Asia-Pacific: Rum Market 2024

Rum Market Size in Asia-Pacific

The Asia-Pacific rum market dropped slightly to $X in 2022, flattening at the previous year. The total consumption indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2020 indices. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Rum Production in Asia-Pacific

In value terms, rum production fell to $X in 2022 estimated in export price. The total production indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The growth pace was the most rapid in 2013 when the production volume increased by X%. Over the period under review, production reached the peak level at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

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Rum Exports

Exports in Asia-Pacific

In 2022, approx. X litres of rum were exported in Asia-Pacific; increasing by X% against 2021. Overall, exports recorded a strong increase. The pace of growth was the most pronounced in 2019 when exports increased by X%. The volume of export peaked in 2022 and is likely to see steady growth in the near future.

In value terms, rum exports surged to $X in 2022. Total exports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2019 with an increase of X%. The level of export peaked in 2022 and is likely to continue growth in the immediate term.

Exports by Country

India was the key exporter of rum in Asia-Pacific, with the volume of exports reaching X litres, which was approx. X% of total exports in 2022. The Philippines (X litres) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Singapore (X%) and Australia (X%).

From 2012 to 2022, average annual rates of growth with regard to rum exports from India stood at X%. At the same time, the Philippines (X%) and Australia (X%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of X% from 2012-2022. By contrast, Singapore (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of India and the Philippines increased by X and X percentage points, respectively.

In value terms, India ($X), the Philippines ($X) and Singapore ($X) appeared to be the countries with the highest levels of exports in 2022, together comprising X% of total exports.

The Philippines, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Asia-Pacific stood at $X per litre in 2022, jumping by X% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the export price increased by X%. The level of export peaked at $X per litre in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Singapore ($X per litre), while India ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (X%), while the other leaders experienced more modest paces of growth.

Rum Imports

Imports in Asia-Pacific

In 2022, purchases abroad of rum increased by X% to X litres for the first time since 2016, thus ending a five-year declining trend. Overall, imports, however, saw a pronounced descent. Over the period under review, imports attained the maximum at X litres in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, rum imports expanded markedly to $X in 2022. Over the period under review, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of X%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

Imports by Country

The purchases of the five major importers of rum, namely Australia, China, Japan, Singapore and New Zealand, represented more than two-thirds of total import. It was distantly followed by South Korea (X litres), creating a X% share of total imports. The Philippines (X litres), Taiwan (Chinese) (X litres), India (X litres), Thailand (X litres), Malaysia (X litres) and Maldives (X litres) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Maldives (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest rum importing markets in Asia-Pacific were Australia ($X), Singapore ($X) and Japan ($X), together accounting for X% of total imports. New Zealand, China, Taiwan (Chinese), India, Malaysia, South Korea, Thailand, the Philippines and Maldives lagged somewhat behind, together accounting for a further X%.

Taiwan (Chinese), with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia-Pacific stood at $X per litre in 2022, falling by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The growth pace was the most rapid in 2017 an increase of X% against the previous year. Over the period under review, import prices hit record highs at $X per litre in 2021, and then shrank in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was India ($X per litre), while the Philippines ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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