Middle East And Africa Rum Market

Middle East and Africa Rum Market Growth and Forecast (2023 - 2028):

Middle East and Africa Rum Market was worth USD xx billion in 2022 and estimated to be growing at a CAGR of xx%, to reach USD xx billion by 2028.

Market Overview:

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.

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.

Region Analysis:

Geographically the Middle East and Africa Rum Market is segmented into KSA, UAE, Israel, rest of GCC countries, South Africa, Ethiopia, Kenya, Egypt, Sudan and Rest of MEA. It is last in terms of market share. In most countries it is prohibited.

Key Players in the Market:

Major Key Players in the MEA Rum 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