Industry experts are predicting rum sales will skyrocket this year, as rising inflation turns whisky fans to more budget-friendly tipples.
While it’s been predicted to be “the next big thing” for many years, rum has been previously overshadowed by the meteoric rise of craft whisky and gin.
However, the sector’s total volume sales jumped by 10% to 150.6 million cases in 2021, up from 136.9 million, according to Euromonitor International.
The Spirits Business‘s Brand Champions 2022 report cites the top three biggest selling rums in the world as Tanduay, with with 23.7 million cases sold, followed closely by Bacardi at 22 million cases, then Captain Morgan at 12.7 million cases.
Ned Duggan, global senior vice-president for the brand, said Bacardí has seen growth “across all areas” – “from flavoured rums to our premium range”.
“But we’re thrilled to see most of our growth coming from Bacardí Carta Blanca, our iconic white rum,” he said. “Our premium aged rums are seeing extensive growth as well, and we’re excited about the ongoing trend of aged sipping rums. Bacardí Reserva Ocho is quickly becoming a star among premium dark spirits drinkers.”
Bacardi has also expanded its RTD range.
“We continue to expand the RTD range, which has been a fantastic way to introduce a whole new audience to the Bacardí brand,” Duggan said.
In Australia, the company recently added two new flavours to its iconic Caribbean rum family, BACARDI Coconut and BACARDI Raspberry.
BACARDI Brand Ambassador Loy Catada said: “The flavour segment is an exciting area for the brand to play, after having watched the growth in flavoured spirits closely overseas we see it as a massive opportunity for BACARDI and for Australian consumers.”
Flavoured extensions and RTDs also propelled 6.6% rum sales growth for Captain Morgan.
Captain Morgan Tropical introduced Coconut and Watermelon into the Australian market in April. The spirit blends coconut and hints of sweet watermelon with notes of spices, which combine to leave a clean finish and fruity aftertaste.
Tropical Coconut and Watermelon is available in both a ready-to-drink can mixed with soda, as well as a full spirit bottle.
Spiros Malandrakis, head of research – alcoholic drinks at Euromonitor International said: “There’s strong premiumisation growing across the industry, but this is the point that I start having my doubts about how sustainable that might be, due to inflation.
“The Roaring ’20s was an era of indulgence and hedonism but also of massive polarised societies. That would mean premiumisation will continue to be there and maintain momentum, but we will start seeing some trading down or trading across.”
He noted that all categories could see consumers being forced move to a more affordable, adjacent category, citing the example of single malts to blends or trading across to a premium dark rum, “which is cheaper than a premium blended malt but positioned as premium”.
4 great reasons to sip rum during July
July is crammed with great reasons for consumers to sip rum, with the fun kicking off on July with World Rum Day, closely followed by National Piña Colada Day on July 10, National Mojito Day on July 11 and National Daiquiri Day on 19 July.
Here’s a cocktail recipe for each occasion from Bacardi.
50ml BACARDÍ Spiced
100ml ginger beer
2 Dashes Angostura Bitters
1 lime wedge
Method: Combine all ingredients into a rocks glass. Garnish with a lime wedge.
Coconut Pina Colada
50 ml BACARDÍ Coconut
35 ml coconut water
15 ml pineapple Juice
4 pineapple Triangles
2tsp extra fine sugar
Method: Place and macerate the pineapple pieces in a shaker. Pour pineapple juice, coconut water and sugar, and stir
until the sugar dissolves. Add rum, fill the shaker with ice and shake. Serve in high glass on crushed ice.
50ml BACARDÍ Raspberry
12 mint leaves
4 lime wedges
2tsp extra fine sugar
25ml soda water
1 sprig of fresh mint
Method: Build all ingredients in a highball glass and lightly muddle. Add your crushed ice and stir. Top with soda and stir lightly before serving. Garnish with a sprig of fresh mint and fresh raspberries.
50ml BACARDÍ Carta Blanca
25ml fresh lime juice
2tsp extra fine sugar
Method: Place sugar and lime juice into a cocktail shaker and stir until sugar is dissolved. Pour in the BACARDÍ Carta Blanca
and fill the shaker with ice. Shake then double strain into a chilled coupe. Garnish with a mint leaf.
Why it’s time to start sipping premium rum