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Latin America and the Caribbean - Rum - Market Analysis, Forecast, Size, Trends and Insights
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Latin America and the Caribbean: Rum Market 2022

Rum Market Size in Latin America and the Caribbean

In 2021, after four years of growth, there was decline in the Latin American rum market, when its value decreased by -3.9% to $X. The market value increased at an average annual rate of +2.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2020, and then fell modestly in the following year.

Rum Production in Latin America and the Caribbean

In value terms, rum production reached $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.5% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2019 when the production volume increased by 12% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2021, production growth failed to regain momentum.

Rum Exports

Exports in Latin America and the Caribbean

In 2021, the amount of rum exported in Latin America and the Caribbean rose rapidly to X litres, increasing by 14% against 2020 figures. In general, exports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when exports increased by 15%. The volume of export peaked at X litres in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, rum exports totaled $X in 2021. Over the period under review, exports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of 11%. Over the period under review, the exports reached the peak figure at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The Dominican Republic (X litres), Cuba (X litres), Guatemala (X litres), Jamaica (X litres), Trinidad and Tobago (X litres), Venezuela (X litres), Nicaragua (X litres), Brazil (X litres) and Panama (X litres) represented roughly 96% of total exports in 2021.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by the Dominican Republic (with a CAGR of +7.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest rum supplying countries in Latin America and the Caribbean were the Dominican Republic ($X), Cuba ($X) and Venezuela ($X), with a combined 53% share of total exports.

Venezuela, with a CAGR of +7.5%, saw the highest growth rate of the value of exports, in terms of 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

In 2021, the export price in Latin America and the Caribbean amounted to $X per litre, dropping by -6.3% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 7.1% against the previous year. Over the period under review, the export prices reached the maximum at $X per litre in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Venezuela ($X per litre), while Brazil ($X per litre) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Venezuela (+8.5%), while the other leaders experienced more modest paces of growth.

Rum Imports

Imports in Latin America and the Caribbean

In 2021, after two years of decline, there was significant growth in supplies from abroad of rum, when their volume increased by 16% to X litres. In general, imports, however, saw a pronounced contraction. The volume of import peaked at X litres in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, rum imports rose remarkably to $X in 2021. Overall, imports, however, showed a perceptible downturn. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Colombia (X litres), El Salvador (X litres), Chile (X litres), Honduras (X litres), Peru (X litres), Costa Rica (X litres) and Bolivia (X litres) represented the largest importer of rum in Latin America and the Caribbean, generating 70% of total import. Paraguay (X litres), the Dominican Republic (X litres), Argentina (X litres), Panama (X litres), Mexico (X litres) and Suriname (X litres) held a little share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Paraguay (with a CAGR of +15.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest rum importing markets in Latin America and the Caribbean were Chile ($X), Peru ($X) and Colombia ($X), with a combined 35% share of total imports. El Salvador, Costa Rica, Bolivia, Honduras, Panama, the Dominican Republic, Argentina, Suriname, Mexico and Paraguay lagged somewhat behind, together comprising a further 45%.

The Dominican Republic, with a CAGR of +11.1%, recorded 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

In 2021, the import price in Latin America and the Caribbean amounted to $X per litre, dropping by -2.6% against the previous year. Over the period under review, the import price saw a mild setback. The pace of growth appeared the most rapid in 2019 when the import price increased by 9.8%. Over the period under review, import prices reached the peak figure at $X per litre in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Panama ($X per litre), while Paraguay ($X per litre) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Costa Rica (+5.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

Base Year Historical Period Forecast Period Units
2021 2007-2021 2022-2030 US$, Tons

Frequently Asked Questions (FAQ) :

What are the largest markets for rum in LatAmerica and the Caribbean?
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The countries with the highest volumes of consumption in 2021 were Brazil, Mexico and Colombia, with a combined 59% share of total consumption. Venezuela, Cuba, El Salvador, the Dominican Republic, Chile, Honduras, Bolivia, Peru, Nicaragua and Paraguay lagged somewhat behind, together accounting for a further 31%.
What are the largest producers of rum in LatAmerica and the Caribbean?
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The countries with the highest volumes of production in 2021 were Brazil, the Dominican Republic and Cuba, with a combined 48% share of total production.
What are the leading exporters of rum in LatAmerica and the Caribbean?
+
In value terms, the Dominican Republic, Cuba and Venezuela were the countries with the highest levels of exports in 2021, with a combined 53% share of total exports.
What are the leading importers of rum in LatAmerica and the Caribbean?
+
In value terms, Chile, Peru and Colombia were the countries with the highest levels of imports in 2021, together accounting for 35% of total imports. These countries were followed by El Salvador, Costa Rica, Bolivia, Honduras, Panama, the Dominican Republic, Argentina, Suriname, Mexico and Paraguay, which together accounted for a further 45%.
What is the average export price for rum in LatAmerica and the Caribbean?
+
The export price in Latin America and the Caribbean stood at $3.1 per litre in 2021, waning by -6.3% against the previous year.
What is the average import price for rum in LatAmerica and the Caribbean?
+
The import price in Latin America and the Caribbean stood at $2.3 per litre in 2021, reducing by -2.6% against the previous year.

This report provides an in-depth analysis of the rum market in Latin America and the Caribbean. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.


Product coverage:
• Prodcom 11011040 - Rum and other spirits obtained by distilling fermented sugarcane products (important: excluding alcohol duty)
Country coverage:
• Anguilla
• Antigua and Barbuda
• Aruba
• Bahamas
• Barbados
• Belize
• Bolivia
• British Virgin Islands
• Cayman Islands
• Costa Rica
• Curacao
• El Salvador
• Falkland Islands (Malvinas)
• French Guiana
• Grenada
• Guadeloupe
• Guatemala
• Guyana
• Haiti
• Honduras
• Jamaica
• Martinique
• Montserrat
• Nicaragua
• Panama
• Paraguay
• Saint Kitts and Nevis
• Saint Lucia
• Saint Maarten (Dutch part)
• Saint Vincent and the Grenadines
• Suriname
• Trinidad and Tobago
• Turks and Caicos Islands
• United States Virgin Islands

Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Production in Latin America and the Caribbean, split by region and country
• Trade (exports and imports) in Latin America and the Caribbean
• Export and import prices
• Market trends, drivers and restraints
• Key market players and their profiles

Reasons to buy this report:
• Take advantage of the latest data
• Find deeper insights into current market developments
• Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
REPORT DESCRIPTION
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
CONSUMPTION BY COUNTRY
3.3
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
7.2
PRODUCTION BY COUNTRY
8. IMPORTS

The Largest Importers on The Market and How They Succeed

8.1
IMPORTS FROM 2012–2021
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Exporters on The Market and How They Succeed

9.1
EXPORTS FROM 2012–2021
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

11. COUNTRY PROFILES

The Largest Markets And Their Profiles

• Anguilla
• Antigua and Barbuda
• Argentina
• Aruba
• Bahamas
• Barbados
• Belize
• Bolivia
• Brazil
• British Virgin Islands
• Cayman Islands
• Chile
• Colombia
• Costa Rica
• Cuba
• Curacao
• Dominica
• Dominican Republic
• Ecuador
• El Salvador
• Falkland Islands (Malvinas)
• French Guiana
• Grenada
• Guadeloupe
• Guatemala
• Guyana
• Haiti
• Honduras
• Jamaica
• Martinique
• Mexico
• Montserrat
• Nicaragua
• Panama
• Paraguay
• Peru
• Saint Kitts and Nevis
• Saint Lucia
• Saint Vincent and the Grenadines
• Saint Maarten (Dutch part)
• Suriname
• Trinidad and Tobago
• Turks and Caicos Islands
• United States Virgin Islands
• Uruguay
• Venezuela
• Puerto Rico
LIST OF TABLES
Table 1:
Key Findings In 2021
Table 2:
Market Volume, In Physical Terms, 2012–2021
Table 3:
Market Value, 2012–2021
Table 4:
Per Capita Consumption, By Country, 2018–2021
Table 5:
Production, In Physical Terms, By Country, 2012–2021
Table 6:
Imports, In Physical Terms, By Country, 2012–2021
Table 7:
Imports, In Value Terms, By Country, 2012–2021
Table 8:
Import Prices, By Country Of Destination, 2012–2021
Table 9:
Exports, In Physical Terms, By Country, 2012–2021
Table 10:
Exports, In Value Terms, By Country, 2012–2021
Table 11:
Export Prices, By Country Of Origin, 2012–2021
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2012–2021
Figure 2:
Market Value, 2012–2021
Figure 3:
Consumption, By Country, 2021
Figure 4:
Market Forecast To 2030
Figure 5:
Products: Market Size And Growth, By Type
Figure 6:
Products: Average Per Capita Consumption, By Type
Figure 7:
Products: Exports And Growth, By Type
Figure 8:
Products: Export Prices And Growth, By Type
Figure 9:
Production Volume And Growth
Figure 10:
Exports And Growth
Figure 11:
Export Prices And Growth
Figure 12:
Market Size And Growth
Figure 13:
Per Capita Consumption
Figure 14:
Imports And Growth
Figure 15:
Import Prices
Figure 16:
Production, In Physical Terms, 2012–2021
Figure 17:
Production, In Value Terms, 2012–2021
Figure 18:
Production, By Country, 2021
Figure 19:
Production, In Physical Terms, By Country, 2012–2021
Figure 20:
Imports, In Physical Terms, 2012–2021
Figure 21:
Imports, In Value Terms, 2012–2021
Figure 22:
Imports, In Physical Terms, By Country, 2021
Figure 23:
Imports, In Physical Terms, By Country, 2012–2021
Figure 24:
Imports, In Value Terms, By Country, 2012–2021
Figure 25:
Import Prices, By Country, 2012–2021
Figure 26:
Exports, In Physical Terms, 2012–2021
Figure 27:
Exports, In Value Terms, 2012–2021
Figure 28:
Exports, In Physical Terms, By Country, 2021
Figure 29:
Exports, In Physical Terms, By Country, 2012–2021
Figure 30:
Exports, In Value Terms, By Country, 2012–2021
Figure 31:
Export Prices, 2012–2021
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