"Rum Market Analysis, Forecast to 2028 | Key Players -Corporation Cuba Ron, Diageo PLC, etc."
Rum Market Highlights Rum is prepared by fermentation and distillation of molasses or juice of sugarcane. The global rum market accounted for USD 15.91 billion in 2018 and is expected to register a CAGR of 2.5% during the forecast period of 2019 to 2024. Rum has gained popularity owing to the increasing per capita disposable incomes, changing lifestyles in developing countries. However, increasing health concerns, availability of substitute products, and growing awareness regarding the negative impact of over-consumption of rum, and demand for non-alcoholic beverages have been restraining the growth of the market. Nevertheless, the consumer willingness to spend on new forms of entertainment like parties, pubs, lounges, and bars has opened new opportunities for the alcohol market. The introduction of various flavored rum and different rum brands have also contributed to the growth of the global rum market. Key Players Some of the key players in the global rum market a...