New York, Aug. 05, 2019 (GLOBE NEWSWIRE) -- Persistence Market Research published a report on the rhum agricole market, which analyzes the landscape for the period 2019 – 2027. According to the study, the rhum agricole market is likely to reach ~ US$ 1.3 Bn by the end of 2019 in terms of value, and is forecasted to reach ~ US$ 1.7 Bn by the end of 2027.
Preference for Authentic and Pure Creating Opportunity for Rhum Agricole Growth
The popularity of rhum agricole can be attributed to a pervasive trend for fresh and ‘pure’ among aficionados. These preferences have influenced the global beer market, as can be gauged by the spurt in the number of microbreweries, especially in Tier 1 cities. According to the authors of the report, these sentiments are also being expressed in the rum category, with rhum agricole becoming an appealing option for those looking for an authentic and rustic feel. These factors, combined with a steady growth in the opening of bars, pubs, and nightclubs in developing countries, are likely to boost consumption, especially among drinkers looking for an alternative to molasses-based rum.
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In addition, the urban population of the world reached 4.1 billion in 2017 from around 3.3 billion in 2007, which is almost 55% of the world’s overall population. The urban population is expected to witness a steady Y-o-Y growth of around 1.5% over the forecast period. Moreover, urbanization has also created a vast marketplace for alcoholic products, which has further increased the consumption of alcoholic drinks including rhum agricole. Increasing urban population, coupled with factors such as increasing disposable incomes, modernization, and growing preference for alcoholic drinks is expected to lead to the growth of the rhum agricole market across the globe.
Increasing Penetration of E-Commerce to Have a Positive Impact On the Rhum Agricole Market
It is easy these days to buy anything and everything using various e-commerce sites as well as online stores. Alcoholic beverages are no exception to this trend. E-commerce channels as well as DTC (Direct to Consumer) channels that sell spirits are increasing day-by-day. DTC players are selling spirits directly to consumers at stores as well as via online channels. Third party cocktail clubs, which deliver special curated spirits as well as premium cocktail ingredients such as rhum agricole, are increasingly becoming popular. Some startups provide an e-commerce platform, which delivers alcoholic beverages from local breweries or stores directly to the consumers. Thus, with the increasing penetration of such mediums as well as implementation of new business models, the sales of spirits like rhum agricole are expected to increase at a potential rate.
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Growing Popularity of Cocktails Driving the Sales of Rhum Agricole
Made from raw sugarcane rather than molasses or processed sugar, rhum agricole tastes lively, grassy, and tends to be the most flowery and delicate of all the types of rum, with a funky, estery overtone. Spirits as well as rums are popular ingredients of cocktails. Recipes with various new variants of spirits and cocktails are popular. Many enthusiastic consumers tend to mix rhum agricole to cocktails in order to explore and harness unique flavors. The popularity of such cocktail drinks proves to be a positive factor for the rhum agricole market.
Key Producers of Rhum Agricole
The key players in the global rhum agricole market include Rhum Clément, Distillerie J.M., Distillerie Saint-James, La Favorite Distillery, Distillerie Damoiseau, Distillerie Neisson, BELLONNIE & BOURDILLON SUCCESSEURS, Rhumerie de Chamarel, Rhum HSE Habitation St-Etienne, Rhum Bielle, Distillerie Dillon, DISTILLERIE DEPAZ, and others. The key market players are focusing on business expansion as key strategy through diversification of business and through catering market demand across new geographies.
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