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Middle East & Africa High-End Rum Market Forecast to 2030
Middle East & Africa High-End Rum Market Forecast to 2030 – Regional Analysis – by Product Type (White, Dark, and Gold), Category (Super Premium, Ultra-Premium, and Prestige & Prestige Plus), Nature (Plain and Flavored), and Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, and Others)
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Description
Rising Trend of Homemade Cocktail Among Consumers Bolsters Middle East & Africa High-End Rum Market
Post COVID-19 pandemic, consumer’s preference for at-home alcohol consumption has increased. The trend of at-home drinking is strongest in Western regions owing to the number of factors including the macroeconomic climate and cultural attitudes towards drinking. According to consumer research conducted by the IWSR in April 2023, approximately 60% of consumers across North America, Middle East & Africa, Australia, and South Africa all report to be going out less. Thus, the preference for cocktail making at home is also increasing among consumers.
To maintain the status and prestige, consumers stock high-end rums in their homes and offers high-end rum cocktails in celebrations and house parties. Thus, high-end rums act as a major ingredient in many popular cocktails such as Daiquiris, Mojitos, and Piña Coladas. These cocktails are enjoyed by consumers across the globe, and their popularity is driving the demand for high-end rum. The availability of a wide variety of flavors in rum gives a distinct aroma and flavor to the cocktail, contributing to its growing popularity. The rise of cocktail culture, driven by consumer interest in mixology and craft cocktails, has significantly boosted the demand for high-end rum.
Moreover, young consumers are more likely to explore and seek out distinctive and trendy alcoholic beverages, including rum-based cocktails. The growing influence of this demographic within these establishments further contributes to the growth of the high-end rum industry. Thus, the rising trend of homemade cocktail across the globe is expected to create new trends in the high-end rum market.
Middle East & Africa High-End Rum Market Overview
The Middle East & Africa is experiencing significant growth in the high-end rum market owing to the growing young population and increasing social media influence. Social media and global trends increasingly influence the young population in the region. According to the Organization for Economic Co-operation and Development (OECD), in 2021, young people under the age of 30 contributed to more than 55% of the population across the Middle East & Africa. The high-end rum brands effectively used social media platforms to showcase the luxury associated with high-end rums. Thus, social media’s influence on the young generation fuels the high-end rum market in the region. Alcohol consumption has been among the most important leisure activities in many African societies. As per the World Population Review Report in 2022, South African alcohol consumers are among the heaviest drinkers globally and consume 9.45 liters of alcohol per person in a year. Thus, such a high rate of alcohol consumption and adoption of luxurious spirits in the region boosts the demand for high-end rum.
However, drink brands often overlook the Middle East & Africa due to its religious, social, and political outlook. Alcohol is completely prohibited in several parts of the region, such as Saudi Arabia, Kuwait, Yemen, Iran, and the Emirate of Sharjah. In addition, consumption remains low in countries where consumption of alcohol is allowed. Thus, all these factors will most likely limit the high-end rum market growth in the region.
Middle East & Africa High-End Rum Market Revenue and Forecast to 2030 (US$ Million)
Middle East & Africa High-End Rum Market Segmentation
The Middle East & Africa high-end rum market is categorized into product type, category, nature, distribution channel, and country.
Based on product type, the Middle East & Africa high-end rum market is categorized into white, dark, and gold. The gold segment held the largest market share in 2022.
In terms of category, the Middle East & Africa high-end rum market is segmented into super premium, ultra-premium, and prestige & prestige plus. The super premium segment held the largest market share in 2022.
By nature, the Middle East & Africa high-end rum market is bifurcated into plain and flavored. The plain segment held a larger market share in 2022.
In terms of distribution channel, the Middle East & Africa high-end rum market is categorized into supermarkets and hypermarkets, specialty stores, online retail, and others. The specialty stores segment held the largest market share in 2022.
By country, the Middle East & Africa high-end rum market is segmented into South Africa, the UAE, Nigeria, and the Rest of Middle East & Africa. The Rest of Middle East & Africa dominated the Middle East & Africa high-end rum market share in 2022.
Pernod Ricard SA, Davide Campari Milano NV, Brown Forman Corp, and Diageo Plc are some of the leading companies operating in the Middle East & Africa high-end rum market.
Summary Info
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According to the Research Team’ research, the Middle East & Africa high-end rum market was valued at US$ 132.08 million in 2022 and is expected to reach US$ 172.71 million by 2030, registering a CAGR of 3.4% from 2022 to 2030. Rum premiumization and rising trend of homemade cocktail among consumers are among the critical factors attributed to drive the Middle East & Africa high-end rum market growth.
Traditionally, rum has been popular among a broad demographic. Initially, rum was known for its mass production, simple flavor profile, and ideal for blending into cocktails. However, over time, rum manufacturers began to explore advanced aging techniques and more sophisticated distillation methods. This resulted in the development of rums with more complex and nuanced flavor profiles comparable to other premium spirits such as whiskey and cognac.
The impact of digital marketing and social media has also played an important role. Premium rum brands that effectively use social platforms have showcased the versatility and luxury associated with products, attracting consumers. Several brands, such as Diplomático, Rum Zacapa, and Richard Seale, have emerged as key players in premium rum for the quality of their products and their innovative marketing strategies.
Globally, premium rum is gaining traction in several key international markets. In the US, Middle East & Africa, and Asia Pacific, there is an increase in demand for premium and ultra-premium rums. Premium, matured, and high-quality rums are becoming more popular as consumers seek distinctive flavors and novel experiences in rum consumption.
Younger consumers, especially those between the ages of 25 and 40, are keen to invest in premium rums that offer a unique history and distinctive flavor profile. Thus, key players are launching innovative products to cater to the increasing demand. For instance, in February 2021, Diageo introduced the Captain Morgan Sherry Oak Finish, a premium variety of rum matured in sherry casks aimed at discerning rum connoisseurs.
The consumers’ willingness to experiment with matured rums with complex flavor profiles and rich history is further boosting the growth of the high-end rum market. With an upsurge in the number of premium varieties of rum launched across the globe, market players are trying to push high-end products to encourage consumers to spend more. Thus, the increasing demand for premium varieties of rum boosts the demand for high-end rum, thereby driving the Middle East & Africa market growth.
On the flip side, increasing demand for low-alcoholic beverages hampers the growth of Middle East & Africa high-end rum market.
Based on product type, the Middle East & Africa high-end rum market is categorized white, dark, and gold segment held 48.8% market share in 2022, amassing US$ 64.40 million. It is projected to garner US$ 84.13 million by 2030 to register 3.4% CAGR during 2022–2030.
In terms of category, the Middle East & Africa high-end rum market is segmented into super premium, ultra-premium, and prestige & prestige plus . The super premium segment held 68.8% share of Middle East & Africa high-end rum market in 2022, amassing US$ 90.91 million. It is anticipated to garner US$ 116.70 million by 2030 to expand at 3.2% CAGR during 2022–2030.
By nature, the Middle East & Africa high-end rum market is bifurcated into plain and flavored . The plain segment held 81.0% share of Middle East & Africa high-end rum market in 2022, amassing US$ 107.00 million. It is projected to garner US$ 141.47 million by 2030 to expand at 3.6% CAGR from 2022 to 2030.
By distribution channel, the Middle East & Africa high-end rum market is categorized into supermarket and hypermarket, specialty stores, online retail, and others . The specialty stores segment held 83.9% share of Middle East & Africa high-end rum market in 2022, amassing US$ 110.83 million. It is projected to garner US$ 143.89 million by 2030 to expand at 3.3% CAGR from 2022 to 2030.
Based on country, the Middle East & Africa high-end rum market is categorized into South Africa, the UAE, Nigeria, and the Rest of Middle East & Africa. Our regional analysis states that the Rest of Middle East & Africa captured 54.6% share of Middle East & Africa high-end rum market in 2022. It was assessed at US$ 72.08 million in 2022 and is likely to hit US$ 90.79 million by 2030, registering a CAGR of 2.9% during 2022–2030.
Key players operating in the Middle East & Africa high-end rum market are Pernod Ricard SA, Davide Campari Milano NV, Brown Forman Corp, and Diageo Plc., among others.
o Highlights key business priorities in order to assist companies to realign their business strategies.
o The key findings and recommendations highlight crucial progressive industry trends in the Middle East & Africa high-end rum market, thereby allowing players across the value chain to develop effective long-term strategies.
o Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
o Scrutinize in-depth Middle East & Africa market trends and outlook coupled with the factors driving the Middle East & Africa high-end rum market, as well as those hindering it.
o Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution.
1. Introduction
1.1 The the Reporting Teams Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Market Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
3.4 Limitations and Assumptions
4. Middle East & Africa High-End Rum Market Landscape
4.1 Overview
4.2 Porter’s Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Competitive Rivalry
4.2.5 Threat of Substitutes
4.3 Ecosystem Analysis
4.3.1 Raw Material Suppliers
4.3.2 Manufacturing Processes
4.3.2.1 Fermentation
4.3.2.2 Distillation
4.3.2.3 Aging/Maturation
4.3.2.4 Blending
4.3.2.5 Bottling
4.3.3 Distribution Channels
5. Middle East & Africa High-End Rum Market – Key Market Dynamics
5.1 High-End Rum Market – Key Market Dynamics
5.2 Market Drivers
5.2.1 Rum Premiumization
5.2.2 Strategic Initiatives by Key Players
5.3 Market Restraints
5.3.1 Increasing Demand for Low-alcoholic Beverages
5.4 Market Opportunities
5.4.1 Growing Consumption of Flavored and Spiced Rum
5.4.2 Rising Sales through E-commerce Platforms
5.5 Future Trends
5.5.1 Rising Trend of Homemade Cocktail Among Consumers
5.6 Impact of Drivers and Restraints:
6. High-End Rum Market – Middle East & Africa Market Analysis
6.1 High-End Rum Market Revenue (US$ Million), 2020-2030
6.2 High-End Rum Market Forecast Analysis
7. Middle East & Africa High-End Rum Market Analysis – By Product Type
7.1 Overview
7.2 White
7.2.1 Overview
7.2.2 White: High-End Rum Market Revenue and Forecast to 2030 (US$ Million)
7.3 Dark
7.3.1 Overview
7.3.2 Dark: High-End Rum Market Revenue and Forecast to 2030 (US$ Million)
7.4 Gold
7.4.1 Overview
7.4.2 Gold: High-End Rum Market Revenue and Forecast to 2030 (US$ Million)
8. Middle East & Africa High-End Rum Market Revenue Analysis – By Category
8.1 Overview
8.2 Super Premium
8.2.1 Overview
8.2.2 Super Premium: High-End Rum Market Revenue and Forecast to 2030 (US$ Million)
8.3 Ultra Premium
8.3.1 Overview
8.3.2 Ultra Premium: High-End Rum Market Revenue and Forecast to 2030 (US$ Million)
8.4 Prestige & Prestige Plus
8.4.1 Overview
8.4.2 Prestige & Prestige Plus: High-End Rum Market Revenue and Forecast to 2030 (US$ Million)
9. Middle East & Africa High-End Rum Market Revenue Analysis – By Nature
9.1 Overview
9.2 Plain
9.2.1 Overview
9.2.2 Plain: High-End Rum Market Revenue and Forecast to 2030 (US$ Million)
9.3 Flavored
9.3.1 Overview
9.3.2 Flavored: High-End Rum Market Revenue and Forecast to 2030 (US$ Million)
10. Middle East & Africa High-End Rum Market Revenue Analysis – By Distribution Channel
10.1 Overview
10.2 Supermarkets and Hypermarkets
10.2.1 Overview
10.2.2 Supermarkets and Hypermarkets: High-End Rum Market Revenue and Forecast to 2030 (US$ Million)
10.3 Specialty Stores
10.3.1 Overview
10.3.2 Specialty Stores: High-End Rum Market Revenue and Forecast to 2030 (US$ Million)
10.4 Online Retail
10.4.1 Overview
10.4.2 Online Retail: High-End Rum Market Revenue and Forecast to 2030 (US$ Million)
10.5 Others
10.5.1 Overview
10.5.2 Others: High-End Rum Market Revenue and Forecast to 2030 (US$ Million)
11. Middle East & Africa High-End Rum Market – Country Analysis
11.1 Middle East & Africa
11.1.1 Middle East & Africa High-End Rum Market Overview
11.1.2 Middle East & Africa High-End Rum Market Revenue and Forecasts and Analysis – By Countries
11.1.2.1 Middle East & Africa High-End Rum Market Breakdown by Country
11.1.2.2 Middle East and Africa: High-End Rum Market – Revenue and Forecast Analysis – by Country
11.1.2.3 South Africa High-End Rum Market Revenue and Forecasts to 2030 (US$ Million)
11.1.2.3.1 South Africa High-End Rum Market Breakdown by Product Type
11.1.2.3.2 South Africa High-End Rum Market Breakdown by Category
11.1.2.3.3 South Africa High-End Rum Market Breakdown by Nature
11.1.2.3.4 South Africa High-End Rum Market Breakdown by Distribution Channel
11.1.2.4 UAE High-End Rum Market Revenue and Forecasts to 2030 (US$ Million)
11.1.2.4.1 UAE High-End Rum Market Breakdown by Product Type
11.1.2.4.2 UAE High-End Rum Market Breakdown by Category
11.1.2.4.3 UAE High-End Rum Market Breakdown by Nature
11.1.2.4.4 UAE High-End Rum Market Breakdown by Distribution Channel
11.1.2.5 Nigeria High-End Rum Market Revenue and Forecasts to 2030 (US$ Million)
11.1.2.5.1 Nigeria High-End Rum Market Breakdown by Product Type
11.1.2.5.2 Nigeria High-End Rum Market Breakdown by Category
11.1.2.5.3 Nigeria High-End Rum Market Breakdown by Nature
11.1.2.5.4 Nigeria High-End Rum Market Breakdown by Distribution Channel
11.1.2.6 Rest of Middle East & Africa High-End Rum Market Revenue and Forecasts to 2030 (US$ Million)
11.1.2.6.1 Rest of Middle East & Africa High-End Rum Market Breakdown by Product Type
11.1.2.6.2 Rest of Middle East & Africa High-End Rum Market Breakdown by Category
11.1.2.6.3 Rest of Middle East & Africa High-End Rum Market Breakdown by Nature
11.1.2.6.4 Rest of Middle East & Africa High-End Rum Market Breakdown by Distribution Channel
12. Industry Landscape: High-End Rum Market
12.1 Overview
12.2 Partnership
12.3 Product News
12.4 Collaboration
12.5 Joint Venture
12.6 Merger and Acquisitions
13. Company Profiles
13.1 Pernod Ricard SA
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Davide Campari Milano NV
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Brown-Forman Corp
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Diageo Plc
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
14. Appendix
Table 1. High-End Rum Market Segmentation
Table 2. High-End Rum Market – Revenue and Forecast to 2030 (US$ Million)
Table 3. Middle East & Africa High-End Rum Market Revenue and Forecasts to 2030 (US$ Million) – By Product Type
Table 4. High-End Rum Market Revenue and Forecasts to 2030 (US$ Million) – By Category
Table 5. High-End Rum Market Revenue and Forecasts to 2030 (US$ Million) – By Nature
Table 6. High-End Rum Market Revenue and Forecasts to 2030 (US$ Million) – By Distribution Channel
Table 7. Middle East and Africa: High-End Rum Market – Revenue and Forecast to 2030(US$ Million) – by Country
Table 8. South Africa High-End Rum Market Revenue and Forecasts to 2030 (US$ Million) – By Product Type
Table 9. South Africa High-End Rum Market Revenue and Forecasts to 2030 (US$ Million) – By Category
Table 10. South Africa High-End Rum Market Revenue and Forecasts to 2030 (US$ Million) – By Nature
Table 11. South Africa High-End Rum Market Revenue and Forecasts to 2030 (US$ Million) – By Distribution Channel
Table 12. UAE High-End Rum Market Revenue and Forecasts to 2030 (US$ Million) – By Product Type
Table 13. UAE High-End Rum Market Revenue and Forecasts to 2030 (US$ Million) – By Category
Table 14. UAE High-End Rum Market Revenue and Forecasts to 2030 (US$ Million) – By Nature
Table 15. UAE High-End Rum Market Revenue and Forecasts to 2030 (US$ Million) – By Distribution Channel
Table 16. Nigeria High-End Rum Market Revenue and Forecasts to 2030 (US$ Million) – By Product Type
Table 17. Nigeria High-End Rum Market Revenue and Forecasts to 2030 (US$ Million) – By Category
Table 18. Nigeria High-End Rum Market Revenue and Forecasts to 2030 (US$ Million) – By Nature
Table 19. Nigeria High-End Rum Market Revenue and Forecasts to 2030 (US$ Million) – By Distribution Channel
Table 20. Rest of Middle East & Africa High-End Rum Market Revenue and Forecasts to 2030 (US$ Million) – By Product Type
Table 21. Rest of Middle East & Africa High-End Rum Market Revenue and Forecasts to 2030 (US$ Million) – By Category
Table 22. Rest of Middle East & Africa High-End Rum Market Revenue and Forecasts to 2030 (US$ Million) – By Nature
Table 23. Rest of Middle East & Africa High-End Rum Market Revenue and Forecasts to 2030 (US$ Million) – By Distribution Channel
Figure 1. High-End Rum Market Segmentation, by Country
Figure 2. Porter’s Five Forces Analysis: High-End Rum Market
Figure 3. Ecosystem: High-End Rum Market
Figure 4. Impact Analysis of Drivers and Restraints
Figure 5. High-End Rum Market Revenue (US$ Million), 2020-2030
Figure 6. High-End Rum Market Share (%) – By Product Type, 2022 and 2030
Figure 7. White: High-End Rum Market Revenue and Forecast to 2030 (US$ Million)
Figure 8. Dark: High-End Rum Market Revenue and Forecast to 2030 (US$ Million)
Figure 9. Gold: High-End Rum Market Revenue and Forecast to 2030 (US$ Million)
Figure 10. High-End Rum Market Revenue Share, By Category (2022 and 2030)
Figure 11. Super Premium: High-End Rum Market Revenue and Forecast to 2030 (US$ Million)
Figure 12. Ultra Premium: High-End Rum Market Revenue and Forecast to 2030 (US$ Million)
Figure 13. Prestige & Prestige Plus: High-End Rum Market Revenue and Forecast to 2030 (US$ Million)
Figure 14. High-End Rum Market Revenue Share, By Nature (2022 and 2030)
Figure 15. Plain: High-End Rum Market Revenue and Forecast to 2030 (US$ Million)
Figure 16. Flavored: High-End Rum Market Revenue and Forecast to 2030 (US$ Million)
Figure 17. High-End Rum Market Revenue Share, By Distribution Channel (2022 and 2030)
Figure 18. Supermarkets and Hypermarkets: High-End Rum Market Revenue and Forecast to 2030 (US$ Million)
Figure 19. Specialty Stores: High-End Rum Market Revenue and Forecast to 2030 (US$ Million)
Figure 20. Online Retail: High-End Rum Market Revenue and Forecast to 2030 (US$ Million)
Figure 21. Others: High-End Rum Market Revenue and Forecast to 2030 (US$ Million)
Figure 22. Middle East & Africa High-End Rum Market, by Country – Revenue (2022) (US$ Million)
Figure 23. Middle East & Africa High-End Rum Market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 24. South Africa High-End Rum Market Revenue and Forecasts to 2030 (US$ Million)
Figure 25. UAE High-End Rum Market Revenue and Forecasts to 2030 (US$ Million)
Figure 26. Nigeria High-End Rum Market Revenue and Forecasts to 2030 (US$ Million)
Figure 27. Rest of Middle East & Africa High-End Rum Market Revenue and Forecasts to 2030 (US$ Million)
The List of Companies – Middle East & Africa High-End Rum Market
1. Pernod Ricard SA
2. Davide Campari Milano NV
3. Brown Forman Corp
4. Diageo Plc
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