revenue and Forecast to 2030 (US$ Million)
Figure 16. Flavored: High-End Rum Market Revenue and Forecast to 2030 (US$ Million)
Figure 17. High-End Rum Market Revenue Share, By Distribution Channel (2022 and 2030)
Figure 18. Supermarkets and Hypermarkets: High-End Rum Market Revenue and Forecast to 2030 (US$ Million)
Figure 19. Specialty Stores: High-End Rum Market Revenue and Forecast to 2030 (US$ Million)
Figure 20. Online Retail: High-End Rum Market Revenue and Forecast to 2030 (US$ Million)
Figure 21. Others: High-End Rum Market Revenue and Forecast to 2030 (US$ Million)
Figure 22. Asia Pacific High-End Rum Market, by Country - Revenue (2022) (US$ Million)
Figure 23. Asia Pacific High-End Rum Market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 24. Australia High-End Rum Market Revenue and Forecasts to 2030 (US$ Million)
Figure 25. China High-End Rum Market Revenue and Forecasts to 2030 (US$ Million)
Figure 26. India High-End Rum Market Revenue and Forecasts to 2030 (US$ Million)
Figure 27. Japan High-End Rum Market Revenue and Forecasts to 2030 (US$ Million)
Figure 28. South Korea High-End Rum Market Revenue and Forecasts to 2030 (US$ Million)
Figure 29. New Zealand High-End Rum Market Revenue and Forecasts to 2030 (US$ Million)
Figure 30. Rest of Asia Pacific High-End Rum Market Revenue and Forecasts to 2030 (US$ Million)
1. Pernod Ricard SA
2. Davide Campari Milano NV
3. Brown forman corp
4. Diageo Plc
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Asia Pacific high end rum market.
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the Asia Pacific high end rum market, thereby allowing players across the value chain to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth Asia Pacific market trends and outlook coupled with the factors driving the Asia Pacific high end rum market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution.