Summary

The South & Central America high-end rum market was valued at US$ 336.63 million in 2022 and is expected to reach US$ 468.57 million by 2030; it is estimated to record a CAGR of 4.2% from 2022 to 2030.

Growing Consumption of Flavored and Spiced Rum Fuels South & Central America 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.

South & Central America High-End Rum Market Overview

According to WHO, in Latin America and the Caribbean, total alcohol consumption per capita was 6.3 liters in 2018. The urban population has contributed significantly to alcohol consumption. The growing urban population in South & Central America has shifted consumer preferences toward premium spirits, including high-end rum owing to rising trend of premiumization. The trend of socializing and entertaining at home has risen from COVID-19 pandemic. To maintain their standards high, consumers stock luxury spirits such as high-end rum in their houses for celebrations and social gatherings. Thus, the demand for high-end rum is increasing across the region.

Moreover, according to the Organization for Economic Co-operation and Development (OECD), Brazil consumes almost 33% more spirits than other alcoholic beverages. The changes in taste and the growing demand for small-batch, handmade beverages with unique flavor profiles contribute to the growing demand for high-end craft rum across the region. Thus, riding premiumization and preference for flavored craft rum in the region expected to boost the market share for high-end rum.

South & Central America High-End Rum Market Revenue and Forecast to 2030 (US$ Million)

South & Central America High-End Rum Market Segmentation

The South & Central America high-end rum market is categorized into product type, category, nature, distribution channel, and country.

Based on product type, the South & Central America 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 South & Central America 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 South & Central America 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 South & Central America 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 South & Central America high-end rum market is segmented into Argentina, Brazil, Colombia, and the Rest of South & Central America. The Rest of South & Central America dominated the South & Central America 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 South & Central America high-end rum market.

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Table of Contents

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. South & Central America 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
4.4 List of Vendors
5. South & Central America 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 - South & Central America Market Analysis
6.1 High-End Rum Market Revenue (US$ Million), 2020-2030
6.2 High-End Rum Market Forecast Analysis
7. South & Central America 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. South & Central America 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. South & Central America 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. South & Central America 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. South & Central America High-End Rum Market - Country Analysis
11.1 South & Central America
11.1.1 South & Central America High-End Rum Market Overview
11.1.2 South & Central America High-End Rum Market Revenue and Forecasts and Analysis - By Countries
11.1.2.1 South & Central America High-End Rum Market Breakdown by Country
11.1.2.2 South and Central America: High-End Rum Market - Revenue and Forecast Analysis - by Country
11.1.2.3 Brazil High-End Rum Market Revenue and Forecasts to 2030 (US$ Million)
11.1.2.3.1 Brazil High-End Rum Market Breakdown by Product Type
11.1.2.3.2 Brazil High-End Rum Market Breakdown by Category
11.1.2.3.3 Brazil High-End Rum Market Breakdown by Nature
11.1.2.3.4 Brazil High-End Rum Market Breakdown by Distribution Channel
11.1.2.4 Argentina High-End Rum Market Revenue and Forecasts to 2030 (US$ Million)
11.1.2.4.1 Argentina High-End Rum Market Breakdown by Product Type
11.1.2.4.2 Argentina High-End Rum Market Breakdown by Category
11.1.2.4.3 Argentina High-End Rum Market Breakdown by Nature
11.1.2.4.4 Argentina High-End Rum Market Breakdown by Distribution Channel
11.1.2.5 Colombia High-End Rum Market Revenue and Forecasts to 2030 (US$ Million)
11.1.2.5.1 Colombia High-End Rum Market Breakdown by Product Type
11.1.2.5.2 Colombia High-End Rum Market Breakdown by Category
11.1.2.5.3 Colombia High-End Rum Market Breakdown by Nature
11.1.2.5.4 Colombia High-End Rum Market Breakdown by Distribution Channel
11.1.2.6 Rest of South & Central America High-End Rum Market Revenue and Forecasts to 2030 (US$ Million)
11.1.2.6.1 Rest of South & Central America High-End Rum Market Breakdown by Product Type
11.1.2.6.2 Rest of South & Central America High-End Rum Market Breakdown by Category
11.1.2.6.3 Rest of South & Central America High-End Rum Market Breakdown by Nature
11.1.2.6.4 Rest of South & Central America 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 Diageo Plc
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 Davide Campari Milano NV
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 Brown-Forman Corp
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