Rum’s ongoing battle for recognition is a sobering one. For decades, the spirit has striven to move beyond its association with simple cocktails, attempting to achieve the same level of respect afforded to whiskey and tequila. While advocates rightly point to shared characteristics – the aging process, complex flavor profiles – sales figures paint a distinctly challenging picture.
Data from IWSR reveals a persistent decline. Rum’s compound annual growth rate from 2018 to 2024 clocked in at a disappointing -3%. This downward trajectory intensified, dropping to -7% between 2022 and 2024, mirroring only brandy’s concerning decline. This isn’t simply a minor fluctuation; it’s a sustained struggle.
The core of the problem lies with consumer understanding. The vast majority of rum sales are dominated by established brands like Bacardi and Captain Morgan – largely mass-market offerings. There’s a significant gap in awareness and appreciation for the wider world of premium rums, the diverse range of styles and flavor complexities that exist beyond the sugary mixers.
Rum’s roots are also a complicating factor. Originating from sugarcane migration across the globe – encompassing Caribbean islands, Latin America, and Southeast Asia – the spirit’s identity is inherently fragmented. This diversity, while a source of incredible character, has historically hampered efforts to build a unified market narrative.
The COVID-19 pandemic briefly altered this trajectory. A surge in demand for aged rums, fueled by the ‘armchair travel’ trend, temporarily boosted sales. However, this momentum vanished as quickly as it appeared, and premium rum sales – particularly those exceeding $214 – experienced a sharp downturn.
Despite these headwinds, some brands are shifting their focus. Recognizing the need for accessibility, several producers are now prioritizing approachable, value-driven rums, aiming to introduce a new generation of drinkers to the spirit’s potential. Whether this strategy will finally unlock rum’s true market value remains to be seen.
