Rum Market Valuable Growth Prospects and Insights on Future Scenario
The global rum market between 2018 and 2026. In a recently released report by the company, the global rum market is expected to register a CAGR of 2.2% during the forecast period.
[UKPRwire, Mon Nov 05 2018] Improved economic status in most regions, coupled with rising disposable income across the globe especially in developing economies are directing substantial lifestyle alterations. Growing millennial inclination towards recreational activities encompassing active nightlife and frequent pub visits lends impetus to alcohol consumption which reciprocates growth in rum market. A new business intelligence report by Market research Reports Search Engine (MRRSE) titled, ‘Global Market Study on Rum, Forecast: 2018–2026‘evaluates ongoing market advances and their corresponding implications on holistic growth of rum market.
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Premiumization Remains Imperative amongst Vendors Eying Growth in Rum Market
Leading manufacturers in rum market, to remain industry specific in their offerings are instrumenting disruptive alterations in the rum market such as introduction of new flavors syncing with fast evolving consumer expectations. Additionally, leading manufacturers are also introducing organic variants to entice larger consumer base, besides driving massive investments towards premiumization. Further, leading vendors in rum market are also diverting reasonable investments towards commercialization strategies and distribution network in order to attain prominence in the fast expanding rum market.
Bacardi Introduces New Premium Category Rum, Anejo Cuatro in Multiple Variants
One of the leading global rum providers, Bacardi Rum has recently introduced its latest variant under the brand name, Bacardi Anejo Cuatro. This latest addition is commercialized as a premium category rum which has been aged for a span of four years in favorable conditions to offer superior taste. Further, the product is also available in a host of popular flavors such as toasted oak, honey and clove, and vanilla. To retain competitive edge in the vast expanding rum market, this innovative, premium rum is expected to elevate Bacardi’s position amidst stiff competition.
White Rum Type Remains Chief Revenue Generator in Global Rum Market
This market study on rum is a deep-dive analysis on dominant market drivers, opportunities, and limitations that instill growth in rum market. A comprehensive study of these pertinent market details allows aspiring market participants as well as existing market players to deliver lucrative business models and investment decisions. Further in the course of the report readers are also presented with a clear understanding on prevalent market segments comprising nature, rum type, proof type, and distribution channel. On the basis of nature, global rum market is splintered into organic and conventional. In terms of rum type, global rum market is bifurcated into white, golden, dark, and spiced. Based on proof type, global rum market is classified into standard and over-proof.
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Liquor Shops and Hyper and Supermarkets: Dominant Distribution Channels in Global Rum Market
Based on distribution channel, global rum market is diversified into direct and indirect. Indirect segment is further sub-segregated into liquor shops, hypermarkets and supermarkets, and online retail.
Further, the report discusses regional expanse of global rum market, based on which the market is demarcated into Europe, North America, Latin America, and Asia-Pacific as core regional fringes in global rum market.
Competition Matrix: Global Rum Market
Thorough research findings etched in the report offers a detailed account of competition dashboard with a brief of leading market players operating in global rum market. The report also emphasizes winning marketing strategies embraced by leading market participants and their reciprocal impact in anchoring favorable market growth as well as end-user response in terms of their purchase preferences and subsequent purchase discretion. Some of the leading vendors in global rum market profiled in this section of the report include, Bacardi Limited, Diageo PLC, Lyon Distilling Co., Rhum Clement, Windward Spirits, and Suntory Holdings Limited amongst a host of others.
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