The rum sector has seen manufacturers raising the bar in respect of quality and innovation, resulting in its premiumisation. It’s the unique taste of flavoured and spiced varieties that are fuelling demand, as consumers are on the look-out for new and exciting ways to explore rum’s potential. As experts forecast that increasing demand for both flavoured and spiced rums will continue to drive future growth, make sure your brand is ready for the ‘Rum Renaissance.’
Premium Flavoured Rum Fuels Demand
UK sales of rum have been growing steadily over the past 5 years. In 2018 they topped £1billion for the first time(WSTA). That’s equivalent to a whopping 1 billion litres or almost 35 million bottles! The unique taste of both flavoured rum together with spiced varieties are responsible for driving much of the demand across the category as consumers are on the look-out for new and exciting ways to explore rum’s potential.
Rum manufacturers have been raising their game in terms of both quality and innovative flavours leading to its premiumisation. Premium rum currently accounts for approximately 15% of the rum sector, an amount that is growing (WTSA Spirits Report). This is good news for vendors, with consumers willing to pay more for premium products when presented in the right way, which means premium profit margins.
The Taste of The Caribbean
Rum’s exotic history has certainly contributed to its popularity. Hence, flavours popular with consumers include those which evoke feelings of sun-drenched Caribbean shores. These comprise flavours such as watermelon rum, banana rum, guava rum and coffee rum, to name but a few. Key spices include the likes of ginger, clove and vanilla. Both flavoured rum and spiced rum experienced a very healthy 20% increase in sales in the on trade in the last year (Neilsen).
At Simpsons we are experts in creating flavourings for rum and rum liqueurs. Get in touch with our flavour experts today to discuss some new and exciting flavoured rum options for your brand.
Shaking Up Cocktails
The cocktail industry is booming across the U.K. They provide the perfect serve for rum, which accounted for a third of all cocktails sold in the on-trade last year. (The Morning Advertiser). Especially popular amongst millennials, a recent survey found that 80% of 25-34 year olds think rum is a great choice for summer cocktails. (Bazaar 2019). Classics such as Mojitos, Pina Coladas and Daiquiris remain firm favourites. However, mixologists are constantly experimenting with new, innovative recipes and flavour combinations. Incorporating flavoured rums into cocktails can add a unique taste, which can help to capture the attention of customers.
If you are looking to extend your range with flavoured rum or spiced varieties get in touch with our NPD experts today.
Market Predictions for Rum
In 2006 there were just 50 brands of rum in the UK. With the launch of a growing number of flavoured and spiced varieties, today there are almost 200 brands, a number that only looks set to rise.
Industry experts predict the sector will continue to follow in the footsteps of gin. Both flavoured rum and spiced rum are tipped to fuel future growth, as consumers become ever more adventurous, searching for new taste sensations.
Interested to find out how some new innovative flavours can help your brand stand out from the crowd? Get in touch with our New Product Development experts today to discuss your next project.
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