The Hungarian rum market has shown moderate growth over the past decade, with the market size value reaching 5.9627 Million Euros by 2023. This marks a year-on-year increase of 3.32% compared to 2022. Over the last two years, the market experienced steady growth, with a 5.75% increase in 2021 and a 3.47% increase in 2022. The recession from 2014 to 2017 gave way to a positive growth trend. The five-year compound annual growth rate (CAGR) leading to 2023 is 2.14%, indicating gradual market recovery and expansion.
Future trends to watch for in Hungary's rum market include:
- Growing consumer interest in premium and craft rum varieties, reflecting a global trend towards premiumization.
- Potential impact of economic fluctuations and inflation on consumer spend, which can alter purchasing habits.
- Innovations in marketing and distribution, increasing e-commerce platforms and digital purchasing options.
- The influence of sustainability and ethical consumption on brand choice as consumers become more environmentally conscious.
How does Hungary rank in Rum Market Size Value?
| # | 11 Countries | Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 France | 419,420,000 | 2023 | -0.84% | -0.46% | View data |
| 2 | 2 Spain | 148,940,000 | 2023 | -7.82% | -6.68% | View data |
| 3 | 3 Germany | 133,300,000 | 2023 | -5.09% | -3.76% | View data |
| 4 | 4 Netherlands | 42,986,000 | 2023 | +0.24% | -0.18% | View data |
| 5 | 5 Greece | 24,800,000 | 2023 | +2.12% | +2.17% | View data |
| 8 | 8 Finland | 9,625,000 | 2023 | +1.36% | +0.73% | View data |
| 9 | 9 Croatia | 6,019,500 | 2023 | +5.67% | -0.88% | View data |
| 10 | 10 Hungary | 5,962,700 | 2023 | +3.32% | +2.14% | |
| 11 | 11 Bulgaria | 2,338,500 | 2023 | -1.83% | -1.49% | View data |
