United Kingdom - Rum - Market Analysis, Forecast, Size, Trends And Insights
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View PricingRum Price in the UK - 2023
Contents:
- Rum Price in the UK (CIF) - 2023
- Rum Price in the UK (FOB) - 2022
- Rum Imports in the UK
- Rum Exports in the UK
Rum Price in the UK (CIF) - 2023
The average rum import price stood at $3.1 per litre in June 2023, reducing by -5.6% against the previous month. In general, the import price recorded a pronounced descent. The most prominent rate of growth was recorded in March 2023 an increase of 50% month-to-month. Over the period under review, average import prices attained the maximum at $5.9 per litre in November 2022; however, from December 2022 to June 2023, import prices stood at a somewhat lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Panama ($7.5 per litre), while the price for Guyana ($1.5 per litre) was amongst the lowest.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by Spain (+5.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Rum Price in the UK (FOB) - 2022
The average rum export price stood at $6.4 per litre in 2022, shrinking by -2% against the previous year. In general, the export price continues to indicate a mild reduction. The most prominent rate of growth was recorded in 2018 when the average export price increased by 13% against the previous year. Over the period under review, the average export prices reached the maximum at $8 per litre in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Czech Republic ($20 per litre), while the average price for exports to Turkey ($2.4 per litre) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Australia (+3.5%), while the prices for the other major destinations experienced more modest paces of growth.
Rum Imports in the UK
In 2022, purchases abroad of rum decreased by -2% to 36M litres, falling for the second year in a row after two years of growth. The total import volume increased at an average annual rate of +3.0% over the period from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The pace of growth appeared the most rapid in 2020 with an increase of 15%. As a result, imports attained the peak of 38M litres. From 2021 to 2022, the growth of imports failed to regain momentum.
In value terms, rum imports amounted to $130M in 2022. The total import value increased at an average annual rate of +6.5% from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 13% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the immediate term.
| Import of Rum in the UK (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 4.0 | 1.8 | 4.2 | 36.0 | 108.0% |
| Guatemala | 14.4 | 14.9 | 21.2 | 25.2 | 20.5% |
| Jamaica | 10.6 | 13.5 | 13.8 | 10.5 | -0.3% |
| France | 6.9 | 6.2 | 6.9 | 9.6 | 11.6% |
| Guyana | 8.3 | 8.6 | 9.0 | 9.2 | 3.5% |
| Dominican Republic | 0.5 | 0.3 | 1.9 | 7.9 | 150.9% |
| Netherlands | 6.3 | 7.2 | 6.0 | 5.5 | -4.4% |
| Italy | 40.8 | 46.3 | 37.7 | 0.3 | -80.6% |
| Others | 15.8 | 22.5 | 19.8 | 25.9 | 17.9% |
| Total | 108 | 121 | 120 | 130 | 6.4% |
Top Suppliers of Rum to the UK in 2022:
- United States (9.6M litres)
- Guyana (4.7M litres)
- Guatemala (4.2M litres)
- Jamaica (3.6M litres)
- Dominican Republic (3.4M litres)
- France (3.2M litres)
- Netherlands (1.7M litres)
- Italy (0.1M litres)
Rum Exports in the UK
In 2022, approx. 13M litres of rum were exported from the UK; growing by 12% compared with the previous year. In general, exports enjoyed strong growth. The most prominent rate of growth was recorded in 2021 with an increase of 86% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are likely to see gradual growth in the near future.
In value terms, rum exports rose sharply to $83M in 2022. Over the period under review, total exports indicated a prominent increase from 2019 to 2022: its value increased at an average annual rate of +10.3% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +82.1% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 66%. The exports peaked in 2022 and are likely to continue growth in years to come.
| Export of Rum in the UK (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | 3.9 | 3.1 | 4.8 | 14.5 | 54.9% |
| Italy | 2.3 | 1.2 | 11.0 | 7.5 | 48.3% |
| United States | 4.9 | 2.8 | 4.1 | 6.4 | 9.3% |
| Germany | 4.9 | 4.0 | 7.3 | 6.4 | 9.3% |
| Czech Republic | 4.0 | 2.5 | 3.6 | 4.8 | 6.3% |
| Australia | 6.6 | 5.5 | 6.6 | 4.5 | -12.0% |
| France | 3.7 | 2.6 | 3.5 | 2.9 | -7.8% |
| Latvia | 3.6 | 2.7 | 4.9 | 2.7 | -9.1% |
| Poland | 1.0 | 1.3 | 2.0 | 1.9 | 23.9% |
| United Arab Emirates | 0.9 | 0.6 | 0.9 | 1.8 | 26.0% |
| South Africa | 1.5 | 0.9 | 1.3 | 1.5 | 0.0% |
| China | 1.1 | 1.0 | 0.8 | 1.0 | -3.1% |
| Turkey | 0.5 | 0.5 | 0.3 | 0.9 | 21.6% |
| Others | 22.9 | 16.8 | 24.8 | 26.3 | 4.7% |
| Total | 61.8 | 45.5 | 75.7 | 82.9 | 10.3% |
Top Export Markets for Rum from the UK in 2022:
- Italy (2601.3K litres)
- Netherlands (2372.6K litres)
- Germany (1323.1K litres)
- United States (752.8K litres)
- Latvia (621.2K litres)
- South Africa (603.4K litres)
- United Arab Emirates (472.0K litres)
- Australia (400.7K litres)
- Poland (391.6K litres)
- France (377.4K litres)
- Turkey (363.2K litres)
- China (280.0K litres)
- Czech Republic (238.1K litres)
This report provides an in-depth analysis of the rum market in the UK. 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:
- United Kingdom
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in the UK
- 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:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- 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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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