Rum Sales Have Overtaken Whiskey, Vodka, Tequila, and Gin Sales in Puerto Rico
Rum sales have increased by nearly USD 2 million in a year in Puerto Rico, and it now accounts for a bigger market share than whiskey, vodka, tequila, and gin.
The most recent report from the market research company IRI shows that in the 12 months to December 2022, total rum sales in Puerto Rico amounted to over USD 56 million. Furthermore, the top three best-selling brands were Don Q (more than USD 27 million), Palo Viejo (over USD 12 million), and Bacardi (USD over 8 million).
This represents a considerable increase compared to December of the previous year when the rum market was valued at over USD 54 million. On the other hand, the whiskey market was valued at over USD 55 million, vodka at nearly USD 31 million, tequila at more than USD 9 million, and gin at over USD 2 million.
Rum is one of the most popular alcoholic beverages in the spirits category worldwide. Based on market research, the rise of the rum market has been attributed to a surge in interest among younger consumers. The versatility of rum in cocktails, as well as the explosion of new and authentic flavors, have both helped to attract new drinkers.
In addition, the successful positioning of premium rum brands has encouraged many consumers in the Caribbean and around the world to upgrade from mainstream options. This is because increased per capita income in developed and developing economies has augmented the global demand for premium distillates.
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