Friday, January 6, 2017
With forecasts volume sales gains of 0.7% for 2016, values are actually likely to show a decrease of 0.1%. For distillers and marketers that are trying build the category’s value, the data does point out an improving picture. There are value gains, though low do indicate that the category is moving in the right direction. Predicted growth for 2017 is expected to be at 0.4%, compared with 0.9% in value terms.
Consumers have a taste for rum, but they there seems to be a lack of those willing to pay for the super – premium expressions. The producers are non the less wooing a small but growing pocket in the market that buys these spirits. . “The rum category, in particular the super-premium sector, has seen strong growth,” Carl Stephenson, founder of Elements Eight rum, said, as the company unveiled a higher-end redesign in July. “In 2016, we saw the acceleration of the upward trend for premium and super premium rums, super-premium innovations like single casks and single vintages are showing a lot of interest.
There has been a lot of interest in the agricole style of rhum that goes along with the interest in the higher end rums. Trois Rivières , Saint James, Clement and Damoiseau all have high quality expressions that more and more people are showing interest in.
2017 should be interesting to follow, especially if the groups that are not only pushing for a premiumization, but for honesty about what is being added to the rum. The French sets of rules for agricole are a good guideline for the rest of the industry, but those like Richard Seale and Luca Gargano, who are trying to add credibility of the category. This will help educate the customers to understand what they are buying as they do in other spirits categories. All in all, I feel this is going to be a good year for rum, I feel like the slide in sales over the past few year will be turned around.