Home > > Global Craft Rum Market Report
The Craft Rum market was valued at $1,157.7 Million in 2022, and is projected to reach $2,423.7 Million by 2032 growing at a CAGR of 7.73% from 2023 to 2032.The craft rum market has been growing in recent years due to the increasing popularity of premium and artisanal spirits. Consumers are becoming more discerning and are willing to pay higher prices for craft rums that are made using traditional techniques and high-quality ingredients. This trend is being driven by the rise of cocktail culture and the desire for unique and authentic experiences. In addition, the increasing interest in sustainability and social responsibility is leading to a greater demand for craft rums that are produced using eco-friendly methods and that support local communities. Some of the top companies in the craft rum market include Privateer Rum, Blackbeard's Rum, and Don Q Rum. These companies have all made significant developments in recent years, including expanding their product lines, increasing their production capacity, and collaborating with other brands and retailers. Privateer Rum, for example, has received numerous accolades for its handcrafted rums and has been featured in prestigious publications such as Forbes and Wine Enthusiast. Blackbeard's Rum has also gained a reputation for its high-quality products and has launched a number of innovative marketing campaigns to promote its brand. Don Q Rum, on the other hand, has focused on expanding its distribution network and has formed partnerships with a number of major retailers and distributors.