Global Rum Market 2018-2022
Rum is a distilled alcoholic drink and is prepared from sugarcane byproducts like molasses or directly from sugarcane juice by fermentation and distillation.
Technavio’s analysts forecast the Global Rum Market to grow at a CAGR of 1.91% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global rum market. To calculate the market size, the report considers the revenue generated from the sales of rum.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Rum Market 2018-2022
Technavio recognizes the following companies as the key players in the global rum market: Bacardi, Diageo, LT Group, Pernod Ricard, and Ron Barceló.
Commenting on the report, an analyst from Technavio’s team said: “One trend affecting this market is the mergers and acquisitions.” Increasing M&As in the market is one of the popular strategies that players use to acquire market share.
According to the report, one driver influencing this market is the new product launches. Over the past few years, the global rum market has witnessed a rise in the number of product launches.
Further, the report states that one challenge affecting this market is the stringent regulations. Players operating in the market face issues in complying with the global as well as country-specific rules and regulations imposed by various governments and advertisement authorities.
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