China - Rum - Market Analysis, Forecast, Size, Trends And Insights
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View PricingRum Price in China - 2023
Contents:
- Rum Price in China (CIF) - 2023
- Rum Price in China (FOB) - 2022
- Rum Imports in China
- Rum Exports in China
Rum Price in China (CIF) - 2023
The average rum import price stood at $4.5 per litre in June 2023, picking up by 39% against the previous month. Over the period under review, import price indicated a perceptible expansion from June 2022 to June 2023: its price increased at an average monthly rate of +3.2% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on June 2023 figures, rum import price increased by +39.4% against May 2023 indices. The most prominent rate of growth was recorded in February 2023 an increase of 118% m-o-m. As a result, import price reached the peak level of $5.1 per litre. From March 2023 to June 2023, the average import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In June 2023, the country with the highest price was the United States ($16.5 per litre), while the price for the Netherlands ($1.6 per litre) was amongst the lowest.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by the United States (+22.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Rum Price in China (FOB) - 2022
In 2022, the average rum export price amounted to $5.2 per litre, waning by -4.9% against the previous year. Over the period under review, the export price, however, recorded a strong increase. The growth pace was the most rapid in 2014 an increase of 504%. Over the period under review, the average export prices hit record highs at $12 per litre in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Australia ($18 per litre), while the average price for exports to Papua New Guinea ($4 per litre) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Australia (+151.9%), while the prices for the other major destinations experienced more modest paces of growth.
Rum Imports in China
In 2022, supplies from abroad of rum decreased by -15.1% to 2.7M litres, falling for the second consecutive year after two years of growth. Over the period under review, imports showed a abrupt slump. The most prominent rate of growth was recorded in 2020 when imports increased by 0.5% against the previous year. As a result, imports attained the peak of 3.2M litres. From 2021 to 2022, the growth of imports remained at a lower figure.
In value terms, rum imports shrank rapidly to $8.9M in 2022. In general, imports recorded a slight decline. The most prominent rate of growth was recorded in 2021 when imports increased by 27% against the previous year. As a result, imports reached the peak of $11M, and then dropped rapidly in the following year.
| Import of Rum in China (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Puerto Rico | N/A | 3,854 | 4,095 | 3,480 | -5.0% |
| United Kingdom | 878 | 1,023 | 866 | 851 | -1.0% |
| Cuba | 693 | 448 | 1,051 | 644 | -2.4% |
| France | 593 | 276 | 547 | 603 | 0.6% |
| United States | 3,966 | 475 | 706 | 419 | -52.7% |
| Spain | 490 | 461 | 413 | 356 | -10.1% |
| Japan | 46.0 | 255 | 222 | 340 | 94.8% |
| Trinidad and Tobago | 98.3 | 121 | 94.7 | 185 | 23.5% |
| Brazil | 102 | 121 | 28.4 | 72.9 | -10.6% |
| Swaziland | 211 | N/A | N/A | N/A | 0% |
| Others | 2,306 | 1,821 | 3,215 | 1,994 | -4.7% |
| Total | 9,384 | 8,853 | 11,237 | 8,945 | -1.6% |
Top Suppliers of Rum to China in 2022:
- Puerto Rico (1404.0K litres)
- United Kingdom (267.0K litres)
- United States (261.6K litres)
- Spain (129.4K litres)
- France (110.8K litres)
- Cuba (96.4K litres)
- Japan (93.8K litres)
- Trinidad and Tobago (62.0K litres)
- Brazil (44.3K litres)
Rum Exports in China
In 2022, approx. 128K litres of rum were exported from China; growing by 136% compared with the year before. Overall, exports saw significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 202% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.
In value terms, rum exports soared to $673K in 2022. Over the period under review, exports saw a significant increase. The pace of growth appeared the most rapid in 2021 when exports increased by 220% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the immediate term.
| Export of Rum in China (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Papua New Guinea | 137 | N/A | 236 | 433 | 46.8% |
| Australia | N/A | N/A | N/A | 177 | 0% |
| Singapore | 4.4 | 30.8 | 8.4 | 30.4 | 90.5% |
| Nigeria | 44.0 | N/A | N/A | N/A | 0% |
| Democratic People's Republic of Korea | 10.9 | N/A | N/A | N/A | 0% |
| Taiwan (Chinese) | 9.6 | N/A | N/A | N/A | 0% |
| Others | 33.5 | 62.7 | 55.1 | 32.3 | -1.2% |
| Total | 239 | 93.5 | 299 | 673 | 41.2% |
Top Export Markets for Rum from China in 2022:
- Papua New Guinea (109.2K litres)
- Australia (9.8K litres)
- Singapore (6.6K litres)
This report provides an in-depth analysis of the rum market in China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 11011040 - Rum and other spirits obtained by distilling fermented sugarcane products (important: excluding alcohol duty)
Country coverage:
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in China
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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