Canada Rum Market Overview, 2028

The Canadian rum market is a dynamic and vibrant sector within the country's beverage industry. With a diverse range of domestic and imported offerings, Canada provides a fertile ground for rum enthusiasts and producers alike. This market boasts a significant consumer base with a penchant for rum, utilizing it in a multitude of cocktails and appreciating its versatility as a sipping spirit. Canadian distilleries contribute to the market by crafting an array of rum styles, including white, gold, spiced, and aged varieties, each displaying unique flavor profiles and meticulous craftsmanship. Furthermore, the availability of imported rums from renowned rum-producing regions such as the Caribbean and Latin America adds depth and international flair to the Canadian rum market. With a growing interest in premium, aged, and flavored expressions, combined with a thriving cocktail culture, Canada presents an exciting landscape for rum enthusiasts and industry players seeking to engage in this spirited market. According to the research report “Canada Rum Market Overview, 2028," published by Bonafide Research, The Canada Rum market is projected to reach market size of more than USD 1.29 Million by 2028. Some major players in the Canadian rum market include Lamb's Rum, Captain Morgan, Bacardi, Appleton Estate, .Aged or dark rum is often a popular choice among rum enthusiasts. These rums have undergone an extended period of aging in barrels, which imparts them with rich flavors, complexity, and smoothness. Aged rums are often enjoyed neat or on the rocks to savor their nuanced characteristics. Over proof rum is a high-alcohol-content rum that typically exceeds the standard proof of 80 (40% ABV). While over proof rums are potent and often used sparingly in cocktails, they are also appreciated by enthusiasts who enjoy the intensity and unique character they bring to mixed drinks. The Rum Experience Festival dedicated to showcasing a wide range of rums from around the world. It offers tasting sessions, master classes, cocktail competitions, and educational seminars for rum enthusiasts and industry professionals. Canada's colder temperatures and shorter growing seasons make it challenging to cultivate sugar cane, which is the primary ingredient in rum production. This constraint limits the domestic production of rum using locally sourced ingredients and necessitates a reliance on imported rum. Additionally, the Canadian alcohol market is heavily regulated, with strict controls on the sale, distribution, and taxation of alcoholic beverages. The high taxes and fees imposed on spirits, including rum, can significantly impact pricing and profitability for producers and retailers. These regulations create barriers to entry and can hinder the growth of smaller distilleries. Canada's limited domestic production volume of rum compared to other spirits results in a smaller range of domestic rum brands available in the market. Imported rums from renowned rum-producing regions enjoy strong brand recognition and consumer loyalty, posing competition to domestic rum brands. Consumer preferences and awareness also pose challenges. Some consumers may have limited knowledge or awareness of the different rum styles and brands available, leading to a narrower market for specific types or expressions of rum. Educating consumers and raising awareness about the diverse offerings in the rum market can help expand the consumer base. Provincial liquor regulatory boards, independent merchants, online retailers, bars, restaurants and hotels, as well as the export market, are common distribution outlets for rum in Canada. These channels assist rum producers in reaching consumers via government-run stores, independent retailers, online marketplaces, brick-and-mortar stores, and foreign markets. Both mass-market and premium rums are widely available in Canada, catering to various consumer tastes and price ranges. Premium rums are intended for customers looking for higher-quality and more exclusive expressions, whilst mass-market rums often provide more cheap options and are readily available. The choice between mass-produced and luxury rum might change depending on things like personal preferences, events, and financial power. Canadian rums have gained recognition on the international stage, winning awards at prestigious spirits competitions. This acknowledgment showcases the quality and craftsmanship of Canadian rum producers. Rum tourism has gained traction in Canada, with distilleries opening their doors to visitors. Tourists can explore rum production facilities, learn about the history and art of rum-making, and indulge in tastings and interactive experiences. Considered in this report • Geography: Canada • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028

Aspects covered in this report • Canada Rum Market with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Types Rum • White Rum • Light or Gold Rum • Dark Rum • Spiced and Flavored By Nature • Conventional • Organic By Category • Standard • Over proof By Segment • Mass • Premium /Craft Rum By Distribution Channel • On -Trade • Off-Trade

The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us. We have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to rum industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry. Keywords: Canada, White Rum, Gold Rum, Dark Rum, Spiced and Flavored, Conventional and Organic, Standard, over proof, Mass, Craft rum, online /offline and others??? The Canadian rum market is a dynamic and vibrant sector within the country's beverage industry. With a diverse range of domestic and imported offerings, Canada provides a fertile ground for rum enthusiasts and producers alike. This market boasts a significant consumer base with a penchant for rum, utilizing it in a multitude of cocktails and appreciating its versatility as a sipping spirit. Canadian distilleries contribute to the market by crafting an array of rum styles, including white, gold, spiced, and aged varieties, each displaying unique flavor profiles and meticulous craftsmanship. Furthermore, the availability of imported rums from renowned rum-producing regions such as the Caribbean and Latin America adds depth and international flair to the Canadian rum market. With a growing interest in premium, aged, and flavored expressions, combined with a thriving cocktail culture, Canada presents an exciting landscape for rum enthusiasts and industry players seeking to engage in this spirited market. According to the research report “Canada Rum Market Overview, 2028," published by Bonafide Research, The Canada Rum market is projected to reach market size of more than USD 1.29 Million by 2028. Some major players in the Canadian rum market include Lamb's Rum, Captain Morgan, Bacardi, Appleton Estate, .Aged or dark rum is often a popular choice among rum enthusiasts. These rums have undergone an extended period of aging in barrels, which imparts them with rich flavors, complexity, and smoothness. Aged rums are often enjoyed neat or on the rocks to savor their nuanced characteristics. Over proof rum is a high-alcohol-content rum that typically exceeds the standard proof of 80 (40% ABV). While over proof rums are potent and often used sparingly in cocktails, they are also appreciated by enthusiasts who enjoy the intensity and unique character they bring to mixed drinks. The Rum Experience Festival dedicated to showcasing a wide range of rums from around the world. It offers tasting sessions, master classes, cocktail competitions, and educational seminars for rum enthusiasts and industry professionals. Canada's colder temperatures and shorter growing seasons make it challenging to cultivate sugar cane, which is the primary ingredient in rum production. This constraint limits the domestic production of rum using locally sourced ingredients and necessitates a reliance on imported rum. Additionally, the Canadian alcohol market is heavily regulated, with strict controls on the sale, distribution, and taxation of alcoholic beverages. The high taxes and fees imposed on spirits, including rum, can significantly impact pricing and profitability for producers and retailers. These regulations create barriers to entry and can hinder the growth of smaller distilleries. Canada's limited domestic production volume of rum compared to other spirits results in a smaller range of domestic rum brands available in the market. Imported rums from renowned rum-producing regions enjoy strong brand recognition and consumer loyalty, posing competition to domestic rum brands. Consumer preferences and awareness also pose challenges. Some consumers may have limited knowledge or awareness of the different rum styles and brands available, leading to a narrower market for specific types or expressions of rum. Educating consumers and raising awareness about the diverse offerings in the rum market can help expand the consumer base. Provincial liquor regulatory boards, independent merchants, online retailers, bars, restaurants and hotels, as well as the export market, are common distribution outlets for rum in Canada. These channels assist rum producers in reaching consumers via government-run stores, independent retailers, online marketplaces, brick-and-mortar stores, and foreign markets. Both mass-market and premium rums are widely available in Canada, catering to various consumer tastes and price ranges. Premium rums are intended for customers looking for higher-quality and more exclusive expressions, whilst mass-market rums often provide more cheap options and are readily available. The choice between mass-produced and luxury rum might change depending on things like personal preferences, events, and financial power. Canadian rums have gained recognition on the international stage, winning awards at prestigious spirits competitions. This acknowledgment showcases the quality and craftsmanship of Canadian rum producers. Rum tourism has gained traction in Canada, with distilleries opening their doors to visitors. Tourists can explore rum production facilities, learn about the history and art of rum-making, and indulge in tastings and interactive experiences. Considered in this report • Geography: Canada • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report • Canada Rum Market with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Types Rum • White Rum • Light or Gold Rum • Dark Rum • Spiced and Flavored By Nature • Conventional • Organic By Category • Standard • Over proof By Segment • Mass • Premium /Craft Rum By Distribution Channel • On -Trade • Off-Trade The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us. We have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to rum industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry. Keywords: Canada, White Rum, Gold Rum, Dark Rum, Spiced and Flavored, Conventional and Organic, Standard, over proof, Mass, Craft rum, online /offline and others???