The Argentina market accounts for nearly 1% of the Latin American rum market size. The market registered a compound annual growth rate (CAGR) of -18.0% during 2017-22 and 33% growth over 2021. According to GlobalData’s deep-dive analysis report, Argentina rum market databook, light rum accounted for a notable share of 94% among various rum segments in the market in 2022, followed by dark rum. The report also provides in-depth analysis and market forecast to 2027. Buy the report here.
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According to GlobalData’s company and brand analysis, Bacardi, Pernod Ricard Group and Destilados Argentinos held significant shares in the Argentina rum market in 2022. Concurrently, Bacardi, Havana Club and JAMAICA led in terms of brand market share. Bacardi had the leading market share by volume in 2022. Companies operating in the Argentina rum market continue to use innovation to target gaps in product offering. Continuous tracking of market size and company performance is important to help competitors capture and maximize profits.
GlobalData’s channel analysis reveals that food & drinks specialists were the key channel of purchase for rum, along with hypermarkets & supermarkets. Also, on trade recorded a notable growth during the COVID-19 pandemic, as consumers were forced to stay at home due to restricted movement opportunities.
Food & drinks specialists constituted the highest market share by volume in 2022. Consumers preferred this channel for its product assortment and competitive pricing. Hypermarkets & supermarkets was the next preferred channel in the Argentina market.
Among the top Latin American markets, Colombia accounted for the highest volume share in 2022, followed by Peru, Chile, Mexico, Brazil, and Argentina.
With a growing number of consumers seeking to experiment with novel products, manufacturers and brands need to constantly innovate their flavours and formulations to remain relevant and competitive. Additionally, the popularity of e-commerce has made it easier for shoppers to compare product features and offerings across different brands.
To further understand and explore GlobalData’s insight into the rum category and market forecast to 2027, buy the report here.
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