Report Northern America - Rum - Market Analysis, Forecast, Size, Trends and Insights for 499$
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Northern America - Rum - Market Analysis, Forecast, Size, Trends and Insights
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Northern America: Rum Market 2022

Rum Market Size in Northern America

The North American rum market totaled $X in 2021, picking up by 2.7% against the previous year. Overall, consumption showed a strong expansion. Over the period under review, the market attained the peak level in 2021 and is likely to continue growth in the immediate term.

Rum Production in Northern America

In value terms, rum production amounted to $X in 2021 estimated in export price. In general, production saw a prominent expansion. The most prominent rate of growth was recorded in 2018 when the production volume increased by 66%. The level of production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Rum Exports

Exports in Northern America

In 2021, overseas shipments of rum increased by 9% to X litres for the first time since 2018, thus ending a two-year declining trend. Overall, exports, however, showed a slight decrease. The pace of growth appeared the most rapid in 2015 with an increase of 35% against the previous year. As a result, the exports attained the peak of X litres. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, rum exports rose rapidly to $X in 2021. The total export value increased at an average annual rate of +1.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 with an increase of 29%. The level of export peaked in 2021 and is expected to retain growth in the near future.

Exports by Country

The United States dominates exports structure, reaching X litres, which was approx. 94% of total exports in 2021. Canada (X litres) and Bermuda (X litres) took a little share of total exports.

From 2012 to 2021, average annual rates of growth with regard to rum exports from the United States stood at -2.3%. At the same time, Canada (+6.3%) and Bermuda (+3.1%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing exporter exported in Northern America, with a CAGR of +6.3% from 2012-2021. While the share of Bermuda (+2.2 p.p.) and Canada (+1.9 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of the United States (-4.1 p.p.) displayed negative dynamics.

In value terms, the United States ($X) remains the largest rum supplier in Northern America, comprising 92% of total exports. The second position in the ranking was taken by Canada ($X), with a 6% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in the United States stood at +1.3%. The remaining exporting countries recorded the following average annual rates of exports growth: Canada (+14.6% per year) and Bermuda (+3.5% per year).

Export Prices by Country

The export price in Northern America stood at $X per litre in 2021, remaining relatively unchanged against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.8%. The pace of growth appeared the most rapid in 2020 an increase of 12%. Over the period under review, the export prices attained the peak figure in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Canada ($X per litre), while Bermuda ($X per litre) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+7.9%), while the other leaders experienced more modest paces of growth.

Rum Imports

Imports in Northern America

In 2021, overseas purchases of rum increased by 22% to X litres for the first time since 2017, thus ending a three-year declining trend. Overall, imports, however, recorded a mild shrinkage. Over the period under review, imports reached the peak figure at X litres in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, rum imports surged to $X in 2021. The total import value increased at an average annual rate of +3.4% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The United States (X litres) and Canada (X litres) dominates imports structure, together mixing up 98% of total imports. Bermuda (X litres) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Canada (with a CAGR of -0.7%), while imports for the other leaders experienced a decline in the imports figures.

In value terms, the United States ($X), Canada ($X) and Bermuda ($X) appeared to be the countries with the highest levels of imports in 2021, together comprising 100% of total imports.

The United States, with a CAGR of +5.9%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in Northern America stood at $X per litre in 2021, declining by -5.2% against the previous year. Import price indicated resilient growth from 2012 to 2021: its price increased at an average annual rate of +5.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 an increase of 25%. The level of import peaked at $X per litre in 2020, and then shrank in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+8.4%), 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 Northern America?
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The country with the largest volume of rum consumption was the United States, comprising approx. 85% of total volume. Moreover, rum consumption in the United States exceeded the figures recorded by the second-largest consumer, Canada, sixfold.
What are the largest producers of rum in Northern America?
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The country with the largest volume of rum production was the United States, comprising approx. 100% of total volume.
What are the leading suppliers of rum in Northern America?
+
In value terms, the United States remains the largest rum supplier in Northern America, comprising 92% of total exports. The second position in the ranking was held by Canada, with a 6% share of total exports.
What are the leading importers of rum in Northern America?
+
In value terms, the United States, Canada and Bermuda appeared to be the countries with the highest levels of imports in 2021, together comprising 100% of total imports.
What is the average export price for rum in Northern America?
+
In 2021, the export price in Northern America amounted to $4.6 per litre, approximately mirroring the previous year.
What is the average import price for rum in Northern America?
+
In 2021, the import price in Northern America amounted to $5.1 per litre, declining by -5.2% against the previous year.

This report provides an in-depth analysis of the rum market in Northern America. 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:
• Bermuda
• Greenland
• Saint Pierre and Miquelon

Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Production in Northern America, split by region and country
• Trade (exports and imports) in Northern America
• 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

• Bermuda
• Canada
• Greenland
• Saint Pierre and Miquelon
• United States
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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