The Spanish rum market experienced significant fluctuations between 2013 and 2023. The market size value stood at 148.94 million Euros in 2023, following a decade-long decline from 242.17 million Euros in 2013. This decrease represents a compound annual growth rate (CAGR) of -6.68% over the last five years. Notably, market contraction accelerated with a 7.82% year-on-year decrease from 2022 to 2023, following a 7.1% decline the previous year.
Future trends to watch for include potential stabilization or growth as the industry adapts to changing consumer preferences, the introduction of premium products, and increased sustainability efforts. Monitoring economic recovery and tourism resurgence could also influence demand positively.
How does Spain 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% | |
| 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 |
