The Growing Rum Markets in Europe: Analysis and Potential

The Rum category is certainly growing in three European markets that border the Atlantic Sea. Not only are they growing, but the local market is investing in growing the category through educational and tasting events. Federico Hernandez, from the TheRumLab has started on studying and analyzing the potential of each market with the intention of helping rum producers increase their footprint. 

Based on a previous IWSR report, between all three markets, they represented approximately the following volumes of 9-liter cases. The majority of the rums in the report are imported to each market.  

2020 Sales 7,1MM
2021 Sales 8,8MM
2022 Sales 9.5MM

Let’s break them down per market. 

Portugal, including Madeira

Still a small player, but with robust sales growth between 2021 and 2022 

2020 Sales  58 Thousand
2021 Sales  77 Thousand
2022 Sales 118 Thousand

Top brands: Bacardi Rum, Havana Club Rum & Captain Morgan Rum

Key Events:
Madeira Rum Festival, April 16–21, 2024 (Madeira, Portugal) Since 2017, the Madeira Rum Festival has been held on the captivating Portuguese island of Madeira, which is well-known for its breathtaking landscapes and rich cultural heritage. The celebration of Madeira Agricole Rum is the focus of this festival, which attracts rum enthusiasts and vacationers from around the world.

The festival offers activities for both seasoned connoisseurs and those who are new to the world of rum, such as masterclasses on Madeira agricole rum, pairings with Madeira agricole rum, and mixology.

Notes by Federico:
It caught my attention that hard local rum brands don’t have a strong presence, if any, in the list of products. This is an area of great opportunity for the local industry that makes amazing rums at the Island of Madeira. 

Spain: A very unique market in the EU with a vast opportunity to grow in the Premium Category. 

2020 Sales 2,2MM
2021 Sales 3.2MM
2022 Sales 3.9MM

Top brands: Ron Barcelo, Ron Brugal y Ron Negrita 

Key events: 

Women Leading Rum. Conference Europe, April 25–27, 2024 (Madrid, Spain)

 In the heart of Madrid, under the luster of an ever-evolving industry, an unprecedented event emerges that promises to revolutionize not only the world of rum but also the role played by women. The 1st edition of “Women Leading Rum. Europe Conference 2024,” to be held on April 26, 2024, is not just a meeting; it is the reflection of a movement, the epicenter of a change, and a celebration of women’s diversity and leadership in the international sphere of spiritualists.

This event emerges to materialize the first face-to-face meeting of Women Leading Rum, an organization that so far has extended its influence and support through digital platforms and contact networks. This congress represents a significant milestone, a new phase of the organization that seeks to consolidate as a pillar of support and professional growth for its members and for the brands that collaborate with them. 

Spain Rum and Gin Expo, April 26th, 2024 (Madrid, Spain)

The inaugural Spain Rum & Gin Expo will be held at the event space Meeu, located at the Chamartín station in Madrid, on April 26, 2024.

Through this educational and sensory meeting, we want to highlight the national and international brands of rum and gin, as well as the Spanish producers,” he explained. “We also seek to contribute to the growth and recognition of the local industry, creating opportunities for professionals in the sector to connect with each other. – Says The Rum Lab CEO Federico Hernández

Notes by Federico:
There is an organic movement happening in Spain, where locals are looking for new alternatives to rum. Yet, the biggest opportunity is learning how to convert the vast audience that has a preference for drinking rum mixed with Coca-Cola. 

France: is certainly one of the leading markets in the EU

2020 Sales 4,9MM
2021 Sales 5,4MM
2022 Sales 5.4MM

Top brands: Captain Morgan Rum, Old Nick Rum & St. James Rum

Key Events: Rhum Fest Paris, May 1–3, 2024 (Paris, France)

Rhum Fest Paris celebrates its 10th anniversary this year, and it is by far the largest rum festival in the world. The French organizers have chosen to balance this festival between the fun atmosphere surrounding this spirit that smells of vacation and the increasing quality of rum. 

Every year, more than 8,000 people, including journalists, influencers, and professionals, gather in the gardens of Parc Floral Paris to visit the 200 rum brands exhibiting, attend dozens of conferences, and taste close to 500 different rums.

Notes by Federico:
The French market is one I am eager to learn more about. I was mesmerized that Captain Morgan had so much market share. At the same time, I am ecstatic that 3 Agricole Rums from Martinique and/or Guadeloupe are among the top 10 preferred rum brands.